Learn the easy way to build your dropshipping business on marketplaces

Learn the easy way to build dropshipping business on marketplaces Snazzyway India

This beautiful morning, I wanted to write a brief, but action packed content that communicate precisely to the new Indian eCommerce entrepreneur that is in the process of starting a dropshipping business on marketplaces. When you’re building a drop shipping business of our own, it’s super important that you understand all the necessary and basic steps so that you don’t get lost in the weeds.So many young entrepreneurs start their web store and they lose sight of the end goal a couple of months in.

When that happens, it can lead to irritation, confusion, and an eventual decision that there is not an opportunity for star ups to make money online.That is a very false reaction that many entrepreneurs have. There are many factors that could have gone into it, but I bet that if they knew all the necessary and basic steps and stay focused on them, it would not have happened.

Take this content , print it out, and post it near to your working desk .Read it so that you can stay focused on the full picture as you’re taking the small steps to bring it all together.As you read all the necessary and basic steps each morning, you will slowly teach your brain to move in the direction of making those a reality.

 Choose the Profitable eCommerce Platform

Since we've officially concluded that you'll be building a dropshipping business on marketplaces, the next first most important step becomes selecting the eCommerce platform that you want to start with.I greatly favor choosing one platform to start with and to become an expert within before moving onto the next.

I miscalculated as a young entrepreneur trying to go into too many platforms before perfecting the first.You can set target for the number of sales you want to reach from there and then you move on and try to replicate it with another marketplace.At the end of the day, it’s smart to expand your platforms, but you want to be focused as you get your start.

Marketplaces Options in India

There are many marketplaces options now available in India, but there are a handful that still predominantly handle all sales on the Internet.

  1. Amazon
  2. Flipkart
  3. Paytm mall
  4. Shopclues

These are by far the largest eCommerce marketplaces where the most transactions are being processed in India.Now, if you live in a country outside of the India, it’s very likely that this is not the same. I encourage you to do your research to find the top players within your country if that is the case.

Understanding Marketplaces Business Model

For Amazon India and Flipkart, these are eCommerce marketplaces in India, meaning that you are selling to consumer that are buying on those websites.You don’t have your own web store and URL. Rather, you have a storefront on the marketplace of your choice.

When it comes to building a drop shipping business on a marketplace, you need to make sure that you are following all of their terms and customer metrics that they hold sellers to.While it takes more work to appeal to the marketplace, you don’t have to worry as much about marketing because they do it all for you.They bring customers into their marketplace and it is your job to make sure that your product is in the best position to sell.

Building Your Store On Marketplace

Building your dropshipping business on Marketplaces is definitely easier than your own eCommerce website.For a marketplace, you simply create your account, add all of your required information, and are then welcomed to the marketplaces dashboard where you can manage all of your eCommerce business.

For example, on Amazon, you get access to Seller Central.This is the dashboard where sellers can see orders coming in, messages from customers, Amazon notifications, seller metrics, and inventory levels.On a marketplace, they pre-create you a templated “storefront” where all of your products will appear once you start listing products.Build the store portion of selling on a marketplace is much less important than if you are selling from your own website.You almost want to skip over this step and move right into listing products and competing on the listings of the marketplace.Now for those of you who are selling through your own website…

Making money selling on Marketplace

When selling on a marketplace, you are directly having competition with other sellers looking to sell the same products.For example, on Amazon, they have their own ASIN’s (Amazon Specific Identification Number) that is assigned to each product.So, if you are looking to sell a I Phone, there is a good chance that other sellers are as well. You all compete to sell the product on the same listing meaning that a lot comes down to price.

The other marketplaces are also similar to Amazon where you’re fighting against other sellers to fetch sales.Marketing is less of a concern on marketplaces, but you need to have a good strategy for re-pricing your products.There are tons of software companies out there now that offer accounts where you can easily use their software to reprice your products based off certain rules and your competition.

For example, if you know the lowest price that you can sell a product and still make a small profit, you can set that as the floor price so that the repricing software never goes below that.By repricing your products based off your direct competition, you move up in the ranks on the marketplaces and are able to generate more sales.There are plenty of advanced strategies that you can learn about with repricing on marketplaces.

Getting started your Dropshipping business on Marketplaces

If you follow all the necessary and basic steps as you start your drop shipping business on marketplaces, you’re going to see success.Nothing is assured, but you’ll be putting yourself on the right path to leraning if you have a home run with the eCommerce business that you’re trying to start.

Remember to not get depressed if you don’t see good money in the first 1-3 months.It takes time to ramp up your sales through a drop shipping business, but that’s okay……learn the operations, create processes for each one, and then put yourself in a position to let the company run on its own while you focus on growing sales and making more profits.

If you enjoyed this article, please share it with your community on social media.If you have any questions, reach out to me on any of my social media platforms or via email in the Contact section of the site.

Until next time…

 

 

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