You chose your niche, you know where you are going to sell your products, you have created the framework for a website, and you are eager to get started with creating your new income stream.But making money with drop shipping requires you to choose which high-quality products you are going to sell. With many products and suppliers available to you, choosing the correct products can be overwhelming. To make the selection a little easier, I have compiled four tips to consider:
1. Know your target audience. Whether you are selling to supplies to hobbyists, products to businesses, or consumables to repeat customers, be sure you know your target audience well before choosing what products you are trying to sell to them. Each of these individual groups has different needs, and if they feel like you add true value to their lives, you will be able to build a relationship that will last.
2. Choose products with accessories. Products that have many accessories available, are a great way to create more sales out of one transaction and have your customer come back for additional accessories. Make sure that you offer a wide variety of extras for products in this category, and update them regularly.
3. Choose timeless products. If you are choosing products for sale that has continued new models and updates, you will have a lot of extra work in promoting and creating website content for each of these updates. Classics – like watches, for example, will need less content updating and product changes than technology products do. If you are choosing products that are do fall under the category of constant model changes, beware that you need to be willing to put in the extra effort to stay relevant.
4. Choose smaller products. In order to be able to offer free shipping and other incentives, choosing a smaller product, with less shipping cost will save you a lot of money. Do not underestimate the power of offering free shipping to your customers, though, so keep this extra cost in mind when choosing what products to drop ship.
If you are not sure if drop shipping is the right passive income strategy for you, check out my article 9 Legit Passive Income Ideas You Can Work From Home for more creative ways to increase your finances.
Fiercely Independent Blessings!