Model Business: 5 Dropshipping Hacks To Save You Time And Money
As a business model, dropshipping is appealing to new entrepreneurs looking to get started without a big investment of capital. Through a dropshipping model, many of the costly elements of business, such as building an inventory and renting a location, are done away with entirely to create a highly streamlined business model that allows owners the flexibility to build a business empire on a shoestring.
For dropshippers, time is their most valuable resource and everything you can do to save it will strengthen your ecommerce business. Whether you’re cutting shipping times or driving sales up through marketing strategies, efficiency is key in the world of ecommerce. Investing in EcomCircles will help drop shippers who are looking to get ahead in the eCommerce world.
Table of Contents
1) Finding Your Niche
When you’re getting your dropshipping business going, the world is your oyster. Customers are waiting to be uncovered and there’s a wealth of suppliers offering every product under the sun. This amount of choice can almost be overwhelming and it’s tempting for entrepreneurs to start building broad catalogues of products to reach the largest number of customers.
2) Selecting Suppliers
As a dropshipper, your relationship with your suppliers is essential to your success – second only to the relationship you build with your customers. As you’re growing your dropshipping business you need to be extremely selective in finding the right suppliers. There are many platforms where online dropshipping businesses are available for sale. Be sure to do your research and read the plentiful reviews online before you reach out to suppliers in the first instance.
One major tip is avoiding suppliers who aren’t directly involved with the manufacturing of your chosen products. “Manufacturers will often supply dropshippers directly, meaning you have a direct line to those who are producing the products you’re selling,” says Joanne Simon, a journalist at OX Essays and Academized. “This can save you time if customers ever have a problem with the product they receive, and it’s likely to save you money as you’ll be cutting out unnecessary middlemen.”
3) Invest In Your Website
Building your website is the first big project you take on as a dropshipper, and it’s exceptionally common to rush this step as entrepreneurs are eager to begin making contact with customers – and bringing in sales. However, a website that’s been thrown together on the fly will cost you time and money in the longer run as you fix issues or even lose customers due to bugs in your code. Your website isn’t only the shop-front, it’s also the channel through which you communicate your professionalism to your customers and a site that looks rushed or feels difficult to use will lose you customers by the bucketload.
4) Select Your Shipping Service
Finding the fastest shipping service is part of providing overall customer service and in today’s eCommerce world people are getting impatient. If you can offer next-day delivery and product tracking you’re reducing the barriers to individuals ordering your products and you’ll be getting ahead of the competition.
“With so many shipping services on the market nowadays you’ll have to shop around to find the most effective option for your products,” says Keith Schillinger, a tech blogger at Big Assignments and Elite Assignment Help. “You’ll need to consider where your suppliers are located and the specific needs of your customers, for example if you’re shipping fragile goods.” Cutting down on shipping times will increase your customer satisfaction, but it also saves you time in another way – every second your products are in transit is a chance for something to go wrong. Once customers receive their orders a transaction is completed, so a good shipper is essential for an optimized service.
5) Automate Everything
Automation tools let you set-and-forget elements of your eCommerce business so you don’t have to waste time repeating mundane tasks. Dropshipping is already a highly efficient business model that uses automation at the heart of its processes, so it makes sense to leverage automation in every aspect of your business.
You can automate swathes of your customer service provision by using tools and add-ons in your website. For example, today’s chatbots are run by sophisticated AI and they can offer customers 24/7 support without you lifting a finger. Automation tools can incorporate new customer reviews into your website, build order confirmation emails and send delivery tracking information to your customers.
Optimization starts at the outset, as you’re building your store and choosing your niche – going with what you know saves you hours of painstaking research and gives you a head start. Further, networking and automating will save you time in the long run. Dropshipping is a fantastic business opportunity for new entrepreneurs – hack your way to the top today.
Kristin Herman is a writer and editor at Essay Roo and State of writing. As a tech enthusiast, she blogs about the latest trends in technology, computers, and social media. And, as a project manager, she has overseen many writing projects nationwide.