Shopify is one of the biggest e-commerce platforms, and it continues to grow up to this day. Its revenues have reached almost $3 billion in 2020, exceeding expectations and sales projections by 86%. Additionally, many entrepreneurs on the Shopify platform earn an average of $72 per customer. If you get customers every day on Shopify, you can earn more or less $2,160 every month without you doing anything. If this isn’t enough to convince you to start your business through this platform, we don’t know what will. If you want to try your business on Shopify, there are some things you should know.
1. Dropshipping
Dropshipping is one of the most popular business models on Shopify. It is also one of the more profitable businesses online, garnering a market size of about $102 billion, and is expected to grow by a staggering 28% in the next few years. If you don’t know what kind of business to start on the platform, dropshipping is the best way to go.
Because of its popularity, Shopify has a guide on how to start a dropshipping business on its platform. You can find the guide here. Essentially, dropshipping is all about being the middle man for many companies who want to expand their reach. Many big companies want to grow their consumer base, and most of the time, they can’t do it themselves. Marketing can only do so much, so they partner with drop shippers to sell their products. You don’t need to have a warehouse to store their products.
All you have to do is sell them, and you get a portion of what you have sold. You don’t necessarily have to follow this business model. If you’re a manufacturer looking to disrupt your industry, feel free to start your business on Shopify. But dropshipping a simple business model that works well.
2. Your Niche
Once you’ve chosen your business model, it’s time to look for your niche. Your niche is technically the sector of the market you want to dominate. There are various categories on Shopify, and you can choose a couple to be safe. However, if you’re comfortable that you can be the next big thing in a certain category, then by all means, go for it. As long as you know that the niche is profitable and you can expect great returns from it, then it’s worth doing. Just don’t think about selling everything on Shopify. Selling all kinds of things can be your main downfall when starting in this industry.
3. Market Your Site for Free
Many new to the Shopify platform tend to market their products on reputable advertisement sites such as Facebook Ads and Google Ads. This can be a costly investment that you don’t need to make right now. There are many online platforms you can market your site for free such as Pinterest and Instagram. These sites are the best place to post a picture of your product to show to potential customers, and since it’s free, you’re not losing in much when it comes to ROI. Post as regularly as you can to drive more consumers to your site.
4. Returns
Although the Shopify platform makes it possible for anyone to start a business online, there are some things that the platform doesn’t handle properly. For instance, it doesn’t have a robust returns system installed. Returns can drive your customer’s loyalty, so having a good returns system is essential for your business.
The platform’s return system is barebones, and if you want the best out of it, you’ll have to integrate your own return process on Shopify. Various management apps can help you out with this, each with its own advantage and disadvantages. So look into these apps and try them out and see which one fits your business model.
5. Don’t Forget Your Logo!
If you want consumers to remember your store, you’re going to need a logo. People are most likely to remember your logo more than your name or your products. It’s simple mnemonics. When they think about the product in your niche, they think of your logo. You might not have an artistic side, but anyone can create a logo through various online platforms. If you really don’t feel confident about it, hire someone to do it for you. Having a logo for your shop will make it look more professional. It is also your first step when it comes to branding.
These are the things you need to know when starting a business on a Shopify platform. The platform makes it easy for you to start a business, but you’re going to need these tips if you want to succeed. Once you’ve figured out everything you need to do on this list, then it’s time to start your business on Shopify.
