If you run a dropshipping business, the two things you often think about are increasing your profit and reducing expenses. It is really a time-consuming and long process to achieve the results on your own.
So, we've done the foot work and researched how you can increase your profit and reduce your expenses.
3 ways how to increase your dropshipping income
Use cashback services for business
Do a marketing activity
Work with Shopify apps and data tools
1. Use Cashback Services
What is Cashback and how does it work?
Cashback is a service that refunds you a certain percentage on the orders you make from suppliers. It works with with well-known advertisers, such as Aliexpress, Alibaba, GearBest, etc which will pay you a high rate on the purchases you make.
Cashback is a very useful tool to reduce your expenses; with this saved money you can reinvest it in your business.
Benefits of using cashback:
You save money on (bulk) purchases.
Increase the initial margin.
Work with different suppliers that offer cashback.
How to choose a cashback service for dropshippers
Here are the main things to pay attention to when choosing such a service:
Automated technical tools,
A list of suppliers,
Detailed statistics and reports,
24/7 support team.
It is better to find a cashback that has benefits for businesses - technical solutions, good rates from suppliers and a wide range of merchants.
Example of cashback services
Admitad is a b2b cashback site. It specializes in providing cashbacks to entrepreneurs, dropshippers and dropshipping services (review apps, fulfillments), small merchants and businesses, and more.
This service works with Aliexpress, Alibaba, GearBest, Americanas and other suppliers; it offers competitive rates on purchases, introduces an automatic solutions and extension tool of getting cashback, provides with 24/7 assistance, and assigns each dropshipper a personal manager.
It is very easy to start working with Admitad Cashback:
- Register on the site (absolutely for free)
- Apply for Aliexpress (or other) supplier program
- Use tools to buy products
- Earn cashback in 1 click
2. Refine your Marketing
Today dropshipping and dropshippers should be active on a global scale. Here are some recommendations if you want to succeed in a marketing field :
Consider the SMM (Social Media Marketing) strategy
Set a goal (what results would you like to achieve) and consistently post to your social media pages content that is useful and in line with your goal. Remember that Instagram is a picture and entertainment network; so, mix selling posts with other information (lifehacks, educational and fun content).
Promote your shop on free forums
Talk with users about your products/business on forums such as Reddit. When doing so, remember to be supportive, do not sell directly, but offer solutions to clients’ needs; it is a more effective strategy than direct sales. Show the your expertise in your field. Build a relationship and credibility with the users so that they and feel safe with you and they can rely on you.
Start a YouTube channel with products overviews
Video-content is a great tool in setting a reliable relations with users! show your items in a casual manner or manner that is consistent with the image you are trying to project. This way, viewers and clients will believe you when they see the product and understand its value!
Develop a Tik-Tok blog with your items
Similar to video content on YouTube, you can create video content on Tik-Tok. This is especially a good platform to use if your clientele/target market is younger. When using TikTok, make sure that your content attract attention quickly as each video is only 60 seconds.
Start a Pinterest page to promote your store
Pinterest is a cool way to introduce your shop and products. What's more, your clients can see your items in a pin and if interested, they will be redirected to your shop!
Start partnerships with bloggers
Work with influencers to promote your business and products - send them products for reviews, offer cross-promoting posts, or start giveaways.
Initiate a cross-marketing collaboration with entrepreneurs
If you sell sports equipment, offer a partnership to gyms and sports schools. If you deal with beauty and cosmetics, find and work with beauty salons or local beauty shops.
3. Work with Shopify Apps and Data Spy Tools
It is vital that you use different solutions to automate and optimize your sales. Check Shopify and its data tools lists to be up-to-date and get a high conversion rate for your store.
Shopify offers lots of apps to increase the sales of your dropship store. Here are some examples:
PushOwl Web Push Notification - This app will send a push notification to a customer that left your shop without completing or making a purchase. These push notifications will remind the user that they forgot to proceed to checkout and send a link to their checkout cart.
Free Traffic & Ads - This is a free ads exchanger by Varinode. The service puts your products ads on other Shopify shops. So, you will get customers from stores that are similar to yours.
Fera Product Reviews - Offer your customers a way to be part of a loyalty program. Customers can collect points which they can then use at your shop later. It helps create a relationship between them and your store which causes them to be a repeat customer and make repeated purchases.
Booster - Discounted Upsells - Gives lots of upselling options and techniques. Your customer is will receive notifications to increase the amount in their cart to get free shipping or a discount. Booster will also give you recommendations on what items to upsell.
Omnisend Email Marketing - Increase your sales via effective marketing, with ready-made email templates. This app can help you to bring back return customers and get new ones.
It’s very easy to work with these apps. Search on Shopify apps marketplace and install it to your store. There are both free and paid options; remember to read the description and choose one which covers your needs.
Product research tools (or data tools)
Product research tools (or research tools) are the tech solutions that provide you with all the analytics needed for the dropshipping stores. With automatic scanning they find top items from the suppliers and show a range of winning niche products on the market. These solutions also introduce the lists of top sellers from Aliexpress, eBay, Amazon, Shopify stores and deliver the information on the best ecommerce groups, apps and services.
Why is it important to work with them?
- Their software save you time and, as a result, money.
- You sell only the most popular and most often purchased products.
- Avoid low conversion by monitoring competitors’ results.
- Get a list of useful services which can help automate your store.
- The services keep an eye on the niche and dropshipping trends for you.
Take a look at the following services:
EcomHunt: This platform supports Aliexpress, it will show you popular products, trends in dropshipping and give you useful tips and a performance tracker.
Commerce Inspector: This software covers the best-selling products, dropship insights, gives you analysis of your competitors, and more.
Sell the trend: Offers you winning products with great margins, AliExpress popular product trends, Shopify shops explorers, importing and fulfilling orders.
You can easily find these and many other product research tools online using any search engine. You can discover the most interesting and effective sites for you and your eCommerce business.
These three simple tips are suitable both for starting and experienced dropshippers.