How to Earn Money from Dropshipping Business
What is Dropshipping?
Drop shipping is a business model where you never actually own the inventory for selling. In other words, you are the middleman who sells the products in your website and when you receive the order you pass on to the Dropshipping site. Your profit is the difference between what you charge the customers on your website and what the Dropshipping company charges from you.
Here are the steps below:
Step 1. Build a Website
Creating a site makes it look as though you are ready to start making sales. It should be appealing to potential suppliers.
The minimum requirements for the website are:
A. 10-20 demo products uploaded.
B. Proper contact details.
C. The primary goal is to get approved by your suppliers so that they can trust the credibility of your website.
Step2. Product Selection
Choose a hot selling product category list that will make you money. The Product Selection phase consists of significant steps.
Researching Suppliers The best way to do this is to check About Us and Contact Us pages of the website. If they do not have a physical location then you are the right track. Because, if they are a drop shipping store then that means all of their suppliers are willing to drop ship.
Choose a Product It is essential to select products that price between Dollar 200 to Dollar 1000. This way you will be able to cover your required profits which will become more comfortable for you to make money.
Right Target Market It is essential that you target upper or middle-class families. Choose those products that appeal to them.
Step 3. If you have followed everything up to this point, now you need to generate traffic, leads and convert them into sales.
Step 4. The best way to drive traffic to your site is Pay Per Click(PPC). It becomes easier to analyse the traffic that is converting vs the traffic that is not converting. The other ways to drive traffic to your website are SEO, SMO etc.
Google Shopping is a very robust shopping platform where you can advertise your products for getting more conversions.
The essential steps that you need to follow
Continue to get approved by more suppliers so that you can offer more products.
Increase your traffic sources.
Optimize your store for conversions.
Start selling related products.