Dropshipping is a retail model that has exploded in popularity in the last decade, used by eCommerce business owners all over the world. Many would-be online merchants have been inspired to get their businesses off the ground thanks to the ease with which drop shipping is managed. Looking at the many successful dropshipping stores and exposing the estimated values of this market demonstrates that, in addition to being simple to operate, the dropshipping method can also be extremely profitable.
Statista estimates that the dropshipping market was worth $128.6 billion two years ago. Presently, this figure is estimated at 196.78 billion USD, and it is projected to soar to a mind-boggling 476.1 billion USD over the next four years. Considering these factors, launching a dropshipping business can be an excellent financial move.
But as a store owner, you will inevitably experience slowing sales and a halt in expansion. As with any business model, this is to be expected and should not cause you to question whether or not dropshipping is worthwhile. You can solve any problems you encounter by putting the right plans into action. You can expect to see an increase in productivity and a boost in both online and mobile sales throughout the year, especially during the holiday shopping season. We’ve done the legwork for you and come up with eight simple tricks you can use to keep your dropshipping sales climbing.
In just a few short years, social media platforms have become ubiquitous. Instagram, Facebook, and TikTok are all among the top ten most used social apps, and together they have amassed more than 4 billion users around the world. As a direct result, social media marketing has exploded to become one of the most important and influential forms of promotion, ushering in a new era in the field of advertising. That’s why it’s so simple to expand your dropshipping business’s customer base through the use of paid and unpaid social media advertising.
There are a number of approaches that can be taken to maximise the benefits of free advertising opportunities provided by social apps. If you have an Instagram business account, you can use Instagram stories, fun reels, informative IGTV videos, and creative posts with relatable and entertaining business captions to interact with your audience. Making videos on the popular social media platform TikTok can also help you attract customers by showcasing your wares in an entertaining and informative way.
However, with paid advertising, such as Facebook ads, you can control your ad campaign through Facebook ad metrics and reach your desired demographics and increase your visibility. More than half of US respondents to a survey conducted by Statista found that social media advertising had an impact on their purchasing behaviour. You can expect a substantial increase in dropshipping sales and overall business success if you make use of these advertisements.
The power of word-of-mouth advertising
Getting the word out about a store’s offerings is as old as the business itself, and it’s guaranteed to bring in new customers. Even in the modern era, word-of-mouth marketing remains effective because customers continue to talk about the products they’ve bought and the positive outcomes they’ve seen from using them. Customers’ ability to provide feedback on purchases has only increased the popularity of this form of information sharing.
This form of advertising can be very effective because of the weight that recommendations and peer opinions carry in influencing consumer behaviour. Invesp reports that word-of-mouth advertising generates $13.3 billion in revenue and $6 trillion in annual customer spending to back up their claim. These statistics show that this type of advertising will have a beneficial effect on your dropshipping business. So, don’t be bashful about enlisting word-of-mouth endorsements from loved ones. It’s likely that you’ll see a dramatic uptick in business once word gets out about your store from word of mouth.
Varieties of Products
Having a wide variety of products available usually helps increase sales, but this is not always the case. Your store’s bottom line will benefit greatly from carrying a wide variety of products, and this will ultimately lead to expansion and success. Having a wide selection of products in stock also helps you increase customer satisfaction and decrease dropshipping cart abandonment. In most cases, shoppers would rather have a wide variety of products from which to pick. That’s why it’s a lot easier to win their approval and loyalty if you offer a wide variety of products to choose from.
However, in most cases, your supplier will determine how many different ways you can offer products to your customers. You won’t be able to stock up on new items to sell if they aren’t providing you with a wide enough variety to choose from. Consequently, locating a trustworthy supplier is also crucial to the success of this strategy.
Let’s say you’ve decided to use Dropship Corporation for your dropshipping business, and your primary product is high-end handbags. This wholesaler offers an extensive collection of bags from a wide array of designer labels in an effort to boost online sales. That way, you can bolster your product offering and entice shoppers to make additional purchases.
It’s common knowledge that lots of people make purchases on the spot. Invesp claims that at least 84% of consumers regularly give in to impulse buys. Especially when presenting time-sensitive discounts, this holds true. When consumers see a product that is only available for a limited time, they worry that they will miss out if they don’t buy it immediately.
Thus, creating a sense of urgency about the products you offer is a highly effective strategy that can help your dropshipping business. Launching a product as a limited edition item or announcing an impending price increase are two good examples. Customers will feel pressured to make a purchase right then and there to take advantage of the sale price, or risk missing out.
Study of the Competitors
Knowing your rivals’ strategies and what you can do to outperform them will give you a leg up in the race for victory. The best way to accomplish this is to study the competition. If you put in the time and effort to learn about your top competitors, you’ll be better equipped to evaluate their business decisions, and, most importantly, to spot and correct any flaws in your own dropshipping practises.
If you want to successfully boost your sales volume, conducting this kind of research on your competitors is essential. If you keep an eye on what your competitors are up to, you can learn from their advertising strategies, figure out how they maintain high sales volumes, and apply this knowledge to your own dropshipping store to make it even more successful.
In the case of dropshipping, for instance, it is not uncommon for several different businesses to share the same supplier. As an example, if your shop sells designer clothes, chances are high that other businesses in your industry use the same manufacturer. If that’s the case, you should research the clothing market carefully to identify the shops that stock the same styles as you. You can learn how to improve your own marketing strategies to beat the competition by taking a closer look at their promotion and selling methods.
Refinements to the Content
Copywriting is an essential part of your dropshipping website. Every piece of content you create for your store must be reviewed and optimised if you want it to rank highly on Google’s SERPs or the pages of any other search engine. This will help you attract more natural visitors to your site, which in turn will boost awareness of your store. Therefore, if you want successful sales results, you must work to enhance your headlines, product descriptions, calls to action, Q&A information, and everything else. If you want your content to read smoothly, keep the following in mind as you write it:
- You should use the keywords your ideal customers use when searching for the products you sell, which can be uncovered through the use of helpful tools.
- You should use simple language that is clear and concise when describing your products.
- Make an effort to connect with your audience on a personal level by producing content they can relate to;
- Make use of attention-grabbing phrases and words that will compel consumers to take notice;
- Use a photo editing app tailored to the fashion industry to give your products an edge;
- Use this opportunity to highlight the value your products offer and how they will assist in meeting your customers’ requirements.
Cross-selling is another method that can be used to increase sales. The goal of this tactic is to sell more of your products to customers, not just the ones they’ve already shown interest in. Consumers are enticed to buy supplementary items in this way, increasing average order value. In addition to a rise in profits, this method also benefits businesses through a better overall shopping experience, increased customer loyalty, and a more reputable brand image.
In order to clarify the concept of cross-selling, let’s pretend once more that you run a clothing dropshipping store in which you offer a wide selection of garments and accessories. You need to find a way to subtly hint at the fact that these products are a fashion essential without which no look can be considered complete if you want to sell them to your target audience. Make sure to include a “customers also view” or “customers also purchase” section for jewellery and accessories whenever a customer clicks through to another clothing category.
Target Market Expansion
Our last piece of advice is to broaden your appeal and expand your customer base. You can expect a significant boost to your economy and some help in developing your company’s international presence as a result of this. You can still cater exclusively to the people who are interested in what you have to offer. However, you shouldn’t put restrictions on other types of criteria, like where they’re located. More markets served by your dropshipping store means more potential sales.
As such, it’s preferable to work with a vendor who offers both domestic and international shipping. Your dropshipping business will experience massive growth thanks to this strategy. To this end, it’s crucial to put in the effort required to locate a reliable dropshipping vendor with international shipping options.
Dropship Corporation comes to mind in case you’re thinking about selling branded clothing items internationally. This vendor ships to more than 170 different countries, with fast turnaround times, low shipping rates (as low as $15 per order), and reputable shipping partners like DHL, FedEx, and UPS.
If your dropshipping sales are falling short of your targets, having a few backup plans can be very helpful. With the help of the sales advice presented here, you should be able to quickly recover from any dips in business. Implementing tactics like the ones we’ve covered here will not only help you earn more money, but also give you an edge over the competition, attract new customers, and expand your reach into new domestic and international markets. Therefore, by considering our sales strategies, you will be able to raise sales and maintain a steady stream of loyal customers.