4 Key Strategies To Grow a Six-Figure Drop Shipping Business

Key Strategies

So you’ve opened your dropshipping business. Now how do you really start making the big bucks so you can throw Amazon out of business? So what are some key strategies you can implement?

The ease of dropshipping is that you have all the products you could need at your fingertips, so you must get proactive for how you can differentiate your store, provide a unique shopping experience, and keep your customers coming back for more.

Here, we’ve laid out four key strategies to implement within your dropshipping business in order to see those revenue numbers soar.

DEFINE YOUR VALUE PROP

When utilizing dropshipping, you are selling products that many other ecommerce store owners have access to. In other words, you’re oftentimes promoting the same thing as your competitors. That’s why defining a value proposition is so critical. In layman’s terms, a value proposition is a statement that explains what unique benefit you provide and to whom, and how you are doing this well.

Another key component is identifying and framing the problem, and being able to communicate how your store and its products are solving it. In order to do so, a related element is understanding your audience. Who are they, what do they want, and how can you help them? Having a specific idea of who you’re selling to lets you craft the perfect value prop that helps customers come to you over another store. And once those orders start flying in, make sure to automate product loading — from bulk editing options, to in-app image options and product filters — so nothing slows you down.

CURATE, CURATE, CURATE

Less is usually always more. As a store owner, you have to be a product researcher and incredible curator who finds the best, not the most, product, that fits within your value proposition. For instance, if someone is coming to your store to buy a toothbrush, they don’t want to be inundated with 5,000 different brushes to choose from. They’re coming to you based on your expertise to show them the best toothbrushes to buy.

Of course you can still offer variety, but do so in a smart way that doesn’t present too many options to your customer. Additionally, as you develop your niche, you have to be really smart about what wholesale distributors you work with. Many don’t carry everything you need. It’s common — and smart — to work with multiple suppliers. Having more than one also reduces the likelihood of stockouts, especially if there is good product overlap.

PROVIDE AMAZING CUSTOMER SERVICE

Another differentiator in the dropshipping business is customer experience. While customer service takes time, with hours saved each week through dropshipping and automation, it’s well worth the investment. When working with a wholesale provider, they never speak with the customer directly, so it’s up to you to create seamless service for prospective and current customers. This means things like getting back to inquiries quickly and friendly, asking for product reviews, and dealing with returns and botched orders with professionalism and a smile. Consider other tactics like offering special discounts and deals, and make sure their checkout experience is quick and easy. (This is especially important for mobile, so make sure to test your store on a smartphone!

MARKET SMART

One of the best benefits of an automated dropshipping business is the time saved so you can focus on what really matters: growth strategy. A huge component of this is implementing smart marketing tactics. Now, don’t worry: There’s a way to market well that is still low-cost and effective, which is especially important for small business owners who are fresh out of the gate. A few tools and tricks include both paid and unpaid solutions. Google and Facebook Ads are great paid options, because you can target to a clearly defined audience that are known to have solid conversion rates. To open up the funnel and find new customers, social media platforms like Pinterest and Instagram offer a chance to visually sell your product with enticing images that help generate new leads, free of cost.

Making millions won’t happen overnight, but there are some smart tactics anyone can put into place that can lead to exponential ecommerce growth. Start here, and see how your store can begin to boom.

 

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