Summary of I Tried Dropshipping For a Week (RAW RESULTS)

Summary of "I Tried Dropshipping For a Week (RAW RESULTS)"

This video documents a 7-day dropshipping challenge where the presenter attempts to build a profitable dropshipping store from scratch with a $500 ad budget and no prior connections or expensive tools. The goal was to make at least $1,000 in revenue within a week, focusing on pure execution and transparency.

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Main Financial Strategies and Business Trends:

• Product Research Without Paid Tools:
  • The presenter avoided expensive product research tools, relying instead on Instagram and TikTok feeds to identify trending products by engaging with sponsored ads.
  • Used a self-made "winning product cheat sheet" in Notion to track potential products, including product cost, selling price, and competitor analysis.
• Product Selection:
  • Focused on personalized jewelry, particularly a heart pendant with customizable beads, due to high perceived value, good margins (product cost ~$6, selling price starting at $60+), and strong competitor sales (competitors doing $200K+ monthly).
  • Considered but ruled out a custom map coordinate jewelry product due to sourcing issues.
• Branding and Store Setup:
  • Used AI tools (Claude) to generate brand name ideas and product descriptions.
  • Purchased a domain and set up a Shopify store using an AI store builder for quick setup.
  • Customized the store with mobile-first design, product bundles, and trust badges.
• Marketing and Ad Strategy:
  • Analyzed competitors’ ad libraries to replicate winning video ads and ad copy.
  • Purchased video ads from a service (Viral Ecom Ads) to save time, using competitor ads as references.
  • Ran Facebook Ads campaigns with a $50 initial budget, using Advantage Plus (CBO) campaigns optimized for purchases.
  • Tested different creative types: video ads, UGC-style ads, and static ads to find the best-performing creatives.
  • Adjusted budgets dynamically based on ad performance, increasing spend on better-performing campaigns and reducing or turning off underperforming ones.
• Order Fulfillment:
  • Automated order fulfillment using AutoDS linked to AliExpress suppliers.
  • Managed shipping and processing options to increase average order value (AOV), e.g., priority processing and insured shipping.

Step-by-Step Methodology:

1. Product Research:
   • Engage with Instagram and TikTok sponsored ads to surface trending products.
   • Log potential products in a spreadsheet with key metrics (cost, price, competitor data).
   • Analyze competitor sales and ad strategies.
2. Product Selection:
   • Choose a product with good margins, high perceived value, and proven competitor success.
   • Confirm sourcing feasibility.
3. Brand Creation:
   • Generate brand name ideas using AI tools.
   • Purchase domain and create email accounts.
   • Build Shopify store using AI tools and customize for mobile users.
4. Store Setup:
   • Import product listings via AutoDS.
   • Customize product pages with improved copy and images.
   • Design logo and branding assets using Canva or similar.
5. Marketing Preparation:
   • Analyze competitor ad libraries to identify winning ad creatives and copy.
   • Order professional video ads based on competitor examples.
   • Create Facebook ad campaigns optimized for purchases with Advantage Plus.
6. Launch and Testing:
   • Launch ads with initial budgets and monitor performance.
   • Track sales, cost per acquisition (CPA), conversion rates, and revenue.
   • Adjust budgets and creatives dynamically based on performance data.
7. Order Fulfillment and Customer Service:
   • Automate order fulfillment through AliExpress suppliers.
   • Manage shipping options to increase AOV.
8. Daily Monitoring and Iteration:
   • Review ad spend, sales, and conversion rates daily.
   • Optimize campaigns by reallocating budgets to better-performing ads.
   • Make website changes based on performance and customer feedback.

Results and Insights:

• Sales and Revenue:
  • Total revenue over 7 days was approximately $758.90, short of the $1,000 goal.
  • Total ad spend was about $389.61, with product costs and transaction fees bringing net profit to roughly $141.49.
  • Best day saw $215 in sales with multiple orders and a conversion rate around 4.5%.
  • Cost per acquisition ranged from $15 to $30 depending on the campaign and day.
• Challenges:
  • Limited time and budget constrained the ability to fully optimize and scale.
  • Some ad campaigns underperformed, requiring budget shifts.
  • Early rapid ad spend risked exhausting the budget before the challenge ended.
• Key Learnings:
  • Competitor ad analysis is crucial for quick creative development.
  • Video ads referencing proven competitor content perform better than generic UGC.

Notable Quotes

— 29:10 — « We might be exhausting the budget completely before the challenge even ends this 7-day period. »

— 39:09 — « You just got to believe. »

— 44:31 — « I truly think that if I had more time, I just really didn't have these constraints—budget constraint and time constraint—that I would be able to make this product actually work or make a lot more money and eventually hit the 1K. »

— 45:08 — « I really enjoyed doing this challenge and it's a very humbling experience. »

— 45:14 — « Only did 758 out of the 1,000 in total revenue so a deal is a deal and I'll be giving away $500 to someone in the comments. »

Category

Business and Finance

Video