Tips for beginner dropshippers. One product store
Tips for beginner dropshippers. One product store
In the Selpway Trading blog we continue to talk about the types of online shops, their advantages and disadvantages. Today we are going to talk about a one-product shop - it is an electronic trading platform specialised in selling one product. The product on which the shop is built is called a "flagship". It can be presented in different variants (colour, size) and supplemented with accessories, but the product range is usually quite small.
Advantages of a single product shop
Focus your attention and efforts on just one product. Let's say your shop development plan has 10 items that need to be monitored and improved every day. They relate to each product. If you have 10 different products on your site, that means you have 100 actions to perform each day. The more products you have, the more work you have to do. A shop with one product is easier to optimise and develop.
It takes very little time to create a professional website. This is not the case with niche and general stores, where you need to develop a separate page for each product.
Concentration of advertising budget. A big plus is that the advertising budget is distributed within a product. For example, you plan to spend $100 per day on advertising. If you have a niche shop and you want to test 10 different products, then the advertising budget needs to be spread across all the products. If there is only one product, you have many more opportunities to test creative with the same budget.
Branding of products, website, content, advertising campaigns. Compared to a niche store and a general store with many products, you will spend less time and money creating branded products and promotions.
High conversion rates. Generally, one-product shops have the highest conversion rates because all the traffic is directed to that one product.
Focus your attention and efforts on just one product. Let's say your shop development plan has 10 items that need to be monitored and improved every day. They relate to each product. If you have 10 different products on your site, that means you have 100 actions to perform each day. The more products you have, the more work you have to do. A shop with one product is easier to optimise and develop.
It takes very little time to create a professional website. This is not the case with niche and general stores, where you need to develop a separate page for each product.
Concentration of advertising budget. A big plus is that the advertising budget is distributed within a product. For example, you plan to spend $100 per day on advertising. If you have a niche shop and you want to test 10 different products, then the advertising budget needs to be spread across all the products. If there is only one product, you have many more opportunities to test creative with the same budget.
Branding of products, website, content, advertising campaigns. Compared to a niche store and a general store with many products, you will spend less time and money creating branded products and promotions.
High conversion rates. Generally, one-product shops have the highest conversion rates because all the traffic is directed to that one product.
Disadvantages of one product shop
One of the disadvantages of a one-product shop is the amount of income it generates. This does not mean that you cannot make good money. It is just that the amount of money you make from selling one product will be less than if you sold several products. At the same time, you will have to spend less on advertising.
Every time you don't get the results you want, you'll have to start from scratch. For example, you will not be able to stop advertising a product that is not making money and immediately start advertising another product. You will have to stop everything, find the product again, completely change the site or create a new one, etc.
One of the disadvantages of a one-product shop is the amount of income it generates. This does not mean that you cannot make good money. It is just that the amount of money you make from selling one product will be less than if you sold several products. At the same time, you will have to spend less on advertising.
Every time you don't get the results you want, you'll have to start from scratch. For example, you will not be able to stop advertising a product that is not making money and immediately start advertising another product. You will have to stop everything, find the product again, completely change the site or create a new one, etc.
What is the best way to develop your dropshipping business?
On the one hand, it is easier and cheaper to set up a one-product store, but on the other hand, there may be problems selling the exact product you have chosen as your main product. To minimise the risks, your dropshipping business development plan could look like this
On the one hand, it is easier and cheaper to set up a one-product store, but on the other hand, there may be problems selling the exact product you have chosen as your main product. To minimise the risks, your dropshipping business development plan could look like this
- If you are just starting out, you may not know which product to focus on. You can start with a niche shop where you sell a small number of products. You can read more about niche shops in our previous article.
- Run ad campaigns for 3-5 days for each product in your niche shop. Test them one by one, don't promote the whole range at once. By testing each product individually, you will find it easier to identify a favourite. Once you have been dropshipping for at least a year and have gained experience, you will begin to understand which product sells well.
- Once you have found a product that is in high demand or unique in the market, create a separate shop for it. Develop branded advertising campaigns, website content, etc. This will help you achieve high conversion rates. Customers will see your logo or company name and immediately recognise the product you are selling. Of course, you can add other products to the catalogue over time, but the main product will have the greatest branding impact.
In order to choose a profitable product worth investing in, you need a high level of market research. The experts at Selpway Trading can help you with this. Our digital tools allow you to search for information, find partners and buyers. Selpway provides clear analysis, saves time and reduces costs for your business.