When I sold my dropshipping store in 2017, I wrote an email to the buyer with advice on how to grow on the success I had built. Today, looking back at that email, I can see that there was actually no reply, and the store died shortly after I sold it.
Since I don't want to see this story and valuable advice go to waste, I thought I'd post a copy of that email to my blog. Enjoy!
Email: How I Made Stock Tennis Successful
Here's a bunch of information on how I made my store successful. Sorry if it's a bit rambly, that's just how I explain things. If you follow what I did, you'll be making money in no time.
Alright, here goes. Basically, the only way I made sales was through paid advertising. My strategy was to advertise a product that only a very specific audience would buy: a Rafael Nadal hat. He's a pretty big tennis player so I knew there would be enough customers. My Facebook ads targeted users that liked Nadal's page AND liked tennis in general. This way, the people that saw the ad were likely to buy and wear the hat. Here's a pic of what my audience on Facebook looked like:
I only spent $5 per day on advertising. You could easily spend $20 a day on ads, but I highly suggest you keep it at $5 until you have an ad that is making you money. Once your ad is earning more than $10 a day, you can up the budget and increase sales.
Finding a good product and creating a good ad for that product is extremely annoying. Luckily, I've done all the annoying work for you. Don't waste your time adding new products to the store that people won't buy. I wasted a lot of money advertising for a giant tennis ball; no one bought it. Here's what you need to do: Advertise for the Rafael Nadal Hat with a special "free + shipping" offer. I started off just selling the hats as "50%" with a final price of $9.95. Lots of people clicked to check the price, very few people bought it. When I changed the price to $0.00 but the shipping was $9.95, conversions greatly increased. It works. Start with this.
Here's the product you should be selling:
The supplier recently lowered the price of this hat to $6.19, so you're margins will actually be a bit better than mine.
$9.95 (Your price) - $6.19 (Supplier's price) = $3.76 in profit. With a budget of $5.00 per day. You will need to sell at least 2 hats every day to make a profit. I can almost guarantee you that when your ad is optimized (takes about 24 hours) you will sell more than 2 hats per day. If you want to increase your margins, you could raise the shipping price to $12.95 (like I did), but I highly suggest that you don't try this at the start.
Here's the image I created for the ad, you can use it as well if you'd like.
Facebook will lower the reach of ads that have too much text. This ad worked really well because it's very simple and encourages the viewers to click the link and see how much shipping is. Once they see that it's just $9.95 and they are already in checkout, they are likely to buy it. When I had the price set at $9.95 my conversion rate was above 10%, which is really high. See for yourself.
In the span of just 3 days, my store made over $200 in sales. This was using the exact same strategy that I described above (free + shipping). I sold 18 hats in the image above, which cost me $117.72 (it would have cost you $111.42). Since I was spending $5 per day on ads for those three days, I spent a total of $132.72. My profit was $76.38. If I kept that up, I would be making roughly $800 in profit each month - would have been even more if I spent more money on ads. I decided to use that money to experiment with other strategies, but nothing else worked for me. Practically a third of my store's total sales came from those 3 days.
So that's how I got my sales. There is DEFINITELY room for improvement in my strategy. After you get things going and are profiting, my advice would be to work on building organic traffic and increasing the profit margins. That's what I should have done.
Hopefully, this was helpful to you. Let me know if you have any questions.