If you are already running an online drop shipping business and looking to put your business on steroids or if you new online marketers who is eager to generate some income in the shortest amount of time possible, the concept of viral drop shipping is invented for you.This term viral drop shipping is derived from two well-known marketing/business concepts, drop shipping and viral marketing.
In drop shipping, retailers pass on the customer orders to wholesalers who then ship the product to customers on the behalf of retailers. The difference between the wholesale price and retailer price is a profit for retailers. On the other hand viral marketing is another theory that is very popular throughout the internet and has been for some time now. In this theory, marketing techniques use pre-existing social networks or other online media to product enhanced brand awareness to achieve ultimate marketing objectives.
Now let’s come to the term viral drop shipping. It is different as it provide you with one income stream, which is selling products. On the other hand viral drop shipping provides more than one income streams from same online business.
Now you would be wondering how it works. Being a retailer, as you get the orders from your customers, you get to know about their name, email and mailing addresses etc. What would you do with that information once the product would be shipped successfully to a customer? Would you discard it? You should build a mailing list of happy and repeated customers and send them newsletter about the hot products you would be selling. This way, you can get to know the response about different types of products which you feel you can have better profit margin and you should bring them to your store display.
You can also send them discount coupons to sell your products fast in a certain limited time. Most importantly, you can invite your customers to social networking sites such as a Facebook, Twitter or LinkedIn to get them involved into your business strategies to make your online store a better shopping place for them.
Once you will follow those steps, you would not improve your online store according to customer but you will be able to build customer loyalty for your store. You will have multiple streams of income coming from social networking sites, mailing lists and new customers. In this self replicating system, your existing customers will help you to get more customers via Word-of-mouth marketing too. Besides focusing on these points, you can become an affiliate partner of your wholesaler provider to invite other online businesses towards reliable wholesalers. This way, you will not be helping others but also be generating more income for yourself.
If you will follow these steps carefully, this new concept of doing drop shipping business will help you to improve your business structure and income.