For extra income, many people are willing to work a few hours per week. Online teaching English, working as a graphic designer or pet sitting are all options. Dropshipping is a great way to make your side hustle a profitable business.
Dropshipping is a great side hustle job that can make you extra money. To make extra money online, you first need to find a product. It’s not an easy task.
AliDropship is a dropshipper and we regularly test new products, marketing strategies, and website layouts. We want to share the dropshipping experiences we have created for our customers with those who are still deciding.
AliDropship created this blog to share our product selections, niche ideas and marketing techniques. This experience was also incorporated into our new solution, Premium Products.
Find and check a product idea for an additional $1,000+ per month
Without a product to sell, it is impossible to start making money.
Our team starts looking for product ideas in the first phase by browsing ADSpy. It is a platform that searches for commercial posts on Facebook or Instagram. This product was repeatedly mentioned in our analysis of dropshipping ads.
One particular ad received more than 30,000 views, which is quite impressive. This product solves a specific problem, which makes it easy to promote. The team was intrigued and decided to test the cushion.
To compare prices and shipping options, the team went to the various online shops that sold this product. They also found the exact same product on AliExpress. You can also visit Google Trends to see customer reviews and comments from stores. Then, compare the product with similar products on Amazon.
Nearly 19,000 reviews were posted in the original posts. These reviews included mostly positive feedback about the product and the problems that the cushion was able to solve.
AliExpress’s cushion starting price was $10.43, which is reasonable considering that there are sellers who offer free shipping options. Although the delivery time to the US was a little disappointing, there is nothing you can do about the COVID-19 pandemic.
Statistics from the AliExpress Dropshipping Center show that dropshippers and buyers placed more than 1,000 orders.
Create a product page to showcase the new item
Dropshipping is a great way to make extra money, but we want the product’s sales to be at least 1,000 dollars per month. We must take a serious approach. You can’t promote a product as soon as it is imported to your website.
There is still much to be done, but the first thing that all online businesses must have is a product page.
This is important as all of your marketing efforts will be in vain if the page looks bad. Once a potential client has been successfully brought to the product page, it is important to convince them that the purchase is worthwhile.
This is how the product page looks:
This theme looks clean and tidy, just like other AliDropship themes. It’s important to take away any distractions when someone visits the page, usually after clicking on an advertisement.
We make sure that the description section of every product page is well-written and includes high-quality images.
We also imported customer reviews and photos to show that the product is safe.
If you are looking to make $1,000 per month more from your store, a professionally designed product page is essential.
The new product is being tested
Once the product page has been created, it is time to start thinking about how to attract potential customers. Because millions of people use social media platforms, such as Instagram and Facebook, to promote products, we mainly do so on Instagram and Facebook.
It’s still too early to promote. We need to test and create advertising materials before we can do that.
Testing marketing materials
The team produced a series of video posts for this product (videos work best), and launched a PPE campaign via Facebook.
Many entrepreneurs who attempt to make money online by promoting their businesses via social media consider this a waste. They claim that Page Post Engagement campaigns won’t make you any money, so it’s a waste of time.
PPE Campaigns on Facebook allow you to test ads, target audiences, and the product. A PPE campaign is a great option, as they are relatively inexpensive.
These were the results:
Here, the most important parameters are click-through rates, impressions and unique link clicks. Two of the two video ads that we tested showed decent results. One of the ads was good, but another one didn’t work. We had to turn them off.
Test your Facebook interests
You must analyze your target audience in order to make extra $1,000 per month. A mistake can cost you hundreds of dollars. Our next step is to search and test Facebook interests.
We launch a conversion campaign to see if at least some of these ad sets can bring in actual income. Keep in mind, however, that the ads will need to be maintained on a daily budget. If you notice that the ads are not generating sales, shut them down.
This is what we got. You can see that most of these interests had low clicks and low CTR. We had to stop them before it “ate” our budget. We were able to identify two interests that performed well.
You should also define other parameters for your target audience. Gender and age are your top priorities.
The testing revealed that there is a low demand for orthopedic pillows among those under 35.
Testing banner for remarketing campaigns
We can now launch a remarketing campaign after our conversion campaign brought many people to our dropshipping shop via Instagram and Facebook.
Let me tell you if this is a new concept to you. Many site visitors leave the site without purchasing anything. Some people add a few products to their shopping cart, but they never go to the checkout page. To make more income, a remarketing campaign is set up to follow such individuals.
Our team of designers first creates several ad banners. To test the effectiveness of the banners, the Ecommerce Department launches an advertising campaign. Have a look at these:
Here are two banners that were both successful and unsuccessful. After extensive testing, the team selects the 10 most effective banners and gives them to Premium Product subscribers.
All You Need To Know
Dropshipping is quite different from owning a physical store, but it functions very similarly. You are the “retail store” and a supercenter, like Walmart or Target.
Customers can view products and you process profit margins. A profit margin, as you may not know it, is the difference between the amount you earned and the costs of selling the product.
If you wanted to be like Target, then you would need to buy goods wholesale from wholesalers and store them as inventory. Then, you would sell the goods at a price you decide, which is usually higher than the wholesale price.
Your profit margin is the difference between retail and wholesale prices.
Dropshipping offers a number of advantages over physical retail stores, making it attractive as a startup business.
It’s low-risk. Stocking inventory is not your responsibility. You don’t have to worry about unsold inventory.
Your role is to act as a middle-man between wholesalers and customers. This means you are not subject to traditional retail problems.
It’s also very affordable (even free) for entrepreneurs to start. Startup costs are the biggest obstacle to entrepreneurs starting a business.
You should expect to spend thousands of dollars to start a traditional business.
Dropshipping is an online business that you can start $0 with Shopify, the largest and most popular dropshipping platform. However, your website must be registered. Registering a domain can be done for $10-15 per year if you don’t have one.
This is a remarkable difference in startup cost for a business with a higher chance of success.
Your “store” can be open 24/7 and requires very little maintenance. You can sell wherever and whenever you like. This is a major advantage because it allows you to reach consumers at any time and anywhere you want.
The last point I want to make is that dropshipping offers you a lot of flexibility. Are you unhappy with the way a product sells? You can take it off your site. You want to be the first to know about the latest trends? It takes only seconds to update your inventory.
You have complete control over your sales since you order only from wholesalers what you purchase.
Is it possible to make money with a dropship business?
Imagine this: You turn off your computer for the night, and then you go to bed. You wake up to find that $300 worth of sales has been made in the past 24 hours.
Smile as your day begins well and then reward yourself with a cup of hot coffee.
Seems like a fantasy, right? Perhaps even unrealistic?
Dropshipping is a viable way to make money, and I am the first to admit that. However, it is not a business you can start making money immediately.
In fact, there is NO online business/program/product that can make you rich overnight. It doesn’t exist, except maybe illegally.
Dropship businesses are just like any other legitimate business. It takes effort and time to build them up. You will reap the rewards for your hard work, but only if you are willing to put in the effort.
Too many people are greedy and impatient when they want to make money online. When the “motivation” to succeed online fades, most people will give up and go back to their normal, familiar ways.
Dropshipping, or any other online business, is not the right choice if you want instant wealth.
I won’t sell you a fantasy. This is not the purpose of a dropship company. When you build trust with customers and market your site correctly, you make money. It’s easy to do in theory. All you need is persistence, hard work, and genuine concern for your audience.
Let’s go back to the original question: Is it possible to make lots of money dropshipping? Yes. You can make as much as you like. This is the truth.
This is also the beauty and joy of an online business. There are no bosses to obey, no rules to be followed, and no tasks you can’t do. Your efforts are directly related to your success.
Be aware of the risks and concerns.
Dropshipping is a business. All businesses have some risk. There is no way to know what the future holds, and this has never been more true than today.
Dropshipping is an attractive investment but it does come with a high degree of risk.
It can also be a greater financial drain if it isn’t taken seriously.
Shopify makes dropshipping easy by simplifying a lot the technical jargon. They also offer extensive training and details for dropshipping masters.
You can reduce some of the growing pains that you might experience if you pay close attention to their lessons.
If you ignore warning signs, here are some possible consequences.
- Loss Of Money
- Wasted Time
- Wasted Energy
- Constant Frustration
- Penalization or Sued (more money lost!)
It is easy to lose sight of the larger picture and get lost in the details. This is true for all online businesses, but it’s especially true for Shopify and dropshipping. It can be costly to buy themes, plugins, extensions, and many other things.
You don’t need to buy anything. A free theme with plugins and extensions is perfect for beginners. Do not get caught up with the “shiny new” things.
Don’t buy anything that you don’t know will increase sales.
For example, buying traffic in bulk will not result in any sales because you probably just bought bots without knowing it (even though traffic bulk website owners claim they don’t use them).
Your website will be terminated if you buy reviews or comments from other websites.
Deals that sound too good to be true should be avoided. Be cautious and watch out for scammers.
Dropshipping is not a sure thing. It is very unlikely that you’ll fail if you put in the effort. Dropshipping may not be for everyone. You might find other MMO systems that are more suitable for you.
Personally, this is my favorite.
Good judgment is key to guiding your online business towards success. Dropshipping is no different.
This is when it becomes clear whether the new product is worth the effort and has potential. Let’s look at the financial results.
The campaigns ran for three weeks, and the total revenue from this product was $1,484.67.
You might argue that the team has spent more money than one thousand dollars and that the net profit is less than $500. It’s true, but it is important to remember that testing was a significant expense. Dropshipping is a difficult but necessary part. The results would be much better if the team promoted the cushion after all of the testing, focusing only on the most successful materials or audiences.
The team then sends the item along with the data to our Premium Products list and moves on to next product.
A dropshipping shop should have at least one top product that sells well enough to earn $1,000 per month, or more.