jul3s
Power Member
- Jan 28, 2010
- 763
- 1,628
Note: For those that are following, this is Day 30 of my 30 Day Challenge posted in Journey Discussions part of the forum.
I see a lot of new threads and questions regarding how to start and succeed with dropshipping, especially on how to find a perfect product, etc. These are thought times. It's not as easy as it was a few years ago.
Success depends on a lot of factors, from your audience, ads, offer, copy, targeting, to your website, product copy, images/video, content, FAQ, shipping, customer support, product quality, etc.
Today I want to talk about differences regarding the PRODUCT vs. MARKET approach.
The majority start with the PRODUCT approach first. Now, this is not totally wrong, but there is a better way to improve your success rate.
90% end up picking popular products that are already selling on other stores and trying their luck with a general store that looks exactly the same as 1000 other. Spending A TON of time to make their site look pretty (you know who you are!
).
Build it, and they will come! (Will they?!)
If you do this, you have to know how to market that product better than your competitors. What is your advantage? Better ads? Do you know how to find a better-performing audience? What is your added value? Do you have enough budget to overbid their advertising? Big enough AOV that you can afford to overbid the majority? Do you have post-purchase emails/retargeting in place?
Those that can afford the most to acquire a new customer WINS!
The MARKET approach will make your life much easier, and your success rate way higher instead of the product approach first. Meaning, instead of looking for the ’perfect’ product, find your perfect audience first.
Finding an audience
Pick a niche you want to be in, join groups, check niche related magazines, websites, big FB pages, shops/brands, influencers/authors.
What is the buzz around those sites? What are they passionate about? What kind of products do you see often? What are they emotionally attached to? What kind of posts are they reacting to?
Gather as many insights about an audience as you can. You will get an idea on who the audience is, how old, what they like, etc.
Niche related magazines are a gold mine regarding all the info you need about audience and popular products.
Visit their website and look for a media kit or send them an email to get one. In media kits, they have all the info about their audience - who are they, what they are interested in, age, gender, income, etc. Pick up three media kits and gather the info about the audience. Now you can easily target the same pool of people on Facebook.
Example of media kit of Inc. magazine available on their website.
Finding products
A great approach to find products is to go through niche related magazines. If someone is paying to be in a magazine, do you think that product is selling?
Second, gather shops and check what kind of ads are they running. You can check this with Facebook ad library → https://www.facebook.com/ads/library/
What are they spending money on? How are they talking to their audience?
Now that you have ideas from magazines and shops you can find something similar + make a bundle with a related product to be 100% unique (and make more money!). This way, you will be way ahead of anyone else starting.
Traffic sources
NEVER EVER rely on one traffic source. Due to targeting options and flexibility, Facebook is the easiest to start with. Once you start seeing some results, take what you've learned, and test different traffic sources.
I probably don't have to mention Google Shopping ads, which is a must. The best performing ATM for eCommerce is Pinterest and Twitter, and Snapchat for remarketing.
Need an idea of what traffic sources to look for? Use SimilarWeb (https://www.similarweb.com/) to check your competitors' social traffic. Where is the majority coming from?
I hope this helps!
===
That's it for today!
===
I see a lot of new threads and questions regarding how to start and succeed with dropshipping, especially on how to find a perfect product, etc. These are thought times. It's not as easy as it was a few years ago.
Success depends on a lot of factors, from your audience, ads, offer, copy, targeting, to your website, product copy, images/video, content, FAQ, shipping, customer support, product quality, etc.
Today I want to talk about differences regarding the PRODUCT vs. MARKET approach.
The majority start with the PRODUCT approach first. Now, this is not totally wrong, but there is a better way to improve your success rate.
90% end up picking popular products that are already selling on other stores and trying their luck with a general store that looks exactly the same as 1000 other. Spending A TON of time to make their site look pretty (you know who you are!
).Build it, and they will come! (Will they?!)
If you do this, you have to know how to market that product better than your competitors. What is your advantage? Better ads? Do you know how to find a better-performing audience? What is your added value? Do you have enough budget to overbid their advertising? Big enough AOV that you can afford to overbid the majority? Do you have post-purchase emails/retargeting in place?
Those that can afford the most to acquire a new customer WINS!
The MARKET approach will make your life much easier, and your success rate way higher instead of the product approach first. Meaning, instead of looking for the ’perfect’ product, find your perfect audience first.
Finding an audience
Pick a niche you want to be in, join groups, check niche related magazines, websites, big FB pages, shops/brands, influencers/authors.
What is the buzz around those sites? What are they passionate about? What kind of products do you see often? What are they emotionally attached to? What kind of posts are they reacting to?
Gather as many insights about an audience as you can. You will get an idea on who the audience is, how old, what they like, etc.
Niche related magazines are a gold mine regarding all the info you need about audience and popular products.
Visit their website and look for a media kit or send them an email to get one. In media kits, they have all the info about their audience - who are they, what they are interested in, age, gender, income, etc. Pick up three media kits and gather the info about the audience. Now you can easily target the same pool of people on Facebook.
Example of media kit of Inc. magazine available on their website.
Finding products
A great approach to find products is to go through niche related magazines. If someone is paying to be in a magazine, do you think that product is selling?
Second, gather shops and check what kind of ads are they running. You can check this with Facebook ad library → https://www.facebook.com/ads/library/
What are they spending money on? How are they talking to their audience?
Now that you have ideas from magazines and shops you can find something similar + make a bundle with a related product to be 100% unique (and make more money!). This way, you will be way ahead of anyone else starting.
Traffic sources
NEVER EVER rely on one traffic source. Due to targeting options and flexibility, Facebook is the easiest to start with. Once you start seeing some results, take what you've learned, and test different traffic sources.
I probably don't have to mention Google Shopping ads, which is a must. The best performing ATM for eCommerce is Pinterest and Twitter, and Snapchat for remarketing.
Need an idea of what traffic sources to look for? Use SimilarWeb (https://www.similarweb.com/) to check your competitors' social traffic. Where is the majority coming from?
I hope this helps!
===
That's it for today!
===
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