In this piece, you will learn how to import one specific product from China to sell for profit. It is important to start with one product base and move from there as the business grows because you want to be able to manage it properly. This will help minimize the probability of complications.
Firstly, It is important to have a very specific target market you want to sell to. What this means is that you know the exact people you want to sell to. The market needs to be primed and ready to actually buy. You do not want to sell to a bunch of people who are not already interested in products like yours or have no need for them. It will lead to wasted efforts, so the market has to be willing to buy. The main thing to note is that there is no product for EVERYONE. You increase the chances of success for your business when you sell to a specific group of people.
There are two main markets which the male and female markets, these markets can then be divided into various things that may motivate them like age, religion, interests and spending power, work, education and so on. Whichever target you decide to settle on, they must have a willingness to buy and the means to purchase the product. This means that the market you choose must be able to afford your product.
Target audiences that are 25 years and older are usually the best buyers so it is advisable to start there. There are tools you can use to pinpoint who you should be selling to, and when they are used properly your market compass should be fine-tuned. Tools like Facebook Audience Insights, Google trends and trending topics on Twitter and Instagram are good places to start. You should also take time to learn to use the tools properly.
So you may have started making efforts to select a certain target to sell to. The next is how to figure out exactly what you can sell to them that they will be willing to buy. Start from something that is relatable to that group like wristwatches for men and stylish pantsuits for ladies.
Now to get into the nitty-gritty of it all. This is where we get answers to the big question of where you can buy these items at a cheaper rate than you are going to sell. The best places to start are
These products that are sourced from Chinese factories give you the best advantage and once you try out the websites with different products and strategies in hand, you should get the hang of it. Then you can decide on the one that offers you the most value. Aliexpress does not usually offer wiggle room on price but you can negotiate prices on Alibaba.
Now cut to issue of shipping. Again you want the option that gives you the best, so do your best to shop around. The first thing to focus on is getting value for your money, you should still be able to make a good profit even after shipment fees. Then you want to make sure they are shipped properly so they arrive in safe conditions. Standard shipping which you will get from these websites may cost too much and may affect your overheard. It is much better to use group shipping options that offer decent prices for safe shipping. A simple google search will lead you to competent companies that offer these services.
So now that you have all that setup, you need to find the best value for your money in terms of selecting not only what product to purchase but what manufacturer to buy from. The best way to select a product to buy is to look for options that do not carry much weight, like buying phone cases instead of actual phones. Starting with something manageable gives you a better scope of the business. Products that range from $0-$5 are a good place to start. The E-commerce always comes with risk in that you have to pay everyone else, namely, the factory, shipping company and so on before you start making money.
Safe and secure products are in the fray right now, your goods have arrived. At this point, you are pretty much in business. But the exciting part of it all has only just started. You have this awesome product and you know people are not just going to magically come to you to buy, you should be buzzing to tell people about it. Well, there is an efficient way to do it. You should always pick a medium where your intended target frequently visits, like sports news sites for men’s products.
In your advertising, you need to write engaging copy. A very interesting way to approach is by thinking of the end product, the satisfaction you get from it. The reason to buy a bottle of perfume is not just so you can smell nice, it is so that when a woman passes by you, she immediately gets an attractive first impression about you.
Getting your logistics right may seem like a hassle but it is worth it in the end, you want your customers to keep coming back to you. Good customer services can be responsible for this. So it is important to use reliable delivery services and deal with customer complaints as soon as possible. You can start with these
Let’s get straight to the investment talk. Since you started reading you have probably been thinking of how much you want to spend on this new venture. These are some calculated recommendations. Start with a N50,000-N100,000 investment into the business. This small scale will give you room to evaluate the entire to see what works. If you are not getting the desired results you can always switch it up.
This has taken you through a step by step on the process cycle for starting your own e-commerce business. Hope you find it very helpful and feel free to refer back to this anytime you get stuck anywhere at any time. And if you wish to tell us about your experiences, feel free to do so.
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