Dropshipping Business Case Study: How to Make $300 in Sales by Day 5
Empire builders, are you ready to launch a brand-new dropshipping funnel? We can help you create your own profitable dropshipping store today. We have launched brand-new stores that went from $0 to $100 on their first day. Then, the store reached $300 a day in sales within their first five days. Want to see the results for yourself? Check out these case study findings and watch my video below to set yourself up to make $300 a day with your brand new dropshipping business!
Your Business in a Box
At Ecommerce Empire Builders, we have a program called Business in a Box. In this program, we build you your very own dropshipping store. We create your business from start to finish. However, if you’re looking to create your dropshipping store from scratch, I’m about to drop some serious knowledge bombs for you.
Check out the steps we follow at Ecommerce Empire Builders to create profitable dropshipping stores in record time.
Step 1: Figure Out Your Niche
The first step is to figure out your dropshipping niche. You have to have a niche that you — or shoppers — care about. Remember, you don’t have to be personally passionate about this particular niche, but it helps if a large chunk of the population is. People spend money on their passions. With people spending more time at home these days, they are pouring more money into their passions.
If you’re not sure where to start, hop on over to Wikipedia. Search the word hobby on Wikipedia, and the site will provide a list of hundreds of hobbies that people are into. This is the market research you need to do upfront before you start your Ecommerce store.
At Ecommerce Empire Builders, we do a ridiculous amount of market research before even thinking about creating a new dropshipping funnel or store. Make sure to do thorough market research on the physical products you want to sell in your niche. Also, keep in mind that your business will be more enjoyable in the long run if you choose a niche that you find personal enjoyment from as well.
If you want to dive into product research, follow our guide (and learn about seven profitable market areas) here.
Step 2: Figure Out Your Offers
The next step is to figure out your offers. This is the most important piece of the pie when it comes to creating your new dropshipping store. A common mistake among new dropshippers is that they hurry to build their new funnel or website — without doing market research and figuring out how to set up prime offers.
Building your website is not essential right away; you must research and create a marketing strategy before anything else. What you need to understand about offers when getting started with dropshipping is that there are multiple types of offers inside a business that you must utilize to make your store profitable from day one.
Front-end offers are what your dropshipping business is centered around.
The front-end offers are the products you are running ads on, whether they are Facebook ads or YouTube ads. This is where you run the “50% off” ads or “buy two, get one free” type of ads. You want your ads to be enticing to your potential customers. These ads are the first interaction you have with customers, so you have to get your marketing strategy right.
You must over-deliver to your customer and create an experience for them that has them returning to your store again and again. At Ecommerce Empire Builders, our strategy for profitable front-end offers is to pair a physical product with a couple of digital or information products.
Outperform Your Competition
Why do we do this?
The simple answer is that it sets us apart from our competition. You never want to compete on price. When you do this, it’s just a race to the bottom. What you want to do is compete on customer experience. This is where digital or information products come into play.
Digital and information products are where you can beat your competition every time. Take this as an example:
You are selling fishing lures. This is your product. To set yourself apart from your competitors who are also selling fishing lures, you pair this product with a quick start guide on using fishing lures, as well as a guide on how to use different fishing lures depending on the weather.
This is the winning formula that sets you apart in a space that already has so much noise. Your first sale is always the hardest. But you build momentum by creating a unique front-end offer keeps customers coming back for more. Most dropshippers end up failing because they only focus on selling a single product — the physical product.
Step 3: Utilize Order Bumps
Once you create a winning front-end offer, you need to utilize order bumps on your dropshipping store. Using order bumps is an easy way to increase the average amount of money a customer spends with you.
Simple order bumps are offers like expedited shipping, limited edition products, product warranty, or gift cards. You never need to overcomplicate the process. If you’re selling toothbrushes, then a simple order bump would be to offer customers the chance to pair it with toothpaste.
Simple strategies like order bumps set your business apart from the competitors.
Step 4: Create Two Upsell Options
After creating order bump options, the next step is to create two upsell options.
This simply means that you either present the customers with offers of more of the same product or an offer to a premium product. You want to keep offering customers a better and better deal. You want to create an enticing offer that a customer simply cannot pass up.
Step 5: Implement Subscription Services
The final step in creating your dropshipping business is to implement a subscription service. Creating an enticing subscription service for customers generates monthly income for yourself.
This is the hardest sell, but by over-delivering to customers early, you gain their loyalty. Customers that have a pleasant experience with your dropshipping site will be more likely to buy a monthly subscription to receive more of your products.
Consult With the Pros
Does starting your dropshipping business sound like a winning idea? At Ecommerce Empire Builders, we can build, launch, and scale your very own profitable Ecommerce business today.
Check out our website today to sign up for access to an exclusive free webinar on creating your own profitable Ecommerce funnel. You can also check out our YouTube channel for free resources as you work to create your own profitable dropshipping business.
Originally published at https://blog.ecommerceempirebuilders.com on June 3, 2020.