Making money online is trending all around on a global level. People are investing into online marketing techniques to earn money from home. Out of the various existing online income sources, drop shipping is taking over the surface incredibly. Drop shipping provides a fantastic way to make money sitting at home, if you want to have your own business from scratch or have the pleasure of financial independence.
To your surprise, you need not buy any inventory to get started and you can make virtual sales of any product until the time you have a trusted and reliable wholesaler as your provider. Doesn’t matter if you are already into a full-time service or business, you can still have ample time to give in drop shipping. If you want to spend all your efforts into the process to make it successful, it is not at all a bad idea!
There are many groups on Facebook offering free guides and resource materials online to get started. In the world of digitization, social media platforms are the most trusted areas when it comes to learning and experimenting new things. This is why newbies prefer these methods to begin their online business and the success rate is also commendable.
Excited? You should be.
Hold on. There is a lot more to learn and digest before getting into the work mode. Drop shipping demands persistence, use of the right tools and most importantly, making right business decisions. If you believe you are good enough with perseverance and decision making, we will manage the remaining area for you.
Choosing the right tools is an art you will learn eventually. For now, we have the most reliable tools for drop shipping you must have. Give it a read.
1. Inventory Management System
Having an inventory is everything. You ought to know the details of the sales – how much you sell and how much is still available? In case of drop shipping, you won’t probably have inventory handy but it is essential to keep record how much is available via your wholesaler. Of course, you will never want to disappoint your customer by telling them the product they asked for is unavailable and you are simply processing their refund.
Over time, there might come a situation when you want to grow your business by having the inventory and selling at a store, market place, trade fair or somewhere else. It is important to have the right inventory management system to be aware what your customer needs. Inventory management is important in ensuring no available items are ordered, saving your profits as it is.
2. Customer Management System
Handling sales is not a lay man’s job. There is a lot more than running ads and promotions. You must generate leads and feed them with the sales funnel. Having a good customer management system proves to be helpful in this regard, as it helps keep the track of the leads and their location in the funnel.
Whenever you get a lead, through a sale or list serve, feed the contact information into your CMS. This way you can have all the details and record of the number of leads in your contact, including phone calls, emails and sales. With time, a lot of information is collected about the existing and potential customers, showing you the clear picture of your customers’ needs and requirements. You can use this information to plan your business strategy to move higher on the ladder of success.
3. Content and Blog Management System
Like the products and listings on your store play a great role for the business, blogs equally compliment your services, brand and boosts sales as well. This is an evident process of drop shippers and e-Sellers achieving success in today’s market. Having an online store and products listing is not just the only requirements for getting success online, creating relevant and interactive content is also a matter of attraction for the customers and new visitors, making them excited to buy a product or service.
You can set up your blog easily through the most user friendly CMS – WordPress. It is a simple and easy way to launch your own blog without any professional help. As soon as you share a blog on your website, promote it online through social media to attract larger audience and increase your business opportunities.
4. Payment Processor
In the game of online business, PayPal is an old and trusted payment processor indeed. However, there are many more such payment processors offering safe and secured payments all across the world. Better explore all the available options to get to the best terms. A minor difference in the fees can add up to a big sum over time, cutting down your profits. Also ensure the chosen payment processor receives payments most popular for the customers and what is the authenticity of customer service.
5. Payroll System
When people get started with drop shipping, one common question pokes them. However, as you begin making some money and see your business growing, you may need some more hands for help. It might be from a single assistant eventually creating a team of workers assisting and serving customers in the best way possible. To manage the huge staff and payroll, you need a payroll system. It will automatically calculate working hours and pay along with the suitable taxes. You will everything done from issue checks to tax reporting with help of a reliable payroll system.
Selecting the right tools for drop shipping business is an advantage and not merely a matter of convenience. It helps improve your customer base, customer service, sales and maintains low costing, maximizing the overall profits. Right away when you find the perfect wholesaler, start finding the appropriate software tools for the business. DO this even before setting up the website. Choosing right software will add strength to your foundation for developing a successful business online.
Start collecting the must-haves for your new drop shipping business today!