When it comes down to it, we’re all in this game for one thing; building successful dropshipping stores. However, this is no easy feat. Recent statistics suggest that 90% of Shopify dropshippers fail within 3 months. A main reason for this is the lack of accurate information available online. The average YouTube guru will reel you in with his clickbait title, but he won’t provide the useful and actionable information you need to succeed today. This article will give you a solid foundation to building your own empire of successful dropshipping stores.
Identify Your Target Market
The first stage of succeeding with dropshipping is to identify a target market. You need to find a group of people that are intensely passionate about something. Start by thinking about things that you’re very passionate about. What products would you market to this group of people? If you can’t think of anything yourself, look at those around you or even on the internet.
Two common examples of this are the pet and baby markets. Many dropshippers have made hundreds of thousands of dollars by targeting these niches. What do they both have in common? The people being targeted are intensely passionate. They want the absolute best for their pet or child and are willing. Leverage this passion to create an offer they can’t refuse.
Provide Value to this Market
The next stage is to provide value to this market with a product or service that solves a problem that they have. This is how you essentially make money online; you provide answers to people’s problems. You want to offer your target market a product that is so high in perceived value that they are willing to part with their money to get their hands on it.
When you really break it down, this isn’t all that difficult to do. Every time you spend money, you are valuing the product/service that you’re receiving higher than the money in your pocket. This is what you have to do with your customers. Solve a problem of theirs and I can guarantee you they’ll be willing to pay for it.
Effectively Communicate this Value
So you’ve identified a target market that you can help and even found a product that provides immense value to this group. If you aren’t selling at this point, it’s down to one reason. You simply aren’t communicating this value well enough. The best dropshipping stores tend to do this via paid social media ads and Google AdWords.
A great example of this is the glow in the dark dog collar. Many dropshippers used very powerful paid advertising to ethically force customers to give them their money. They cited a statistic about how many dogs are run over each year because drivers simply can’t see them. For owners that simply adore their dogs, this very powerfully communicates the value they’re providing. Whilst you may not have to be as extreme as this, you need to communicate the value you’re providing your target audience.