All right guys..
6 days ago I started a new dropshipping site.
$630.83 Facebook ads spent
$200 spend on products fulfillment
$449.85 revenue (13 sales)
= $380 loss
I think I found my winner product, which is the dashcam you see on the right. It’s currently the only product that sells.
Ad spent for each sale is $7-$25.
Product cost is $12.5
I sell it for $29.99.
So this means ad spend per purchase has to be below $17.5 in order to be profitable. I still need more data for Facebook to optimise.
This means that if I can keep the ad spent pr purchase at $15 or below, then I need 25 sales to cover the loss and go into profit. With the stats so far, it looks very possible, but let’s see.
The ad strategy I use:
- Target ‘View content’ in US. 5 different ad sets with different interests and get 200 ‘View content’ pixel fires. Interests was automobiles, trucks, auto safety, etc. I got my first sale here! Yay!
- Create lookalike audience for ‘Pageview’ – 1%, 1-2% and 2-3%.
- Create a new ad set for each three lookalike audiences and go for ATC conversion. This gave me around 4 sales.
- After around 30 ATC pixel fires I created three new lookalike audiences again, and a new ad set for each, this time going for Purchase conversions.
- Now I’m waiting 2-3 days to see which of these adsets performs best. Then I will slowly increase the budget. If you take the budget straight from $60 to $6000 then it will not work, simply because you have to be patient with the pixels optimisation.
Another product (LED flame) that had a promising performance as well, but made no sales so far. Therefore I’ll focus only on the winner product, and when I’m in profit, I’ll invest more into the other possible winner product.
Please note that even though I had $400+ in sales, I still haven’t set up anything like Dropified or Oberlo. Because what you should go for from the get-go is sales. After you get sales, you can start optimising. There’s no reason to optimise when there’s nothing to optimise for. It’s not so much about the design and the apps, but rather about the right product and the right audience.
At this point I only have 6 products and 4 apps on the webshop (Hurrify, Product Reviews and Sales Pop by Bekeeting).
Okay until next time guys.