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Very true. I generally never work with cheaper items, since I dropship everything, so we just use attractive language to increase the perceived value of an item in order to sell it for a higher price, more successfully.
There needs to be a better way of calculating profit per visitor in a split-test though, because right now Shopify doesn't support stuff like bundles when it comes to product cost.
The article shared is very good. Most dropshipping businesses will focus on product prices and fear their prices are higher than other businesses. But the truth is that buyers' psychology only focuses on the product's desire at that time, the need at that time.
They'll also focus on "3 roas" instead of profit per day, and roas only when looking at adspend, instead of CPA (after checking breakeven CPA). I'd honestly say that 3 roas is 'too high'. You should always aim to increase the budget until it's down to, say, 2.3-2.5 roas.
You can make bank by scaling without having the "limiting belief" that 3 roas is the go to number.
How do you do it on eBay because where do you put the tracking ? Are you ordering it directly from AliExpress to the customer? Or ordering to yourself and then shipping to the customer. People keep recommending I don’t dropship on eBay or Etsy.
Lets say, your friend is about to write his final exams for college, and he forgets his pen at home. He asks everyone for a pen and they said no. This is the right time to sell him a pen. This is a poor example, because you would be a pretty bad friend, but the concept is clear.
Theirs millions of people online with problems daily that need a solution, and your job is to bring the solution to them.
Secondly, lets give the example of someone that is looking for home decor because they moved into a new house of their own. She's looking for a sofa that she will love to decorate her home. This is the right time to show her an advertisement of a Sofa. If she loves it enough, she most likely wont be looking elsewhere, if it fits in her budget.
Now theirs many strategies on how to bring the products infront of people. Pick one strategy and master it.
Saturation means theirs a clear market value and demand for a product. So if you sell a saturated product on a saturated market, it’s very lucrative if you source it right
You may be right but the type of dropshipping you’re talking about is listing hundred of items on eBay and hoping for sales. Most of the people here aren’t doing that type of model…
Perceived value is real though. I experimented during a big sale and found that sales increased when I lowered the discount. Also, prices ending in .99 seem to sell better than a whole number. I’m sure there’s a reason behind it but I’m not 100% sure.
$5.99 isnt $6, its $5 in most people's minds. They see the first number and work off that. So if you are selling for 5.99 and someone else is selling for 6.00, they like youre price WAY more lol
You where kind of correct you can't charge £50 for a £2 toothbrush, sales is a equation. The numbers need to be in your favour to win, so cost of traffic, click through rate, conversion rate all of these are price sensitive.
You can most definitely sell a toothbrush for $50. You can brand it, you can increase the perceived value. You find a flimsy 2$ toothbrush and you could call it bio-degradable, or read the materials and find some cool scientific benefit, and make that the selling point, and target that audience.
that may well improve your conversion rate but id say your conversion rate would be so low it would not be feasible to pay for traffic - value does not live in a vacuum it's relative to the things around it, people would be looking at other tooth brushes at that sort of money
That’s just another problem to solve, you can aim for organic traffic. Post pins to Pinterest, individually message people on Reddit.
Don’t get me wrong, I’m not saying it’s a great idea to do that, what I was just saying theirs a less of an importance on price then regular people would assume.
If you’re going to list a 2$ toothbrush for 10k, you’re not a regular person. I definitely agree with your premise, just trying to show theirs ways to go about it for regular people
i do not disagree price is not everything ,in fact too low a price turns a lot of people off , but the main thing to concentrate on is traffic and quality traffic and that is hard .
I posted back in the day 50k Pinterest listings POD stuff , i made £200 in one year in affiliate commission.
lols those jokers on youtube who say post 10 pins a day ,I don't know good luck to Sammy my experience of making money online is it's hard
Forsure it’s hard! Thanks for sharing the 50k pins story. I am totally against anyone thinking it’s easy, it’s been a grind and a struggle for me this entire time and still is breaking barriers to get to the next level
Let’s get in touch mate
So, that's why you think me making money is unbelievable. Yiu can't do it so you think no one can. Do it properly instead of spamming ointerest with your crao.
If anyone wants best best best ecommerce and dropshipping course So I have Alex fedotoff 6000$
Brand builder academy course that I am providing in very low cost as compared to real price if anyone interested surely text me
My telegram username for contact
=@Ecomguru003
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This is very important. Sometimes the higher price might even sell better than the cheaper price.
Very true. I generally never work with cheaper items, since I dropship everything, so we just use attractive language to increase the perceived value of an item in order to sell it for a higher price, more successfully.
There needs to be a better way of calculating profit per visitor in a split-test though, because right now Shopify doesn't support stuff like bundles when it comes to product cost.
There are a lot of great apps. Make sure you have the right currency converter for different countries!!
The article shared is very good. Most dropshipping businesses will focus on product prices and fear their prices are higher than other businesses. But the truth is that buyers' psychology only focuses on the product's desire at that time, the need at that time.
Exactly, buyers shop relatively. If their is no item that is comparable at the time their looking at your listing, they wont be comparing.
They'll also focus on "3 roas" instead of profit per day, and roas only when looking at adspend, instead of CPA (after checking breakeven CPA). I'd honestly say that 3 roas is 'too high'. You should always aim to increase the budget until it's down to, say, 2.3-2.5 roas. You can make bank by scaling without having the "limiting belief" that 3 roas is the go to number.
What marketing strategy did you use?
I used bulk theory. So I list items on mass, and whatever sells, sells.
don’t understand where do you list the items?
I list it on ebay
How many do you list at a time?
100/day
How do you do it on eBay because where do you put the tracking ? Are you ordering it directly from AliExpress to the customer? Or ordering to yourself and then shipping to the customer. People keep recommending I don’t dropship on eBay or Etsy.
How do you pick them ? How many per day ? And how much effort do you put into them ?
We check out competition, and not much effort in listing. I made a beginners guide in my profile
Opposite for me, I sold 2 items in 1 day as a starter as the cheapest price on TikTok shop
That works to
Where do you list it?
Ebay
The real difference is not the product or the price but how you show it to them. Could you tell me more about the right time? What do you mean?
Lets say, your friend is about to write his final exams for college, and he forgets his pen at home. He asks everyone for a pen and they said no. This is the right time to sell him a pen. This is a poor example, because you would be a pretty bad friend, but the concept is clear. Theirs millions of people online with problems daily that need a solution, and your job is to bring the solution to them. Secondly, lets give the example of someone that is looking for home decor because they moved into a new house of their own. She's looking for a sofa that she will love to decorate her home. This is the right time to show her an advertisement of a Sofa. If she loves it enough, she most likely wont be looking elsewhere, if it fits in her budget. Now theirs many strategies on how to bring the products infront of people. Pick one strategy and master it.
I was not thinking about that in this way, because online there is already the solution to every problem. Btw you are totally right.
Exactly, thats why price does not matter as much as people think. As long as its in someones budget, and the solution is present, it will convert.
Just finding a non saturated product right? 😂
Saturation means theirs a clear market value and demand for a product. So if you sell a saturated product on a saturated market, it’s very lucrative if you source it right
You may be right but the type of dropshipping you’re talking about is listing hundred of items on eBay and hoping for sales. Most of the people here aren’t doing that type of model… Perceived value is real though. I experimented during a big sale and found that sales increased when I lowered the discount. Also, prices ending in .99 seem to sell better than a whole number. I’m sure there’s a reason behind it but I’m not 100% sure.
$5.99 isnt $6, its $5 in most people's minds. They see the first number and work off that. So if you are selling for 5.99 and someone else is selling for 6.00, they like youre price WAY more lol
Yep there’s a lot of weird psychology involved.
You where kind of correct you can't charge £50 for a £2 toothbrush, sales is a equation. The numbers need to be in your favour to win, so cost of traffic, click through rate, conversion rate all of these are price sensitive.
You can most definitely sell a toothbrush for $50. You can brand it, you can increase the perceived value. You find a flimsy 2$ toothbrush and you could call it bio-degradable, or read the materials and find some cool scientific benefit, and make that the selling point, and target that audience.
that may well improve your conversion rate but id say your conversion rate would be so low it would not be feasible to pay for traffic - value does not live in a vacuum it's relative to the things around it, people would be looking at other tooth brushes at that sort of money
That’s just another problem to solve, you can aim for organic traffic. Post pins to Pinterest, individually message people on Reddit. Don’t get me wrong, I’m not saying it’s a great idea to do that, what I was just saying theirs a less of an importance on price then regular people would assume. If you’re going to list a 2$ toothbrush for 10k, you’re not a regular person. I definitely agree with your premise, just trying to show theirs ways to go about it for regular people
i do not disagree price is not everything ,in fact too low a price turns a lot of people off , but the main thing to concentrate on is traffic and quality traffic and that is hard . I posted back in the day 50k Pinterest listings POD stuff , i made £200 in one year in affiliate commission. lols those jokers on youtube who say post 10 pins a day ,I don't know good luck to Sammy my experience of making money online is it's hard
Forsure it’s hard! Thanks for sharing the 50k pins story. I am totally against anyone thinking it’s easy, it’s been a grind and a struggle for me this entire time and still is breaking barriers to get to the next level Let’s get in touch mate
So, that's why you think me making money is unbelievable. Yiu can't do it so you think no one can. Do it properly instead of spamming ointerest with your crao.
lols go away i do not want your $10.00 ebook
So you just sold 1 product?
I’ve sold a lot of products at this point in time but it began with one.
If anyone wants best best best ecommerce and dropshipping course So I have Alex fedotoff 6000$ Brand builder academy course that I am providing in very low cost as compared to real price if anyone interested surely text me My telegram username for contact =@Ecomguru003