Hello, everyone! Welcome to the second episode of dropshipping diaries.
Those who are new to this page or are not aware of dropshipping diaries, here is a recap of what happened on the last episode.
On our Facebook Community, we promised our members that we will run and scale up an ecommerce store with our friend Alex and show monthly updates of the store.
In the first episode, we scaled our ecommerce store’s revenue from zero to 14k in just 30 days.
The episode received a fantastic response and opened new insights of ecommerce along with a chain of constructive questions that we frequently answer in our community.
Do join our Facebook Community of 4K+ to get involved in effective communication regarding ecommerce and dropshipping business.
Now, coming back to the topic, in this episode, we will show the performance of our ecommerce store from June 1 to June 17, 2019.
Can you guess how much we made in the last 17 days?
Hint: It’s more than three times what we made in the first month.
Still didn’t get it?
We made $46,670.54 from June 1 till June 17 😀
It is quite an immense growth.
So how did we hit such a big number in sales?
Before we answer this question, can you guess how many winning products we discovered this month to achieve these sales?
Just 3 products!
But did we only use Facebook Ads?
NO! We made profits through upselling.
The primary target was achieved from one click upsell.
We hope that the significance of upselling, ads and visitors engagement must be clear to you by now.
Facebook Ads Optimization
At this stage, we are just playing it with the CBO (Campaign budget optimization).
What is Campaign budget optimization?
Campaign budget optimization is the automation of assigning a budget to the ad sets.
For example, if you make 10 ad sets in one campaign and set a $50 budget for the campaign. The BDO will automatically put more budget into those ads that are performing well among others.
The strategy was to replicate the ad sets and increasing the budget of ad sets, so we can decide the budget of the campaign.
Those who do not know about these levels and Facebook ad technicalities, they can download our Free guides to learn about social media marketing and product research.
Moreover, we are using the Bid Cap strategy. We are just putting bids on which we can breakeven. And as we have mentioned earlier, through the upsell, things are working fantastic.
Check out the guide on “How to run Facebook Ads”
What mistakes did we make?
You remember the VA that we hired last month for order fulfillment and he was making many mistakes. Perhaps we need to learn more about how to hire a virtual assistant.
Therefore, we fired our VA and recruited a new one.
However, it was not as easy as it seems. We have 3 winning products and we were getting a lot of orders. Still, somehow, we found a new one.
Problems solved. NO!
While hiring of a new VA for our business, we just realized that our 800 orders are still in the process of fulfillment and needed to be fulfilled within 3 days.
That reminded me of my old dropshipping learning – if you are doing dropshipping, every day is essential.
Now we were in an urgent need of a VA to do our customer services because we have to fulfill 800 orders and we are getting emails and messages from angry customers.
So, we hired one VA and luckily a good one. Alex came in direct coordination with the customer service VA. However, the fulfillment of orders was still in process and we also faced some refund request from different customers.
Hence, two things we learned:
1- A strong team is necessary for running a successful business
2- Customer service should be given the highest priority to run a successful business
But if you know how to deal with an angry customer that is a plus point.
Total Profit till now
Total Revenue till 17 June: $46,670.54
Total Spent on Ads till now: $22,359.96
Money sent to the supplier: $10481
VA cost: $150
Total Net Profit: $12728.58(We have still 3 winners :D)
See you again
So far, the store has been scaling up at a promising rate. We made some blunders but that’s part of the learning process. You all can learn from our success and mistakes, both will help you ensure smooth operations of your dropshipping business.
See you again soon with the next episode!