Shopify Dropshipping: A Complete Guide

This is your complete guide to dominating Shopify Dropshipping.

You will learn tested strategies that are working right now.

So if you’re just getting started or looking to improve your Dropshipping site, you’ll love this guide.

Let’s dive right in.

Chapter One

What is Dropshipping?

Can you imagine making money without handling any stock?

Without handling any shipping, producing or related fulfilment efforts?

With these benefits, it’d be less intimidating to start your own business or even businesses!

What is Dropshipping?

Dropshipping is a way of selling products to your customers without holding any inventory yourself.

You just let the supplier know when an order has been placed and they will ship directly to the customer.

It’s easy to do and can be very profitable.

This process is how most Shopify Power Sellers work.

Finding good suppliers can be tricky though, which is why most people use a wholesale Dropshipping directory to help them find quality and reliable suppliers.

Many people use Dropshipping to create significant income streams on the internet.

You’ve probably heard about people who make their full-time living from Shopify.

Sure, some people check out local garage sales, pick up a few things and sell them online.

However, most people who are making big money do not even see the products they sell.

They don’t even pay for them ahead of time.

Shopify Dropshipping Infographic

How does Dropshipping work?

Dropshipping is a new system: a seller chooses a product to sell to their customers.

These products are often sourced from Dropship suppliers registered on a Dropshipping directory site.

The seller can add the product to sell on their website or other sites like Shopify, without buying it in advance.

This method is useful because the seller can copy the images from the Dropshipping directory site.

They can add them directly on to other sites and social networks as well as the e-commerce sites to have more visibility.

When the product is sold, the seller will directly notify the supplier.

As for the last step, the supplier will directly send the product to your customer.

Your earning is decided upon the percentage on each product, previously agreed with the supplier.

The rate is different and varies from one to another merchandise category.

Want to get started? What should you do?

  1. Choose a reputable drop shipping company. Make sure you know what products you want to sell. Moreover, find the right company.
  2. We wouldn’t recommend purchasing a Dropshipping directory list, most reputable Dropshipping directories are publicly available and few are kept secret.
  3. When choosing the Dropshipping company, know their policies on shipping, back orders, returns, and exchange.
  4. Choose the company that can give you higher markup but is of good quality products.
  5. Be careful with joining fees. Many require fees for you to participate. So be sensible. Is it going to be worth the investment?

Whom is Dropshipping aimed at?

Suppliers makers, manufacturers and traders

Suppliers, makers, manufacturers, traders who want to extend their selling online, widening their business horizon in an effortless and quick way, contacting thousands of traders directly on the web.

Managers of e-commerce

Managers of e-commerce, sellers on Shopify and online sellers who want to expand their online list without any investment or to advance money which is often needed for buying the products to cut entirely all the start-up costs and warehouse one.

You will have the chance to choose any product to sell on the behalf of Dropship suppliers.

You will be finally able to focus exclusively on the selling and the sponsoring of the product, cutting time and costs.

That’s Dropshipping in a nutshell

Now that you have enough knowledge about Dropshipping.

If you are planning to have your own home based retailing business be sure to establish a legitimate and legal business by paying your taxes as one of those retailers.

Protect yourself by running your business as a real retail business.

Make sure to establish and maintain a good reputation, mutual business interest with Dropshipping Companies as well as the wholesale company.

Chapter Two

The Supply Chain and fulfilment Process

All great companies take time to question why and how they conduct business.

Their strategy, their structure, and of course operations.

For companies that manufacture and distribute their products, having an efficient supply chain is core to their business success, but likely not a core competency.

Often, core competencies lie in product innovation and sales and marketing.

Why would a company like this, particularly experiencing strong growth, try to manage the supply chain through to fulfilment?

Supply Chain

The supply chain is used when describing the process starting from product conception through manufacturing and finally comes into the hands of a buyer.

In some cases, it goes deeper, right from getting, e.g. oil from the earth, but that is too much for what we mean about the Dropshipping supply chain.

To prosper in this business, you need to understand and separate the three most essential parts in the whole Dropshipping supply chain: manufacturers, wholesalers, and retailers.

To avoid any headache we do not need to go deep into this matter.

Manufacturers

Manufacturers are the people who create the product.

Wholesalers

Wholesalers are the intermediates who buy products from manufacturers in bulk, mark them up to some extent and then sell them to retailers for resale to the public.

Retailers

Retailers are the people who sell goods directly to the public.

The order fulfilment process refers to all the steps companies must take from the moment they receive an order until the items land in customers’ hands.

For many wholesale distribution companies like Shopify, an order fulfilment process might look like this:

  • The request is received, online, in person, on the phone or via email.
  • The customer is notified that the order is on its way.
  • Next, the order must be entered into back-office systems (like an ERP or accounting platform)
  • The order is picked: a worker goes into the warehouse, finds the items in the order, and pulls them off the shelf.
  • The customer is notified that the order has been received.
  • The order is packed to prepare for shipping.
  • The order is sent to the warehouse. A paper order might be taken to the warehouse as part of a batch, or it is shipped directly from an invoicing or sales order management application.
  • The order is shipped.
  • Order arrives.

Supply chain management, like any industry, is evolving and technology is playing an increasingly significant role.

Product labelling, inventory management, and fulfilment processing are increasingly automated.

Automating the inventory and fulfilment process flow means efficiency. It also means significant and ongoing investment in advancing technology.

How many companies can afford capital expenditures in what mostly is a “support” function?

Not many and those that do are likely not to build a “best in class” system.

Now you understand the process, let us focus on finding those that work with you in this process, the suppliers!

Chapter Three

Finding and Working with Suppliers

Suppliers are essential to almost every business.

Finding the right suppliers is essential for building a successful Dropshipping business.

Whether you’re sourcing raw materials for manufacturing, buying stock from wholesalers or looking for the best internet service provider for your online store.

You’ll need to find suppliers who are reliable and meet your particular needs.

Having reliable suppliers is an integral part of providing your customers with quality products and services at competitive prices.

If you cannot source the right parts or merchandise, at the right price and at the right time, you could lose your ability to trade.

The usual process involves finding a supplier that will be Dropshipped to your customers and set up an account.

Each supplier has a different way of setting your account.

The best way is to try and set it up on credit.

Most wholesale product resources will still like to set up an account and pay for the items you sell.

After you have set up the account you need to get photos and product descriptions for the things you are going to sell.

If you have a pay-as-you-go account, you receive the payment for the product you have sold; you will then log into your supplier and go through the checkout to pay for it.

You will be entering the buyer’s name and details where the product is to be shipped.

The supplier will then package up your sold product post it to your account and send it.

Drop shippers like Shopify do all the work for you.

They take care of all of the stock management and delivering of your product which saves you a lot of time and trouble.

If you want to create a sustainable income for yourself by selling products online, you should find a reliable supplier like Shopify.

Words of Warning

Due to internet scams, many middle-men misrepresent themselves as a wholesale drop shipper.

This way, many online businesses are unable to find the products at real wholesale prices.

Ultimately, they end up losing money which they could have earned if they would have been dealing with real wholesalers.

We will mention some helpful tips to find and work with legitimate suppliers.

Professionalism

Professionalism is quite a broad concept, but surely you grasp it.

Dropshipping is a professional relationship in which several agreements must be upheld.

Don’t entrust your business’ credibility to the first person that makes you an offer.

Competitors

If your supplier is the same one as the one supplying for another 14 e-commerce businesses in your niche, it’s going to be challenging to differentiate yourself and position your business’ brand.

Punctuality

Punctuality is implied within the professionalism concept, but it deserves to be highlighted because of its importance related to shipping.

he shipping times must be established and, more importantly, met.

Suppliers charge a refundable deposit to set up an account

You should keep it in mind that if a supplier is charging you an account set up fee or monthly account maintenance fee.

You are most likely dealing with a scammer as a legitimate wholesaler never cost either of these fees.

However, the real wholesalers will require a small refundable deposit to set up your account in their database.

Proximity

Proximity is not compulsory, but it is advisable.

That is why when we talked about looking for ideas, we mentioned looking for a nearby business.

Knowing your supplier in person is an outstanding practice.

If they are located far away but the company is working well, think about the idea of a taking a trip to get to know where your products are being made.

Rigour and contract

Crystal clear accounts can maintain the relationship.

A good drop shipper will ask for a deal and some conditions to be met.

Moreover, you should do the same.

I hope the tips mentioned above will help you to find and deal with legitimate and reliable suppliers.

Chapter Four

Picking Products to Dropship

Dropshipping offers many conveniences to sellers such as low upfront costs, no inventory requirements and low risk.

However, the flip side is that you have to do some extra work if you want to make drop shipping work for your online business.

So if you plan on using a Dropshipper like Shopify, then you need to plan on being more selective when you’re deciding what to sell.

Aside from Dropshipping, finding products to sell in your online store can be a complicated process, especially if you’re new to e-commerce.

After all, it’s critical that you fill your store’s inventory with high-quality products which you can sell at an affordable price point for your customers.

One of the easiest ways you can achieve this is by running your business with the Dropshipping method.

When you’ve added great products to your Dropshipping store, there’s no limit to the amount of profit which you can generate.

Picking the Right Products

Choosing the perfect products that you’ll market and sell on Shopify is at the crux of your business, so make sure you set your sights on the right ones.

The Right Price Point for the Service: You absolutely must think about the price tag about the kind of pre-sales service you have to offer.

For instance, if you’re planning on selling a high-ticket item, you’ll have to be able to afford a high level of service, including direct phone contact.

Someone forking over $2,000 for a product will no doubt want to be able to chat with a sales rep first before opening their wallet.

Make sure the margins are thick enough to justify the amount of support you’ll have to provide.

Not Easily Found in the Local Market: You can capitalise on a product that isn’t readily available in your local market, as long as you aren’t to razor focused.

Anything that can’t be found at the local store will probably be searched for online, and your e-commerce store will be ready and waiting.

Low Turnover Rate: Try to focus on products that don’t have to be updated every year.

Focusing on a low turnover rate will help your capital last longer.

In contrast, if the product changes annually, so will your website, which will just cost you a ton more time and money.

Marketing Potential: Don’t wait until after you’ve launched your product before you consider marketing it. That can be a total nightmare.

Instead, start thinking about your marketing plan well in advance of the product’s launch and brainstorm some ideas to promote your online shop.

Finding Products

If you’re interested in finding products which are currently trending, or products which are likely to be popular in the future, you can check out the following resources:

The numbers don’t lie.

Dropshipping is a great way to enter the e-commerce field.

Dropshipping is an up-and-coming business model.

It’s even more encouraging when you choose the right type of products so that you can get more sales.

The good thing is, what works for you might not work for others, so you don’t need to worry as much about competing sellers who might be inspired to follow your chosen path.

Chapter Five

Starting Your Business with Shopify

Starting an online business is an excellent decision to begin or expand your business.

For your own e-commerce business, launching the first online store can be confusing.

You have to make many decisions before starting a store so that you do not take any wrong step.

One wrong move can waste all your efforts.

So, for starting a successful store, you will benefit by the following guidelines.

Shopify is an all-in-one commercial system, where you pay a monthly fee to use the company’s web design, e-commerce, and product management tools.

It’s all packaged into one product, so you can just choose a template, upload your products and start selling online.

Shopify is a robust e-commerce platform that allows business owners and Entrepreneurs to quickly set up their drop shipping with ease.

Shopify has gained the attention of many investors as well as individual small businesses.

Every year, Shopify runs a build a business contest, where anyone can sign up and create a drop shipping on Shopify.

How to start your business with Shopify

Think Of Something To Sell

It can be anything: t-shirts, arts & crafts, gadgets, or even the world’s best cupcakes.

The only limitation is your imagination. Shopify also allows virtual goods.

Create Your Shopify Store

Shopify makes it easy to sell online.

Pick a template, add your products and launch your store.

You can accept your first order in minutes.

You don’t need to be a top-notch coder or designer.

Shopify comes preloaded with templates and easy to adjust colour changes making your store setup process fast and simple.

Customize the Look of Your Site

Go back to the central dashboard, and select the Customize the Look of Your Site button.

This area asks you to customise anything from logos to colours.

The customising takes a bit of tinkering, but the central part you want to focus on is the link that asks you to Visit the Theme store.

Here you can browse through the hundreds of themes in Shopify to make your site look awesome.

However, we tend to stick with bespoke websites for our customers.

Get a Domain and Register Accordingly

Your domain is your web address.

It’s what people type when they want to have access to your website.

Tip: Choose a domain that is simple, not too long or too short, and a quite catchy one to make it easier for people to remember.

You can purchase a domain in many legitimate domain registrars online, some of which are Blue Host, Go Daddy, and Network Solutions.

Grow Your Business

Just for entering the Build-A-Business competition, you’ll receive a free .co domain for 12 months and $100 in additional advertising from Google AdWords.

The free benefits cut out a lot of advertising cost in the early stages allowing you to put more money into inventory and other expenses.

$100 is an excellent way to start building up your Facebook fans.

Make sure that you set up the ad campaigns wisely.

Setup a Payment Method

The easiest way to transact with online businesses is to set up an online payment method rather than the traditional one.

PayPal is a popular online payment method.

Google Checkout accepts online payments as well.

Before you give out your credit card information though, check out the terms of your service provider.

Choose the one that provides the lowest maintenance cost without compromising the quality of service.

Setup a Delivery Method

If you offer a service, it could be quickly done online using various methods, including email.

If you provide products, the process depends on your product type.

If you provide tangible goods, you should do this with fulfilment companies.

If you are providing products that could be downloaded, try out electronic fulfilment companies like Shopify.

That’s it!

Simple steps along with a sign-up submission and your good to go.

If you already have a domain with Shopify, there is a section at the bottom that allows you to select an existing shop.

This is an excellent way to grow your startup this week!

Chapter Six

Evaluating Sales Channels

Before the Internet, there were primarily two types of sales channels: direct and indirect.

Once a company chose its sales channel, it built a similar marketing strategy to support it.

If you were a brick-and-mortar store, that’s where you sold your products.

If you were a wholesaler, you sold through distributors or resellers.

It was fairly straightforward.

Choosing Sales Channels

Your strategies for sales channels will influence the marketing channels you select.

First, decide whether you want to sell directly or indirectly to your target consumers.

If you have your online store, you are already selling directly.

However, many successful e-commerce businesses never sell products directly.

They market exclusively through indirect channels like marketplaces.

To the consumer, this is a direct sales channel.

However, if you sell your products or even have a microsite within a market, these are indirect sales channels.

If you sell on Shopify, for example, that company owns the customer experience.

It collects the money, sets return policies, and risks its reputation.

This post discusses three-factor that provide a solid starting point when assessing if you’re ready for channel sales and how to maximise success in your approach in Dropshipping.

  1. Product maturity
  2. Partner enablement
  3. Organizational alignment and support
  4. 6 Factors To Consider When Evaluating New Sales Channels

What Do Your Customers Need, and How Can You Fill Those Needs?

For instance, perhaps you have been retailing your product to customers from one location.

Now there’s demand for it regionally, but you don’t want the hassle of opening new stores or an e-commerce website.

Could you meet customers’ needs by wholesaling to stores in the region?

  • How Will This Sales Channel Affect Your Prices?
  • Moreover, if you have to raise prices, how will it affect your business’s profits?
  • Is There a Conflict With My Brand and With Existing Channels?

Some sales channels may not fit with your brand image.

For instance, high-end fashion apparel could lose some cachet if sold through online affiliates.

A product sold at big-box stores probably wouldn’t sell well at independent boutiques.

How Much Does This Sales Channel Cost?

If it costs more than your current sales channel, can you raise prices or cut costs elsewhere to compensate?

Don’t forget the costs of additional salespeople and marketing efforts that may be needed.

What Does Sales Channels Your Competition Use?

In most cases, using the same sales channels can help you compete more effectively.

However, depending on your brand image vs that of your competitors, there might be times when using a different sales channel could differentiate you.

For instance, selling directly online-only could make your business look hip and cutting-edge, mainly if your competitors all sell from physical locations and have poorly designed e-commerce websites.

What Geographic and Demographic Markets Does This Sales Channel Reach?

More specifically, does the new sales channel appeal to the customers you want to attract?

Chapter Seven

Running a Dropshipping Company with Shopify

The world of drop shipping is often considered the easiest way to sell products online.

The most significant difference between drop shipping and the standard retail model is that the selling merchant doesn’t stock our inventory.

Instead, the merchant purchases inventory as needed from a third party usually drop shipping wholesalers or manufacturers to fulfil orders.

Dropshipping is a business model where you can sell physical products without having the actual items with you.

This business process is also known as retail fulfilment where you connect to a third party who will be responsible for storing, shipping, and delivering the products to your customers.

One of the best platforms to start a dropshipping store is Shopify.

Steps To Running A Dropshipping Company With Shopify

Naming Your Shopify Dropshipping Store

This is the first step that you’ll take towards opening your Shopify dropshipping store.

Here are some top tips for coming up with a name for your online company:

  • Keep it simple.
  • Be creative.
  • Make it memorable.

Creating a Shopify Account

Creating an account for your Shopify dropshipping store is a quick and straightforward process.

To start, you’ll need to visit Shopify’s homepage.

Once you’ve loaded the page, you’ll see an empty field at the top of the screen where you’ll need to enter your email address.

Optimising the Settings for Your Shopify Account

At this point in our Shopify dropshipping guide, we’re going to go through the settings of your newly created Shopify account.

This step is essential so you can receive money from your customers, build your store policies, and establish your shipping rates.

Payment Information, the first thing you’ll need to do is add a payment option to your Shopify dropshipping store.

Store Policies, when you’re launching your own Shopify dropshipping store, you’ll need to make sure that you have created the necessary store policies.

Shipping Rates, it’s critical that your Shopify dropshipping store has visible shipping rates.

Launching Your Shopify Dropshipping Store

You’ve now added all the necessary information that you’ll need to start your Shopify dropshipping store.

To launch your store, just access the “Sales Channels” option on your Shopify settings. From here select the “add an online store” option.

Once you’ve finished this set, you’ll have an online store which is up and running!

Designing Your Shopify Dropshipping Store

In this section of our Shopify dropshipping guide, we’ll go over the importance of design for your e-commerce store, and we’ll talk about some critical points for you to consider.

The design of your Shopify dropshipping store is going to hold great importance, as it will be how you’re presenting your store and your brand.

When it comes to design, there are two main aspects that you’ll need to take into consideration when you’re designing your Shopify dropshipping store your theme, and your logo.

Dropshipping on Shopify

Once you’ve sorted out the design of your Shopify dropshipping store, you’ll need to start adding products, so you can start generating revenue.

To add products that you can drop ship, you’ll need to install the Oberlo app, which is the leading platform for e-commerce entrepreneurs who want to import dropshipped products to their Shopify dropshipping store.

Making Your First Sale

Now it’s time to start generating revenue and making sales with your Shopify dropshipping store.

In Conclusion, You’re now the owner of your own Shopify dropshipping store. Congratulations!

Chapter Eight

Growing your Dropshipping Site

So you’ve opened your Dropshipping site on Shopify.

The ease of Dropshipping is that you have all the products you could need at your fingertips, so you must get proactive for how you can differentiate your store, provide a unique shopping experience, and keep your customers coming back for more.

Here, we’ve laid out six key strategies to implement within your Dropshipping site on Shopify to see those revenue numbers soar.

Dealing with Problems

As you sell more, you’ll be faced with problems.

This happens to the best drop shippers, and if you don’t know how to deal with these problems ahead of time, your business (and reputation) will suffer.

First, always expect the unexpected.

Even when things are going smoothly, you never know when your supplier is going to ruin an order or when a customer will send you an angry email.

There are lots of surprises in drop shipping, so try not to get caught off guard when these things happen.

Here are a couple of the problems you might face and some ways to remedy them.

Returns and Chargebacks

For one reason or another, you’ll likely get customers returning items.

In some cases, you may get chargebacks on orders.

These are both specific problems, so I’ll tackle them one at a time.

Returns

First of all, you’ll want to have a return policy in place.

Chargebacks

A chargeback happens when a customer calls a bank/credit card company and disputes a charge.

If you get a chargeback from a sale you made, you might be confused.

That’s because chargebacks only happen for a handful of reasons.

Shipping Issues

Speaking of shipping costs, there can be many complications with shipping.

Most drop shippers have trouble with rates.

Depending on which carrier you choose, you’ll have any number of rate options to choose from, and it can be daunting.

Here are three shipping rates you’ll commonly encounter:

Real-time rates

‘Real-time’ just means that a custom shipping quote is generated for each order.

The weight of the products and the destination factor to give you the final quote.

This is highly accurate, but it can be challenging to implement.

Per type rates

Per type, shipping uses flat fees for different sizes of products. For example, all products under five pounds might ship for $5.

Flat rate shipping

Flat rate shipping is one of the most popular shipping options because it’s super easy.

You charge one flat rate for all shipments.

Flat rate shipping means you’ll lose money on some orders but make it back on others.

While it’s not a very accurate method, it is direct and straightforward.

Managing Inventory

Keeping track of the products you have available to you is a must.

Out-of-stock items can lower your conversion and retention rates, as it’s highly inconvenient for a customer to be told their item isn’t currently available.

Here are a few tips for mitigating the number of out-of-stock products in your store.

Ask your supplier(s) about item availability.

Don’t be afraid to use generic products.

Use a robust inventory solution.

Building a Team

When you start out, you can efficiently run your business all by yourself.

As you grow, you might get overwhelmed with tons of daily orders, support tickets, and other administrative duties.

That’s when you should think about getting more people on board.

However, who should you hire and when? Typically, Dropshipping merchants can benefit the most from hiring specific roles.

Virtual assistants.

Customer support representatives.

SEO, marketers, copywriters, and designers.

Using Multiple Suppliers

While I requested starting out with just one supplier, most medium-sized Dropshipping merchants use more than one.

If you’re selling a tonne of products, having multiple suppliers at your disposal can make your job a lot easier.

There are several benefits to working with more than one supplier.

Order fulfilment is more straightforward, You can pick and choose, It gives you a safety net

Moreover, once you’ve found a supplier, it’s a snap to find others.

Use Effective, Low-Cost Marketing Methods

Has your product line solidified its worth?

If so, you’re on the right path and are ready to take the next step — marketing.

However, don’t make this any harder than it needs to be — as previously mentioned with your store, keep things light, effective and low-cost.

Managing Customer Support

For a small business to be incredibly successful, it has to have an excellent customer support solution.

I’ve seen many drop shippers use nothing more than a business Gmail account an Excel spreadsheet to manage customer support.

This ‘solution’ is the equivalent of fixing up your car with duct tape.

Sure, it works for a while, but it’s not going to last forever.

Using dedicated support software from day one is ideal.

Help desk software can scale alongside your business, and it’s easy to use.

There are many options for you to choose, here are a few of my favourites: Zendesk, Help Scout, Desk.

Chapter Nine

Monitoring Competition

What does Monitoring Competitive mean?

Monitoring Competitive is a marketing and strategy management process wherein all avenues of the business landscape are observed and evaluated.

Monitoring competitors provide much more insight than mere industry awareness.

Instead, checking out your competition can help you develop a robust marketing strategy while drastically improving content curation.

Though previously associated with imitation, watching another’s business and commercialisation efforts can help you uncover compelling information about your target audience, reveal lessons learned and highlight essential industry trends.

How to monitor your competitors?

To be a successful business you have a keen eye on what your competitors are doing drop shipping sites on Shopify.

That surely doesn’t mean you should do anything unethical with the information.

After you’ve established who your competitors are, you can begin to monitor and analyse.

There some ways in which you can monitor your competition on Shopify which is also provided by competitive monitoring agencies.

Price Monitoring

You should always keep track of your competitors’ products prices.

Mainly because you must exit on the market with the lower price to gain the customers but is not the only reason.

You could also use the competitor price monitoring to understand your competitor’s pricing strategy or market positioning better and predict their business life because nobody can sell underpriced products for too long.

Social Media Monitoring

Every business tends to have social media handles.

Giving them a follow and subscribing all their social media handles will give in a great insight.

Social media serves a considerable part in the running of the business.

Social media sites like Facebook, Twitter, Instagram or LinkedIn act as a bridge between business and both the customers and potential customers.

Shopify-Dropshipping-Guide-Social-Media

SEO Monitoring

Every business is now caught on to the significance of a good SEO strategy by now.

SEO is competitive by its nature.

To be number one, you need to knock your competitor down.

To get ahead of your competitors, you need to look out for the keywords they’re targeting and backlinks they are generating.

Advertisement Monitoring

Another important aspect of monitoring is to monitor advertisements.

You should track both social, and media advertisements of competitors and other all other forms of ad on the internet of either goods, services or any promotions as that can be a threat to your business since it may take away your customers.

Sign up for the newsletter of your competitor

Many companies make it easy for just about anyone to sign up and receive newsletters via email.

Most websites link up to a sign up on their social media pages or their website.

A great way to receive your competitor’s non-newsletter through emails (such as their lifecycle series, signup or other transactional emails, or purchase confirmations) is to either make a small purchase or to sign up for a free trial so that you are considered a new customer.

Be aware, though; some smart companies might “blacklist” competitor work email addresses.

Giving your competitors a call

Almost every business has a customer support service.

Giving them a call will further help you in monitoring your competition and will provide an insight into the company.

Through this, you can find out the pricing policy of your customers and how well they can convince their interested customers into buying their goods and services.

Moreover, the best part of this kind of monitoring is that you can get any kind of information on the phone.

It may be time-consuming but is cost-effective.

Importance of Competitive Monitoring for Businesses

  • better prepare for any unwelcome surprises
  • helps to avoid or at least minimise potential losses
  • forecast your competitors moves
  • discover untapped market avenues
  • assess any new threats

In Conclusion, To start monitoring your competition, you don’t need to spend much money or invest much time.

Just adopting a new software platform and setting up alerts for news and posts from your competitors could be all it takes to make a difference in your campaign, and provide thought-provoking new directions for your campaigns.

What did you think of the guide?

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