Bringing in new products and creating a brand can be a lot of work. It takes a lot of time, money and effort to try and build brand awareness for your products and get the items out there among consumers. There are many advantages of drop shipping you should consider as a supplier to maximise your business prospects.
Build Brand Awareness Faster
By using drop shipping you have the benefit of building your brand faster. If you have unique products or a brand you’ve created from scratch, you know how hard it can be to get exposure. Drop shipping will help get your product out there to more people. You can pick and choose who sellers your products, to ensure they fit your brand image. This can help to build brand credibility and make people more aware of your products. Brand awareness is one of the most important aspects of a business.
Let Others Help You Market
One of the key advantages of drop shipping is that you get others to do the marketing for you. If a seller like your brand, they can apply to put it online on their store. If you have any promotional material you would like them to share, you can also offer them resources. They will essential be doing marketing for you and the brand, as the seller is wanting to make a commission from a sale.
It’s important to set brand guidelines so when they promote your products, they keep the brand’s integrity. More an more online retailers are using social media to reach their audiences which means there is a high likelihood of more people seeing your brand.
Make Money With Minimal Effort
Since others will be doing the marketing for you, that’s less effort you need to make. As a supplier, it will still be up to you to ship these items when a product is sold on another website. You will probably find the time you once spent marketing is now used packaging items and sending them on their way. You’ll also find yourself doing more regular stock-takes to ensure you have enough products for all your sellers.
Lowers Long Term Costs
It may seem daunting at first getting others to sell your items. Sometimes it can feel like you are losing money as you will need to give a commission to the seller and a small fee to the platform you decide to use to have your products drop shipped. It will save you money in the long run as your items will move faster, using less warehouse space. In addition to this, the more items you send weekly, the lower the cost of shipping will become with most courier companies.
If you find that your business is booming and you need to purchase more stock frequently, you may need to increase the number of items you stock. This means the average item cost will be lowered, meaning you will have a bigger profit margin in the long run.
By using an online drop shipping site, you are minimizing risks for your business. You have more chance of your business succeeding through drop shipping than attempting it all on your own. Have more people marketing your items for you, and lowered costs in the long run. You aren’t limited to just being a supplier, you can also join as a seller. If you find other stores with products you like, you can add them to your online store. There are just as many benefits of drop shipping for a seller as there are for a supplier.
In a day and age where the digital market is ever growing and brick and mortar stores are slowing, it’s important to shift with the change. This will help your business to thrive and give you the greatest chance at success. Who wants to work for someone else, right?