Can You Still Make Money with Shopify Stores?

CAN YOU STILL MAKE IT ON SHOPIFY?

Many successful Shopify owners can make huge profits, but the main concern is whether Shopify is profitable for all beginners and whether it is still possible to make money with it in this present climate. You'll be interested in knowing that setting up a Shopify store can still help you make a lot of money. With a little investment in marketing and social channels, it is a reliable income stream for many online entrepreneurs. 

On the other hand, some factors affect the amount of profit you'll make, such as your product, marketing skills, returns, refunds. This article will give you insight into your possibility of making a tangible profit as an online store owner, hobbyist, or anyone seeking an additional source of income.

Ways in Which You Can Use Shopify Store

We'll explore two ways beginners make money online, namely selling their own products and drop shipping.

          1.    Selling Your Own Products

If you have specific skills that can meet the needs of people around you or in the world, you can design your product and decide to sell it on Shopify for you to make money. It could be anything, like T-shirts, hand crafted items, to simple greeting cards. 

Most celebrities use this method to generate additional income, as they develop their brand and sell it to their followers. Kylie Jenner, from Keeping Up with the Kardashians, for example, created a site on Shopify called Kylie Cosmetic, a beauty company whose products are now widely used. 

The only disadvantage of this method is that you may have to deliver the goods to consumers. However, there are tons of delivery companies that can help with the delivery both local and international.

           2.    Drop Shipping

Many people make money from Shopify through the drop shipping method. Countless online businesses have made millions of sales by dropping shipping trendy and seasonal products. 

Drop shipping is when you accept a customer's order, even though you don't have the product, and make a purchase to the manufacturer or another store that does, and have the manufacturer deliver to your customer. You, however, need to ensure that the goods reach the final consumers and are the customer services for your customers. If anything goes wrong, you will have to deal with it.

Another downside of drop shipping is that you usually have to buy the product from the manufacturer while waiting for the funds to be cleared from your customer. Unless you have an account with the manufacturer or enough funds to cover the sales.

Which One Is Suitable For You?

As startup costs are relatively low, drop shipping will be good for those who are not a celebrity or influencer with many online followers to be your potential customers. If drop shipping is properly set up, it can help you move from your day-to-day job when you become successful. The profit you will make from it will be enough to meet your daily needs and have extra to save.

Factors that can affect the profitability of a Shopify store

          1.    The Appropriate Product

The product you have decided to sell will determine the profit you will make in Shopify stores. A product that is not good enough will not make a lot of sales. For example, if your product is available everywhere at a cheaper price, you may not succeed in selling it because it's so easy to get from many of your competitors.

You can decide whether the product you choose will help solve a problem for your customers, unique and not available on other platforms, such as Amazon or any other big Shopify stores.

          2.    Targeting the right audience

You should know that you need to target your Shopify adverts to the right audience to make money. Most people use Facebook ads to ensure their products reach the customers they need. Not targeting the right audience will burn through your marketing budget fast. Using all available social media platforms to reach your customers is a good call.

          3.    The Appropriate Price

Your product's price tag can make or break your profitability on Shopify. Once you've found a product with good market value, you have to make sure it's not too expensive, to make customers avoid buying on your site, and it's not too cheap, to reduce your profits.

          4.    The Duration of Shipping

Shipping period is of great concern to many Shopify users. Customers prefer when their goods are delivered timely to meet their needs promptly. With that, make sure your delivery period isn't too long. 

In cases of drop-shipping, stick to a good supplier. For instance, many people love using Aliexpress, even though some of their products take more than a month to get to the final customer. Customers can be told they'll get it at a great price, but there will be long shipping times. Sometimes it's better to use suppliers who are local to your customers and deliver faster.

          5.    Customer Service

It's hard to survive as an e-commerce store without great customer service. People need to know that they can get service, replacement guarantees, refunds, and track their goods before they order from your store. 
Customer service determines how long a buyer will keep coming back to you. Therefore, it's important to ensure that your customer's services are properly set up.

          6.    Trust

Most people keep buying from stores like Amazon, eBay, because customers trust them, and they also provide high quality customer service and proper follow-up to concerns and complaints. This, and many other things, will help you build a solid foundation for your Shopify store. 

Ways to build trust include ensuring that users have access to return policy, terms and all essential conditions. Add some contact information, too, that will help your customers know you are human, and they can easily reach you. Provide the answer to frequently asked questions, and if possible, add a F.A.Q. Page.  Make sure your shop has a unique look and works well with no security issues. This will help build trust as much as possible.

Are You Ready to Open a Shopify Store?

It takes a lot of time to establish a profitable Shopify store, and it could be a blog for digital services, affiliated marketing websites, online store selling products. Every one of these takes time. It is important to note that failure sometimes is inevitable, so you don't have to be disappointed if you fail at it or are not making a profit as much as you expected.

Just don’t give up at any point. Consistent activity will eventually lead to success. Contact us at BBNDRY if you need help setting up your Shopify store. We can set you up for the best possible opportunity to start you’re Shopify store.