In the previous article on how to start the Shopify Dropshipping Business Step-By-Step process, we have covered the two steps. As you are done with finding your niche and suppliers, let's move on with the third step competitor analysis.
Competitor Analysis
Once you have decided what to sell, you now have to gather knowledge on who your competitors are, what they sell, and how they sell their products. There are many ways to do this.
Enter the name of one of the products you are going to sell into Google and do quick research and list who shows up on top. The top ten results on Google or any other search engine will present you a good indication of your competition in a certain location. If you are selling products in a location different from where you are based you can use third-party tools like SEMRush or any other tool to get information about search results in various locations across the world.
You can do the research to find niche competitors of yours using any third-party tools. You can get a summary of the website you are searching or social media profiles any advertising your competitors are doing, audience and traffic information for their website, and a list of competitors for that business.
Hunt around on social media. You can browse Facebook ads within a niche and social media pages for top brands. How many followers do they have? How do they market their brand? How much engagement does their brand get? What can you do differently to stand out against them? Keep an eye on the best thing they are doing with their store that you can adopt.
Know your competitors' content and what performs better for them through the use of third-party tools. You can get insight into what content gets the most social shares so you can find inspiration for new blog ideas. Know their strength by Signing up to a competitor’s newsletters that can keep you on top of their content if they share their blog content this way.
Building a Dropshipping Business Store
There are a few segments to building a dropshipping eCommerce business the right way. Here are a few:
Domain Name – Your domain name values, especially if building a long-term brand. You can use a free business name generator to encourage you to simplify the process. Always get a .com domain, no matter what. If you need your niche as a keyword in the new domain make sure it’s obvious like beauty, jewelry, fashion rather than very explicit so you don’t have to change your domain name down the road. Also, do not use your name as the domain for your shop. If you ever sell your business, you could lawfully use the benefits to your own name.
Sign up for Shopify – Shopify is the most extensive eCommerce platform on the market for dropshipping. With new features, tools, resources, and apps being added regularly, you’ll find that it’s easy to manage and run a business on the platform. Plus, if you find yourself in a problem, you can reach out to a Shopify support who will personally walk you through any steps for free. You can even hire a Shopify store development company, who can build the store for you and even provide after-sell services. we will continue this article on the step-by-step process of Shopify Dropshipping Business in the upcoming article.
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