The Shopify Apps Store boasts of lots of Free Shopify Apps. In this piece, we set out…
Shopify Product Evaluation Tools For Every Dropshipping Business
Shopify Product Evaluation Tools re essential to help you as a dropshipper analyze the products you about to add to your Shopify store. This comes in handy more so if you have studied the product demand
- The use of Google Trends
- The use of social media such as Twitter, Instagram, Facebook (this will enable you to know if people are passionate about your niche)
- You can also use Google to search for your competitors
- You can also use platforms such as Alexa.com or similar websites that perform the same functions (starting with their free web versions). These will enable you to estimate the number of traffics they gathered
- Use BuzzSumo to enable you to know the pages which have the most shares on your competitor’s stores
- You can also look onto your competitor’s Facebook or Twitter pages of your competitor to see their updates
- Check up the domain on a platform such as who.is to get information about the store
Once you have enough information about the product you are going to sell, concluding on your desired niches, the next step to follow is to evaluate your ideas.
Evaluation of idea will allow you to know how viable your product is for dropshipping, the testing then comes after evaluation.
The first part of the evaluation that you should do is first to measure up the demand for the product, measured the level of competition from other retailers, then lastly, analyze the product idea.Hope you learning something new as of Shopify Product Evaluation Tools is concern.
You should make sure you confirm that the product or type of product you choose for your store can be dropshipped, you choose a product that fits your requirements, there may not be many suppliers that offer you dropshipping service.
In this type of scenario, find a supplier who enables dropshipping of his products, for every product, there is virtually a supplier who enables dropshipping. Google searching will allow you to search for suppliers of a particular product that enables dropshipping.
This can be done, take, for example, you might google search the word “slim tea drop shipper” just to see the available lists of suppliers that enable dropshipping of slim tea.
Now that you’ve seen the available results. The next thing to do is to evaluate the level of demand for your chosen product idea.
Evaluating The Level Of Demand For Your Product
There are some ways to measure the level of demand for a particular product, in this lesson, I will only talk about the basic tools that will assist you in evaluating the level of demand of a product by potential customers.
Since dropshipping gives us the liberty of testing ideas, we don’t need to over-analyze our ideas, just with a simple evaluation, you can move onto the stage of testing.
Let’s take for instance, after seeing a drop-down of the result of your “slim tea” search; the testing stage entails; you check on how the product or niche is talked about on various social media.
Take, for example; you might use Twitter, Facebook or Instagram to see how people are talking about the product, all you need to do is to enter the product in the search bar, e.g. search “slim-tea,”.
Various discussion of people about the word will be provided to you in the result. Meanwhile, the Facebook and Instagram will allow you to see how people are discussing the product passionately; you will see the picture been shared and people’s thoughts and reactions on the product.
How To Measure Product Competition on The Market
The next step to undergo is to try and identify the top competitors for your products; this will enable you to evaluate your strengths and weaknesses, it will give you a means of understanding how to move along and probably get ahead of your competitors. You should know that competition should serve as a means of encouragement and not a means of discouragement.
You can open up a page on your computer or bring out a pen and paper to list down your top competitors, knowing your top competitor can be done by following this simple step, I have been doing this, and it has been working like magic.
Google search “buy slim-tea” you will see what comes up. First, you can even click on the “top Ads” button to view the leading competitors.
From this simple task, you can have a glimpse of your competitors. You can also use Alexa.com to see how much traffic they are generating.
Besides using Alexa.com, similarweb is also another form of platform or “spying tool” to spy on your competitors and measure demands based on guesses on data from your competitors.
It will show you your competitor’s traffic and the source of their traffic. This will allow you to validate your product and give you better ideas on how to go about marketing your products later.
Another thing you can do also is to engage in “social proof,” check if there are a lot of people sharing these stores, check if there are lots of people engaging with these product brands on their social media, this will serve as another means of indicator to show the level of demand of such product. ‘
The more people are engaging with the product; the more passionate people are with the product is another indication of the level of familiarity of people with the product.
This will give you more confidence that you can also create that kind of result with your online store and your product.
BuzzSumo is a business analysis tool that will tell you the pages which has the most shares on your competitor’s store. Searching their Facebook pages and Twitter pages helps you in gauging their level of engagement.
Besides the level of engagement, you can also check their domain to have an idea of how old their store is, checking the date in which the domain was registered a means of knowing the age of a store.
Additionally, when you see new stores that are top competitors with a lot of traffic and social media proof is an indication to you that the store owners have done a great job in the fast growth of their store, perhaps you might get some tips on how to improve your business also.
This will also encourage you to seek great strategies on how to improve your store. You should remember that “healthy competition is a great thing in business” it’s sometimes better to go into an active and competitive product market than a weak one.
High competition on a product means the product is selling fast and people are making a whole lot of money.
Nobody will engage in business and stays in such business without the business fetching him or her a whole lot of money. High competition on a product is a prove to you that such a product is doing well in the market.
Another thing that should be paid more attention to is that; you should identify you top competitors for your product and also determine your target customers.
Some Important Questions
With the above analysis, at this juncture, we will either be encouraged or discouraged with our results. If we are encouraged, that doesn’t guarantee that our chosen product will automatically work for us.
What will make us understand what will work for us or not is the testing stage? The testing stage will inevitably prove to us if truly our business will work. That’s what makes dropshipping outstanding!
Before testing, you can answer some few questions to assist you in evaluating your product before then subjecting it to a test.
You should give a quick answer to some random questions. Below are a few questions that your dropshipping business should be answered
What type of product are you dealing with?
Are the products small and easy to ship or quite bigger? It’s evident that smaller products are easier to send than larger and heavier ones. Small products will acquire a low shipping cost.
Do the product come with a lot of accessories? Does it have the potential to cross-sell with other existing products? You should know that the accessories that customers can purchase in addition to their primary offer help in increasing the order value.
What is the level of turnover for the product?
Does it have a low turnover, or does it always change? If the product has a low turnover, then more maintenance and communication will be required between you and your product supplier.
How easy is the product’s ability to be found locally? Is the product hard to find in your locality? If yes, this will fortify your product in making it a “hot-cake.”
Another important question that should be asked is that Who is your target customer? And what is your markup potential?
The above questions should be answered, but we will have to answer them together as I will begin to talk on how to test your products and how to go about getting your first order.
In the next module, I will take you through how to setup a basic shopify store. Make sure you go through what we’ve talked about and put them into practice, yo will start seeing the result soonest.
The above summaries our Shopify Product Evaluation Tools that you need for your dropshipping bsuiness success. If you have any other question in relations to Shopify Product Evaluation Tools,kindly leave a comment below and I shall revert.