If you are a marketer or entrepreneur looking to import products from China and sell them online, it is critical that you use the right strategies and tools. If you don’t, you could make irreversible mistakes that make it impossible to make a profit. This might seem overwhelming at first, but it doesn’t have to be. Using the guide below you can enjoy importing and exporting products for major profit on your own website, Amazon (including their FBA program), or other channels.
Market Research
Before diving into any old product or service, make sure there is a market for it. It is much more lucrative to choose a market segment that has already demonstrated that they want something than to create a product and convince people to buy it. There are numerous ways to do market research. If you want to get ahead of a new trend or craze so you can make maximum profit, consider using Google Trends. It lets you predict what’s going to be hot in the coming months so you can import and get the ball rolling in advance.
Idea Validation
Once you think you’ve found a good product to import from China, don’t just jump into it. Test the market first by putting up a basic website. Use mockup photography of the product and drive traffic to this test page with Facebook Ads or Google AdWords. If your conversion rates end up paying for the ads themselves then it’s possible you could be onto a great idea.
Finding a Supplier
You are ready to find a supplier once you have selected and validated a product. To choose great suppliers, you often don’t need to look farther than Alibaba.com. This is a website that lists a lot of Chinese suppliers for virtually any product you can think of. Reach out to suppliers through instant messaging and email.
The strategy here is to negotiate pricing by sending several factories your request for their best rate. Pit them against each other and choose the one who is most willing to lower their prices to your satisfaction.
Inventory Management
Once your inventory has been shipped, you need to decide if you are going to store it in a warehouse or your garage. If you choose the warehouse option, consider a third party who can house it for you. If you are going through Amazon’s FBA program, they will actually house the products for you and send it out. Of course, this does incur a fee so your profit will be affected. Keep this in mind when deciding the best option for you.
Follow Up Sequence
Don’t assume that you are done with your customer after you have sold them your product one time. Sometimes, they will come back for more or even refer their friends. To increase the likelihood of getting repeat sales, build a relationship with your customers via email. Follow up with them and offer them unique discounts and promotions. Don’t be afraid to get creative and show off your brand identity in your follow up emails either. The more authentic you are, the better chance you have of hooking them into your brand.
Testing
Always test. It doesn’t matter if you have a very profitable product or razor thin margins. You need to constantly improve and prepare to fend off competition.
When it comes to importing products from China, there is a lot to worry about at first. However, the key is to focus on what you can control. By selecting a market, testing it, and importing from the right suppliers, you can enjoy good margins and a successful business that lasts. Then, you can sit back and relax as you receive passive income.
