Another 100 Campaign Launch Challenge!
This time we’re doing just drop shipping.
First, Some Cold Hard Logic
There’s no better way to find a profitable campaign other than focussing on launching. This holds true for Drop Shipping and Teespring.
Sure, researching, building your website, fine tuning things, etc is great but nothing will get you that gold nugget faster than actually looking for it. This is what most people don’t understand and give up too early.
If your about to give up ask yourself how many actual campaigns did you actually launch? In most cases it’s less than 10. It took me 30-50 drop shipping campaigns to find one that brought in $3-$4k.
Worth it? Let’s do the math.
50 x $20 = $1,000 in testing
1 profitable campaign = $3,000 in profit.
This is how it works. It seems like a lot of work but at 5 launches per day, after 2 weeks you should hit 50 campaigns. $3k for 2 weeks worth of part time work? I’ll take it any day over employment.
Day 1, What did I do?
6 campaigns launched.
I set the budget at $15/day. This figure doesn’t really matter much, it’s really up to you how much you’d like to spend per day.
I like testing and finding those winners fast. I’m happy to lose $100-$200 in a day if it allows me to find that profitable campaign quicker.
I’ve done my math, I know my statistics and I know how much the average profitable campaign brings in.
This can be different for everyone. $5/day is totally fine. You just have to wait 2 full days to figure out if the campaign is worth it or not!
Let’s Look at the Stats
Testing 7 campaigns cost me $96.00.
I’ve mentioned this many times, the most important metric I look at is ‘cost per unique clicks’, (last column). This is how much you’re paying per person to get to your website. Obviously the cheaper the better right?
Last 4 campaigns are doing pretty bad to average.
Last campaign, right at the bottom gave me 0 clicks to my website! EVEN if I was getting 5 cent PPE costs! Immediate pause. No clicks to website after $10 = fail.
The other 3 in the last 4 are giving me clicks over $1.00. In my experience this is too much. A great campaign will get you clicks to your website for peanuts! Notice the $0.28 cost per click campaign? That’s what you want! For a $10 spend I can get 30 people to my website. $28 for 100. If I can convert at just 2% with a $30 profit margin = 2 sales = 2 x $30 = $60 with a $28 spend. Good chance of profiting!
The top 2 aren’t doing too bad! My profit margin on this product is $30-$40 so I don’t mind spending $30 to test these. I’m marketing them in the U.S.A and in my experience campaigns that give me great click throughs but don’t sell often work in other western countries such as Australia, UK, Cananda.
So my next step is to take this campaigns and launch them there in addition to a few completely new ones.
No sales for the first set of tests. No worries, we have another 93 to launch! If I can find just one campaign that brings me money, I win :).