Is it Possible to Make Money Dropshipping On Shopify?
Last modified: March 19, 2023
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Many new to business often ask the question: ‘can you make money dropshipping with Shopify?’ The answer to this is very simple: yes. Many dropshippers work solely on Shopify who make a living off the business model and you could potentially make the same amounts that they do. However, to do that you need to have the best practices in place with some great tips.
So here are some of the best tips on how you can make money dropshipping with Shopify.
The first thing to think about is how much you are charging for the products. There are numerous elements to consider here. Charging more for your products isn’t too much of a problem, about 86% of customers are willing to purchase from a brand with a better reputation and good customer service.
So try to aim to charge 40-70% more than you have to pay for the product. This profit margin is a good value because it allows you to earn good revenue and profit while having easy margins to offer discounts and deals to entice new customers to your brand.
2. Choose Products Wisely
Next, you need to choose your products wisely. One of the biggest advantages of dropshipping is that you can switch and change products without any leftover stock. Therefore, you can create a very responsive website that has the products that are meeting current demands at the time.
Another thing that you’re looking for is products that have good reputations. Reviews are vital, but a five-star reviewed product isn’t always best. Customers prefer to see products and brands that have a reputation that fits somewhere between 4.2 and 4.5 because this looks more natural.
The next thing to consider is your marketing. It can be very tempting for you to jump onto Google and start advertising through their channels, but this can be one of the biggest mistakes that you make. Even though there are plenty of Google Shopping apps that you can use, Google PPC campaigns can be very expensive.
The average cost of a transaction in 2019 was $18.71. This is really expensive and for some dropshipping products can be more than your profit.
There are other marketing platforms that you can use for a fraction of the cost. For instance, you can sell on platforms like email, social media and SEO that can be much more cost-effective for you.
Final Word: Can You Make Money Dropshipping With Shopify?
Can you make Money Dropshipping with Shopify? Yes, you can make money dropshipping, especially on Shopify where some free themes and apps can help you make your website quickly. You can also build better profitable models with the tips above.