How do you make money with shopify.com Dropshipping?
Shopify is a platform for e-commerce where you can start your own online store. It is a well established and reputed platform that is used by many for passive income generation. The platform offers all the required tools such as hosting, domain, and payment gateways. It has grown to be a very large system and is perhaps the best way to get a headstart into online marketing. You get plenty of chances to succeed. Even huge companies such as Wikipedia and Pixar rely on Shopify in order to manage their online stores.
The one good thing about Shopify is that it provides you with all the necessary tools to design your store. You can choose from several different layouts. Basically, you have a full control over the entire design. For logos and other special effects and graphics, you can use the Adobe Photoshop. By coming up with an appropriate design, you will be able to make your store more appealing to the customers. This can help in gaining more traffic and therefore, more conversion.
Why is Dropshipping the best way to make a passive income?
If done in the appropriate manner, dropshipping can be a great way of making some extra income without having to discontinue your daytime job. It is easy to manage and also does not require you to handle the products you are selling. But what exactly is dropshipping? Well, it is a form of online business where you can advertise a product on your store. However, you do not necessarily have to keep a stock of the product. Whenever an order is made, you can purchase the product from the manufacturer and have it delivered to the customer.
So basically, it is like acting as a middleman. You purchase inventories from a wholesaler or a manufacturer and have it delivered straight to the customer. You may never even see the products during the entire process. However, it offers you the scope to make a good amount of profit. Say, for example, you can purchase a product for $10 and have it sold for $18. So, you will be making a healthy profit of $8. There are various benefits that can be attributed to Dropshipping. Some of these have been mentioned below.
- It is the easiest form of online business. You do not have to own a warehouse or manage stocks. You also do not have to handle the packing and the shipping.
- You can start off without having to invest a huge sum as the capital.
- In dropshipping, you do not have to purchase a product until and unless a customer places an order. This ensures that there is 100% sale.
- The management cost of a dropshipping business is extremely low. In fact, you can have it entirely managed through a laptop, right from your house.
- Dropshipping business can be managed from just about anywhere. Furthermore, business does not get hampered even when you are constantly changing locations.
- You can deal with a wide range of products, all at the same time.
- Dropshipping business is very easy to scale. You will have an exact measure of your profit margin at any given time.
Getting started with Dropshipping in Shopify
The very first step to getting started with Dropshipping over Shopify is to create an account for yourself. This will require you to provide your personal information and email address. When this is done, you can start creating a store anytime you want. There are hundreds of themes available for the site. You can choose any and also have it upgraded from time to time as per the need of the store. Select a suitable name for your domain, the one that gives an impression of reliability and trustworthiness. And last but not the least, it is important to categorize your store under the appropriate niche. This will help you in attracting the right target audience with greater ease.
How to maximize your profit through Dropshipping in Shopify?
Simply dealing in products is not really helpful unless you are able to make a good amount of profit through the business. So how do you maximize your profit? Well, the most obvious way is to purchase products at a cheaper price than they would normally cost. For this, you will have to keep an eye out for manufacturers who sell their products at highly subsidized costs.
The other way you can increase your profit margin is by selling a large number of products all at the same time. If you are a little confused regarding the products, you can also check out the various online Dropshipping stores for an idea and then, prepare your own list accordingly.
However, it should be noted that during the first few months, you will not have a lot of profit from your store. So you will have to put more effort into increasing your visibility. At the same time, it is also very important to go for products that allow you to keep a fairly decent profit margin or it can get increasingly difficult to support yourself.
Other important strategies to improve your sale with Shopify
- Using Keyword optimization
Take out some time for keyword research. It is very important that customers are able to find the desired products while conducting a search. Search Engine Optimization can add a lot more profitability to your site. Having the right keywords scattered throughout the site is one of the most effective ways to boost sales.
Placing lucrative offers on the products is another way to attract more customers to your store.
Email marketing can be a great way to increase traffic to your website. The visitors may not make a purchase the very first time they check out the store. However, the chances for a future purchase are increased.
Shopify is definitely one of the best platforms to start a dropshipping business. In the beginning, you may not make huge profits. However, you will still be able to earn a decent income. Furthermore, if you put in more effort into your site, you will eventually get more traffic and therefore, more profit.
As always I believe the best way to make money is to start a blog. Read my post on how to make money with blogging to get started.