Success in 24 Hours: My Shopify Dropshipping Experiment
Table of Contents
- Introduction
- Finding the Right Product
- Setting Up a Store
- Creating Ads
- Launching the Ads
- Monitoring the Results
- Analyzing the Profit
- Conclusion
Article
Introduction
Welcome back, guys! In this video, we're going to embark on another exciting 24-hour dropshipping challenge. We'll take you through the process of finding a profitable product, setting up a store, creating ads, and running the product for 24 hours. So if you're starting a new Shopify store, stick around because we've got some valuable tips and tricks for you. Plus, we have an exclusive offer for an extended 45-day Shopify trial. And if you're interested in learning directly from me, I have a mentorship program with a wealth of resources that you can join for just $50 a month. And if you're watching this within the first month, you'll also get a chance to enter a $2,000 giveaway! So let's dive right into the video!
Finding the Right Product
The first step in our 24-hour dropshipping challenge is finding the perfect product to sell. For this task, we'll be using Peaksta, a reliable product research software that constantly adds new products to its database. We'll scroll through the list and look for products that catch our eye. Once we find a product that piques our interest, we'll head over to AliExpress to check if we can find a supplier at a reasonable price. We want to ensure that the product has good margins and is likely to sell well. After some searching, we find a neck massager with three different wheels that seems promising. It's similar to a previously successful product but with some improvements. It has a high number of orders, positive reviews, and a reliable supplier, making it a great choice for this challenge.
Setting Up a Store
Now that we have our product, it's time to set up a store. To make things easier, we'll turn to Star Stores, a trusted service that specializes in creating professional-looking Shopify stores. They offer various packages at affordable prices, and their stores have a sleek and branded appearance. Once our store is up and running, we'll have a beautiful homepage that showcases our product and an enticing product page with captivating images, well-written descriptions, and positive customer reviews. Star Stores does an excellent job with the design and layout, creating a store that instills trust and encourages visitors to make a purchase.
Creating Ads
With our store ready to go, it's time to create eye-catching ads. To simplify the process, we'll rely on Launch Ads, a service that specializes in creating attention-grabbing ads for dropshipping businesses. Whether you lack editing skills or simply want to save time, Launch Ads can create professional ads that resonate with your target audience. We opt for their Tick Tock package, which includes engaging visuals and compelling copy. The ads they deliver are attention-grabbing, yet authentic, with a user-generated feel to them. We are confident that these ads will perform well and drive traffic to our store.
Launching the Ads
After a few days of waiting, our ads and store are finally ready to launch. We head over to TikTok Ads Manager to set up our campaigns. First, we choose the website conversions objective and name our campaign "Neck Massager." We configure the ad group settings, targeting the US audience, both genders, and ages 18 to 55+. We choose a daily budget of $20.77 per ad and select the lowest cost strategy for optimization. Our ads feature enticing visuals and compelling text that urges viewers to check out our product. We duplicate the ad sets to maximize our reach and click the "Launch" button with anticipation.
Monitoring the Results
Now that our ads are running, it's time to monitor the results closely. We keep an eye on our Shopify dashboard, which shows us the number of orders and revenue generated. Within the first 24 hours, we receive six orders, bringing in a total revenue of $152.91. Two customers even opt for the shipping upsell, adding extra profit. This initial response is encouraging, as we have managed to make sales and cover our ad spend. It's a promising start, and we're eager to see how the campaign progresses.
Analyzing the Profit
After 24 hours of running our ads, it's time to analyze the overall profit. We refer to our profit and loss sheet, which breaks down the revenue, product cost, payment processing fees, and ad spend. We see that with a revenue of $152.91, an ad spend of $80.89, and other costs considered, we have managed to generate a profit of $7.65. While it may not seem like a significant amount, the fact that we are in the green is a positive outcome. It shows that our product and ads are resonating with customers and have the potential for growth.
Conclusion
In conclusion, our 24-hour dropshipping challenge has been a success so far. We have found a promising product, set up a professional store, created captivating ads, and generated a profit within the first 24 hours. While there is still room for improvement, this initial success sets a solid foundation for future growth and optimization. Dropshipping can be a highly lucrative business model with the right strategies and execution. We hope this video has provided you with valuable insights and inspiration for your own dropshipping journey. Remember to subscribe, like this video, and check out the links in the description for exclusive offers and resources. We'll see you in the next video!
