How can you find the best dropshipping suppliers to work with in your business?
Entrepreneurs are always trying to find the next big business opportunity. With opportunities to sell merchandise on Amazon and other ecommerce sites, dropshipping has become a big business fast.
It’s not just entrepreneurs who are jumping on the dropshipping bandwagon en masse. Big retailers are also learning what dropshipping is all about.
Sine dropshipping relies on other companies to supply the product, your business really comes down to picking the right dropshipping supplier. Read on to learn how you can
Successful Dropshipping Business Requirements
Not every dropshipping business is successful. It’s actually not the quick money scheme that a lot of people think it is. It’s easy to think that because you don’t have inventory to deal with. You just build an ecommerce site, post the products on Amazon and away you go.
The reality is that it takes a lot of careful work and planning to make a dropshipping business work. Here’s what you need to have in place to have a successful dropshipping business. If you’re familiar with the 4 P’s of marketing, you might already know some of this.
The Right Product: Do you sell products that people want and will buy? Don’t sell based on what you think will sell. Sell products based on consumer trends and what data tells you.
Selling on the Best Place: Where will you sell the products? You may have multiple channels to sell the products.
Using the Best Promotions: How do people find your products, whether you’re selling on an ecommerce site or Amazon? There are tons of marketing techniques to choose from. Choose wisely.
You’ll also need to have a solid brand that people can identify with. That’s one way to be different from your competition.
The Right Price: Are your products overpriced? Are they priced competitively and priced to make a profit?
The Dropshipper with Best Systems Wins
At the heart of running a successful dropshipping business is your system. You’ll need to manage customer service issues, gauge your profitability, and manage promotions, like emailing your customers to buy more products.
With that in mind, you’ll need to have a system in place to manage your business activities. There are some companies that can do that and integrate with email and other systems you already have in place. Read more about that to learn how you can automate a lot of your business.
Even if you have the 4 P’s of your dropshipping business locked down, it doesn’t guarantee that your business will be a success. Dropshipping is hyper-competitive. Any potential negative against your business can hurt you in the long term. That could be a bad customer experience or a negative customer review.
A lot of those issues may depend on your dropshipping supplier. Your customer might receive a package late because your supplier didn’t ship it on time. They could receive damaged product because they didn’t put any care into packaging the product.
Your dropshipping partner is a huge part of the customer experience. You need to make sure you choose the best dropshipping supplier for your business and your customers.
How to Choose the Best Dropshipping Supplier
Much like creating a business plan for your dropshipping business, you need to put as much thought and attention into choosing a dropshipping company.
Research, Research, Research
This is probably the easiest part to find the best dropshipping products. You can look in online directories and search on Google.
Don’t just go with the companies listed first. Dig through a lot of the information and take the time to look at companies based on what they offer and what other sellers had to say about them.
Make a list of about a dozen companies to test out in the next steps.
Contact the Supplier Directly
You’ll need to reach out and contact each company directly. It’s important to establish a relationship with your vendor early in the process.
Ask them how orders are processed and how they handle inventory. They can bolster their case with references from other businesses as well.
If you’re a new dropshipper, you’ll need to know if there are minimum requirements you must meet every month. If you don’t meet it there may be some type of fee. Existing dropshippers should be concerned with the company’s ability to handle your business volume.
Depending on the supplier, there may be a per-order fee as well or monthly fees.
There’s usually room to negotiate these terms with your suppliers. Take into account that these suppliers and manufacturers make a significant profit, so you have a lot to work with.
Test the Best Dropshipping Suppliers
The only way to know for sure if they’re the best dropshipping suppliers or not is to take them for a test drive. Place a few orders yourself and gauge what kind of customer experience they may provide your customers.
Are Your Customers in One Location?
This is actually more important that you’d think. If one of your key differentiators is excellent service, that includes shipping time. If your customers are in a general location, you want to have a dropshipper supplier that’s close to them to speed up delivery times.
Start Finding the Best Dropshipping Suppliers
A dropshipping business can open many doors for new entrepreneurs. It can be a way out of working for someone else. It gives people a golden opportunity to create the life they dreamed of.
Dropshipping isn’t all unicorns and rainbows, though. It takes work, patience, and it takes having the right partnerships in place.
Working with the best dropshipping suppliers ensures that your customers are being taken care of. When you show your customers that you take care of them and provide superior service, they’ll remember your company and purchase more.
Fail to get this right, and you’re always going to have to find new customers. It’s that simple.
Want to know more about getting your dropshipping business going? Check out this guide to customer loyalty that will guarantee customers for years to come.