We researched and found out top 3 reasons for failing in dropship business.
1. Not becoming a curious learner.
- If something fails, think about the potential reasons why it failed.
- Look at what top stores are doing, look at their FB ads. How does your ads compare ? How does your site compare ?
- Join as many dropshipping FB groups as possible, learn from others and help others in groups.
Look deeper in to your FB metrics:
- Launching failed ad sets ? –> Look at demographics breakdown, see who purchased.
- High CPM’s or no one clicking your ads ? –> Look at watch time % on your ad sets.
- Test everything –> test duping, increasing budgets, different ad accounts. FB is random.
2. Copying someone else’s video ad creative and product page WITHOUT change anything.
- Could be done 6+ months to 1 year ago –> FB is smart now and know when you copy and will penalize you with higher CPM.
- Take the time to learn how to overlay and cut together videos.
3. Not being comfortable spending money and LOSING.
- Never start any business if you are in financial stress.
- Don’t quit your day job and go ‘all in’ when you now nothing. You need free cash flow to invest and learn in FB ads.