When running a business, you need to generate sales. But for that to happen, it is imperative to do every single step properly.
Luckily, there are tools out there that can help you streamline your process and do your tasks better. There are tools out there to help you start, grow, and scale your dropshipping business over time.
But before that, let us find out what dropshipping is and how it works.
In a nutshell, how dropshipping works is that an online or e-commerce store does not keep that product selling on-stock.
When you are running a dropshipping business, all you need is an online store.
From there, you can accommodate orders from customers. You can then forward it to your supplier or a third-party store. And then the store will ship it straight to your customers.
Meaning, you are not the one who handles the product now.
This is what makes dropshipping different from retail. You do not have to set up an inventory. That’s because the manufacturer or supplier will handle the warehousing, picking, packing, and shipping of items.
Which brings us to this question: Is dropshipping still profitable?
The quick answer is “yes.” That is mostly because of the e-commerce activities that are taking place globally.
It is not just profitable, too, but thriving.
Both e-commerce and dropshipping has managed a nearly seven percent increase over the last ten years. The profits have also reached up to over $4 billion.
Even smaller retailers have experienced a 30 percent increase in conversion rates.
Now here are the best dropshipping tools that will take your business to the next level:
Product and market research allows you to discover what is trending in the market. This is where tools like Google Trends could come in handy.
Google Trends lets you gain valuable insight into search volumes to choose niches that has tremendous sales potential. This tool allows you to assess your competition and look for relevant niche keywords that will enable you to optimize your ad campaigns.
Apart from that, Google Trends also lets you find seasonal trends to buy products that enjoy peak sale seasons. It also provides vital research about product niches per region.
Another essential aspect of dropshipping is sourcing your inventory. Several tools allow you to do this, but Inventory Source is one of the best out there.
It is a great tool that you can use to search for new products with ease in over 20 different online marketplaces.
Apart from that, it can also upload, automatically catch products, and track your inventory as well.
A simple tool that you can use is an Amazon price tracker and scanner.
In addition, camelcamelcamel has a handy browser extension called the Camilizer. This feature allows you to search for the best selling items or track price drops.
This is an app that you can integrate into your e-commerce store. What LoyaltyLion does is that it allows you to create customizable rewards for your customers each time they do particular purchasing actions.
For instance, you can set a specific number of points depending on what your customers do. This includes signing up for a newsletter, following you on Instagram, referring your website using an affiliate link, and so on.
With AutoDS, you can track and optimize your product stocks and prices. You can also list your products on online marketplaces such as Amazon, Home Depot, Ali Express, and Walmart.
The platform will also help you in order automation, come up with bulk listings, automated tracking, and so much more.
WatchCount.com will publish how many eBay users have placed a particular item on their Watch List. Although this is not a precise metric, seeing other users are “watching” will give you an idea of eBay’s popular items.
Amazon is the largest platform in the e-commerce world. With Jungle Scout, sellers can do the following:
Moreover, Jungle Scout’s functions include the following:
Having these functions allows sellers to analyze the product prices on different categories on Amazon.
A series of data like functionality, ratings, estimated sales, and customer behavior enables sellers to make informed decisions.
This tool allows you to import from over 20 different suppliers like AliExpress, ChinaBrands, etc.
Shopmaster also has a plug-in that allows users to place orders automatically and import products.
This is another dropshipping automation service that offers you customized product dropshipping. The best part? It is under your brand name.
Printful also seamlessly integrates with other e-commerce marketplaces and platforms.
The platform will also automate everything from monitoring orders, incoming order imports, and finding alternative product selection. The last one is ideal in case your primary supplier runs out of stock.
The products that are offered by Printful are packed and shipped from their fulfillment centers. They also provide warehouse and fulfillment services.
If you are an online retailer who sells both your in-house and dropshipping products, you can automate the whole order management process. You can send your products to their in-house warehouse and leave the rest to them.
The best thing about Printful is that you can easily set up a free account. You do not have to pay for premium accounts, and there are no monthly subscriptions.
If you have an eBay dropshipping business, manually tracking your orders can be daunting. Even if you have to spend a couple of minutes for every order tracking, it still equals hours or orders every month.
Luckily, Chili Tracker updates the order tracking number without seeking for any participation on your part.
This tool will also allow you to track orders from popular suppliers such as Walmart, Amazon, AliExpress, GearBest, and so on. Apart from that, this tool is also great in generating positive and customized customer feedback.
When you keep your customers updated with their orders’ status, they will be more than happy to shop in your store.
Disco is a helpful tool that simplifies the way retailers and suppliers connect. They can also exchange information on the category, order, inventory, and so on.
With the help of this tool, you can pass more accurate information to your partners. In return, your partners also have control over their data. It also has a mapping and monitoring function.
If you are spending a lot of time looking for the most profitable products on Amazon that you can dropship on eBay, ShipDropper makes it quick and easy for you.
Known to be the search engine for dropshipping businesses, it uses intelligent search algorithms. It also boasts advanced scanners that allow you to find the trending items on Amazon.
Using this tool, it will be easier to target items with higher search volumes, sales, and profits. When you filter the right items and then listing them on your eBay store, then you can surely boost your sales.
So, whether you are struggling with profits or just starting your dropshipping business, ShipDropper offers many packages that will suit your needs and budget.
Calculating your profits is one of the most critical aspects of your dropshipping business. But manually doing this can be time-consuming.
Although this might seem workable when you are starting, it will become more and more challenging to manage your business as it grows.
Mind you, making a business grow requires accuracy and proper financial management.
MyProfit allows you to calculate your monthly profits and loss reports. It also gathers monthly trends through charts for easy data analysis.
You can also get a summary of your revenue and profit and other helpful information that you can use to improve your dropshipping business.
As we mentioned previously, dropshipping is an excellent business model. Moreso, if you are a new entrepreneur, as this is a low-cost, low-risk, and easy venture. It can be automated as well.
One of the primary reasons you should start a dropshipping business is that you do not need a huge capital to start it.
There is no need to invest your money upfront and wait for your sales to pick up. All you need is to pick an e-commerce platform that you can integrate with various third-party suppliers.
Starting an online store does not cost much compared to running your own business.
Thus, dropshipping allows you to save thousands of dollars. And you can start one without borrowing money or applying for a business loan.
When you drop ship an item, it goes directly to the supplier than to the customer. Meaning, it makes less stop on its way to delivery. As a result, this significantly reduces the shipping time, which you and the buyer can appreciate.
It also means lesser hands will be touching the product on the way to the customer, significantly reducing shipping errors.
According to data by ReadyCloud, 33 percent of items that are purchased online often get returned. Moreover, a vast 65 percent happen because of the retailer’s error and not the customer’s indecisiveness.
But keep in mind that a huge chunk of customer returns can be prevented. Meanwhile, you can increase your margins by decreasing these costly shipping errors via dropshipping.
When managing your store, you can work anywhere. All you need to have is a stable WiFi connection that will allow you to check your sales or run ads.
You can operate anywhere in the world and ship your products internationally as well, and all it takes is just a couple of clicks. You can work when traveling as long as you have stable internet access.
Apart from that, you do not need to depend on paychecks as well. You can withdraw your profits anytime whenever you need them.
You can make things a lot easier by using different apps that help you automate your business.
With dropshipping, you can automate various tasks. This includes updating your prices, email marketing, and removing out of stock items in your catalog.
Meaning, you will have more time to focus on marketing and growing your business. If you want to free up more time, consider outsourcing your marketing, as well.
Mind you; outsourcing comes with a handful of benefits that you can enjoy.
Retail stores are constantly adapting to how the digital world is also evolving. Meaning, brick and mortar stores adapt an online presence that complements their business or migrates online.
Maintaining a retail store can be costly to run, as there are many expenses between your staff, inventory, bills, packaging, and a lot more.
Now compare that to dropshipping, wherein you only have to pay for your electric bill and other marketing campaigns.
Like we said, with dropshipping, you can sell to anyone, anywhere in the world. You can even look for suppliers near your target area, so your time and shipping rates will not suffer.
Apart from that, you will also gain a lot of prospective customers than your competitors.
Many people jump into dropshipping, but many people are not seeing the kind of success they first imagine when first jumping in.
Succeeding in your online business will require so many things. Thus, using the right tools is crucial. Initially, creating your business might feel a bit daunting.
But with a lot of emerging dropshipping tools out there, it will be easier to create a more profitable business over time.
Also, keep in mind that many dropshipping processes can be automated and simplified as long as you know how to use these dropshipping tools.
Hopefully, you can put them into good use so that you could succeed in your dropshipping business.