I like drop shipping businesses but I feel sorry for some of your failures, you know how it is, you learn from mistakes and succeed after failures. There is more into fb ads than you think, try to not split it up in too many adsets and try to rush as fast as possible to a LAA,because that is...
Nice journey you have here!
If you need any help or have any questions related with facebooks ads (been running these for 2 years for ecomms) just hit me up with a PM ;)
Maybe because facebook has more than 1 billion visitors/month ?!
You need to take facebook ads expenses in consideration also.
Also people are willing to jump on offers with free shipping, so you can price your item at 20-30$ and offer free shipping. That way you make good profit and also...
"Do you think you are going to dictate the selling price for a product you are reselling ? No" - You are really wrong here. I know somebody who sells phone cases at 60$ dropshipped from ali (costs about 5-6$ there) and makes a killing (daily budget at 5k$ tho). So you dictate the selling price...
"If you e.g. have a Fast & Furious necklace and you target people interested in F&F," Here is your biggest mistake. Read the whole OP and you will see why, read it carefully. With 5$ you won't do shit anyway, atleast 50$ to have some data.
I call this bullshit. Mostly this part : "Paid Advertising is not a long term profitable Customer Acquisition Channel in E-Commerce". It may be for F+S but if you have a unique product or you know how to properly set up the ads , you can bank with facebook ads. Usual cost per purchase can go up...
Yes, if you are thight on $ , check all the metrics , cpc, ctr, cpm. Usually a 1$ cpc is a bad sign, if it goes over, you definitely need to kill off the ad. With 5$ a day you get to little data to make clear conclusions. You can do maybe 10x2.
Nope, PPE is bullshit, it is only to test if a product is good or nah for your target audience. Always do WC ads if you want sales. (For some niches video PPE can work out good, where the audience is huge).
Really good method and it does work. I just want to add some things to help you guys out regarding facebook ads.
1. Affinity targeting is key, try to keep audience at max 2m if going with auto bidding (manual bidding is another thing, not needed in the beginning, only for scaling).
2. Lookalikes...
On massplanner website (at the instagram tool) put a /# at the end of the url and u will be redirected to a page that includes most of the instagram modules for unlimited accounts.
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