Starting a dropshipping business can be an exciting opportunity! But before you jump in, it's crucial to validate your idea and ensure there's a market for your product. Many new entrepreneurs are eager to start their business and don't take the time to test their ideas, only to find out too late that there's no demand for their product!
We have all been there: the excitement for a new idea, the vision, the positive thinking...finally, we start creating the processes and we are all in!
But...often times, our passion for creating and building our dreams can cloud our judgement and preventing us to see the most important aspect: how to make money!
"After all...why shouldn't people buy this product? It's so amazing! And I will finally put my business in autopilot like they say on Youtube!"
Not exactly...among the most asked questions about dropshipping, I found:
1. Why do most dropshippers fail?
Most dropshippers fail because they don't do sufficient research, validate their product idea, or find a reliable supplier. They may also struggle with marketing and driving traffic to their store, as well as with fulfilling orders and providing good customer service.
2. Why is dropshipping so hard?
Dropshipping can be hard because it requires a good understanding of marketing and customer acquisition, as well as a competitive niche. It also requires a lot of time and effort to find a reliable supplier and manage your inventory.
3. How to dropship with no money?
Let's find out!
Building a business is amazing, but you want to minimize your risk and finding out the demand before you even start it, rather than spending a lot of time creating it, and when you finally launch it...nobody is there to buy! That's why I always recommend to setup things fast, at the lowest cost possible, so if things don't go as expected, you haven't invested too much and you learnt a lot! In this blog post, we'll explore the importance of testing your dropshipping idea and provide step-by-step instructions on how to validate your market FOR FREE!
So, once you do your tests and you validate the demand, you can actually start setting up your business and start making money!
Now, let's jump straight in. What does it mean to "study the market?"
Simply put, you need to find a product that people want.
Then, you need to find those people.
Then, you need to put your product in front of them.
So, no matter how much you personally like a product or how much a Youtuber is saying that the product is selling...if people don't have their money ready to purchase, nothing matters.
Imagine yourself as a client. What do you generally buy?
Ok, you are part of someone else's market demand.
Now, you just need to find a demand, then you will test it, then you will source the product and create a website.
A big error dropshippers entrepreneurs do is falling in love with an idea, source the product, build websites, social, everything....and then....0 sales.
So, the question is: is there a way to do this process at 0 cost?
Yes there is. Actually, there are many. So, you are about to read one of mines!
Tool 1: Treendly
Treendly is a FREE better version of Google Trends. It gives you so much more info, that once you try Treendly, you will never go back to the Google Trends' 90's user experience.
First. Treendly gives you curated trends, without even searching. Just go to Treendly and discover trending products or queries in no time. Google Trend is still pretty much based on: "you either know what you are searching, or you won't find out anything new". So, while Google Trends doesn't really help you in "knowing what you don't know", Treendly does!
Did you know that these products where trending? I didn't. Now I know.
Also, why doesn't Google Trend give you the estimated searches a month?
Or just a better chart than this? (See below chart for UDEMY Trend on Google Trend)
I am sorry Google, now I am using Treendly.
Treendly is user friendly, gives you the number of searches, the increment over time(!) and a much better chart. On top of that, as we saw above, they give you curated trends so you can discover new ideas just by checking their website.
Also, they give you releated queries on Amazon, Youtube...
Treendly offers a paid plan with more advanced features and curated trends.
Once you have a successful dropshipping business, I would recommend you to upgrade! Knowing and understanding the market demand is possibly the most important aspect of a business.
Tool 2: Keyword Everywhere
Keyword Everywhere is a FREE Chrome Extension that supports 15+ websites, including Google, YouTube, Amazon, Bing, Google Search Console, Google Analytics...
For instance, if I open it on Google while I search for Dropshipping, this is what I got
The Google Trends chart, directly on Google.com (on the right side)
Related search queries directly on Google.com (on the right side)
So, for instance: I can go on Treendly, see what is trending, and search for related keywords just by opening Keyword Everywhere extension.
How much did I spend so far? 0 dollars. Let's continue.
Tool 3: Facebook Groups
Facebook groups have become a valuable resource for individuals and businesses looking to find product ideas. Here are some reasons why Facebook groups can be considered a goldmine for finding product ideas:
Large and active user base: With over 2.8 billion monthly active users, Facebook has one of the largest user bases of any social media platform. This means that there are likely to be many Facebook groups dedicated to specific interests or hobbies, providing a rich pool of potential customers and insights into their needs and wants.
Targeted communities: Facebook groups are highly targeted communities where members share common interests, passions, or problems. These groups provide an opportunity for businesses to learn about the pain points and unmet needs of their potential customers, and to test product ideas and gather feedback.
Real-time insights: Facebook groups are dynamic communities where members engage in real-time discussions and share information, opinions, and experiences. This provides businesses with valuable insights into the latest trends, hot topics, and emerging customer needs, allowing them to stay ahead of the curve and make informed decisions about product development.
Cost-effective market research: Joining a Facebook group is a cost-effective way for businesses to conduct market research and gather customer insights. It eliminates the need for expensive surveys or focus groups, and provides access to a large, engaged, and diverse group of customers.
Also, you can even start setting up your brands and interact with clients by providing them value. How? You can do it with Artificial Intelligence, using a Chrome Extension called Merlin. It's basically a GPT-3 model app that can follow you around the web and help you write anything you need in seconds!
Imagine you are in a Facebook group, looking for product ideas. You can look for what people are asking and even reply to them in seconds with AI!
Tool 4: Google Keyword Planner.
Go to Google Keyword Planner and type in your search queries (in this case, the product you want to test) and see the related searches. You can see search volume and rising searches to further validate your assumptions.
You can see below, some queries have been increasing by 900% to even 9,900%!
This is a great way to understand the demand for a product further.
Tool 5: Tik Tok Trend Discovery
Trend Discovery is a pretty mind-blowing tool. In all the years of marketing experience I have, I have never see something so cool, so powerful and so user-friendly.
I don't want to spend too much time on this, but it's truly amazing!
You can find for hashtags, songs, videos, creators...in seconds!
Here you can see what is trending on tik tok with numbers, charts and examples...what??
I mean...it couldn't be easier to spot trends!
Make sure you bookmark Tik Tok Trend Discovery, for another important reason: ads!
The list of tools could go on, but, by now, you have more than enough to study the market and try to understand what could be selling!
Now you need a product.
But wait. You don't need to source it yet, you don't need to upload it on your website, because you don't even have a website!
...Don't worry. We are almost there!
So far you have studied the market and made assumptions. Now it's time to create ads before even knowing the website you may source the product from.
So follow these steps.
Create a Tik Tok Account (Business)
Create an Instagram Account (Business)
Create a Youtube Account (Optional)
Create a Facebook Account (Optional)
Set about $50-$100 for Facebook Ads Test
Now it's time to create shorts to promote the products you don't have.
Why? Because you want to see if people view, comment, share, and click.
Also, you want to test different ads and see what resonates the most with your audience.
To do so, you can use the following FREE websites
Godaddy is a domain registrar and web hosting company that allows dropshippers to easily set up a website for their business.
By providing reliable and affordable website hosting, Godaddy makes it easy for dropshippers to establish a professional online presence and reach a global audience. (if you are on a super tiny budget, just buy a domain for 1 cent and get things going. Otherwise, break the bank and spend $9! Read more here)
Wix is a website builder that provides a user-friendly platform for dropshippers to create an online store. With its drag-and-drop interface and customizable templates, Wix makes it simple for dropshippers to create an attractive and functional website without any prior coding experience.
IMPORTANT: In this startup phase of the validation idea, you don't need a complex website. You can just create a 1 pager website using one of the Wix templates, with a convincing landing page that conveys emotions and a BUY NOW button.
Then, you can simply create a 404 page where you state that the product is out of stock or there is a broken link.
This way you can create a funnel and test a product way before finding suppliers, subscribing to services and so on.
It's actually a very old school approach that, like the good old school things, never goes out of style!
Let me repeat.
1. You search for demand
2. You select a product that you think may sell
3. You create a landing page
4. You create fake product ads
5. You show it to people and see what they do
At $0 cost. This is what Daymond John Calls "The Power of Broke", a very important skills for entrepreneurs.
If you don't have this skill, don't worry. Losing money will help you develop it...the hard way!
This is much better than setting up everything before doing the market research part!
Jasper is a deep learning model that is trained on vast amounts of text data to generate human-like responses to a wide range of prompts. The latest version of the model, is one of the largest language models to date and has the ability to generate human-like text, perform simple arithmetic, translate languages, answer questions, and much more. It has been used in a variety of applications, including chatbots, customer service, content creation, and more.
In this example, I am using Jasper to create ads. I didn't even elaborate the prompts too much, and Jasper is able to give me amazing headlines, hashtags, emojis, ready to be copy-pasted as ad copies.
Moreover, Jasper has more than 60 built in templates including the AIDA Model (Attention-Interest-Desire-Action)
The goal of Jasper is to enable more natural and efficient human-computer interaction by making it easier for computers to understand and generate human-like language. With Jasper you can create:
Product descriptions and specifications
Landing pages with compelling product features and benefits
Advertisements that target potential customers effectively
Blog posts that educate and engage potential customers
Social media posts that create brand awareness and drive sales
Email newsletters that keep customers informed and engaged
Product videos that showcase features and benefits
Customer reviews and testimonials
Frequently Asked Questions (FAQs)
Upsell and cross-sell suggestions.
Not only that! With tools like Jasper the sky is really the limit! You can use Jasper to learn more about your clients, educate yourself and learn things you didn't even know! Just ask Jasper questions like if he was your VA. The only difference is that Jasper never sleeps and he read 10% of the internet...so...chances are he knows about your niche!
Here is a 10 minutes Jasper Official Walkthrough where you can see Jasper's amazing features.
Jasper offers a FREE trial with 10,000 Words included. So you can use it to understand your market and create compelling copies and blog posts that rank on Google , even if you have 0 experience.
Placeit is a design tool that helps dropshippers create professional-looking product mockups, logos, and other graphics. By providing a library of templates and design elements, Placeit makes it easy for dropshippers to create eye-catching marketing materials that attract and convert customers.
Veed.io is a video editing tool that allows dropshippers to create engaging product demos, tutorials, and other types of marketing videos. By providing an intuitive, cloud-based platform, Veed.io makes it simple for dropshippers to create high-quality video content that helps to promote their products and increase conversions.
Pictory is an online AI-powered Text to Video platform that enables businesses to create and share visually engaging content with their customers. With its ability to create high-quality product images and videos, Pictory helps dropshippers to effectively communicate the value of their products and build a loyal customer base. With Pictory, dropshippers have the tools they need to create a strong and memorable online brand, build trust with customers, and grow their business over time.
Adcreative.ai is among the apps who are part of the future of advertising. With advanced algorithms and machine learning techniques, AI can analyze vast amounts of data and produce highly personalized, effective ad campaigns. By leveraging AI, you can create ads and product variations in seconds that are optimized for all platforms. You can stay ahead of the competition and create truly impactful ad experiences that resonate with their audience.
Also, you have $500 worth of Google Ads when you subscribe to the paid plan. So, if you manage to create a successful dropshipping business...give it a try! It will save you a ton of time!
If you want a more detailed explanation on how to set things up in record time, by skipping all the unnecessary steps and validating your business ideas fast, make sure you read my last blog post where I showed how you can leverage AI to setup an AI writing business in 2 days with less than 9 USD.
Perfect! By now you should have
An idea of the products that people want
An idea of the market and what they want
An idea of the ads, the songs and the hashtags that are trending
4. A website (1 cent)
5. Apps to create mockups, static videos & shorts in minutes!
And you only spend 1 cent for your website (+taxes)!
Now it's the time to test. Go ahead and create compelling ads, just put them in front of people and see how much they click, how often they click and what are your CTR and CVR.
Most of all, get in the mindset of researching the market and testing your ideas with the lowest investment possible, minimize your risk and validate your concepts!
Is dropshipping good for beginners?
Dropshipping can be a good option for beginners because it requires a low initial investment and minimal overhead. However, it requires a good understanding of marketing and customer acquisition to be successful.
Can dropshipping make you rich?
Dropshipping, like any other business, has the potential to make you rich if done correctly. It requires hard work, determination, and a good understanding of marketing and customer acquisition.
Is Amazon a dropshipping company?
No, Amazon is not a dropshipping company. Amazon is an e-commerce platform that allows individuals and businesses to sell products directly to customers.
How much do beginner dropshippers make?
The amount a beginner dropshipper makes depends on various factors like the niche, marketing strategies, and the amount of time and effort put into the business. It's possible to make anywhere from a few hundred to several thousand dollars a month.
What are the disadvantages of dropshipping?
Margins can be low: Dropshipping margins can be low, which means you may not make much profit from each sale.
Lack of control over inventory: Since you're not physically holding the products, you have no control over the inventory and may face stock issues.
Shipping times: Shipping times can be longer, which can result in dissatisfied customers.
Competition: The market can be highly competitive, making it difficult to stand out.
How much does Amazon dropshipping cost?
The cost of Amazon dropshipping varies depending on the products you're selling and the platform you're using to sell. There is a monthly fee to use Amazon's selling platform and you'll also need to factor in advertising costs, fulfillment fees, and other expenses.
Which country is best for dropshipping?
The best country for dropshipping depends on your target audience. If your target audience is in the US, it may be best to work with a supplier in the US. However, if you're targeting customers in other countries, you may find better pricing by working with a supplier in that region.
How do I find a dropshipping supplier?
There are a number of ways to find dropshipping suppliers. You can search online directories like SaleHoo, Wholesale Central, and Doba, attend trade shows, use product sourcing platforms like AliExpress and Oberlo, or reach out to manufacturers directly.
Is dropshipping worth it 2023?
Dropshipping can be a lucrative business model if done correctly, but it's important to do thorough research, validate your product idea, and find a reliable supplier. It is worth considering, but it's not a guarantee of success.
How many hours do dropshippers work? The number of hours a dropshipper works can vary, but it's common to work anywhere from 10-20 hours a week. The amount of time you spend will depend on how much effort you put into growing your business and how quickly you want to see results.
How do dropshippers get paid?
Dropshippers get paid by their customers for the products they sell. The payment is usually processed through the e-commerce platform they use, such as Shopify, WooCommerce, or Magento. The profit is the difference between the price they sell the product for and the cost they pay to the supplier.
That's all for today guys!
Let me know what you think in the comments!
Get started with Market Researches today and unleash your entrepreneurial potential!
To learn more about the future of AI and how to make money with AI, you can read our last blog post about Writing AI, with 80 tools to automate your social media marketing!