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Can You Really Make Money Dropshipping? 7 Tips for Success

Making Money Drop Shipping

drop shippingMany people who get into drop shipping fail just as fast. This is because drop shipping faces unique challenges and if you are not prepared for them, you can easily drown in all the issues. The failure rate is extremely high but those who do make it have worked very hard to overcome the challenges.

Personally, drop shipping, for me was a game changer. Not only because I was able to make money from it, but also because it changed how I think about retail. Hitting several bumps in the road made me realize that I had to understand retail psychology because drop shipping isn’t as easy as selling brownies door-to-door.

With this in mind, the first logical thing I did was consult people who were already doing well in the drop shipping business. Actually, I looked for people who were not only doing well but who were making profits – because, you know, I’m all about that high-pressure, high-achiever life!

It was difficult to find these experts as they are like hidden gems on the internet that are full of so much wisdom. This didn’t stop me though and I ended up finding a few who were willing to give me some great advice at a small fee.

Talk to experts in my #1 recommended program any time of the day or night for FREE with live chat.

These 7 tips are a result of time, sweat, tears, and money that I put in in order to make a successful drop shipping business. So whoever you are, do not think that you are unique and that these do not apply to you, because if you are just starting out drop shipping, they will definitely be of use to you.

Higher Cost Goods, More Profit In Drop Shipping

1. Go for high price points – Goods with a higher ticket price will have a higher margin. When I first started out, I focused more on volume and getting a few pennies in profit from cheaper price points. Oh, how wrong I was! It takes as much time (if not more) to deal with a low-end customer as it does with a high-end one.

If you have both high-end and low-end goods, by all means, list the high-end ones first. Over times, I found my ideal price point to work with was anything above $1,000. I managed to make profits by focusing on that price point. As a general rule, however, dealing with goods that fall between the $800-1500 range set me up for success.

Customer Service Key In Making Money In Drop Shipping

how to make money in drop shipping2. Great customer service is key – At first, I did not enjoy talking over the phone with people all the time but guess what, it didn’t matter. When a customer calls, pick up the phone! You should never, ever let a customer go to voice mail. One downfall, you are always on call and you need to handle them in a professional way.

Once I understood that the customer is what stood between me and my desired profits, even if I had to postpone a bathroom break to answer the phone, by all means, I did it. Once business had picked up and I just couldn’t handle the volume of calls that were coming in, I hired a virtual assistant (VA) to answer calls for me. (another expense)

Closing The Deal, Very important In Drop Shipping

3. Close that deal – Customers would call me and make inquiries about my products which I would willingly give and hope that they would buy the goods. I can tell you for a fact that hope did not make me any profits. I had to be deliberate bout how I spoke to potential customers and convince them to buy my goods – in the shortest time possible.

For this, I had to learn to sell. I could not possibly be on phone for hours with one customer only to have them not buy anything or only buy one thing with a low margin. I trained my VA’s to ask open-ended questions to figure out what the customer wants and tailor their responses to sell. Rewarding my VA’s for sales made was a great motivator.

Must Keep In Contact With Your Drop Shipper On Inventory

4. Ensure availability – Do not sell thin air! This is by far, one of the lessons I learned the hard way in my first couple of months drop shipping. I was really excited that I was finally making money that I over-estimated my stock. The best thing about drop shipping is that you do not have to keep an inventory, but this is also one of the worst things about it.

I did not have to worry about storage space or the administrative costs that accompany it but I also did not know how much stock I had available. My solution for this was getting daily reports from my suppliers about what and how much they have in stock as well as projections.

Reliable Drop Shippers A Must

making money with drop shipping5. Fulfill your customer’s orders – This was one of the things that would make me pull out my hair. Mostly because it was rarely in my control. Having reliable suppliers is one of those things I would not compromise on. Getting a great rating after failing to fulfill and order is almost impossible.

Even when I did have reliable suppliers, sometimes, things did not go as planned. I found that keeping my customers in the loop and giving them a new ETA beforehand went a long way in fostering a good buyer-seller relationship.

Choose Your Timing Carefully

6. Choose the right timing – Timing when I listed my products played a significant part in establishing higher profits. Timing your listing during peak periods will ensure that they are more accessible. I had to evaluate my products and figure out when people were most likely to buy them.

Drop Shipping Has It’s Learning Curve

drop shipping7. Multiple listings – I found a way to minimize the amount of work I had to do per order by posting items as multiple listings. As long as I had one compelling list, I just had to process each individual sale as it came in. What I did was I selected a longer duration for products with multiple listing to avoid having to re-list before all the items were sold.

Drop shipping really can make you a decent income if you are willing to put in the work and learn a few new concepts and it takes time to establish your brand. You can look at my number one affiliate program and even try it out for free to see if it is for you. (NO CREDIT CARD NEEDED)
No updating products, talking to customers everyday (being tied down) or placing order all the time and watching to make sure they are shipped to your customers in a timely fashion.

Drop shipping is NOT a scam but count on being tied to your computer and phone many hours a day everyday, good luck with your choice.

Would like to hear your comments or questions below, I will always answer in a limited time frame.

Wayne

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