Shopify is an eCommerce platform that allows users to set up an online store and begin selling products through the brand's subscription-based software.
The platform provides the tools that will enable its users to build an online store with many built-in features from scratch. In doing so, they can then benefit from selling products from their website to their audience.
Shopify can be used by those seeking to make additional income alongside their usual employment, or those who intend to make it their full-time job. A great thing about this platform is that it is easy to use, therefore making the process of selling online much less daunting.
If you are considering setting up a Shopify store, you of course want it to be profitable. Below, we have identified some effective ideas and strategies that you can use to make money online.
Develop A Business Idea
To begin, it helps to have an idea in mind of the type of business that you intend to set up. This may be selling your own products or marketing a service that you provide.
Gaining an understanding of the strategies and niches that typically do well on this platform will enhance your chances of success. Many will use Shopify to sell physical products because the platform allows you to create an online store that reflects your brand.
Also, identify your target market and the audience that you are expecting to attract. Your strategy should identify reasons as to why your customers should shop via your online store or utilize your service.
Set up a dropshipping store
Dropshipping provides a convenient way of selling products online without the hassle. It is a cost-effective option that dismisses the need for warehouse space to store the stock and also reduces the amount of money that is lost from unsold inventory.
Simply put, if you have a dropshipping store, though you will be retailing the products, you will not be physically responsible for them. Instead, you will market the product on your website but source it from a third-party supplier.
When the customer makes a purchase, this supplier will complete the process by shipping the item out to the customer.
This platform is particularly useful for those who are new to online retailing and are still in the process of establishing a market for their products. Instead of holding and storing these products in large quantities, it is purchased from the supplier when it is needed.
Overall, it helps to make the process less stressful for you, as the third-party supplier is responsible for getting the item to the customer. It is important to choose the right suppliers as this will influence the success of your business.
Become a Shopify Affiliate
An easy but effective way of making money on this platform is by becoming a Shopify affiliate. As an affiliate member, you will earn money each time a customer signs up using your unique referral link.
You can begin on the free plan, although there is the opportunity to upgrade to the paid plan if you feel that it is necessary for your affiliate offerings.
Your success via this avenue is going to be determined by the volume of sellers that are encouraged to sign up using your link. It helps to have an expanse following as you are likely to earn more income.
Start a clothing store
As we have mentioned, developing a business plan and identifying the type of products that you would like to sell or the service that you would like to provide is essential.
Though your business needs to be of interest to you, it also needs to be successful to increase the amount of money that you are likely to make. For this reason, you should consider setting up a store that focuses on a popular niche.
As clothing is worn by customers daily, it is a popular niche that will allow you to begin selling your products right away and also allows you to explore with your creativity.
For those that do intend to establish a business within the clothing niche, an awareness of current trends and changes on the market is crucial in ensuring that you keep up to date with what the customer wants.
Due to the demand for clothing, you are more than likely to witness your business thrive in this niche.
Sell digital products/services
There is an endless and varied amount of products and services that can be sold via Shopify. While many users may feel more at ease selling physical goods, others may wish to venture into the sales of digital products.
You can sell your own digital products or someone else’s and as you will not be storing any physical products, your costs will be reduced. This is also an extremely profitable business.
There are many digital products that you can sell on the platform from e-books, films, and digital downloads to online courses, apps, and digital tools. Upon purchasing a digital product customers will be emailed a link that will allow them to access their purchase straight away.
For many people, social media plays an important role in their daily life. For this reason, social media provides a great platform for promoting your online store. It also allows you to connect with and build a loyal customer base.
In doing so, you are likely to attract more traffic which will ultimately result in increased sales. Some Shopify plans will encourage you to use your social media to add links to posts that promote your products to encourage followers to make a purchase.
Platforms such as Instagram offer a great way of selling your goods via Shopify, resulting in increased sales and income.
There are many ways of making money on Shopify. While the above strategies are likely to be successful in increasing your income, there is an endless list of possibilities regarding the types of products and services that you can sell.
It is important to ensure that your website appeals to your customers. Clearly display your products so that your customers know what they are going to be buying.
Also, ensure that you provide your customers with an opportunity to contact you should they have any inquiries or questions. The success of your business is also going to depend on your efforts to develop an online presence.