The trend of Dropshipping in Market Place – Destined Boy
This is Destined Boy – Dropshipping
Is dropshipping a medium of generating more income?
Since dropshipping is the channel of shipping products straight to your consumers from a third-party supplier.
Which means you act as the middle man between the consumer and the supplier.
Consumer – You – Supplier
The supplier delivers these goods directly to your customer.
But does dropshipping worth investing in?
Since looking at it from the angle of building a fully-functional ecommerce store like Shopify or an off-the-shelf site like WordPress for your target customer.
Does it worth the investment?.
How come these companies don’t offer their products directly to customers?
Some companies in Nigeria prefer having a dropship retailer, i.e, you’ll be selling for the companies or brands who don’t sell to the public.
They prefer having an individual that is willing to sell and promote their goods and services and expand their business to reach out more to potential customers.
And once you get approved by these companies, then, you’ll be eligible to sell their products on your Shopify store platform.
So, whenever customers make an order, then you make contact with your suppliers, the suppliers delivered the goods to the customer.
All you’re doing is fulfilling the much-needed agreement with the dropship supplier to market their goods on your store.
After compiling the price lists and put their products for sale on your site. when someone purchases, you contact the distributor.
You only order the product once the customer has paid you. The fruitful truth is that your list tag and what you pay your distributor is the net profit.
For instance, if you tag a product to be 1500 Naira, and your supplier billed you for 1250 Naira, your profit is 250 Naira.
Dropshipping Model
Is dropshipping an ideal way to make more money on the internet?.
Ecommerce giants like Jumia, Aliexpress, Konga, etc enables you to retail as an individual or develop a store, inside their website.
They are all incredible business model you can channel as a third-party store to sell your products.
But it is preferable to have your own full-functional ecommerce store, which makes you monitor the transaction process and get the full details of your transaction inventory.
Full-functional ecommerce site like Shopify provides more features like managing inventory, customer details, billing information, third-party payment method, etc.
Market place
Let’s say you finally know the channel you want to sell your products whether aliexpress or you going for your full-functional ecommerce site.
The question now is, what exactly do you want to sell to these great audiences?
Some people go for the importing product option.
While some people prefer looking for a supplier that has products to sell and they’re trying to find individuals to resell their goods for them.
1. Find your Niche
Firstly, you have to determine what you want to sell.
Knowing your niche will give you a better understanding of the market place and what you want to achieve.
And it brings more focus and direction towards your plans.
Competitors
Identifying your potential competitors and what they are up to will help you set a unique selling point.
A unique selling point is what differentiates you from others.
It tells your target audience, what benefits and values you have to offer them and why they should care about your products.
Find out what makes them unique online, what are they doing to drive more traffic and sales to their ecommerce store.
It is better you know what they are up to before launching your dropshipping store.
Once you have your store up and running, then you can start making phone calls and sending emails to potential dropshipping suppliers to get approved with them.
Since the only way the suppliers can approve you is when they notice or confirm you have a full-functional ecommerce store. Then,
2. Optimize your site
Optimizing your site is the only way you get more conversion i.e sales.
So, it is better to attract the quality of people than quantity.
Because having all the traffic in the world but if they don’t purchase any of your products, it is irrelevant.
Due to that, make it easy for users to navigate, browse through, and accomplish what they want easily.
Also, categorize your products and include a search button on your site. Which makes your visitors scan what they want to accomplish in the quickest manner.
Due to that, make it easy for users to navigate, browse through, and accomplish what they want easily.
Also, categorize your products and include a search button on your site. Which makes your visitors scan what they want to accomplish in the quickest manner.
Also, you need to attract the quality of traffic, people that will turn to potential buyers.
And this can be achieved when your site is a resourceful and trustworthy place to visit; therefore, your conversion rate will steadily improve.
Read: How to improve your search engine ranking fast
3. Paid traffic
Before people can order for your products they must have encountered your touchpoints.
They must have to build trust and a better relationship with your business.
You can leverage on paid ads to trigger more traffic to your store.
But try to understand who your target audiences are. Segment them based on similar interests.
Study their behaviors and retarget those that haven’t converted.
Read: how to promote your business with ad
4. Blogging
The more you blog, the more traffic you get and the more revenue you generate.
Search engine optimization is another medium for generating free traffic to your ecommerce store.
The only way to generate more quality leads and sales than your competitors is to blog frequently and consistently.
Research has shown that businesses that blog consistently generate 65% more leads than businesses that don’t.
Also, every online shopper's journey starts from the search engine
Poor SEO might lead your business to lose out to these great customers.
While Good SEO makes the search engines to find and understand your site.
Also, start building an email list and a database of your potential customers.
Send them relevant content of your new products i.e letting them know what is new.
Also, every online shopper's journey starts from the search engine
Poor SEO might lead your business to lose out to these great customers.
While Good SEO makes the search engines to find and understand your site.
Also, start building an email list and a database of your potential customers.
Send them relevant content of your new products i.e letting them know what is new.
Read: how to grow your blog for a higher authority
5. Third-party selling site
At times, some people prefer selling to a third party selling site to generate more money.
Although, if your store is doing great i don’t see any reason why you should go for a third party site.
To avoid complexity is better you focus more on your ecommerce store.
Operating your own ecommerce site gives you an edge in your niche.
Running your business with other third-party selling sites will reveal more about your competitors and their cost or price tag.
But if you’re running your own ecommerce platform, they’ll be able to browse through your store only until they reach a purchase decision.
When you run your dropshipping store, you have a lot more traffic sources accessible to you.
6. Benefits
With dropshipping, there’s no need to store inventory on hand, which saves your business the time, labor and monetary.
It doesn’t require a physical shop.
And the most significant benefit of dropshipping is that the store owner only buys the product when the customer does.
Conclusion
And the only way you can improve your stake of success is to do a little survey first. And that begins with choosing the best dropshipping sellers in Nigeria or abroad.
You can leverage on third-party payment like payU or PAYstack in Nigeria and register your business with CAC.
I hope you found the article helpful? Please kindly comment, subscribe, and share it.
I am Destined Boy. A certified Digital marketer.