What exactly is dropshipping?
“Dropshipping is a retail fulfillment method where a store doesn’t keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer. As a result, the merchant never sees or handles the product.
The biggest difference between dropshipping and the standard retail model is that the selling merchant doesn’t stock or own inventory. Instead, the merchant purchases inventory as needed from a third party – usually a wholesaler or manufacturer – to fulfill orders.”
Here are 7 simple steps that you need to know if you want to become a successful ecommerce dropshipper.
(These are shopify, dropshipping stpes; not eBay or Amazon)
Also if you want to start shopify and you want a free access link, head here: http://bit.ly/FreeExcom
Step 1: Niche
Step 1 is all about finding the right niche (what the niche or theme of the products you will be selling on your store). The key to a good niche is to be specific. Your goal shouldn’t be to sell a bunch of different types of products (This is my opinion! Some dropshippers have found success in having a super broad store. That strategy tends to work more if you are marketing on facebook instead of Instagram). We have no interest in trying to be Amazon or Ebay. Stick to a specific niche and you’ll find the later steps much easier and you’ll end up making more money with your store.
Step 2: Market Research
Step 2 is researching your future competitors. This has always been my biggest advantage and secret to massive success online and it’s easier than you think! You’re going to go online and find websites that are already selling in your prospective niche. Then you need to find out a couple things about those sites. Such as, do they have a warehouse, showroom, or retail stores? The goal is to find companies that sell online for multiple brands but have no physical presence. This shows you that they’re drop ship suppliers. It means you can compete with them!
Step 3: Create A Store
Step 3 is all about setting up your store (yes before you’ve even found your suppliers)! Your best bet is to build a store on Shopify. They have a 14 day free trial. You can sign up right now here.
Step 4: Find the best suppliers for your products
Step 4 is finding suppliers for your niche. The easiest way is by using apps to find products from cheap sites that source their products from China. Looking for products that have good reviews and syncing them up to your site.
Step 5: Conversions are everything
Step 5 is all about optimizing for conversions. Basically, it’s doing certain things to get more people buying AND to make more from each person. This is where knowing marketing and psychology plays a big role as well as knowing the secret apps and key tricks that the top bosses are using. If you don’t understand the creative marketing and psychology behind selling and you don’t have anyone to teach you, it becomes really hard to SCALE UP your business to the 6 figure a month range, even 5 figure months may be hard. Trust me.
Step 6: TRAFFICCCCC
Step 6 is all about bringing more, more, and MOREEEE people to your store. There are definitely techniques for bringing more traffic to your website but the real trick is getting good quality traffic. That way you’re getting the most out of the money you’re spending on your paid traffic. There are so many sources of traffic for drop shipping but if you don’t want to waste a bunch of money you should focus on a few of the best. The best sources of traffic in my opinion is social media; Paid Ads, Influencers, and Viral Strategies are all insanely profitable ways to market and they will help you get the best bang for your buck! Make sure to always split test though, so you know what traffic sources are producing the most sales and which ones are just wasting your time.
Step 7: Outsource & Scale
Step 7 to building a MASSIVE drop shipping business is to start outsourcing and automating tasks. Only do this step after:
You found a solid niche
You built your shopify store
You found suppliers for products
You optimize your marketing for highest conversions
You have massive traffic rolling in
And you’re starting to produce consistent sales (You’re making money)
Most of these last step is achieved by using apps and plugins that will automate day-to-day tasks for you. That way you don’t have to work as much while still making money. I have a few different secret apps that my team & I personally use to make our lives a lot easier.
Outsource by hiring virtual assistants to take over easy and tedious tasks. So you can work as little or as much as you want.
P.S: Also a hint of my personal advice! NEVER show anyone your store, especially on social media! You don’t want people to replicate your store/products, or even worse, your marketing! This can create a tougher market for yourself. There’s 100,000’s of new products being listed every month, so this is not a big deal, but you never know!
Don’t forget to start your own shopify store by clicking here.
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