How Much You Should Spend To Test A NEW PRODUCT | Dropshipping Guide
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- Опубликовано: 11 июл 2024
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Hey everyone!
In this video I talk through some guidelines around how much you should spend on your testing when you're trying a new product. There is no set rule with this and it varies by product and by your own personal situation but in this video I give you an idea on the best practices which will hopefully make your budget go further!
If you found this video helpful, make sure to subscribe! 👍
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Thank You for all the content Chris!!
You're welcome!
valuable advice. I'd also add the fact that you need to consider that facebook audiences work best with products with certain upper limit as far as the price is concerned. If you are counting on impulse buys you need to have product that allows for final price to fall into the impulse.
Very informative.. my first comment on your channel after watching a bunch of your videos.. you are a genuine person.. I'm getting your course soon💯%..
Thank you! 🙂
Thank you
You're welcome!
You know what's REEEAAALLLY.... confusing? Is my case: having a fresh Pixel with little data, and running a campaign that only made one sale, and the rest are add to carts, abandoned checkouts, and PayPal errors. After putting my heart and soul into a product, I legit don't know whether to give it a last chance or not. (Remember; when the Pixel is fresh, it's REALLY, ABSOLUTELY, EXTREMELY confusing to tell if something isn't right OR it's that I didn't throw enough money to feed it).
You need to spend money to acquire data to make decisions on those camaigns. If you are driving traffic at a decent cost but people aren't converting on the website then you need to look to improve your website or your offer.
Can you explain the knowledge of math(numbers) formulas needed for dropshipping.
Great content as always! I wonder what profit margin are you going for? Would you still go with a $15 margin or $20 upward?
Hey, yeah I'd always try and aim for around $20+ now
I would love to know what a winning product looks like.
Do you think a winning product would overcome some meta data that it shows clearly? Great video very helpful. Have you had success with a general store?
Hey, you should check out my free training website. I talk through what makes a winning product in there >> chriswane.com/training
Another nice video, cheers mate. Got quite an unrelated question. I'm unsure what to select as my store currency GBP or USD. I'm also unsure if I should start selling in the UK or the US. Ohh and I remember that you posted a video about shopify multicureency, does this mean that we dont need to use those currency apps?
It's up to you really, if you're looking at targeting the US then USD is best. You need to use the Shopify payment gateway for multi currency but I don't think it auto changes
@@ChrisWane I'm hoping to sell worldwide but start with either US or UK. Still unsure which one to start with.
Hey chris.. i want to know how do you manage your accounting stuff. So that they are tax compliant. I mean the sale and purchase invoices and bill. Is there an app or you hire someone.?
Hey, I have an accountant that deals with all the tax side of my business
Hey chris, do you kill bad performing adsets after a day or week or if ilifetime ROAS drops below BEP??? In general while analyzing ad performance do you kill adsets on the basis of one day, week or lifetime performance???
Hey, I kill adsets once they go below the BE ROAS over a 7 day period
@@ChrisWane Thanks for the reply u r the best
Hey Chris, little help please...once my order arrives at the destinations post office what should i do? Should i email my customer and remind them to pickup their package or is it taken care of by Shopify? Since we can't add phone number while ordering from Ali, delivery guy won't be able to call the customer....What should i do? I am also using order tracker app that sends notification??
It might be alright when you have low order volumes but when you start to scale it becomes unmanageable. I never contacted my customers, I relied on them keeping an eye on the tracking and also looking for for cards left if deliveries couldn't be made.
Hi Chris, how bad has China condition hit the Dropshipping scenario. All I hear is that even stable stores are putting things on hold for some time.
It all depends on the suppliers. Some people are still shipping but you would need to check with your individual suppliers to be sure.
Thanks Chris. Makes so much sense. Thanks.
I need this video
Glad you found it useful!
Hi Chris. Is it possible to get on a call with you? Like a paid call to help with my Ads?
Hey, yeah I offer coaching calls. Just drop me a message through my Facebook page >> facebook.com/chriswanedropshipping
Hey Chris, Great video! I'm trying to create a business manager account whilst following your advanced dropshipping course, however it just doesnt let me create one. I've created a new facebook account too and it still doesn't let me. I don't even have access to the facebook group because I can't log into my account (i can log into the second one for now)
Ive made my way into the ads manager but i'm not sure if it's the same as the business manager account.
What does the error say? You're probably going to need to reach out to Facebook about that.
@@ChrisWane It says "An error occurred while processing this request. Please try again later.
" I've been trying for about 3 days now. I've spent hours trying to find a solution or a way to contact facebook but got nothing!
dad?