How to Choose Products for a Successful Dropshipping Business
How Should you Choose the Right Product?
Choosing the right product for your dropshipping business is crucial and can make the difference between success and failure.
There are many approaches to finding products, such as looking at sales trends, browsing popular dropshipping websites, examining bestseller lists, and so forth.
You can find many of these options listed in the Resources section below. But before you scroll down, I’d like to share one extremely important tip with you: Think about your passion first.
If you sell products you are passionate about, you’ll have a stronger chance of succeeding. When you are passionate about the items you offer, you can write interesting, enticing descriptions of your product, and that can boost sales.
Find products that move you, that you can talk about all day long. With this kind of passion, you’ll have the drive and motivation you need to run your business, and you’ll be proud of the products you sell.
Once you have decided what you are passionate about, find the right niche for those products, and build your business around it. Avoid offering items outside of your niche, and that way, you’ll avoid spending your time and energy on products that don’t move you.
You’ll do well if your eCommerce site is focused on a specialty that catches your enthusiasm. For example, if you’re interested in music, you can start by selling headphones, and once you have mastered that part of the market, you can expand into the speaker market, and when you have set up that market, you can expand into high-end stereo equipment. As time goes on, you’ll be on your way to building a dropshipping empire around sound equipment.
Choose a Product in Demand
Selling products takes a lot of work, effort, and hefty marketing budgets. So why not offer items people want instead of products people don’t want? Imagine trying to sell tires to someone that doesn’t own a car. You would waste time, energy, and your budget on this campaign, you would have had better success targeting car owners looking for tires.
Make Your Profit Margin Work for You
The amount of profit you make on a product is important in determining if your dropshipping business is a success. For example, if you’re selling printers for a $4.00 profit each, you can’t expect to make much money or to cover your advertising, marketing, and business expenses. Profitability is an important factor to consider when deciding what products to offer.
Let’s say you find a printer that will give you a profit of $35.00 for each sale. This boost in profit could let you spend money on marketing the product effectively while paying your bills and keeping some of the profits for yourself.
Delivery Process Considerations
Decide how, where, and when you want your dropshipping products to be delivered. Can your products be delivered to your target customers? Are you marketing your products to domestic or international customers? If you’re shipping to foreign countries, are there regulations for importing that product?
You’ll also want to determine the length of time it takes to get your products delivered to buyers. If it takes three weeks to ship a product to a customer, you will lose sales because people are used to quick deliveries.
Next, look into how difficult it will be to deliver the product. For example, if you’re selling furniture, how will the products be delivered to a buyer? The differences between shipping products like a book a dining room set are considerable and can affect your dropshipping success.
Ask Your Suppliers about Warranties
Will your suppliers offer warranties for their products? Good warranties improve sales because a customer knows they can return the product if there is a problem or if they are dissatisfied, therefore you must have a decent warranty for the products you sell.
Determine the Quality of Your Product
Consider the quality of the products you want to offer.
For example, you could focus on selling large quantities of low-cost items. When dealing with low-cost items, you can expect low-quality products, dissatisfied customers, and poor reviews.
If you choose to sell better-quality and higher-cost items, you can expect fewer sales, but you’ll also have fewer headaches and better reviews.
Design Your Return Policies
Make sure you create a return policy because there will be customers who don’t like the product they purchase, or the product did not meet their expectations, or they simply changed their minds after making the purchase.
Matters to consider:
- Can customers return items if they are not satisfied?
- How will returns be processed?
- Who will pay for return shipping?
Resources: A Hand-Picked Collection of Articles to Help You Choose and Work with Dropshipping Products
The following is a unique collection of articles full of the information you need to make good decisions when choosing dropshipping products.
Keep in mind the articles are written by different authors, which will give you an overall view of the planning process for your dropshipping business.
It’s like having a group of masterminds come together, each offering their perspective for choosing products.
Make sure you schedule some time to go over this information. The more informed you are with the process, the better decisions you’ll make for your dropshipping business.