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Dropshipping

Dropshipping KPIs You Need to Track for Your Store in 2024

Posted by Lilla Stefanovszky | December 6th, 2021
The number of eCommerce marketing tools available at hand today and the possibilities they’re offering might be overwhelming for everyone who owns a dropshipping business, regardless of them being new or experienced in the field. Today’s business owners are provided with endless options and ways to measure their store’s traffic and track how their marketing efforts are performing. So, sometimes, it can be hard to pick out the most important dropshipping KPIs to focus on. When it comes to measuring the health and progress of your dropshipping store, all of the data that’s collected on your store can be a treasure It can show how you get traffic on your website and how your customers are behaving when they visit your store. These details can enable you to make informed decisions on improving your store's performance thus increasing your sales. To put it simply, if you aren’t tracking your performance based on the data that’s being collected on your dropshipping business, you can end up missing out on the opportunity to measure how well your strategies are working. Although most dropshipping business owners are utilizing the data they’re collecting, there are still some that are missing out on this valuable information. In fact, studies show that up to 73% of data that is collected by companies goes unused for analytics. It’s important to know that, if you don’t read, understand, and apply the data you’ve collected properly, it can cost your business vast amounts in the long run. It can result in lower efficiency, lost business opportunities, and future issues when dealing with unhappy customers. In this article, you’ll be introduced to the most essential dropshipping KPIs that you should be measuring, analyzing, and implementing in order to drive your store to success.

Dropshipping

Shopify vs. Amazon: Which is Better for Dropshipping Clothing in 2024

Posted by Lilla Stefanovszky | November 23rd, 2021
The global apparel market is expected to grow to 1.79 trillion USD by the end of 2026. This clearly shows that it has an ever-growing demand for shoes and clothing and a tremendous potential for newcomers as well as for established business owners. When it comes to the luxury apparel market, it will account for 85 billion USD in 2024 and it's projected to grow 3% annually until 2028. When looking at these numbers, it is apparent that becoming a luxury apparel dropshipper is a beneficial option for every business owner regardless of their size. As an entrepreneur that wants to tap into the dropshipping clothing market, one of the most important decisions to make is to choose the most suitable dropshipping supplier that you can work with, in the long run, such as BrandsGateway. The next biggest decision following the choice of the supplier is about the eCommerce platform you will be using. It is recommended that you pick one that is among the biggest and most reputable worldwide, so it is likely that your decision-making process will come down to Shopify or Amazon. While both have advantages and disadvantages alike, your decision should be in line with your business needs and its characteristics. In this article, you will be introduced to the main difference between Shopify and Amazon, alongside the pros and cons of selling on each eCommerce platform.

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14 Best Dropshipping Resources for Beginners and Advanced Dropshippers

Posted by Lilla Stefanovszky | November 8th, 2021
When you’re in the dropshipping business or are just starting off, you have to first understand how this business model works and keep educating yourself on new ways to improve your venture. As there is high competition among dropshippers to succeed, it’s important to put time and effort into becoming the best business owner you can be. Fortunately, you can find plenty of dropshipping resources that can enrich your knowledge - from dropshipping blogs and forums to eCommerce podcasts and online dropshipping courses. This article will introduce you to the best dropshipping resources for your level, regardless of whether you are a beginner or have years of experience in the field.

Dropshipping

Automated Dropshipping: How Can BrandsGateway Help you Achieve it?

Posted by Lilla Stefanovszky | November 4th, 2021
In today's ever-running world, one of the most precious assets that every dropshipper wants to have more of, regardless of what business segment they're operating in, is free time. Thankfully, the dropshipping business model already allows dropshippers to hand over some duties to their suppliers, so they can concentrate on promoting their businesses and providing outstanding customer service. However, the newcomers to the dropshipping business world might feel that all the weight is on their shoulders to make their businesses work, and they have to work around the clock to make it successful. But not anymore. There's one aspect that's becoming crucially important that can make dropshippers' lives easier and allow them to run a dropshipping side-business next to their 9 to 5 job. It's called automated dropshipping. In this article, we'll take a look at what automated dropshipping means, what are the benefits, and how it can be achieved.

Dropshipping

BFCM Checklist 2021: Skyrocket Your Online Sales for Black Friday and Cyber Monday

Posted by Nedina Gjorgjieva | November 2nd, 2021
What is BFCM? BFCM is a term that covers the most popular shopping events on the planet - Black Friday (26th November) and Cyber Monday (29th November). More importantly, from a seller's perspective - it's the most anticipated period where much of the profits are to be made. According to many U.S. media, the average American citizen spends over $400 during BFCM. This is, by far, the most profitable holiday of the year for every retailer out there. Find out more about the difference between these two terms, and how you can benefit from this year’s global shopping spree. It's incredibly important to prepare your online store for an increase in sales, simply because your competitors will be doing exactly the same. This pre-Christmas is often used for 2-in-1 special offers, discounts, promotions, and giveaways. In the U.S. alone, people spend over $1.5B in a period of just a few days. If you would like a piece of the cake, there are a few things to consider before you start offering BFCM deals to all those hyped-up online shoppers. Difference between Black Friday and Cyber Monday Many sellers will agree - Black Friday is different from Cyber Monday in a number of ways. Generally speaking, people buy all sorts of high-ticket products on Black Friday because there are tons of discounts on the majority of merchandise. As for the tech deals and gifts (including accessories, watches, and gadgets), many shoppers eagerly await the following Cyber Monday. However, these days, business owners tend to connect these two big shopping events under BFCM to create promotions that last even for one or two whole weeks. The reason why eCommerce businesses prolong these two events over a longer period is purely for marketing purposes. This way, shoppers are able to buy different products within a few days, leaving them with enough time to spend some on Black Friday, then wait for better tech offers over the following days, ending the shopping spree the days after Cyber Monday. More importantly, it gives retailers enough time to restock and prepare for the next wave of shoppers, no matter if it is physical or online. However, you might still be wondering - how does all this information help your online store? In short, if you are looking to capitalize on the year's biggest shopping event, you need to check if your store is ready. How do I prepare my store for the upcoming Black Friday and Cyber Monday (BFCM)? Before you start with the BFCM checklist, you need to know that in the last two years, online shopping has increased exponentially. This is due to the current COVID-19 pandemic. People are looking to buy more, using the safest method possible, which is, of course, online shopping. Now, you need to get that store up and running without any interruptions during the upcoming weeks. Perform a small technical check, before you move on to the marketing side of it. Check your site's allowed bandwidth Depending on which platform you use for your online store, exceeding the allowed bandwidth will result in profit loss. If your site shows any errors while people are trying to connect to it, many potential customers will close it within a few seconds. You can fix this by upgrading the site's bandwidth with your web hosting provider. For instance, if your store is based and built on Shopify, you will have no issues with customers leaving your store due to slow loading time or any other similar issue. Shopify always seeks new ways to improve user satisfaction and has optimized every subscription plan to work flawlessly, regarding the amount of traffic coming to your site. On the other hand, if you have a WordPress-based dropshipping store using GoDaddy, Bluehost, or any other popular web hosting company, you might want to talk to them about increasing your website's bandwidth, switching to a more expensive subscription plan, etc. Focus on customer support Many customers will be asking for additional information on the products, such as size, color, and shipping costs. You can either use an automated chatbot to ask and respond to all questions or hire an experienced customer support representative on an hourly basis, to help deal with your customers. Of course, it would be great if you can also set the working hours visible someplace, as there are 24 time zones around the planet. In case you would like to install a live chat app, there are tons to choose from, such as LiveChat, Crisp, Tidio, Freshdesk, etc. Calculate discounts Black Friday and Cyber Monday are all about quantity. Selling hundreds, even thousands of products with setting the profits at just 5%, will earn you a decent amount of profits. However, you can still calculate the profit margins (if any) set by your supplier, then optimize them for more sales. The point of it is not to be overwhelmed by greed, but to play it right and earn more during those crucial days. Then, hopefully, reinvest all those money into improving your store. Let's talk about how you can prepare everything for the upcoming BFCM shopping holiday. BFCM Landing Pages First, you will need to design, create, and publish a landing page. This is especially important due to several reasons: All the visitors coming to your site will be able to see the variety of special discounts, offers, etc.; It is easier to collect new emails by offering them to participate in a BFCM 'wheel of fortune' event for extra discounts and gifts; You can check out and analyze how they react to all the offers and products, and get a better understanding of what customers love the most. This can be used for future advertising campaigns and marketing efforts; Finally, you will need to connect this landing page to all your Google Analytics, Facebook Pixel, and other tracking software. They will reveal many valuable insights on what you can do next with your store. Landing pages are mainly used to best promote products or services of any industry. Most business owners create landing pages based on holidays. Thus, most of the competition will use the same method to try and get more sales. For every major holiday, you can create a separate landing page template, which will really save time for next year’s marketing activities. BFCM deals, promotions, and offers You will need to provide customers with more than just discounted offers. While at it, why not reward them somehow for being loyal to your store? Better yet, why not take advantage of Black Friday and Cyber Monday, and make sure the majority of those visiting your site for the first time come back soon, for another purchase? Every discount needs to be calculated so that the profit margins stay around the same. For instance, if your store is based on WooCommerce, they offer a great 'buy one get one' feature. With it, you are most likely to notice a sharp increase in sales. Moreover, you should include 'free shipping' offers, special gifts for multi-buy customers, percentage discounts, and much more. On the other hand, you can add another great feature that you have most likely seen around the Internet. Product bundling is a process where resellers increase the total value of sales, to allow customers a less complex shopping experience. They do it by offering specific products as a complete package, with special discounts. Black Friday and Cyber Monday (BFCM) Newsletter Creating effective email campaigns during BFCM is crucial. Let your existing customer base know about the current best offers. This will just increase the sales even further, as you can focus more on outbound marketing. Outbound marketing means using various marketing methods to find new customers. They are usually found visiting and shopping from your competitors. Remember, it is BFCM and you will have to create personalized newsletters with specific CTA buttons to grab their attention the same second they lay their eyes on it. Include multiple discounts and special offers, provide a variety of products and product bundles, and make sure they see both the old and new prices. This will allow shoppers to recognize the value of the product, meaning they will start calculating how much they've saved by purchasing during this shopping holiday. If you can contact some local charities and make a deal with them, you can even donate a percentage of the profits. Many customers feel better when they find out that part of what they have just purchased will help those in need. Include videos wherever possible According to sources, creating a video on the landing page may as well increase the conversion rate by over 85%. Keep in mind - some competitors will not have videos posted on their websites, which is good news for your store. Start the countdown In the past few years, creating 'limited-time offers' invokes a feeling of 'pressure' into buying the product before it expires. Placing countdown timers is often used, even by the most popular marketplaces. This time, you can use it for 'Special BFCM Limited-Time Offers', which is perfect to increase the pressure of shoppers, in a positive manner. Include referral programs There are other useful methods you can put into practice before and during Black Friday. Referral programs can be implemented, whereas your most loyal customers will bring even more customers to your store. In return, they can earn points, which they can later exchange for even bigger discounts, small gifts, or even gift cards. The best way to announce the good news is by posting it on all your social media pages. Also, do not forget to include relevant hashtags in these posts, because you will most likely reach an even more active audience. Alternatively, you can still send weekly newsletters to all existing customers, highlighting this part to them. Hashtags Although they say hashtags are not as popular as before, they can still play a part in your marketing efforts. The most common hashtags include #BlackFridayDeals, #CyberMonday, #BFCMWeek, #BlackFridayWeek, and other related terms. In case you need to find a database of similar hashtags, use tools such as Best Hashtags. Mobile optimization Let's not forget the single, most important thing you need to optimize for your online store. If you are wondering why we put an emphasis on this essential step, it is best we explain it through simple facts and numbers. At least once a day, over 91% of all Internet users surf the Internet using their mobile devices. Some of them even shop impulsively; On a global scale, there are over 4 billion people using social media today; As for smartphone usage, we have already passed the 50% mark, with over 5.2 billion unique users and counting; According to the latest statistics, the average online shopper spends at least $500 every year, ordering all sorts of products. Thus, there are more than 5 billion reasons for you to create a mobile-friendly site. It has already proven to help increase conversions and retain new customers. Use Social Media advertising BFCM, Black Friday, and Cyber Monday will be some of the most browsed keywords on the Internet in the following couple of weeks. It is what happens every end of the year, and explains why they cost so much per click during this period. Either way, if you want to scale up, it is something that you must take into consideration. You can even turn all paid visitors into recurring customers. Make sure they give their email addresses so that you can include them in your newsletters. However, keep in mind - it all needs to be transparent. BFCM Checklist: In a nutshell In short, you can use some, or all of these methods to make it work. Thank you newsletters with follow-up emails are a great way to retain most customers, and social media will help you further increase your sales. If you get ready in time, it could turn out to be the most profitable month of the year. Remember to make sure that your online store can take hundreds of shoppers at any given time. With the amount of data we have provided, you can achieve much during the BFCM weekend. Table of Content {{TABLE_OF_CONTENTS}}

Dropshipping

Dropshipping on TikTok: Tips and Tricks for Promotion in 2024

Posted by Lilla Stefanovszky | November 1st, 2021
As a dropshipper, you have the advantage of being able to focus on marketing your business as the inventory management, fulfillment, and delivery processes are taken off your shoulder by your supplier. If you have a long-term partnership with a trustworthy dropshipping supplier, you have the opportunity to focus elsewhere and champion reaching your target market. In order to do so, you will first need to understand and define the characteristics of your target audience. There are numerous platforms you could communicate with them through, but you need to know how to reach them the best. One of these platforms is TikTok. It is one of the newest social media platforms that you can promote your brand on. It was first launched in September of 2016 in China and it quickly started gaining popularity around the globe. Originally it was intended for short videos that featured dancing and lip-syncing, but today, all viewers can find the content that matches their taste as TikTok grew into a full-fledged video platform. Showcasing its popularity is the number of downloads it reached in 2020, which was 850 million, and its revenue of 1.9 billion USD in that year only. After the introduction of TikTok ads, it became possible for companies to have their business profile on the platform and target their audience with TikTok videos instead of more traditional means of advertising. This clearly shows that there is an opportunity when it comes to dropshipping on TikTok.

Dropshipping

How to Create a Dropshipping Business Plan

Posted by Lilla Stefanovszky | October 25th, 2021
When thinking about starting an eCommerce business, it’s crucial for you to understand all the business models available at your disposal and, of course, create a business plan. Dropshipping has gained significant attention in the past years, and, currently, close to one-third of online stores are operating based on the traditional or reverse dropshipping model. According to Google Trends, the dropshipping trend is on a constant rise. This signals that, although dropshipping is a successful and attractive way of doing business for eCommerce entrepreneurs, the dropshipping market is becoming more and more competitive. trends.embed.renderExploreWidget("TIMESERIES", {"comparisonItem":[{"keyword":"dropshipping","geo":"","time":"today 5-y"}],"category":0,"property":""}, {"exploreQuery":"date=today%205-y&q=dropshipping","guestPath":"https://trends.google.com:443/trends/embed/"}); The reason for this is that we’re all connected worldwide, so it takes a little for a business idea or a strategy to get widely known and hyped around the world. This was the case with dropshipping as well. When eCommerce entrepreneurs started discovering dropshipping, it allowed them to make huge profits relatively fast due to the low initial investment required and the competitive edge that this new business model offered. But despite the fact that these days this eCommerce method is highly competitive, dropshipping is still worth it and profitable if done right. This is exactly why you need a stellar dropshipping business plan to drive your store to success. To understand the concept of dropshipping and how you can create an effective dropshipping business plan, read this article for a detailed guide on the subject.

Dropshipping

30 Best eCommerce and Dropshipping Subreddits to Follow in 2024

Posted by Dimitar Alimaskoski | October 22nd, 2021
Being part of something always comes as a benefit if you have your own business in the eCommerce or dropshipping segments. Connections are always valuable in terms of learning new things, broadening your perspectives, and moving closer to successful outcomes. Therefore, entrepreneurs need to step up the interaction game and use networking as a tool to further expand their knowledge or provide knowledge to those that are in need of it. Nowadays, there are multiple platforms that serve as connection hubs for entrepreneurs such as social media groups. In fact, social media platforms such as Facebook, Instagram, and LinkedIn are all used as anchor points for entrepreneurs, and apart from their use as promotion tools, these services can come in handy for connecting, learning, sharing new experiences, and everything related to networking. In this article, we will mainly focus on one of these platforms that serve as an aggregator of social news, rating web content, and holding discussions: Reddit. Reddit is a network that incorporates many smaller communities called subreddits where people join to dive into their interests, explore new ones, and be part of their favorite topic’s dissection. Apart from hobbies and interests, people come to Reddit in order to discuss business, knowledge, and other things that might help young entrepreneurs in their future endeavors. As the main motto of this platform says: Dive into Anything, let’s now dive into the world of subreddits related to eCommerce.

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