Category Archives for "Drop Shipping"
One of the biggest challenges when starting a new online store is deciding what to sell. How do you know if a product will sell well or not? Nobody likes to waste time because after all, time is money!
What if you had a way to spy on 1000’s of stores. See their top-selling products, which Shopify theme they’re using, which Shopify apps they’ve installed. And what if you could filter through 200K stores to spy on certain niches and categories. There IS a program that can do all of this and much more…
If you happen to be one of my drop shipping students, you will know that I’m not a big advocate of drop shipping from AliExpress, but at the same time, I realise that many of you want to do it anyway 🙂 So, for those of you who want to drop ship from AliExpress, you will also get access to the Inspector tool, which uncovers the best selling products on AliExpress. Even if you are not using AliExpress, and even if you are not drop shipping, you can still use this tool to discover which types of products are really hot right now!
Earlier today I got some really interesting drop shipping questions from one of my new students and decided to post them here for the benefit of anyone considering drop shipping. I’ve not named the student for privacy reasons because these questions were posted inside the course Q & A area, but here are his exact questions, along with my answers:
1) Which e-commerce websites rely on the dropshipping model?( I’m asking because I’d like to see some online stores best practices which I can use as a model)
“Lots of them! Even big online stores like Zappos, but you would never know simply by looking at the website. Here’s another autoanything.com. I LOVE the look of that store! Blinds.com was built entirely on drop shipping and made the owners very, very wealthy. In fact, they sold the store for something like $50 million.”
2) What are some failure points for beginning dropshippers? What are some reasons that people getting into dropshipping give up?
“Good question. Cutting corners is one reason. You can’t succeed if you don’t put in the effort to create a store that visitors would want to buy from. Tenacity is another reason, but this is no different to any kind of business. You’ve got to stick with it. Resourcefulness is another. That’s not to be confused with ‘resources’ because you could have two different people, one with $10,000 to start his business and the other with $100. The person with $100 could easily be the one to succeed, while the person with $10,000 fails. Resourcefulness is more about using what’s available to you in order to overcome challenges and find solutions to problems. We all have the Internet and we all have a brain. We can use these things to solve problems and move forward.”
3) What are some reasons that online stores which uses dropshipping fail?
“There are many and some are listed above. Other reasons would apply to any online store, not just drop shipping. Not enough traffic is one, and in which case you just need to work on getting traffic. Poor quality products, poor customer service. Again, these things apply to any online store. I suppose the one thing that’s really different is that we are not in control of the orders being shipped out. This means that whenever you start with a new supplier, you need to be watchful. If you start getting multiple inquiries from customers about orders being late, that sort of thing, then you need to try and fix this with the supplier and if you can’t, ditch the supplier and find a replacement.”
This is a really valid question. I can almost guarantee that if you are thinking about setting up an online store, then you have at very least some niggling doubts about whether or not it’s possible to compete.
For most people, Amazon is the big beast and the one they feel most ‘afraid’ of. After all, Amazon have huge resources. They can launch in a new market and afford to run at a loss in that market for years if they want to.
How can you, as a new small business with limited financial resources, even hope to compete with giants like Amazon?
You can, but not in the way that usually springs to mind first. Price.
In fact, you should never even attempt to compete on price with stores like Amazon because you will lose almost every time.
However, you can compete in other ways, and these other ways are generating billions of dollars in e-commerce revenue for the ‘little guy’.
Think about it this way; If it were impossible for a new e-commerce store to succeed, then why are there still many, many new stores going from zero to $10’s of $1000’s in revenue a month within a relatively short space of time?
You can succeed, but only by choosing a specific niche and making your mark on that niche.
By making yourself an ‘authority’ in that niche. By providing value on your website – over and above the products you sell. This means you need to create content such as blog posts, articles, and anything else that will give value to your store visitors.
Let me give you an example:
Let’s say your store sells golfing equipment. Instead of just selling golf supplies, you could also provide a wealth of information on your store. Such as tips and guides on how to improve your golf, tips for complete golfing novices, best places to learn how to golf…
You could also have a live chat app running on your store. Even if you only have it running for a couple of hours a day, you will convert a lot of visitors into buyers that way.
There are tons of different ways to make your store stand out.
The main point here is that price is not everything and it’s certainly not the only factor in a customer’s buying decision. If it was the only factor, there would be no retail industry. It would be a constant ‘race to the bottom’ to sell at the lowest price and the whole thing would just collapse!
So yes, there is still plenty of opportunity out there for anyone with the motivation and determination to succeed with a new online store 🙂
Want to know a quick and easy way to turn more of your store visitors into buyers?
Add a simple animated video to one of your pages.
You could do this on any page, but it’s really effective on the ‘About Us’ page or the ‘Delivery Information’ page.
So what should your video be about?
If it’s on the ‘About Us’page, you could create a short video to inform visitors about your company/product line/customer service. If it’s on the ‘Delivery Info’ page, you could create one that explains your delivery times/policies, along with information about returns and refunds.
Here are some ‘Do’s’ and ‘Don’t’s’ for your video:
Starting your own e-commerce store has never been easier – and more difficult – than it is today.
So what does that mean? How can be it be easy AND difficult at the same time?
Okay, let me explain . . .
It’s easy because you no longer need technical know how. Low cost, user-friendly and purpose built online store platforms have taken care of all that, and now almost anyone can set up a half decent store without too many headaches.
It’s easy because online shopping is a fast growing industry and the more money that consumers spend online, the more opportunity for new online store owners to make their mark.
It’s easy because many wholesalers are now willing to drop ship for online retailers. This means you can start and operate without ever investing any money in stock. In fact it’s more than possible to get going with as little as $100 – $200 in your pocket.
Sounds amazing right?
Yes it does and that’s the problem. Because it sounds SO easy, it attracts hoards of wannabees who are under the misconception that all they need to do is throw up a website, list a bunch of products and hey presto, cash in the bank!
If it really were THAT easy, almost every new online store would succeed. But they don’t. In fact 90% of them fail miserably.
But it’s not as bad as it sounds. Most failed online stores, failed for very specific reasons. The two biggest causes of failure are:
To succeed, you need to master the art of getting traffic to your store and then converting that traffic into sales. One without the other is useless, you need both.
Fortunately you don’t need deep pockets in order to promote and market your new store online. Most of your marketing can be done without spending any money at all. Getting your visitors to buy from your website requires some ‘know-how’. Some new online sellers think it’s all about pricing their products as low as possible.
In fact you could charge higher prices than your competitors, but get more sales than they do. Pricing is only one small part of the equation and it’s way down the list as far as ‘what makes people want to buy from you’.
Want to learn more?
Master Class is a complete course containing over 100 video lessons. It will teach you everything you need to know. From choosing profitable products to sell on your store, to setting up your store the right way, to promoting your store online using free and low cost methods, and much more.