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How to start dropshipping on Shopify?

The Global e-commerce market recorded sales of $3.5 Billion in 2019, and the dropshipping sales amounted to $132 Million in the same year. The dropship market is likely to reach $558 Million by 2025, since it is growing at a whopping rate of 28.8% every year.

Any entrepreneur who wants to start a product selling business, be it physical or online, he has to keep a lot of inventory in place to fulfill the orders and carry on the supply chain.

But if one cannot manage manufacturing, supply chains, and fulfillment, then dropshipping is the way out.

In this guide you will get a comprehensive understanding as to how to start dropshipping on Shopify?

how to start dropshipping with shopify

What is Dropshipping?

Dropshipping is a business model in which you can set up an ecommerce store without having to keep any inventory of the products you sell. The products are sourced from a manufacturer, generally through an e-commerce platform. When your store sells an item, the order is sent to your supplier, who then ships it directly to the buyer.

A dropshipper buys a product only when he receives an order from a buyer. So you do not need to make any investment in any inventory.

You can sell any product in any quantity in any part of the world with dropshipping. It makes no difference whether you run the store from country A, the manufacturer supplies from country B, and the buyer is ordering from country C.

It is very easy to learn dropshipping business. To run a dropship store successfully, you only need a laptop, a good internet connection and an understanding of the working of the model. That’s it!

You can spend your valuable time and resources on growing your online store, and making more sales, rather than doing all the operational activities.

how to start dropshipping with shopify and aliexpress

Why Should I Start Dropshipping?

Dropshipping business model provides a very good opportunity for entrepreneurs to start an ecommerce business with the comfort of their home, without the hassles of inventory, operations, market credit, rent, huge investment, staff, wastage and huge risk.

Since dropshipping works with very little up-front investment, any aspiring entrepreneur can take a chance to try this model as a business.

Why Shopify dropshipping?

There are a lot of ecommerce platforms in the market, but Shopify is the most popular ecommerce platform in current times. Shopify has more than 5 lakh websites currently on its portal and it’s still growing at a tremendous pace. This platform has hundreds of innate features, apps for every purpose, all kinds of themes, payment integrations, all kinds of connectivities and everything that could be required to run a successful ecommerce business.

Since Shopify is trusted by lakhs of entrepreneurs, its name signifies credibility and certainty.

Shopify is the most simple and easy platform you can use to create and run your store.

You don’t need any sort of technical knowledge to run a Shopify store. Shopify has made dropshippers’ life so easy and convenient that they literally get a store ready with all the features embedded in it without any hassle.

Some of the reasons to use Shopify are:

  • All types of features – Shopify offers a host of features and solutions that let you create an ecommerce business. In addition to its online store builder, which enables you to design and set up your website, Shopify also has features to handle your sales, marketing, and payments.
  • User-friendly – Shopify has a great user-friendly interface and it gives its visitors a very good experience with its simple-to-navigate websites. It does not confuse users even after having all types of features a website could have. It provides a complete guide on how to use the software effectively with all its benefits.
Learn dropshipping business

How to start dropshipping with Shopify?

Lets understand the answer to the most awaited question, “How to start dropshipping with shopify”.

The process of starting a Shopify store is as follows:

1. Find a niche

A niche store works way better than a general store. So the very first step is to find a niche for your store. A niche should be monetizable and should have enough number of unique products to be promoted.

2. Create a Shopify Account

Now create a shopify account with a username and password. It asks for your store’s name when signing up, which may not be necessarily your domain name. Please note that Shopify provides an inbuilt hosting for your website.

3. Purchase a domain

Next you need to buy a domain name related to your niche. You could either buy from Shopify or other domain name websites like Godaddy, Namecheap, Hostinger etc. If you purchase a domain name from a website other than Shopify then you will have to connect it to Shopify.

4. Optimize Shopify settings

Shopify console has various settings which are basic to every store. These need to be set for smooth functionality of the store. Few of these settings are:

  • Mailing address
  • Payment provider
  • Billing information
  • Shipping settings
  • Navigation
  • Preferences
  • Store logo
  • Required Shopify apps

5. Designing of store

It’s time to design the store to make it look good. For this select a theme from the options available and customize it according to your requirements.

6. Create pages

There are several types of pages which are necessary for an ecommerce store. These are essential to provide all the information about the store and also for legal purposes. They are listed as follows:

  • About page
  • Contact page
  • Shipping & Returns
  • FAQ
  • Privacy policy
  • Disclaimer
  • Terms and conditions

7. Add products

Now find out some unique and interesting products from source websites like Aliexpress with thorough research. The products should be so unique that any user who takes a look at them should get mesmerized.

8. Product page

All the product pages should contain the following:

  • A well-decided price
  • Product images
  • Product description
  • Product variants
  • Scarcity caption
  • Shipping details
  • Add To Cart button
  • Product offer
  • Product guarantee
  • Reviews
  • Frequently Bought Together products

9. Select a paid plan

Firstly, check all the SEO elements of the website. You need to select a Shopify plan from the different options it provides in order to launch the store for making it live.

10. Launch you Shopify store

Finally you can launch your store by removing the password required to see the store.

11. Promotion

Any new store needs a good promotion to make it successful. You may promote it through different ways such as Facebook ads, Instagram ads, Google ads, Linkedin ads, Twitter ads, etc. The point is to attract maximum relevant visitors to the store website.

Finally you will start making sales in your store.

Also read – HOW CHATBOT WORKS?

how to open dropshipping store

Also read – WHAT IS SALES FUNNEL IN DIGITAL MARKETING?

Conclusion

Dropshipping is a massive opportunity for any entrepreneur who would like to develop an ecommerce store with very minimal investment and no inventory.

It’s very easy to start and requires no technical skill. It’s just a few steps process that any person from any background can perform easily.

Also read – PROGRAMMATIC ADVERTISING -MEANING AND PROCESS

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Blogs

How chatbot works?

How do chatbots work – Introduction

In today’s modern-day world, with the increasing requirements for automation, a chatbot is the latest entrant, which has diverse applications and uses in customer interaction.

In this article we will learn what is a chatbot, why do we need chatbots, and how chatbot works.

Before we answer how chatbot works, lets first understand what is chatbot?

how chatbot works

What is chatbot?

A chatbot is an artificial intelligence computer program that communicates with human users through text chat or voice command, usually integrated into websites and web applications.

The word ‘chatbot’ is made up of two words ‘chat’ and ‘bot’. Chat means communication, bot means robot. So chatbot simply means a robot that communicates.

There are a lot of simple and common day-to-day communication tasks in businesses that they face regularly. These are so basic that they can be easily handled by a chatbot, therefore saving man-hours time spent on customer support for the business. Also it allows a business to provide customer support 24*7, i.e. even in non-working hours. They act as digital assistants who instantly reply and process requests from users at any given point of time.

In the modern times, it has become very easy to install chatbot into websites and web applications with just a drag-and-drop without the need of any coding knowledge.

Chatbot is the most advanced interactive AI technology which reduces human dependency to a large scale.

What is chatbot

Why do we need chatbots?

The importance of chatbots is increasing day-by-day. This is due to the following factors:

  1. Productivity

Chatbots provide the assistance of access to information quickly, efficiently and in an organized manner. The speed provided by chatbots is tremendous. It boosts productivity to a great extent as it saves a lot of time of the business in customer dealing.

  1. Multi-tasking

Chatbots perform multiple tasks at the same time. They can process, any number of requests, answer questions, take feedbacks, advise users, analyse data of thousands of users simultaneously.

  1. No time boundation

Since it is an automated program, it does not have any boundation of working time. It operates 24*7 and does not stop working anytime. The customer support executives get much more time to concentrate on other important tasks, thus saving a lot of their time. Furthermore, the ability of chatbots to provide fast answers prevents customers from waiting for responses.

  1. Cost effective

Chatbots save a lot of man-hours of customer support employees, thus saving a lot of salaries which the businesses would otherwise have to pay. Since they are a one-time investment, it costs much less than the traditional way of customer support.

  1. Improved customer experience

These days, users are very impatient and they want every answer and solution immediately. Chatbots are a great solution to this. The customers feel much more satisfied when they get instant answers to their queries.

  1. Personalised communication

Chatbot remembers each user’s particular queries, requirements, interests, behavior and feedbacks. It monitors and analyses each user’s data and takes personalized actions, provides solutions and answers differently to each user as a human would do.

  1. Improves customer engagement

The customers who engage in business’s social media or websites are more likely to become and retain as customers with chatbots in place. This is because chatbots will keep them engaging anytime that they want.

  1. Increase in response rate

A very high percentage of queries remain unanswered. A chatbot’s response rate is 100%, i.e. it answers all the queries, problems and instructions. This ultimately boosts number of customers for the business.

  1. Automate leads qualification & sales

A chatbot recognizes whether a lead is qualified or unqualified. It informs us if the lead qualifies on all the parameters for a sale. This saves our time which could have been wasted on unqualified leads.

How do chatbots work

How chatbot works?

  1. Pattern Matching

In this method, chatbots classify the text and produce a suitable response for the customers in the form of a computer language called “Artificial Intelligence Markup Language” (AIML). It stores the common questions and sentences and matches them whenever they are repeated. Then the machine gives an output for the same in the form of an answer, action or instruction.

Chatbot knows the answer only if a query or sentence has a particular pattern. Similarly, chatbots respond to anything relating to the associated patterns.

Bots match patterns to group the text from the data it collects, and responds accordingly to the clients. It makes a standard structured model of these patterns called Artificial Intelligence Markup Language (AIML).

To take it to the advanced level, there are two more methods:

  • Algorithms

For better responses to users an algorithm of past data is analysed and compared sentence by sentence and word by word with the help of unique patterns. Then the bot picks up that response which co-relates the most with the user query according to its analysis.

  • Artificial Neural Networks

All parts of the input sentence are divided into neurons and transmitted to neural networks. Then the neurons travel through different layers in the network and are processed according to their weightage. Finally it generates an output.

There are further different types of pattern matchers, algorithms and neural networks. They may differ in the level of complexity but the core work of classification remains the same.

  1. Natural Language Understanding (NLU)

Through NLU a chatbot can understand human language with the help of text or voice recognition. It converts text into structured data for a machine to understand.

It has three specific concepts:

  • Entities: Entity represents any concept in a Chatbot. For eg. A payment system
  • Intent: Intent means the action taken by a chatbot in response to a query by a user.
  • Context: The knowledge to chatbot of a user’s intent’s context could greatly help in identifying the appropriate response.
  1. Natural Language Processing (NLP)

It’s a very commonly asked question ‘How NLP works in chatbot?’. Natural Language Processing (NLP) chatbot takes some combination of steps to convert the customer’s text or speech into structured data that is used to select the related answer. Using the right natural language processing NLP engine is one of the most important aspects of implementing a chatbot. Any business that wants its chatbot to understand human voice requires a speech recognition engine.

Read – HOW TO START DROPSHIPPING ON SHOPIFY?

How do ai chatbots work

Read – PROGRAMMATIC ADVERTISING -MEANING AND PROCESS

Conclusion

It is high time we realize the need, importance, and the enormous benefits of chatbots in the wake of the ever-increasing quest for automation in businesses.

So chatbots have become inevitable for large businesses to operate smoothly.

Chatbots are the future of communication automation.

Read – WHAT IS SALES FUNNEL IN DIGITAL MARKETING?

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Blogs

What is sales funnel in digital marketing?

We all are aware of a funnel; anything that is put as an input narrows down through its whole length and gradually to gives us the desired output is a funnel.

Sales funnel is one of the core and most important concepts of digital marketing.

A brief on what is sales funnel in digital marketing

Before understanding what is sales funnel in digital marketing, first lets quickly decipher what is a sales funnel.

Sales funnel, also known as revenue funnel refers to the multi-step process that potential customers go through, from the first contact with a business until they complete a purchase and become loyal customers. It is the journey a customer goes through from being completely unknown of the business to being its promoter. The length of the funnel depends on every individual business’s particular funnel strategy.

What is sales funnel in digital marketing

What is a sales funnel model?

Sales funnel works on the AIDA model which consists of the following phases:

  1. Awareness phase – This is the phase where a business catches the consumer’s attention. It could be through various channels such as ads, social media posts, or Google searches. Consumers are now aware that the business exists.
  2. Interest phase – The lead shows interest in the business by conducting product research, comparisons and thinking over various options. The business tries to develop the interest of consumers to further take them forward towards a decision.
  3. Decision phase – This is the phase where the consumer is ready to make a purchase. This is the best time for the business to make a luring offer – like a discount code, free shipping, or any other offer – that is so irresistible the consumer cannot help but purchase it.
  4. Action phase – This is the final phase, where the consumer has finally decided to make a purchase and become a part of the business’s ecosystem. However, the digital marketing funnel doesn’t end here. Customer retention should be on the priority of every marketer’s agenda. Customers should be made to feel valued by inviting them to give feedback and honoring their problems or issues, if any. This approach is highly effective in building brand awareness and reinforces customer loyalty.

This phase is followed by advocacy in which the customer not only becomes loyal to us but he/she also promotes the business by referring to other potential customers in his social vicinity such as his family, friends and other knowns. In this process, the business becomes a brand with time.

What is a marketing funnel

Why is a sales funnel so important in digital marketing?

  • Landing upon a marketing strategy

Marketing sales funnel gives you a strategy of how you could enter the market and present your business to the masses. You could portray your business to the customers in the online market and provide value strategically.

  • Acquiring customers

Acquiring customers is the most daunting task for any business, especially newbies. Sales funnel targets the right potential customers with detailed targeting and acquire them at a very attractive cost.

  • Developing a list of future prospective customers

Once a prospect enters your funnel, it sends you all his details, his journey stage, and his interests. In this way you could develop a list of these prospects and pitch them any time in the future. Also you can upsell and cross-sell them in the future. This makes a huge Lifetime customer value (LTCV).

  • Boost in sales

With the right targeting, remarketing and list of interested customers, there is a drastic boost in sales by sales funnel.

  • Brand development

It helps in developing a business into a brand. This is very crucial for any business’s long term success.

How to build a sales funnel for free
Sales Funnel – Buying and Selling – E-Commerce – Advertising

How to build a sales funnel for free?

Digital marketers are required to try to capture as many leads as possible, and then nurture prospective clients through a purchasing decision journey, while narrowing down these prospects in each stage of the funnel.

You shall offer your clients in the same way as you would do to your best friend.

Following are a few tools which play an important role in all this process:

• Blogs with good content

• Social media

• Online reviews

• Search engine optimization (SEO)

• Display ads

• Paid ads

• Remarketing

The strategy of prospecting varies client to client depending upon the stage the client is standing on in the buying cycle.

Here are the tactics effective at each of the five stages of the buying cycle of the sales funnel:

  1. Lead

In the lead stage, keep in mind that something triggered your prospects to begin thinking about a need. They’re mildly interested at this point, and they’re spending a small amount of time browsing it over the internet, gaining bits of information about it.

Here the most important requirement is that you should be able to attract your ideal client. This is the very first step to being successful. For instance, on Instagram, businesses post pictures of their products. If you don’t have a following, your traffic will be lower, your exposure will be lower and you will attract only a few people and therefore only a few people will know, like and trust you. The solution is to create awareness about your business among people through online campaigns.

In this stage, since the audience is cold, you could attract them through a lead magnet such as an e-book, video series, audio series, e-mail course, free training, free consultation, free audit or any other free offer which would attract them to your ecosystem and eventually collect their contact information.

  1. Prospect

This is the time for the business to build trust, recognition and branding. This is the time to use relevant content to push your audience further into the funnel. It aims at creating content around the topics that differentiate your offering from your competitors.

You will further keep on contacting them through different online channels and continuously try to understand your prospects’ needs.

  1. Qualify Prospect

At this stage, you verify whether or not the prospects have a need for your product, whether they are interested to make a purchase, they see value in your offer and they have sufficient budget for a purchase. This process can be lengthy and complex.

This stage involves a lot of nurturing. Nurturing is being in touch with them, providing them content regularly and being present at every possible digital place in the market. The point is to gain their trust by creating authority for your business in the marketplace. They should get habitual of your valuable content or quality products so that they get assured that they would get enough value by becoming your paid clients.

Now you should reinforce the benefits of the services you offer by promoting your content. Use paid ads and free platforms, to announce events, opportunities and tours, and obtain newsletter subscribers. Address any objections and barriers. Keep your content relevant.

In this stage a tripwire could be offered. Tripwire is a no-brainer offer that is priced irresistibly low for the sole purpose of converting prospects to clients.

  1. Commit

Now the prospects have built trust in your business and your content. They have started engaging with your business, have been habitual of your content, consider your content valuable and are ready to spend on any offer that you make.

In this stage the core product is offered to the prospects with an explanation of the product with complete details.

  1. Transact

Finally a few prospects purchase your product and become loyal clients. It is your responsibility to fulfill all the promises done with the clients. Value their feedback, improve accordingly and keep giving value for long-lasting relationships.

As soon as you succeed in closing a sale with a client, it is time to upsell and cross-sell. Upselling means offering a comparable higher-end product compared to the product the client purchased. Cross-selling means offering products complementary or related to the purchased product.

Those prospects who do not purchase your product you can down-sell to them. Downsell means to offer a lower-priced product than that of the previous offer.

In this way, you have created a relationship with your clients. The development of a relationship removes the price barrier.

Your clients will promote your business to their knowns due to complete satisfaction from your work.

Now it is time to collect testimonials and use them as proofs of your good service. This shall convert into a sales multiplier for your business as you could easily attract more clients into your funnel with them.

Here, it is crucial to understand that the non-buyers are equally important for the business as the buyers as there is always a very high chance that you can sell to them in the future. In this way, you could build a list of prospective clients that can be used for future promotions.

Read – HOW TO START DROPSHIPPING ON SHOPIFY?

digital marketing funnel

Read – PROGRAMMATIC ADVERTISING -MEANING AND PROCESS

Conclusion

After reading this article, it should be pretty clear to you as to what is a marketing funnel. This system pretty much works like Google maps: This is where you are, this is where you want to go and you learn the route that you need to take to skip all the traffic, avoid all competitors and get there the fastest.

Read – HOW CHATBOT WORKS?

Categories
Blogs

Programmatic advertising -meaning and process

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In today’s era of highly diverse, advanced, informed and competitive markets, it is a very daunting task for any marketer to reach their target audience at an affordable cost. A little mistake in targeting could bring the marketing to a standstill, due to non-conversion.

It has become very significant for every marketer to understand programmatic advertising meaning to pursue advanced marketing as per the modern requirements.

According to a recent estimate by Publicis Groupe’s media agency Zenith, programmatic advertising spend was worth $106 billion in 2019. The projections suggest that programmatic ad spend will reach $127 billion in 2020 and go further to $147 billion by 2021.

Programmatic ads spend is also increasing as a ratio of total digital media spending. Programmatic ad spend will increase from 65% of all digital media spending globally in 2019 to 69% in 2020, and eventually will reach 72% in 2021.

This proves the fact that programmatic advertising is massively growing and has become very powerful. The latest programmatic technology is taking the digital world to a completely new level.

This article will give you a complete and comprehensive overview of what is programmatic, programmatic advertising meaning, its process and importance.

Programmatic advertising meaning

Programmatic advertising meaning

Programmatic advertising or programmatic marketing means automated buying, selling and optimization of online advertisements in real-time with the purpose of showing a specific ad to a specific set of prospective customers.

The digital campaigns are purchased automatically instead of buying directly from publishers, i.e. using machine learning and artificial intelligence in place of human negotiations.

This process involves bidding on advertisements through real-time auctions which enhances efficiency, effectiveness and transparency to both publishers and the advertisers.

Programmatic platforms develop their databases in such a way that all types of formats and channels can be accessed programmatically.

These platforms segment audiences on the basis of different demographics like location, interest, behavior, age, gender, status, culture, etc. using data analysis so that advertisers pay only for ads delivered to the right people at the right time.

What is programmatic display advertising?

Programmatic display advertising is a set of technologies that allow advertisers to place online display advertisements in front of potential customers while they are browsing publisher sites that carry the advertising.

Programmatic ads

Why programmatic marketing?

Programmatic ads are so significant today that no marketer can survive in such a competitive market without it.

Here are a few reasons to go for programmatic:

  1. Efficiency

It creates efficiencies by using machine learning to optimize campaigns and avoid ineffective inventory. It ensures a larger reach in real-time without much effort. It is much more reliable than traditional ways of online advertising.

  1. Enhanced Targeting

Programmatic ads provide a platform that targets ads across many different channels and devices in real-time. It collects data from the market, classifies it and prepares a database for detailed and enhanced targeting. It has an audience ready for every need of the market which benefits both the advertiser and audience.

  1. Easy access to ad databases

Advertisers can advertise on the basis of ready-to-use databases of segmented audiences prepared by programmatic platforms in advance according to their specific requirements. Advertisers are not required to find or segment audiences.

  1. Consolidated campaigns

The campaigns for all programmatic advertising channels are consolidated in a single system across devices and formats allowing advertisers to handle all types of advertisements on one platform.

  1. Enhanced productivity

Since programmatic campaigns manage all aspects of the ads, the advertiser gets spare time to look after the more important aspects of his business, like operations, administration, etc.

  1. Reduced costs

Advertisers only pay for the number of impressions they receive. So they don’t have to pay anything if there are no impressions, i.e. when no person in the audience sees the ad. Generally they are charged per thousand impressions.

  1. Bright future

As the amount of money spent on programmatic ads is increasing exponentially year after year, it is very clear that it has a very bright future.

Programmatic marketing

How programmatic advertising works?

Many advertisers are confused as to how to do programmatic advertising? To comprehend the process of programmatic advertising, let’s first understand its participants and ad technologies:

  • Advertiser

An advertiser is a person or business that pays for the advertisements of its products, services, events, brands, etc. on any channel. It bids to buy ad inventory on websites.

  • Website publisher

A website publisher is the individual or organization which produces or sponsors websites. It sells ad space (inventory) on its websites.

  • Advertising exchange

An ad exchange is a platform that mediates between publishers and advertisers. Exchange connects the parties to one another and assesses the price and the quality of the ad impressions.

  • Data management platform (DMP)

DMP is a software platform used to collect and manage data. It provides data to businesses to identify segments of audiences, which can be used to target specific users thus improving targeting.

  • Demand-side platform (DSP)

DSP is an ad tech software platform for advertisers to purchase and manage ad inventories from multiple ad sources through a single interface.

  • Supply-side platform (SSP)

SSP is an ad tech software for digital publishers to sell, manage, and optimize online advertising space on different channels.

  • Consent management platform (CMP)

CMP is an ad tech software that provides publishers with a tool to obtain and manage users’ consent while collecting, handling, sharing, buying or selling users’ data online. The purpose is to pass all consent-related data to the respective ad partners.

What is programmatic advertising

The process of programmatic advertising is as follows:

1.   Message sent on user’s entry

The process of programmatic advertising automatically starts in a millisecond as soon as a user arrives on a website associated with programmatic advertisements. Then the website publisher automatically sends all the details of its ad space to a supply-side platform, i.e. SSP.

2.   User analysis

Now the SSP algorithms evaluate user analytics, on the basis of user demographics such as behavior, interests, engagement level, social engagement, location, time per visit. This data analysis plans and determines which ad content would be relevant to a particular user.

3.   Evaluation and bidding

In this step, the corresponding demand-side platform or DSP comes into action. The DSP evaluates the worth of that user’s impression and accordingly gives it a value. The DSP then prepares and submits a bid to the SSP.

4.   Selection of winning bid

Now all the bids participate in a bids auction in which the SSP reviews and selects the highest bid as the winning bid.

5.   Delivery of ad

Finally, the ad is delivered to the user.

It’s worth noting that the whole of the above programmatic ad buying process happens within milliseconds, so the user gets to see the webpage he is visiting with the ad displayed as soon as he enters the website.

Read – HOW TO START DROPSHIPPING ON SHOPIFY?

What is programmatic display advertising

Read – HOW CHATBOT WORKS?

Conclusion

A question arises in many advertisers’ minds, ‘Is programmatic advertising worth it?’

Considering its all the benefits like multiple efficiencies, affordable costs, bright future the answer is definitely yes. An advertiser should go for programmatic for the overall growth of a business.

Read – WHAT IS SALES FUNNEL IN DIGITAL MARKETING?

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