When it comes to ecommerce, business is booming worldwide, with sales exceeding over $4.5 trillion and expected to grow well into the foreseeable future. According to a study conducted by Statista, by 2021 more than 2.14 billion people around the world will be purchasing goods and services online.
While this is great news for those who work in ecommerce or are planning to enter the scene, many ecommerce and dropshipping entrepreneurs find themselves facing struggles with the ultimate goal of turning a significant and sustainable profit.
Business may be booming, but selling products and services online can be a competitive field. This is true for the form of ecommerce known as dropshipping, where online merchants can run an online store without the need for inventory.
The business model of dropshipping is the perfect ideal for those who want to build a profitable business with little investment. In theory, when you build a business in dropshipping, you will have access to a seemingly infinite number of consumer products that you can sell online. The internet is, after all, the largest shopping mall out there.
And while you can approach dropshipping in this way, as an opportunity to sell anything from dental floss to car vacuum cleaners, you will probably run into issues on quality and overall poor customer experience, not to mention major competition from general online shopping giants like Amazon and eBay. This is why we encourage our dropshipping entrepreneurs to pick a niche to narrow down your products and your target market.
But what about running a one product only dropshipping store?
Building an online store that sells only one product is not a novel idea, but it can be a striking one when faced with the endless options on shopping sites like AliExpress, where many dropshippers source their products. While it is a path less explored by dropshippers, the idea is beginning to capture more minds.
An example of a one product only approach is to build a brand on smart light bulbs. Smart lights are wifi connectable devices that have an expansive variety of settings and colors, can be sound-activated, and more. In this example, you can focus on building a brand around the device, developing a site and marketing campaign dedicated to listing the specs and benefits of your product.
It may sound over simple, but sometimes focusing your marketing efforts and energy on developing a brand around one product may mean doing the right thing for your dropshipping business.
In this article, we will be exploring the option of dropshipping only one product and the potential for success with this less often taken approach. If you’re interested in what owning a one product dropshipping business may entail, then let’s keep on reading to find out what’s in store for dropshipping entrepreneurs that want to build a one product only online store:
1. You Only Need One Good Idea
It only takes one good idea to make a killing in dropshipping and other business models in general. While most online sellers are out there selling a multitude of products in a single store, having more than one product isn’t necessarily a requirement to making it big.
Some will argue that selling one single product may give you a better advantage—an edge because you can focus on truly developing your one good idea and giving it the proper thought and attention that it needs to fully blossom.
So, if you remain unsure of the single product you want to sell online, start browsing AliExpress for products you think will do well, scour the internet for emerging product trends, and start brainstorming up some ideas for your one product store.
The product you ultimately select needs to be awesome, whether it is an indestructible, army-grade iPhone case or solar-powered battery pack, it has to be something people will want to buy and use.
2. You Will Have To Purchase The Product
When you dropship only one product, quality is key. Once you get an idea of exactly what product you wish to sell and have scoured sites like AliExpress for a high rating product and supplier, you must purchase the product to test its quality.
This is not traditional dropshipping as it is advertised. Dropshipping is lauded for the fact that those who enter it need not invest in inventory. But remember that one of the major criticisms of the dropshipping model is that quality is often compromised by merchants who are selling a variety of items, making it less practical for the casual dropshipper to actually conduct testing.
When you dropship one product, the practical thing to do is to buy the product to conduct test buys and to get a feel of the product yourself. You need to know the ins and outs of your product, maintain quality control, and ensure that your customers are getting their money’s worth with your awesome product.
Remember that when your customers are happy, they’re more likely to give you great reviews for your merchandise and services—reviews and testimonials that you can use to validate the awesomeness of your product, which will eventually help you sell more units and make a bigger profit.
3. Take Your Own Photos & Videos
Not only will you have to buy a sample or two of your product, but you will also have to acquire photographs and take videos of the product yourself. While many are content to just stick to the provided images on AliExpress, these images are not typically considered the best or may not be the best for your store.
You’ll be needing banner images for your site, product page photos, photos for ads, and more. Since you will be ordering samples of the item you wish to sell, it’s only practical to have them photographed yourself, according to what you believe will feel and look best on your website and ads.
When you run a one product shop, you can build a collection of images and videos that will help you create content for your website and your marketing campaign that is centered around your brand, making your products seem more legitimate and worthy of consumer trust.
4. Complete Your Online Store Quicker With Clear Focus
With only one product to take care of, you won’t be spending your days and even weeks writing product descriptions, editing product images, and selecting price points for a multitude of products.
You’ll be able to complete your shop more quickly because you only have one item that you will ideally know the ins and outs of by the time you’re building your store. Running your site and dealing with customers should also be easier because you’ll be able to provide informative purchase counseling and support to your target audience.
You’ll essentially be an expert in your item, you’ll know all its uses and benefits, which will aid you in publishing blog articles, social media content, and other valuable insight into your product to spike people’s interest.
5. Create a Great Marketing Campaign
When you focus on selling only one product on the market, you’ll be able to concentrate your efforts on creating a more efficient marketing campaign. You won't be distracted by other products, allowing you to experiment with different platforms and ads to find what works best for your store.
With all this room to experiment on just one product, you’ll be on the road to finding the right path to maximize your reach and profits. Now it’s up to you to be creative in reaching the hearts and imagination of your target audience with an irresistible campaign around your product. Make sure to outline your brand’s persona according to your target market so that your product can reach your consumers at an emotional level.
Note: Focus on Doing One Thing Well
Just remember that when you focus on selling only one product online, you need to focus on doing it well. Without the noise of handling multiple products, you’ll be able to zero in on everything that makes your chosen product great and unique. You’ll also be able to focus on providing top-notch customer service and experience with greater attention to your customers' needs, ensuring product quality, zeroing in on a marketing strategy that will get your awesome product the attention that it deserves.
Get In Touch
What are your thoughts on the concept of building a one product only online store? At Ecommerce Pro, we love to discuss the future plans of online business ventures and to share practical solutions to help you meet your ecommerce and dropshipping business goals. If you have a project in mind, please feel free to start a conversation with Ecommerce Pro today!