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PART 2: Dropshipping Journey to a Consistent $10k per Month

Discussion in 'My Journey Discussions' started by PBNSurprise, Oct 2, 2019.

  1. AestheticHustler

    AestheticHustler Regular Member

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    What's your plan concerning payment methods? Do you accept PayPal and if so how do you avoid problems with them? :)
     
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  2. PBNSurprise

    PBNSurprise Jr. VIP Jr. VIP

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    i accept paypal. i've only had 1 chargeback so far

    UPDATE:

    i'm writing this as i sit in my bunk bed in my chicago hostel. things have been rough the past few days. spending 1.5-2k on ads and basically breaking even. my cost per purchases is still very high. i'm confused. 55% that initiate a checkout end up purchasing, almost half the people fall off, why? i'm guessing it's the shipping cost. therefore i switched back to free shipping.

    i think i'm starting to realize that i may not be able to scale a campaign past $600-700 daily spend for this product... anytime i go above that amount, the cost per result goes too high. it's like facebook is wastefully spending, trying to find conversions, that wasted money could have been saved since most of those clicks don't convert anyway. my cost per view content has also shot up, why?

    i am confused. i've been using the same type of creative for months now. i think maybe i should turn off my most popular creative. it has over 1 million views now. i think it's causing saturation. my other creatives are seeing less spend.

    it's frustrating, i don't know what to do. it sucks that i'm this far into my company and i still can't maintain it.... fuck man, i thought i had this figured out. i'm pissed
     
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  3. NYC47

    NYC47 Registered Member

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    great thread my dude ...working on a few brands now ....Mirco branding is the way to go !!!
     
  4. CarrieCaffrey

    CarrieCaffrey Newbie

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    I was read your journey. Have a good work. Good Luck.
     
  5. mrrevolution

    mrrevolution Newbie

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    Awesome post and journey dude! Grateful that you share some of your experiences with us.

    Just an idea, why you don't try to sell your business and start another? Stop losing your money.

    Cheers!
     
  6. AestheticHustler

    AestheticHustler Regular Member

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    Well, my question wasn't aiming towards the chargebacks - just in general dropshipping.
    Many dropshippers have experienced problems with PayPal (temporary holds, account blocks, further verifications and so on)
     
  7. spectrejoe

    spectrejoe Elite Member

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    @PBNSurprise dont be discouraged. If it was that easy everyone would be rich odnt you think? There will always be a bump or two in the road just gotta keep trying and you'll break through eventually
     
  8. Ohmnito

    Ohmnito Jr. VIP Jr. VIP

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    @PBNSurprise ok dude let me just give you a piece of advice here...I recently discovered your journey thread and...I frankly cannot believe that nobody said anything about what's been going on...
    I'm not gonna waste your time and I'm gonna give it to you straight: You made some rookie mistakes from the very beginning.

    First of all, your first and biggest rookie mistake: You got too attached to the product. From the very beginning, you did everything you could to make that product work, you spend wayyyy too much money testing different ads, different creatives, different audiences, different types of Facebook ads so that your product would be a winning product, and of course after spending that much money you finally got it to work, you did manage to get money out of it but when you thought that you finally found the winning product you started getting happy at your own success, you were spending several thousand on ads and getting 350$+ in profits and you were happy. Well, guess what? That was not really a winning product. A real winning product doesn't need to be under constant supervision, a winning product is good enough on its own, you just put it in front of the people and people buy it no question asked, of course, you should always optimize your ad campaign but not as aggressively as you did.

    Two, you thought you could scale it too much and make it a longterm business wayyy too soon when your product was barely making a few hundreds a day... In dropshipping with Chinese products it is actually pretty rare to find a product that you can scale indefinitely and create a real brand from, you either do it really soon when no one else is selling that product, or you modify that product so much, add so much value that other competitors can't really compete with you. Putting your little logo on it inside a fancy box is often not enough but could still work with some really specific products.

    Three, you spend too much money, too much time on 1 single product. I guess you followed Gabriel St Germain advice on creating a single product store...well although I agree with him that it is by far the best converting type of store (% wise) it is not a good solution for a beginner starting out. Gabriel is good, like really good, he is really successful and knows what he's doing. Do you know why? Because he has a shitton of experience in that field. He can do a single product store testing as much as he wants to because he has lots of money to burn and has a keen eye for finding good products that is coming from his huge experience. You shouldn't use his tactics as a beginner, only when you get much more experience in dropshipping and money that you could try to replicate his success.


    Ok so that said what can I advise you to do then?

    First, stop what you are doing. If none of your ads are making you money, turn them off and stop that store.

    Two, and that is the best advice I can give you : create a general store where you will test a shitload of products every single day. Dropshipping is a numbers game, it's pure math, the more products you test, the more you make, the more you make, the more products you can test and the more products you can test...the more you make. And the reasons why you want to do that is simple: it's fast, easy, and cheap. Finding products to test is awfully easy. My favorite technique is using commafeed.com which allows you to spy on your competitors for free. When you add a new RSS feed of one of your competitors, the minute they upload a new products on their store, you see it in your feed:
    [​IMG]

    And you just have to click on it to see the full product description, images, and link to the product page:
    [​IMG]

    You can then just copy and paste that description on your site, find the product on aliexpress and test it alongside your competitors. As I said, it won't always work, out of 15 products tested you will maybe find one that makes you money, but the more you test the more you make. And you don't have to worry about the stigma around general stores, yes conversions are lower than a single product store but most people don't really care that much, if they see a product that they like they will just buy it on your website. That's why having a good looking and trustworthy site is important, the facebook creative is very important too, especially the scroll stopper part otherwise people won't engage with your ad and if people don't engage, your CTR is gonna be low and Facebook is gonna make you pay more for your ad.

    Also, if you are on Shopify, maybe switch to Woocommerce. You don't have to of course but it will definitely save you a lot of money on the longterm and you could really make a fancy store for a fraction of Shopify's price with better performance, especially if you use a VPS but again that's optional, you could just use Shopify for every new store that you create especially if you don't have any technical background, then just stick with Shopify.

    Then when you see that you have several products in the same category that are working, maybe create a niche store where you will test them all together under a different brand. Your conversions will be higher and you can make more money out of the same products. This is why having a Woocommerce store is better (if you have good unlimited web hosting) you can just create and test a new store for the price of a new domain name, no need to pay the 29$ + Shopify fees etc...

    Anyway, that is my advice, it's up to you to follow it or not. I just wanted to give you a little "wake-up slap" since no one here seems to give a shit.

    Cheers.
     
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  9. leek01

    leek01 Registered Member

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    @Ohmnito

    Great advice. How do you find the rss feed url for shopify store?
     
  10. Ohmnito

    Ohmnito Jr. VIP Jr. VIP

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    You take the store url and you add /collections/all.atom
    For example, if your competition store url is https://supermegagreatgadgets.com
    you enter https://supermegagreatgadgets.com/collections/all.atom
    it doesn't work for all shops (some shops use some code tricks to keep people from spying) but works for most.
    Basically go to https://myip.ms/, in the IP owner/parent section search "Shopify", it will then give you a list with the most popular Shopify stores, search stores within your niche and do the commafeed trick to spy on them.
     
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  11. PBNSurprise

    PBNSurprise Jr. VIP Jr. VIP

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    Yeah my company is failing right now. I already have an LLC set up and paying taxes. Invested a lot into this

    All my audiences on Facebook are shit. I was making 1.5 ROAS somewhat consistently a month ago, which was about 20% profit margins. But now all my look a likes have turned to shit

    And my new creatives are failing as well. Barely converting, costs are going up, tons of people commenting shit under each post. Almost every new comment is something negative talking shit about the product

    So yeah, I’m basically in shit right now. If my whole company goes under it doesn’t matter much. I still have a day job. It does suck though. Idk why it’s so difficult. I was doing decent before, now everything just wants to be shit on me. My product is okay, my creative was great, so I was able to make decent profit for a bit. Now not so much

    I think I’m gonna still stick with the product to be honest. It sells and it’s something that people need. The problem is.... everything. My creatives, my audiences. Who knows, maybe in a month I may ditch the entire store and start over with a new product. Not afraid to do that. I’m gonna see if I can revive this though. I have an idea for some new creatives and will use broad interests to see if I can scale that way
     
  12. ferma231

    ferma231 Elite Member

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    Seems like you didnt read anything and it just still proves that you are way too attached to that product. Sometimes you know when to stop...
     
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  13. Ohmnito

    Ohmnito Jr. VIP Jr. VIP

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    Seems like you just read my mind.
     
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  14. PBNSurprise

    PBNSurprise Jr. VIP Jr. VIP

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    I’m gonna spend a month testing new creatives and audiences. I’m not afraid of destroying the entire company, store, and product and starting 100% brand new. I am totally fine doing that. I want to test new creatives though. I picked this product when I started cuz I knew it’s a winner. It solves a problem, it’s evergreen. It is in a certain niche, but still a unique product that solves a problem

    i have some fate here. My creatives and audiences have just all died out. I need better creatives and need better audiences so I can make LLAs from that

    This is a setback. But like I’ve said before and like I said countless times, I will never give up. Whether the store fails, whether the company fails, and everything fails, I will still keep testing and trying new things, no matter what. So I’m just simply continuing that
     
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  15. codenamefrog

    codenamefrog Newbie

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    I'm curious as to what brand building you've done outside of just throwing a bunch of money into ads. Social accounts, blog, anything?
     
  16. PBNSurprise

    PBNSurprise Jr. VIP Jr. VIP

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    I have social media accounts but I don’t post anything. I branded the product, basically put my product name on it and created a logo. Mainly all I’ve done is throw money at ads
     
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  17. CreateWealth

    CreateWealth Newbie

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    Thanks for the update. What is your day job?
     
  18. DE_GAME

    DE_GAME Power Member

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    Really Sorry Things aren't going too well for you, wish i was had much experience in the field would have definitely wanted to help out. Keep fighting this obstacle will be conquered, Op you did it before you can surely do it again.

    Always plan for the worst learnt this myself the hard way. Good luck once again awesome fan of the your journey threads.
     
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    Last edited: Oct 28, 2019
  19. PBNSurprise

    PBNSurprise Jr. VIP Jr. VIP

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    i am medical professional

    thank you for the support, i very much appreciate it!

    UPDATE: i don't think it's worth changing my product. the product itself sells, i've generated a lot of orders from it. it's just the WAY that i'm marketing it. i'm thinking that the creative has the most impact on whether the product sells. if the creative looks good and triggers desire from the audience, then people will go into the website wanting to already buy the product. when i first started advertising this product i was negative. the video ads i made just wouldn't work. the costs would be too high, and not many people purchased. then i made a different kind of video ad and that format was the one that propelled me to $100+ per day in profits. i tried to replicate this type of video ad by just making a few tweaks to it, didn't work. now the video ad isn't performing as well anymore.

    i don't believe my product is "saturated". there is really no big brand behind this product. it's unique and basically you would have to buy it from amazon, ebay, aliexpress, etc. i think in my next ads i will try to highlight the common concerns with the product and use my brand as an advantage. making statements such as "reinforced with very durable material" to give people a reason to buy from my brand instead of amazon... even though the product looks the same. basically, the goal is to use my brand's name to give the impression that this product is made differently from the other copies.

    i need to do more brainstorming. i have the product, i have the website. i took a look at some competitor websites. their sites aren't all that good. and they have done more branding than me. i really think that it's mainly about the psychological of the buying experience. if the creative is convincing enough, then people will open their wallets. it doesn't matter how good the product actually is. obviously a good product helps because it decreases the amount of customer inquiries. the product does have sell potential though, it solves a problem. i need to work on my marketing, so that when i put the ad in front of people, they just can't help but buy it. if i'm able to do that, then i can consistently get $5-10 cost per purchases which would be fantastic.

    so the first step: make a creative that is very compelling. something that gets people clicking and buying. once i have that, test it against some board interest audiences. if the results are fantastic, then i know i'm on the right track. after that, all i need to do is scale and start thinking about how i can replicate this winning creative.

    i can do this
     
  20. drops23

    drops23 Newbie

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    I wish you all the best. I have read all your posts, the other journey too.
    I am a beginner, but I think you should read more than one time the post of Ohmnito. You are too attached to the product. Why? Did you ask yourself? Is this a good product? You spend 1k in ads and you sell 1k, does this make sense? You need to pay taxes. Have you read any online marketing and e-commerce book?
    Do you want to make money or do you want to sell a single product that you love?
    Please take time and think.