If there's anything Teespring has taught me, it's to test your socks off!
Whether it's drop-shipping, Teespring, Affiliate marketing, or any general business venture, spending money to test where your customers head is at is crucial before committing.
It could mean the difference from a few 100 dollars to 100s of thousands.
Today I thought I'd walk you through a usual morning of my Teespring/Drop Shipping life.
I also wanted to briefly mention a private forum I'll be launching soon with over 70 Premium Video Tutorials for Teespringers and Drop Shippers.
It has case studies of over $50k in revenue and will be an amazing place to grow, discuss and learn about ecommerce.
Anyway, that's for another post.
Here's a bunch of ads I set up the other day @ $5/day.
The 'Amount' Column shows you how much I've spent so far.
The purpose of this is to show you my methodology for testing and WHY I think you need a bit of money in the bank to start with this business.
My method is to cast a broad net and focus in on what's working/showing signs of interest.
I have a variety of jewellery pieces being advertised above and you can see in the 'cost' column, the cost per engagement varies.
The lower this cost, the more engagement you're getting on your post.
But the REAL value of interest here is the last column. CPC or 'Cost Per Click'. Clicking what? The product link of course!
People liking, commenting, sharing the post is one thing. People actually clicking the product link to check out the product? Now that's something else.
I usually aim for CPC's of around $0.50 - $1.00. That means, Facebook is charging me $0.50 - $1.00 per person to visit my website.
One thing you'll realise being a FaceBook marketer for a long time is that FaceBook data is sometimes WAY off. Although it says, in the second last column, (Unique Clicks to Website), that I've had around 2-3 clicks per ad set to my site, (with the top one being an exception), my shopify analytics show something different.
Most of my products are getting way over visits compared to what FaceBook is telling me. For this reason, what FaceBook tells you it's charging you per click, isn't necessarily 100% accurate.
This data should primarily be used to judge the potential of the campaign.
Anyway, there are some products out performing others.
Let's look at a complete ad set where I'm testing 3 different flower shaped rings. (Ignore the T-Rex necklace)
FaceBook tells me that the first one is the most popular.
It's still way too early to tell though as I've barely spent a couple of dollars on each ad!
I'll let my tests run to about $20 unless they're performing REALLY badly.
Nothing to be crazy excited over, but considering I've spent around $5 on each ad set, this means that one of them is profitable, (so far).
This is not a winner just yet thought.
A winner will give you consistent sales. That's when you can scale.
I just wanted to highlight the testing process and my mentality behind it.
I'll go ahead and continue to spend out for these 13 or so products that I've set up.
I might spend $100-$150 all up testing these with a few sales here and there to cover for my costs but there's a slim chance that one of these becomes consistently profitable.
If that's the case it could earn me from a few hundred to a few thousands.
Sometimes, I've been able to scale to over $100k!
All this testing might seem an expensive investment, but in the long term, with these winners loading up your bank balance here and there, you'll find that the revenue hugely out weighs the costs to test and scale.
This is the basic Drop Shipping/Teespring model and is one I and many other marketers have been using.
Hopefully, this post gives you an insight into how I run my business.
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