To Sell products under $5 is an awful idea since that rate is relatively low…
Thus, in this article, I will show how I tried Shopify Dropshipping With No Money For 1 Week!
Therefore, you’ll figure out how I effectively execute what I call “The Revenue Share Strategy,” which will permit you to use influencer marketing with definitely no money upfront!
I created this article to furnish you with a bit by bit instructional manual on the best way to create a profitable Shopify dropshipping business from scratch as a novice in 2020 without money.
In my articles, I talk about how you can begin Shopify Dropshipping from the beginning with practically no money.
Initially, I had the thoughts to myself, and so instead of just talking about it, I want to put my mouth where my money is, and I guess that doesn’t create sense because I’m essentially not using any of my own money so, I think what I meant to say is that I’ll do this.
Rather than merely talking, I’ll walk the talk. If you didn’t read the article where I discussed how you could begin Shopify Dropshipping ground up with no money.
The strategy is straightforward; it’s what I call the revenue share agreement, which means you trade revenue with the influencer in return for them to promote your website or your product.
Although this strategy and methodology are fundamental and straightforward, it isn’t that easy to execute.
The hardest part is to find an influencer that will be down for this strategy.
Since a great deal of these influencers, these days need to get paid upfront. You’re going to need to contact a bunch to locate a few or a couple or even one that will be down.
I will give you step by step how I do this time to actualize this strategy effectively.
Thus, in terms of the complete summary on what’s going to go down for the strategy is number one you need to find a product, create the store, discover the influencers, contact the influencers at that point negotiate with them, hopefully, you’ll get a few or a couple or even one to promote and afterward hopefully get sales.
I could speak the entire day about how to actualize the strategy; however, I need to show you that we should go straight into it right away.
The first step to Shopify Dropshipping With no Money is picking a hot selling product.
I picked the LED Beauty Mirror for the product, and I chose this somewhat because it’s in the beauty niche, and there’s a considerable amount of influencers in that beauty specialty.
For the strategy, I typically pick the niches that have the most influencers because it’s going to be a numbers game for the strategy.
You’re presumably going to hear me said a great deal that it’s a numbers game implying that you need to contact a lot of influencers all together for a few to be down.
This isn’t something where you could contact just ten influencers, and afterward, most of them will be down.
This is where you need to get in contact with 100 influencers and five, ten or even less than that to be down so I was hoping you could keep that in your mind so you don’t anticipate that a lot of influencers should be down for the strategy since they are not. I need to make that very clear.
The more influencers that you contact, the more that possibly will be down; you need to find a niche that has a considerable amount of influencers.
Since I have the product, it’s time to create the Shopify store, and I recognize what some of you folks are thinking about reading this piece. How can you make a store?
How can you create this take off? What’s more, how can you do all these with no money when Shopify costs 29 bucks every month?
Shopify has a free trial, and the free and it’s currently 14 days so I’ll have 14 days to mint money with the store until I am charged, and the fast, quick and simple hack to do this is after I create the store I’ll pick a plan then enter my Credit card data yet I would not be charged until after the 14th day.
You should pick a plan, enter your Credit card or check card data and you won’t be charged until after the 14th day.
I strongly suggest this basic and simple hack to utilize this free trial for your total potential profit.
Shopify Dropshipping With no Money :
Finding the Influencers
Alright, with the website created now, it’s time to move on to the most important step by far, and that is to find and contact the influencers so right away we should go.
It’s an overly free and straightforward approach to discover Instagram influencers, as I referenced before in my past article.
You can utilize the suggestive feature; for instance, I had to find one Instagram page and then click the down button. This gave me a lot of suggested Instagram accounts related to that account.
You could continue to scroll over and to find influencers that are related to the page.
Now, for this strategy, especially prominent Instagram accounts with countless followers, hundreds of thousands to millions most likely won’t agree to the revenue share agreement since they’re accustomed to getting a colossal sum of money from brands upfront.
I suggest focusing on the smaller influencer accounts ranging from 30,000 followers to a few hundred thousand followers since they’re likely to be down for this strategy.
After finding the influencers, I organized them on a spreadsheet with a user name and their email, then I’ll write out the email to be sent out to them, and the first sequence would be the email that will be sent out to each influencer.
You can find the influencer by typing in your keywords in the search button. Then you follower influencers plus the suggested followers.
In the second sequence would be the email sent to influencers who do not reply after a certain amount of days.
I’d connect that spreadsheet to an email software to mass contact the influencers and automatically follow-up if they don’t respond.
Now, all of the emails have officially been sent out to all the influencers, so it’s been about a day since I contacted the influencers, and I just went through the replies and unsurprisingly a lot of the influences that declined the offer.
The reason is that a lot of them said that they do not make affiliate-only sales and that they only do it when they’re getting paid. The right amount of influencers had managers, so the managers responded and said that they only do paid collaborations.
And that is another thing I want to mention. If the influencer is using that manager more than likely 100% of the time, the manager will always decline this offer.
The influencers’ managers only get paid if they’re getting paid based on an off-like upfront fee for a promotion.
You appreciate it if it’s an affiliate or any partnership; it’s hard for them to get their piece of the pie and so they’re going almost always to decline that offer so, keep that in mind when dealing with influencer managers.
But for the most part, the influencers that do respond and if you could contact the influencers themselves, one-on-one, you have a higher chance than if you were talking to their manager.
But the good news I was able to get four influencers interested in the offer, and it’s only been about a day.
Influencers sometimes take a few days or even longer to respond, but I’m only going to focus on these four influencers for now because I’m trying to get this post done in the least amount of time possible.
The next step is super important. For those who read my articles, I talked about this strategy previously How To Start Shopify Dropshipping On A Budget (Zero Budget).
This strategy is a little bit different from that piece. In that article, I talked about the revenue share agreement, meaning a mutual agreement between you and the influencers, just like you’re getting the influencer to be your affiliate.
This strategy will be a little bit different for this write-up because there are multiple influencers involved, and that will be complex to do that strategy because it will be super hard to find out and track precisely what sales are coming from each influencer.
But that strategy that I went over in the previous write-up is useful if you have one influencer because you’ll just split the revenue with that one influencer.
That’s not complicated, but it’s pretty hard to track where everything is coming from if it’s multiple influencers.
This specific strategy will be more like an exclusive affiliate program for the influencers so, the influencers will get their affiliate link before they promote.
Then when they promote, I can see exactly how much sales in revenue they brought in and then pay them according to that.
If you don’t want to use the keyword search to find influencers, you can as well use shoutcart which is an amazing tool.
It will give you top influencers based on the niche and the number of followers you want and also verified their engagement.
What I needed to do was first, create an affiliate program for Shopify for free since I’m not using any money, and then I needed to respond to the influencers that said that they’re interested; get to them to sign up on the affiliate program, get them the affiliate links and then they’d promote, and hopefully, we would get some sales. Without further ado, let’s go straight into it.
There are tons of great apps on Shopify that you can implement in your store, but I had to find a perfect one for free, and the first one that I did find was Goaffpro, but I wouldn’t say I liked the design.
The next free affiliate that I did find was Secomapp, and it checked out a lot better, and it has tons of good reviews, and the best thing about it is that it’s a free plan offering all the features that I needed so, I used the free affiliate app.
And setting up the affiliate is extremely easy; to sum it all up, all you need to do is sign up then edit your affiliate percentage amount that you want to offer to your affiliates or, in this case, the influencers.
And by default, they have their affiliate percentage amount at 10%, literally all I did was change the name to the influence of affiliate program and change that affiliate percentage amount to 50%.
After the affiliate accounts are officially created, I’d then email the influencer, basically instructing them to sign up to get their affiliate link and then enter their PayPal email to get paid.
Lets tackle step number 3 of Shopify Dropshipping With no Money for one week.
In a little, over 24 hours since setting the affiliate programs to the four influencers and only 2 of them signed up and were ready to go. The other two were yet to respond, and that’s the thing I want you to know.
When dealing with influencers, it takes a bit of time. Because you’re communicating back and forth with the influencers, you have to wait to respond before moving on.
Some influencers take days or even weeks to respond, given their busy schedules, so keep that in mind when dealing with influencers.
I’m only going to concentrate on these two influencers since they’re the only ones who signed up and were rearing to go; they had their affiliate links.
I sent them images of the products I post on a store with their affiliate links,
I also had them know that they could include that affiliate links in their profile if they wanted to, but they didn’t have to, and then hopefully, with all that, we would get some sales.
I want to mention that I also had them know, and I was categorical that they could cease or end and quit marketing the product at whatever point they wished.
The objective was to have no terms or binding agreements for a specific amount of days or anything. They could begin marketing it today and afterward stop tomorrow, one week from now or one month from now it was absolutely up to them.
It’s vita; that you reassure Ensure the influencers because a great deal of them won’t agree to this strategy if it’s a term or in a contract that’s if it implies that they need to do this for a specific amount of days whatnot.
Make that crystal clear to the influencer and a lot of these influencers will continually promote on the off chance that they regularly make money; the same goes for anything like say a few of yourselves join an affiliate program and you consistently make money with it, you’re most likely going to continue promoting it.
However, on the off chance that you cease money with it or don’t bring in any money whatsoever with that, you’re likely not going promote no more and apply to these influencers.
I had allotted the influencers to promote at any rate for at least 24 hours this way, and I’d judge the performance dependent on 24 hours. I was overly upbeat to see what the outcomes would be.
Are you still reading this Shopify Dropshipping With no Money case study? carry on.
In well more than 24 hours, the two influencers on the morning of Day #4 had posted on their Story, and from those two posts on their Story, I was able to do a little over a thousand dollars in sales.
Nearly, I did a little over a thousand sales in under a day, and that is only the total revenue; thus, if we go over all the costs, we can get the absolute profit.
The total sales were $350, the full influencer or payouts was $120, the product and total cost was $50, which leaves an all-out profit of $180
Hacks to Improve overall revenue
For this example, the profit margin is only somewhat over 16%. I want to go over specific tips that you could utilize and increase your profits at whatever point you execute this strategy in the future.
Tip #1 Lower Cost of Goods: Lower the product or cost of goods. For this example, the product that I use for this store was around $15 to $70, including delivery cost on AliExpress.
That isn’t acceptable in any way, so when your product is costly, it isn’t easy to get profits since you need to value it around $30 to $50, and if it’s that much, it eats into your profits.
In a perfect world, you need a product that is lower than that and preferably lower than $10, that way you have a great deal of space to get more money-flow
Tip #2 Increase Selling Price: Increase your selling price, however much as expected. I did that for this example after I got ten orders, I expanded the product price by $10 from $39.99 to $49.99 which isn’t that large of a difference however on the off chance that you get a ton of orders, it adds fast, and it sums up to more profit in your bank account.
Tip #3 Decrease Influencer Revenue%: Decrease influencer revenue share by as much as possible.
For this example, the influencers’ revenue share was 50% which is relatively high, yet I know whether it stays at the 50% range, more influencers are persuaded to accept the offer yet in a perfect world if you could bring down the revenue share percentage to even 30%, that would save you lots of money and increase your net revenues drastically.
Pay To Influencers
The pay to influencers is straightforward like I said before. It is essentially similar to an affiliate program.
You should go to the affiliate like the one I created on my Shopify account and pay the influencers through PayPal.
Ordinarily, I’d tell the influencers that I’d pay them once every month since that gives me all the time to manage refunds or any issues with the orders. You sure don’t have to pay them each day.
Suppose you need to deal with a refund or any matter relating to the order that would come from your pocket, and you sure need to have enough time to manage any issues with the orders, and once a month gives me a lot of time for that.
Finally, to pay for the orders and fulfill the orders on AliExpress, all you have to do is wait for your Shopify payout to arrive at you.
Your first payout usually takes seven days anything after that takes every two days to get paid worst-case scenario so, hang tight for seven days for the first payout, and then use that money to pay for the order.
But ideally, I suggest that if you have a credit card, use that now so that your customers aren’t waiting more time for their orders but worst case scenario as I said if you have no money or don’t want to use any of your money then, wait for Shopify to pay you out and then use that money to pay for the orders.
Shopify Dropshipping With NO MONEY: Domain
The other thing that thing I would like to state is that if possible when you get your first few sales, go out and purchase your Domain name; you sure don’t want to have that http://your-store-name.myhopify.com domain name for eternity.
You’ll get away with it at first because the influencer is solely promoting themselves, but ideally, you want to have your domain name because it checks out more legit, and it looks a lot better than dot myshopify.com.
Shopify Dropshipping With NO MONEY: Conclusion
It’s a wrap folk, and I hope you got some immense value from this piece. I honestly feel like I went over a lot in detail step-by-step, so I hope you learned the strategies and have more ideas from reading this article.
This exercise was a success as I was able to rake-in almost $200 by using two influencers in under a day.
The best part about it, I didn’t use any of my money, and the crazy thing about it was just from two influencers, and in the last three days, over ten influencers responded and said they were interested.
I’m going to try to scale up this business.
Let me know if you liked Shopify Dropshipping With no Money post and want me to do a sequel part.
I recommend experimenting with this strategy if you don’t have a lot of capital to start dropshipping because it costs you nothing.
All right, that’s all we’ve got for now. If you have any questions or want to share your own experiences with dropshipping, drop them in the comments below, and I’ll be sure to get back to you.
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For those of you that are new to this platform, typically, before I sign out each article, I always urge that you learn often, market better, and sell more.
Shopify Dropshipping With no Money
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