I’m Catherine and I am passionate about Ecommerce. I lost my job in 2017 after having worked for a Technology company. I tried looking for a job but in vain. Since then I had to be innovative and that is how Ecommerce became my passion. I have sold numerous things online ranging from shoes to jewelry but all this time I was learning the art of Digital marketing.
Budget Breakdown (approx)
We can connect you with the project owner if you would like to fund this project directly
Problem Statement
Over the years, loads of things have changed especially the way businesses are conducted. The advent of the computer and later the internet gave a whole new definition of how things are supposed to be done in our world. Ecommerce is one of the fruits of the internet which has enabled entrepreneurs to launch multimillion dollar international businesses; business that cut across geographical boundaries. According to Venture beat Amazon reported profits of $72.4billion dollars last year. Trends continue showing that the Ecommerce business will continue to soar with predictions of up to $4.2trillion.Dropshipping is part of an ecommerce business that is indeed a very large industry that can boast of creating business opportunities for loads of entrepreneurs all across the globe and generating multiple billion dollars annually.
RiddleIvan – Riddleivan.com
Our Vision: To be a global online trusted brand with diverse products
Our Mission:
Riddle Ivan® is a drop shipping company, a general store with a wide range of durable goods and non – durable goods at affordable prices. It is comprised of winning products in different categories such as pet accessories, baby accessories, fitness, beauty accessories and home appliances that solve problems and compete favorably with leading online stores on a global stage.
Despite the fact that there are several online stores, the
market is still pretty much open for more online stores to come into the
market. The fact that two different online stores operate from same street does
not in any way affect their sales. The market available to them is the global
village, especially if they are open to customers from different part of the
world.
At RiddleIvan® Drop – Shipping Company, we have a small team
of people that are qualified, hardworking, creative, customer centric already
work with us to provide a great customer experience.
Project Details
Our target market
When it comes to selling products listed in our online store, there is indeed a wide range of available customers. In essence, our target market can’t be restricted to just a group of people, but all those who shop online from all across the globe. Our target market is global but specifically targeting Europe and US markets as these have the highest purchasing power when it comes to online shopping.
Suppliers
We have arrangements with suppliers with warehouses in Europe and the US thus enabling us to provide 2-5 day shipping time to our customers. Tracking numbers are provided once the customer makes an order. Thus they can follow up and track their order any time within this period.
Our Competitive Advantage
Though Riddle Ivan is a general store, our products solve problems and make life easier. Our portfolio of products is ever increasing. We are not limited to just what we have on our online store. We constantly source for evolving products via Aliexpress and find suppliers who can ship the items in 2-5 days.
For example;
The Pelvic floor trainer has been our bestseller.
It is suitable for women during postpartum and is ideal for kegels, bladder control and better sex as it strengthens pelvic floor muscles.
Such products with a wow factor are what RiddleIvan is made of. Our central focus is to create high converting videos that show potential customers how a product works and do Video ads using Facebook or Instagram influencer marketing to attract customers to our store.
Sales and Marketing Strategy
We do rely on Social media ads to get quality traffic to our store. The sales that we have made so far have been through Facebook conversion ads. We are still yet to tap into Instagram influencer, Google ads, Reddit and Bing ads as another source of traffic to our store. However due to a constrained budget, we haven’t been able to do so. We focus on creative good visuals Videos and Pictures with good ad creatives that will evoke emotion and curiosity making people visit our store.
One thing is certain when it comes to drop – shipping / online stores business, if you have quality products from top manufacturing brands that solve problems, a good ad creative that people on social media respond to among other factors, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.
We are well positioned to take on the listed markets and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.
Below are the platforms we have used and intend to expand on to promote and advertise RiddleIvan®.It is a pure Digital marketing strategy.
- Place conversion adverts on Facebook and use Instagram influencers. We will do video ads for most of our products as those have proven to convert the best.
- Google, Bing, YouTube and Reddit ads.
- Email marketing using Klaviyo-best known app for email marketing.
- Reward customers with discounts for referrals and testimonials.
Our Pricing Strategy
Pricing is one of the key factors that gives leverage to drop – shipping companies / online retail stores, it is normal for consumers to go to places (retail outlets) where they can goods at cheaper price which is why big players in the online retail industry like Alibaba and Amazon will attract loads of consumers.
We know we don’t have the capacity to compete with Alibaba, Amazon but our pricing strategy is for low ticket items priced between $10 to $35 which we expect will be fast moving items.
- Payment Options
The payment policy adopted by RiddleIvan® Drop – Shipping Company is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the global financial rules and regulation. Here are the payment options that Golden Bird® Drop – Shipping Company will make available to her clients;
- Payment via paypal
- Payment via credit card
- Payment via stripe
We believe these options provide options for customers. We will be adding Bitcoin payments in a few weeks.
- Strength:
◊ We have a well-coordinated and user friendly online store that caters for every niche. The items are averagely priced which makes them affordable and fast moving. We have also included upsells and discounts for customers who buy more than one item.
◊ Winning products that solve problems.
◊ 2-5 day shipping time for customers in the United States and Europe. Fast sipping which means happy customers which means good reviews and in turn repeat customers.
◊ Secured payment platform using PayPal and stripe.
Weakness:
We rely on social media adverts to get traffic and in turn paying customers. Social media advertisement whether it’s Facebook, Google, Instagram, Reddit needs capital which we are currently short of.
- Opportunities:
The opportunities available to drop – shipping companies / online retail stores are unlimited; as a matter of fact, customers can make purchase from any part of the world. We have partnered and continue to partner with suppliers who have warehouses in targeted countries so as to enable us cut cost of shipping and maximize the opportunity that are available to us.
- Threat:
Just like any other business, one of the major threats that we are likely going to face as a drop – shipping company is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Other threats that may likely confront us is unfavorable government policies and the arrival of competitions within our market space who may want to adopt same business strategies.
The key to making sales on RiddleIvan is consistent advertising which is where we are stuck due to lack of capital.The capital we get from MavenCORE will enable us to advertise and also buy inventory in order for the clients to get their items within the 2-5 day shipping time. RiddleIvan can contribute its profits to MavenCORE.
Thank you for believing in us!
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