Today we are joined by Mark Peterson, founder of Ecom Blueprint and a thriving e-commerce…
How A student Build $800k Dropshipping Business
You wondering how he made $800k Dropshipping Business? This is is the story of a 24-years old Allen from Hangzhou, China .
As a student trying his hands on a lot of money making options to cope through school, he had just decided to take the opportunity of dropshipping.
Who could have thought, that his simple experiments with Oberlo and Shopify would bring this massive turnaround in his life? According to Allen, his dropshipping store had grossed over $800,000 in sales alone.
However, understanding that most drop shippers and other e-commerce business owners would want to share in his business ideas; decided to give this advice to help build your business.
You ready to learn some tips on how you can also make $800k Dropshipping Business? Keep reading.
Is Dropshipping for you?
Though most people suggest that dropshipping is for the serious-minded person, with full focus on every part of their business.
But according to Allen, business generally for him is all about enjoying your passion and trying to see where it goes overtime.
Leo Gary is not his only online store, and before he even launched, he had tried so many other options that didn’t yield so much output as at that time.
So he finally tried dropshipping with Oberlo and Shopify, which worked wonders for him.
And one fantastic thing about dropshipping is that you do not need to own any product to make sales.
Just your store, your suppliers, and your target audience, and you are good to fly.
As highlighted by Allen, dropshipping is not a perfect e-commerce business, but it is an excellent way for beginners to approach the e-commerce industry.
Advice: In as much as you focus on doing your e-commerce business, try some few options with low cost as you learn in the process. Failing in one option is not the end of everything. You can also read Beast Of Ecom: Building a Million Dollar Dropshipping Business
Instead, it is an excellent way to learn and approach the market better.
So the main point is to keep trying on a lot of options; you never know the option that best serves your audience.
Choose a Product Niche in a Vast Category
After Allen launched his online, Leo Gary, he understood that making money was not that easy.
It was because an online store has a different working structure from a physical store; you would need to try some marketing before people can convert to sales.
According to him, Setting up and launching your store is more like a walk in the park, but the hard nut is selling the products itself.
As a men’s clothing dealer, he opted that the choice of going for an extreme niche targeting is not the best, as so many sellers now take that option.
On his side advised that instead, beginners should go for a vast category and use particular winning niche products to get customers through their ads campaigns.
From his view, dropshipping allows him to sell so many products and adjust to any niche at any given time. So if a niche product doesn’t drive traffic, he can easily switch to a different one.
So for potential and beginner dropshippers, his advice is to own a store with a lot of different products, but generate traffic with a niche product. It is so that it can be possible to switch to another if one doesn’t work.
Advice: Choose a more large playground; make your store open to a lot of products.
But doing advertisements, run your campaign with just a specific niche product; to attract a lot of customers. However, if one doesn’t convert, you can change to another one till you get your desired result.
Try using Facebook Ads?
There are so many ways to run ads and get a lot of leads to your products. But Facebook creates a broader and more flexible marketing platform than other options.
For Allen, using Oberlo gave him a global playing ground, but he joined in with Facebook, which also has a massive, comprehensive database.
Using Facebook’s massive database of users to convert to sales is very easy, but first, you have to know how to approach the market first. Allen advises’ using the Lookalike audience method, which works great for his store.
You can either use the Lookalike audience or try Facebook custom audiences. All Facebook, while you create a lookalike audience, is a base audience and then a choice of a similar audience to target as well.
Though this is not new to the e-commerce world, it converts.
Note: That the more the number of audience Facebook has to source for you, the more accurate it can create a similar list of people.
According to Allen, adding a little of retargeting campaigns to the lookalike audience method alone produced $600,000 sales.
Advice: Do not limit your campaigns to SEM, SEO, and Google Ads, Learn Facebook ads, and try it. It will help you reach a more vast option of users. In 2030, Facebook anticipates over 3 billion users on its platform, and you can leverage this option to convert to sales.
Final Tip on His $800k Dropshipping Business Store
Many persons say that the US market is the most efficient market for a dropshipping business.
But for Allen, it might not be the best option. Being that the more acknowledgments are given to an individual approach to marking, the less effective it becomes.
So for a newbie, it is vital to check on another less demanding market.
It might be tough to cope with the cost of advertising and managing the US market with a low budget and little drop shipping experience.
You can start your store today, just sign up for the 14 days free trial on Shopify.
This Post Has 0 Comments