Dropshipping has earned a huge popularity over the year as many millionaires have been born from it. For which many people are going crazy to invest their time and money on it.
Though there are many ways to make money when starting an online store, one of the ways is to start producing your own products. But it will cost you a lot of money and time to produce and there is more risk in investing on your product. You have to store your inventory and would only increase profit when you start selling almost 80% of your product which is quiet difficult to handle if you’re new.
The easier way would be dropshipping where you don’t have to worry about transportation and delivery of the product.
Dropshipping is a great platform to be an independent entrepreneur. Many new entrepreneurs are coming out through dropshipping and making millions of dollar from it.
So, because of which over the past few years the competition has also risen for which it has become a little difficult to gain success in dropshipping. You need to invest your time and money and in this process learn new skills in order to start making money with dropshipping.
But if you master the skills and knowledge of making money with dropshipping, you will be fine in future for you will be able to tackle the problems that you are going to face in future.
What we mean is that dropshipping in 2020 is not as easy as it used to be 10 years ago. It takes a lot of efforts and hardwork before actually making any profits.
If you really want to earn money with dropshipping
there are some points which you need to keep in mind before even investing your time and money on it.
We have made some points for your convenient to make things a little easier to understand.
What we will discuss here,
- Customer Satisfaction
- Challenges that would arrive
- Is dropshipping still profitable?
If you’re new to dropshipping always remember to prepare yourself before starting the business. Now the question is how to prepare.
Well for preparation there are some areas to be considered like what products should you start marketing, how to market etc.
The best way would be to work on a single particular niche which will lower the competition and make it easier to know what product to sell. Some of the niches which are popular on the internet are health care, gym equipment, clothes etc. These are some of the niches you can work on if you’re new to this business. Many experienced entrepreneurs also open multiple sites for single niche through which they can target in all areas and make multiple streams of money.
After selecting your niche, it is required to set up your site through which you’re going to showcase your products. For setting up your site there are many platforms where you can set up your site like shopify , Amazon,Magento etc. In order to create a website first you have to select your domain name according to your niche and after that buy the domain name that you selected from a decent website.
You can basically buy domain from any site but the hosting that you need to control your website should be bought from a good website like Godaddy, Bigrock, shopify,siteground etc.
Most of the dropshippers prefer shopify as their hosting as it provides you to have control over the whole functions of your site directly and are quiet fast in loading thanks to its worldwide CDN. Shopify is a great platform to start with but their plans are a little expensive compared to other hosting but here you get all the plugins that you need directly on your hosting. Everything is included in their plan and you don’t need to buy extra plugins for it.
Yes, customer satisfaction should be the upmost priority in order to start making money with dropshipping. You may not have the control over the quality or shipping of the products but you can increase the quality of service. It is better to be with a partnered with a good manufacturer whom you can trust for their quality and customer satisfaction.
Most of the manufacturer for dropshipping is based in China so their delivery of the products usually takes 2-3 weeks or more to deliver the products to the customer. So, you should be clear about the delivery so that you don’t lose any customer.
Your user interface should be simple for customers to understand and should be convenient enough so that it doesn’t confuse your customer and stay engaged to your site. Most of the new entrepreneurs who start their business on dropshipping ignore customer satisfaction which is why most of them fail to succeed.
Also problems arise when customers return their products due to some reason. Maybe they didn’t like the product or was send the wrong items by the supplier. Reasons could anything so you should be ready to deal with such problems as almost 27% of the customers return their products.
Related: Is dropshipping dead?
How to deal with customer
- Build trust among customers so that they return to your site for more products which is a good sign.
- Take customers feedback so that you can improve your quality services and also make customers happy.
- Stay up-to-date so that you don’t miss anything.
- Stay clear with your return and refund policy so that your customers know before buying any products from your site as it will help you to build trust.
- Also stay clear with the delivery of the product.
Challenges that would arrive
As a new entrepreneur you would face many challenges that would arise if you want to start your business on dropshipping.
You would have to deal with other competitors so that you could drive traffics to your site. It won’t be so easy for you to start with but you have to adapt with the situation that is going to arise.
Dropshipping isn’t as easy as people say it to be and also not as secure as people consider it to be. You and your customer may get scammed by the supplier as you don’t interact with them face to face. There is a high chance of getting scammed if you are not dealing with a reputed supplier. So, it is recommended going for a reputed supplier who has good customer feedbacks.
Is dropshipping still profittable
So, the question arises about if you can still make money with dropshipping. With all the details we discussed above if you go through it step by step you would eventually see success.
Despite all the difficulties dropshipping is still in business and you can still make a huge profit from it. You do not gain success overnight, you need to dedicate a lot of your time and efforts on it and remain consistent over the period of time. It is easy compared to other traditional e-commerce business as you don’t need to work for the whole day. But that doesn’t mean you don’t have to work at all. It requires a lot of hardwork and patience to succeed in dropshipping.
Though it is not free you’ll have spend money in maintaining your store, marketing the product that you are going to sell. Still you’ll find success if you are true to your work and learn through the process.
We hope you got your answer, if you have anymore query please comment below and also subscribe to our website for more exciting knowledge.