Videos uploaded by user “Wholesale Ted”
How to Launch Your First Amazon FBA Product: 6 Hacks to a Home-Run Success (w/ Daniel Audunsson)
How to launch your first Amazon FBA product + 6 hacks to make it a home-run success. ►► How to Make $10,000/Month Online: http://wholesaleted.com/4-step There are 2 secrets that you need to know to launch your first Amazon FBA product and make it a home-run success even if it’s your first product. And these 2 secrets are… 1) Sales Velocity 2) Conversions These are the 2 key factors the Amazon algorithm uses when choosing which products will sit at the top of their search results (the search engine accounts for 90% of sales on Amazon). Here is what you need to do to launch your first Amazon FBA product and make it a home-run success (even if it’s your first product): You need to match (or ideally improve on) the sales velocity & conversions of your top competitor for 2 weeks. If you do this… then your item will soar to the top of the search results - and YOU’LL start making all of the organic sales for your product! Hack #1 to launch your first Amazon FBA private label product & make initial sales: Use product giveaways Product giveaways for your Amazon FBA private label product are one of the most powerful strategies at your disposal for massively increasing your sales velocity & conversions. You can’t give products away for free but you can give people a heavily discounted coupon that lets them buy it for just 99 cents, which means you are basically giving it away for free. And this is simple: Sign up for a service like JumpSend or ZonBlast. These services have a huge membership base of people that are keen to purchase heavily discounted items on Amazon. They will then distribute your coupon to it’s members. Not only will this drastically increase your sales, but the conversions will be high: You can expect around 50%. Hack #2 to launch your first Amazon FBA private label product & make initial sales: Lower the price If your item starts getting sales (product giveaways are of course a great way to do this) and traction, you can then attract more sales from simply lowering the price below your competition for a week or two. If your product is already ranked in the top few results and you want to climb to the top, this strategy alone can be enough. Hack #3 to launch your first Amazon FBA private label product & make initial sales: Use SuperURLs When someone clicks on your product listing after finding it using the Amazon search engine, they enter using a SuperURL: It’s a URL containing tracking information that tells the Amazon algorithm that they arrived at your listing through finding it using the search engine. You can give people this URL instead of your usual product URL to trick the algorithm into thinking that people found (and bought your item) through finding it using the search engine. Be aware though, this is a controversial method. Experts like Daniel recommend only pushing through a maximum of 20% of your sales this way. Hack #4 to launch your first Amazon FBA private label product & make initial sales: Use paid advertising You can place paid ads in the Amazon search engine for your item, targeting specific keywords. When someone buys a product through clicking on it, not only will this increase your sales velocity - but it’ll help your product rank organically for that keyword as well. Hack #5 to launch your first Amazon FBA private label product & make initial sales: Increase the conversions on your listing & get reviews It’s not enough to get the initial sales & conversions from drastically lowering your price: You need to have a high-converting listing so that when you reach the top of the search results you’ll keep making more sales than your competitor, otherwise the Amazon algorithm will drop you in the results. Here are some tips for increasing your conversions on your listing: * Have the maximum number of HD photos that are big enough the customer can zoom in on them. * Have a keyword rich product title. * Have multiple bullet points with excellent copy. * Have a descriptive product description that has photos included in it. Be sure to email and follow up with your customers, asking them to leave an honest review. If you do this, you can increase the rate of people leaving a review to as high as 10-15% (compared to less than 5%). Hack #6 to launch your first Amazon FBA private label product & make initial sales: Use Amazon Marketing Services Amazon Market Services (AMS) is an advertising platform that you need to be specially approved for. When you are approved it lets you advertise on lots of pages on Amazon, such as your competitor’s pages. Because it requires pre-approval, most of your competition won’t be using it. So you can use this to place ads in larger amounts than 99% of your competitors and outsell them.
Views: 172419 Wholesale Ted
8 Things to Do BEFORE You Start Selling on Amazon (Tips for New Amazon Sellers)
Learn the 8 things to do BEFORE you start selling on Amazon & create an Amazon store. ►► How to Make 10k/Month Online ebook: http://wholesaleted.com/4-step ***VIDEOS REFERENCED*** How to Create an Amazon Account: https://www.youtube.com/watch?v=fZjFjJNWLis How to Start an Aliexpress Dropshipping Store with No Money: https://www.youtube.com/watch?v=2CWrd2gdTIs Amazon Restricted Categories: https://www.youtube.com/watch?v=y3Idp0CuKSg First thing to do BEFORE you start selling on Amazon: Get an Amazon Pro Merchant Account Why? Because having an Amazon Pro Merchant Account is a necessary prerequisite to winning the Buy Box. Winning this is crucial as a new seller for two reasons: 1) About 80% of sales are made using the Buy Box - so not winning this means you miss out on crucial sales opportunities. 2) When you are the featured seller in the Buy Box the number of reviews you have are not featured, so it means that new sellers won’t be discriminated against for having little-to-no reviews by buyers. Even though it costs money compared to opening a free seller account, I strongly recommend it because you’ll make more money with one. Second thing to do BEFORE you start selling on Amazon: Have the documents ready when applying for an Amazon account When creating an Amazon account, you will need the following documents: 1) Photos of a national ID (like a passport or a drivers license). 2) A bank statement with your address on it. So before you start an account, take photos and download your latest bank statement and upload these documents when Amazon asks for them. Third thing to do BEFORE you start selling on Amazon: Act fast - DON’T wait! Amazon is regularly changing their requirements. For example… * In 2014 they changed Personal Care into a restricted category. * In 2016 they made it so new FBA sellers couldn’t send in their first shipment during the 4th quarter. * And in 2017, they changed it so you need to upload proof of ID documents during the account creation process. The sooner you get started, the easier it’ll be. Fourth thing to do BEFORE you start selling on Amazon: Pick your Amazon business model There are several types of business models to pursue when opening your Amazon store (private labeling, wholesale selling, dropshipping & retail arbitrage). Before you open your Amazon business, you need to pick the right one that meets your skillset and access to resources. For example, private labeling has the advantage of being very hands-off. But it requires a large upfront investment. While a dropshipping business takes more time to manage, but it requires a lot less money to get started. Weigh up the pros & cons. Fifth thing to do BEFORE you start selling on Amazon: Get a credit card (or a debit card) When you sell on Amazon you need to pay selling fees. To pay these, Amazon requires you have either a credit card or a debit card. You cannot use a Payoneer card or a prepaid debit card. If you don’t have this, then consider opening an Aliexpress dropshipping store on your own website. Sixth thing to do BEFORE you start selling on Amazon: Figure out a plan to manage your cash flow Don’t be afraid by the word “cash flow.” All we mean is that you need to have a plan for how you are going to pay for the items you are going to sell. Why? Because Amazon holds your money for 2 weeks as a new seller. This means: 1) If you’re dropshipping, you need to have money to use in the meantime to order the items the customer has purchased. 2) If you’re private labeling, it’s prudent to have money set aside to replace inventory if your product gets super-successful super-fast. While you could save up hundreds to thousands of dollars, the easiest way to manage this is with a credit card. If you don’t have a credit card then I recommend working on your credit score and making it a priority to get one. Seventh thing to do BEFORE you start selling on Amazon: Check if the category you want to sell in is restricted Some item categories on Amazon are unrestricted (ungated categories) and you can sell in them without submitting an application (e.g. home & gardening). But some categories are restricted (gated categories). Some categories are very easy to get unrestricted in (like clothing & accessories) but some are more difficult (e.g. food & grocery). Be sure to check before getting started. Eighth thing to do BEFORE you start selling on Amazon: Set aside time each day/week to manage/grow your Amazon business. Make sure you set aside time each day to fulfill orders & answer emails/questions. And set aside time each week to grow your business. For many this will be working on weekends. Doing this can be challenging: But it’s a right of passage that most business owners go through. So don’t get discouraged: The rewards are well worth it!
Views: 325972 Wholesale Ted
3 Things Gurus DON'T TELL YOU About Aliexpress Dropshipping...
We reveal what the “gurus” don’t tell you about dropshipping with Aliexpress… ►► Free $10,000/Month ebook: http://wholesaleted.com/4-step ►► Why Long Shipping Times Don’t Matter: https://www.youtube.com/watch?v=sBuiN-CVxE4 So yes… it’s lots of fun to talk about the fancy things we’ve bought with dropshipping money (sports cars, fancy vacations) but it’s a lot less fun to talk about things like… * Getting banned on PayPal * Chargebacks * And refunds. Luckily, all of these things have simple solutions and can be avoided - as long as you know what to do in-advance. Here is how to overcome these obstacles when creating your Aliexpress dropshipping store. #1: How to Not Get Banned on PayPal Everyone has heard the horror stories of people having their PayPal accounts banned and losing tens of thousands of dollars. It’s key when dropshipping to avoid having your PayPal account being banned. A lot of people say that PayPal “doesn’t like dropshipping” - but this simply isn’t true. What PayPal doesn’t like is it’s customers being lied to or tricked to. And we regularly see new dropshippers being shady when it comes to one thing in particular… the long shipping times. New dropshippers assume that they’ll need to not be honest when it comes to the shipping times to make sales. But this isn’t true. Long shipping times don’t affect conversion rates as much as you’d think - what they do affect is how much customer support you need to provide. It is very important that you are upfront with customers and set their expectations clearly in the beginning, because this is the biggest reason for PayPal disputes - and it is PayPal disputes that will get your account frozen and banned. Here is what we recommend you do to be upfront about the long shipping times: 1) Add a disclaimer that shipping will take 2-4 weeks in the product page, and BOLD it. 2) Add a disclaimer in the customer confirmation email. Be clear it will be 2-4 weeks before it arrives and to please be patient. Being honest is the key to winning PayPal disputes. Losing disputes is how your account will be banned, and your money frozen. #2: How to Avoid Getting Chargebacks Credit card companies allow customers to do a chargeback if they have been the victim of a fraudulent transaction. If you are shown to have fraudulently charged them, that is very serious. There are two main reasons that customers claim chargebacks on Aliexpress dropshipping stores: 1) They don’t recognize the transaction on their credit card statement. 2) They are unhappy about something - usually the long shipping times. The first is very easy to avoid. If you are using Shopify, when setting up Shopify Payments, make sure you have the name of your store in the Statement Descriptor box. The second is trickier. Again, you’ll get a LOT less chargebacks if you are upfront and honest with the customer about them. Be sure to set the expectation up front. But no matter what - any business that is dealing with credit cards should be expecting chargebacks. That is another reason why it’s very important to be upfront with the customer from the beginning with shipping times. If you were upfront, then you should easily win as you can provide proof they knew what they were purchasing: * You can link them to your product page with your clear disclaimer. * You can provide screenshots of the page with the disclaimer. * You can send a copy of the customer confirmation email, outlining shipping times. In addition, if you use ePacket as your shipping option (which we strongly recommend) you’ll have a tracking number you can provide to show the package is on-route to the customer. But no matter what, chargebacks are a paid. So there is something else I strongly recommend that you do… You encourage communication between you and the customer. In your follow-up emails, stress that if they are having any problems, to please contact you immediately. This way, you talk to and calm any upset customers before they attempt to do a PayPal dispute or a chargeback. #3: How to Handle Refunds when Aliexpress Dropshipping We strongly recommend that you have a strict refund policy in place that only allows refunds for items that are faulty or broken. Do not allow refunds for people that have simply changed their minds. In addition, protect yourself by creating a page that has your refund policy on it, and link to it in the store footer. That way, it will be on every page in your store so customers don’t have an excuse for not having read it. Remember: there are solutions to every challenge and every stumbling block. With research and common sense, you can overcome anything. Successful, rich individuals see these challenges as opportunities. What will you choose to see them as?
Views: 318462 Wholesale Ted
Shopify vs Woocommerce in 2017 (Which One is Better for you?)
Which is better: Shopify vs. Woocommerce (in 2017)? Find out which one you should use. ►► Get our free 10k/month ebook: http://wholesaleted.com/4-step ►► Get a shopify 14-day trial: http://wholesaleted.com/go/shopify Please note: this description contains affiliate links In this video, Sarah from Wholesale Ted discusses which is better for 2017: Shopify or Woocommerce? To do this, she asks three questions. ***Links referenced in this video*** How to Create a Shopify Dropshipping Store: https://www.youtube.com/watch?v=IakKkA_DWdQ How to Create an Ecommerce Store (with Woocommerce): https://www.youtube.com/watch?v=vQzy6rtGs3Q How to Dropship from Aliexpress: https://www.youtube.com/watch?v=2CWrd2gdTIs How to Start a Business with No Money: https://www.youtube.com/watch?v=17X6gnJT2II Question #1: What is your budget? When choosing between Shopify vs. Woocommerce, you need to consider what your budget is, and whether you can afford Shopify, because it is going to cost you more money to open a Shopify store than it will to open a Woocommerce store. Shopify has 3 plans: * Basic Shopify which costs $29/month * Shopify which costs $79/month * Advanced Shopify which costs $299/month For most people, the $29/month plan is perfect and you don’t need a different one. You can purchase a domain name from Shopify for $13/year. On the other hand, Woocommerce is a FREE plugin which you use in-conjunction with a FREE open-source software called Wordpress. It’s not entirely free because you will still need to buy web hosting and a domain name (and if you want to host a payment gateway on your domain, then you’ll need to buy an SSL certificate). For many people, they’ll already have web hosting, making this an attractive, low-cost option as all you’ll need to buy is the domain name. Even if you don’t have web hosting, you call still get web hosting for $36/year with iPage (http://wholesaleted.com/go/ipage) which works out to be much cheaper than Shopify. Not only is it cheaper to purchase web hosting and install Woocommerce/Wordpress, but you can also host multiple stores on the same web hosting, whereas with Shopify you can only host 1 store with each monthly plan. If you want to host multiple stores, it will be substantially cheaper to use Woocommerce. If money is an important consideration for you, then when it comes to Shopify vs. Woocommerce, it is Woocommerce that comes out on top. Question #2: How much time do you have to spend? When it comes to Shopify vs. Woocommerce for time commitment, you’re going to find that you’ll spend less time with Shopify than you will with Woocommerce. That is because Shopify is much easier to navigate. Our video which teaches how to create a Shopify store took less than 40 minutes - whereas our video in which we teach how to create a Woocommerce store took 69 minutes! Shopify is very beginner-friendly and it has a simplified menu system. It makes it less flexible for developers, but the streamlined menu means that beginners are going to run into less problems. Plus, Shopify also include 24/7 support, which includes phone and livechat. When it comes to business, including the dropshipping business, time is money. Time is a scarcer resource. The faster you get up and running, then the faster you will start earning money. If time is important for you, then you should consider using Shopify. Question #3: What is your marketing strategy? When discussing the question of Shopify vs. Woocommerce, the final thing you need to ask yourself is how you plan to generate traffic. If you plan on using paid advertising (such as Google Adwords or Facebook ads) then both Shopify and Woocommerce are great choices. If you plan on using social traffic (such as Facebook fan pages and Instagram accounts) then again both Shopify and Woocommerce are great choices. But if you plan on using SEO (search engine optimization) then you might want to consider Woocommerce, as Woocommerce uses Wordpress, which is very well optimized for the Google search engine, which will make it easier to rank for keywords. So remember, when choosing between Shopify vs. Woocommerce, ask yourself these 3 questions: 1. What is your budget? 2. How much time do you have? 3. What is your traffic/marketing strategy? Which one will you choose? Let us know in the comments section below! ***Please note, there are affiliate links in this video/description***
Views: 87361 Wholesale Ted
10 Things to Do BEFORE Dropshipping (AVOID Beginner Mistakes)
Do these 10 things BEFORE you start dropshipping so that you don’t lose money! ►► Free $10,000/Month ebook: http://wholesaleted.com/4-step ►► Join The Dropship Club now: https://thedropshipclub.com ***OTHER LINKS REFERENCED IN THE VIDEO*** ►► Why Long Shipping Times Don’t Matter: https://youtu.be/sBuiN-CVxE4 ►► 3 Ways to LOSE Money When Dropshipping: https://youtu.be/CcU95ItZwto ►► How to Pick Products: https://youtu.be/fKSalHjKhjc #1: Check Shipping Times BEFORE Choosing Which Countries to Sell To. A lot of beginners put “worldwide” shipping on their product listings and ship anywhere because they know that most Aliexpress sellers will ship worldwide. But this doesn’t mean as a beginners that you should do that. Why? Well, because some countries are problematic to ship to. For example - shipping to the UK takes a long time. It will take 20-40 days for an item to arrive. Compare that to ePacket shipping to the USA which is 10-20 days. We strongly recommend as a beginner focusing on countries with shorter shipping times of 2-3 weeks, as this will cause less customer support issues. #2: Create Your Own Store When Dropshipping. DON’T Dropship on eBay or Amazon. A lot of beginners want to do Aliexpress dropshipping on eBay or Amazon because then they can save money and not have to set up a Shopify or Woocommerce store. However, we recommend that you don’t do this as pricing competition is fierce on those websites. Spend the extra money upfront to sell in your own store. #3: Set Up an LLC (Company) A very common question we get asked at Wholesale Ted is whether you NEED to open an LLC before starting a dropshipping store. The answer is that no, you don’t need to. You can sell without any legal paperwork. If you do this, you are by default a sole proprietor. HOWEVER, while you don’t NEED to, it is a good idea to. By setting up an LLC you protect yourself legally in case you get sued. This is especially important for people that live in the USA. But as it costs money to set up an LLC, not everyone will be able to afford this. If you can’t afford it, don’t let it stop you. It is optional. #4: Make Shipping Times VERY Clear We recommend that you add a shipping disclaimer (that the item will take 2-4 weeks to arrive) in the following places: 1) On the product page description (bold this). 2) On the checkout page. 3) In the purchase confirmation email. #5: Create a Strong Refund Policy Page Set up a refund policy page and note in it that you only accept returns for faulty/broken products. It is also industry standard to require customers ship the item back to you for a refund at their own expense. Include a link to this page in the footer of your store. #6: Set Up a Follow-Up Email Sequence Don’t just use customer’s emails for promoting products to them in newsletters: use this to keep the customer happy while they are waiting for the items to arrive. Send 3-4 follow-up emails over this period. In them do the following things: 1) Remind them about the shipping times of 2-4 weeks that they agreed to when they purchased the item from you. 2) Tell them that if they are having any issues they can always email you. 3) Remind them that they can track their order online, and give them a link to how they can do this. #7: Run a Like Campaign to Your Facebook Fanpage Before you run ads, set up a like campaign and get a few hundred likes to your store’s Facebook fanpage to add authority. #8: Add 20 Products to Your Store BEFORE Testing Products Do not get impatient and only add a few products to your store before running ads. This will make your store look illegitimate and you will create mistrust between you and your potential customers as it makes your store look half-finished. Make sure you add lots of products before running ads/tests. #9: Have Either a Credit Card Or Money Set Aside to Purchase Items Customers Buy When a customer buys an item from you, you will not get that money instantly. PayPal often holds money for up to 3 weeks. And Stripe pays out money weekly. So you need to make sure you have money set aside on a debit card, or have a credit card to purchase items the customer buys from you while you’re waiting for your money to clear. #10: Be Prepared to Spend Money to Make Money If you plan on running paid Facebook ads, then be prepared to test a lot of products. Don’t run a few tests and then give up if they don’t make you money immediately. Set aside a budget of a few hundred dollars and be willing to spend that while running lots of tests to find your winning products.
Views: 190301 Wholesale Ted
How to Not Get SUED When Dropshipping (w/ Aliexpress & Shopify)
Afraid of getting sued when dropshipping? Watch this video! ►► FREE - How to Make $10,000/Month: http://wholesaleted.com/4-step ►► How to Dropship from Aliexpress: https://youtu.be/2CWrd2gdTIs PLEASE NOTE: We are not lawyers, and this is not legal advice. For legal advice, please contact a lawyer. Question 1: Will you get sued if you use product images from Aliexpress suppliers? The answer to this is almost certainly no. In China, the culture around copyright is very different to the western world. In China, the culture around copyright is that if something can be easily copied and can benefit others, then that is more important than protecting the rights of a single individual. It is a cultural difference. As a result, it’s very easy to get away with piracy in China, which is why pirated movies/music/games are sold freely on the streets. In fact, Chinese manufacturers copy each other all the time. Not only do they produce the same products, they steal images from each other. If you go to Aliexpress you will see that different manufacturers are producing the same items, and they are using the same images. As a result, it is extremely unlikely that any Aliexpress supplier would try to pursue you in court for any copyright issues. If they were going to sue anyone - it would be the manufacturers that are copying them - although due to the cultural differences, that is also extremely unlikely. If you’re still worried, you can contact the Aliexpress suppliers and ask them if they are OK with you reusing their images. Question 2: How Can I Avoid Being Sued for Copyright Images? They might not care in China if you copy images - but in the west, they sure do! Even if your website is not making any money, you can still be pursued legally and sued for using images without permission - so it’s very important that you don’t use copyrighted images on your website! A good place to find images you can use is with Google Images: 1) Go to Google Images 2) Click settings. 3) Click advanced search. 4) Type in what you’re searching for. 5) Scroll down to usage rights. Select “free to use, share or modify, even commercially.” 6) Click search. You’ll be surprised at how many images you’re allowed to use! So don’t get lazy and use images that are copyrighted. Use Google to find free images you’re allowed to use. Question 3: Can I Sell Aliexpress Products that are Trademarked? No - do NOT sell products that are trademarked. For example, in the video, Sarah compares two items - one that is a generic self-stir mug, and one that is a self-stir mug with Harry Potter imagery on it. Do NOT sell the Harry Potter mug, as it is illegal. If you sell products with trademarks, you aren’t just risking getting sued - you’re risking having legal action taken against you.
Views: 134463 Wholesale Ted
5 Mistakes New Importers Make When Importing Products from China
Discover the 5 mistakes new importers make when they are importing products from China. Don’t make the same mistakes! Get our free ebook: http://wholesaleted.com/4-step Freightos: http://wholesaleted.com/go/freightos First mistake importers make when importing products from China: Assuming that shipping by sea will be the cheapest option A lot of new importers think they will save money if they ship by sea rather than air. On the surface it seems cheaper as importers usually pay around 60 cents/KG when shipping via sea, compared to the $7/KG when shipping by air courier. Unfortunately what they don’t realize is that the reason it’s that cheap is because when shipping via sea, you ship via container, and you need to rent an entire container. They are very large and require you to be shipping hundreds of KGs to be making it worth your time. If you are an Amazon private label seller, you are unlikely to have enough stock being shipped to fill a container by at least 60-70% so it will be cheaper to ship by air. When shipping by air, you have two options: 1) Air freight 2) Air courier Air courier is when you have your items shipped door-to-door. It is the easiest but the most expensive per KG (although in smaller quantities it is cheaper). Air freight is when you have your items flown from one airport to the other. You will need to organize other additional services: * Having the items delivered to the airport * A customs broker * Having the items delivered from the airport to the final location. There are a lot of fixed fees with this which means it becomes cheaper to use air freight with larger quantities. To figure out which option will be cheaper for you, I recommend using Freightos. Second mistake importers make when importing products from China: Not using the Metric system In China, they use the Metric system and not the Imperial system. So be sure to use KGs instead of lbs and CM instead of inches. It’s important to remember that when working with Chinese suppliers that they expect you to work on their terms and their timeframes. It can be frustrating, but it’s worth it for the cheap Chinese products you import! Third mistake importers make when importing products from China: Using Less than Container Load for shipping When shipping by sea, you have two options: 1) FCL which stands for Full Container Load 2) LCL which stands for Less than Container Load Inexperienced importers fall for the trap of shipping with LCL because they see that the price are extremely cheap. What they don’t realize is that these LCL companies have special deals with the ports to charge you extremely high Destination Service Charges. The LCL companies then make their money in the form of a “rebate” which is essentially commissions/kickbacks. Destination Service Charges are usually priced per-container and cost between $500-$1000 per container for ports in the USA. But when shipping by LCL you end up paying a high fee per cubic meters. It means that you often end up paying a fee comparable to shipping an entire container. Don’t fall for this trap: If you can’t break even with FCL, then ship by air. Fourth mistake importers make when importing products from China: not calculating the correct duties you will need to pay When you import products from China, you will need to pay duties at the border. If you don’t calculate the correct rate you can get a shock if it comes back as more than you expected. Duties can be a bit complicated to work out because there are a lot of variables. For example, if you imported woolen jackets, you need to consider which country the wool came from, as some countries (like Israel) have duty-free agreements over wool, which would reduce the duties you had to pay. On the other hand if synthetic fibres were used instead of pure wool, then your duty rates would be higher since there are higher duties applied to synthetic fibres within the USA. To figure out what your duty rate is, find out what the HTS (Harmonized Tax System) code is for your item. To find this, ask your Chinese supplier as they will most likely know. You can then go through the HTS manual and find what the duty rate is for the HTS code of your products. Fifth mistake importers make when importing products from China: being afraid to make mistakes And finally - don’t be afraid to make mistakes. Through making mistakes you learn how to overcome them the next time and make even more money. Mistakes are apart of entrepreneurship. Learn from others - and learn from your own as well!
Views: 248011 Wholesale Ted
How Much Money Do You Need to Start Dropshipping? ($100? $500? $1000? $3000?!)
We answer the question: how much do you REALLY need to start dropshipping with Aliexpress? ►► Free $10,000/Month ebook: http://wholesaleted.com/4-step ►► Step-By-Step Dropshipping course: http://wholesaleted.com/go/dropshipclub ***OTHER LINKS/VIDEOS REFERENCED*** ►► Start Dropshipping with $50: https://youtu.be/ZY4HQKhRfpo ►► How to Create a Shopify Store: https://youtu.be/bXczHKgPdrw ►► 8 Side Hustles: https://youtu.be/GI6mW1wyol4 ►► Free Logo Maker: http://wholesaleted.com/go/freelogo ►► How to Pick Products with Fred Lam: https://youtu.be/fKSalHjKhjc?t=13s When dropshipping, you have 3 major costs/expenses/things to budget for: 1) Setting up your store. 2) Marketing your store and testing products. 3) Purchasing the products that customers buy. ***How Much Does it Cost to Create a Store?*** Most viewers watching this video will be looking to build their store with Shopify. That means it will cost $29/month for the subscription, and then $14 for the domain name. That means you need just $43 up front. However, there are two optional costs that are good to consider: 1) Purchasing a logo from Fiverr for $5.50 To build your store, you will need a logo. You can make a logo for free using a free logo maker. But a professionally designed logo will look a lot nicer in your store. For such a low cost, it is well worth it if you can afford it. 2) Purchasing an Upsell Shopify Plugin for $47/month The SMAR7 Bundle Upsell is very beginner friendly. But it’s also more expensive than a Shopify subscription! UGH! However, once you stumble upon a winning product, putting upsells on top of it will more than pay back the cost of this plugin. So what you can do is you can leave this off your buy-list and purchase it once you’ve found your winning product. You can then install this app and then put an upsell on top of your winning product. You don’t need to buy it up-front. ***How Much Does it Cost to Market & Test Products?*** While you can use free traffic sources, they are slow. To take advantage of paid traffic, it is going to cost you money. In this video, we discuss Facebook ads. We recommend being prepared to test at least 20 products. When we say “test products” with Facebook ads, we mean adding a product to your store, and then running a small ad for it on Facebook promoting it. If the ad is profitable, you scale that item up and it becomes a “winner.” If it loses you money, then you kill the ad and test something new. To run ads, I normally recommend starting with a $5/day budget and running it for 4 days. That means that each test will cost $20/product. So to test 20 products, it is going to cost $400. Along the way it is very likely you’ll make some sales of products even if they turn out to be “losers” - but it’s good to budget for this just in-case. If this is quite a lot of money (we understand!) here are some tips for you: 1) Plan to split it up over 2-3 months. You don’t need to run all of the 20 product test at once: you can do it gradually at your own pace. 2) Use side hustles to save up the extra cash. It will definitely be work - but it is well worth it. There are ways to pick up jobs from home and to save up this money to reinvest into a business. ***How Much Does it Cost to Buy Products Customers Purchase?*** Something that a lot of people don’t talk about when discussing this question is the cost to purchase items that customers buy. If you spend all of your startup money on marketing & setup costs, then you’ll have nothing left to purchase the products customers buy. And if this happens - your business is sunk! Unfortunately, money that customers pay you will not be send to you instantly. Stripe pays out every 7 days, and PayPal is likely to hold your money for 3 weeks (potentially more) until they trust you. This means you’ll need to have money prepared in the meantime to pay for items until the money the customers paid you has cleared. One of the most common reasons new businesses fail is due to cash-flow issues. If you don’t want to be part of that statistic, then make sure you prepare in-advance by doing one of the following: 1) Have a credit card. You will get the money the customers paid you well in-advance of when your payment will be due on it. Plus you’ll get bonuses too (such as free air miles and cash back rewards to offset fees). 2) Have a debit card with $200-300 on it prepared in-advance to purchase the items from Aliexpress.
Views: 105134 Wholesale Ted
6 Facebook Ad Tips for Aliexpress Dropshipping Stores (w/ Fred Lam)
Watch to learn how 6 Facebook ad tips when promoting Aliexpress dropshipping stores. Get our free ebook - How to Make $10,000/Month with Dropshipping: http://wholesaleted.com/4-step ***OTHER LINKS DISCUSSED IN THIS VIDEO*** * 10 Tips for Dropshipping w/ Fred Lam: https://www.youtube.com/watch?v=tEG5Ls-Rgxw * How to Create a Shopify Store: https://www.youtube.com/watch?v=IakKkA_DWdQ * Fred Lam’s YouTube channel: https://www.youtube.com/channel/UC-ExnmYdw61X-LLLePbUFPA/videos #1 Of Our Facebook Ad Tips: Spy on Your Competitor Ads for Free Using the Search Bar One of the easiest ways to see if a product has potential is to see if your competitors are having success with it through spying on their ads. There are great paid products to help you spy on your competitors but you can do it for free using the search bar if you are on a budget. To do so, go to the search bar and type in something like this: “Posts about “free shipping “coffee cups”” You can replace “free shipping” with some other type of common offer like 50% off, and replace “coffee cups” with whatever item you are dropshipping from Aliexpress. Now Facebook will search for posts that include this text. Most likely, posts that use these types of words/phrases in them are ads, so you can go through and spy on posts that have a high engagement. Something to keep in mind is that just because a post has a lot of engagement doesn’t mean it was necessarily profitable, it just means that quite a bit of money was spent on it. Sometimes people will spend money on ads that don’t work - so it’s not a foolproof way to see, but it helps. #2 Of Our Facebook Ad Tips: Select “Product Conversion” for your Facebook Objective When doing Aliexpress dropshipping and creating your ads, you’ll be able to select and objective for your ad. This is the objective that Facebook will focus on. The only objective you should select is “conversion” - specifically, a product conversion. In addition, you can also set it up so that each of your individual products has their own product conversion pixel. If you go to this extra effort, it will help Facebook put the ad in front of the right audience specifically for that individual product. #3 Of Our Facebook Ad Tips: The Higher Your Ad Budget, the Better Quality Visitors You’ll Target On Facebook, not all users are equal. Some users engage on posts a lot, click on ads and buy things from ads shown to them on Facebook. On the other hand, some users don’t engage much, don’t click on many links and are less likely to buy things from ads they are shown on Facebook. Users that engage a lot cost more to be advertised to compared to those that don’t. When you start advertising on Facebook with a small ad budget ($3-5/day) you’ll initially have your ad shown to lower-quality users because they are cheaper and Facebook doesn’t want to blow your budget. As you scale your advertising to $40-200/day, you’ll hit higher quality users, and once you scale to $200+ day you’ll hit the most engaged users. You need to slowly scale up your campaign to hit the right user base for your ad so that you can discover what Fred likes to call the “sweet spot.” #4 Of Our Facebook Ad Tips: Don’t Get Penalized by Audience Overlap When advertising on Facebook and testing multiple products, if you use the same audience targeting for each product, you’ll risk your ads overlapping and competing with each other. If ads start to compete with each other, then the CPM will skyrocket. To avoid this, try and create unique targeting for each product you test if possible, and exclude the interests you targeted in your other ads. #5 Of Our Facebook Ad Tips: Be Aware of “Forced Likes” and “Likes by Association.” When selecting your Facebook targeting, you will encounter broad keywords like “Coffee.” Broad keywords like this will target a huge range of people, plenty of which don’t actually like coffee, because of “forced likes” and “likes by association.” For example, you may not like coffee, but you might click like on a post your friend made about drinking a great cup of coffee because you like your friend and like that they are enjoying it. Because you clicked like on a status related to coffee, you’ve now sent a signal to Facebook to include you in this broad targeting. To avoid this, look for keywords that are targeted. You can identify targeted ones by selecting long-tail keywords and keywords with lowercase letters that don’t use any uppercase letters. #6 Of Our Facebook Ad Tips: Focus on the Important Information in Your Facebook Analytics Account Inside your analytics account, Facebook gives you a lot of data, a lot of it is unhelpful. Focus on these 4 metrics when analyzing if a product is performing well and create your own custom column of data to analyze: 1) Cost per purchase (CPP) 2) Cost per click link (CPM) 3) Click through rate link (CTR) 4) Cost per miles (CPM)
Views: 84133 Wholesale Ted
What Should I Sell on eBay? Terapeak Tutorial [UPDATED 2017]
We answer: “What should I sell on eBay?” Our updated Terapeak tutorial for 2017! ►► Get your Terapeak trial: http://wholesaleted.com/go/terapeak ►► Get Ebook - How to Make $10,000/Month Online: http://wholesaleted.com/4-step Please note: this description contains affiliate links In this updated for 2017 Terapeak tutorial, we’ll answer the question that all eBay sellers ask us: “What should I sell on eBay?” By teaching you how to complete product and competitor research. Completing product research for eBay is a 3-step process: Step 1: Use the Hot Research Tool in Terapeak to help us pick a niche to sell in. Step 2: Use Amazon’s 100 Best Sellers to help us locate products to analyze. Step 3: Use Terapeak to analyze the competition and demand for a product. At the end of this process, you’ll have a list of high-demand, but low-competition products to sell on eBay. It is these types of products that we recommend people focus on when they ask us the question - “What should I sell on eBay?” Step 1: Use the Terapeak Hot Research Tool to identify a profitable niche Start by signing into your Terapeak account. You will need to have a subscription to do this. The 7-day trial will give you access to it. This is a list of niches that are currently selling the best and have the highest demand on eBay right now. Scroll through the list and look at niches that have at least a 33% success rate, and pick a niche. Look for one that will be easy to source items for. For example, in this Terapeak tutorial, Sarah points out that it’s difficult to source items in the currency/coin niche, but finding and sourcing men’s athletic shoes is easy, which makes it a good niche to focus on. Step 2: Use the Amazon 100 Best Selling List to source items to analyze When people ask us “what should I sell on eBay?” They are usually struggling because they can’t come up with a list of unique items to sell. This is because coming up with a list of products is difficult, and so they will usually think of generic items (such as t-shirts) that do not sell well because the competition is saturated. When it comes to selling on eBay, you want to be focusing on specific high-selling items, and a good strategy is to piggyback off of the Amazon 100 Best Selling Items for the category/niche you selected in step 1. Go to Amazon, and open up the 100 best selling items for the niche you selected in step 1. We will then use this list in step 3. Step 3: Use Terapeak’s Product Research tool to analyze the competition and demand When people ask the question - “What should I sell on eBay?” Our answer is always the same: Sell items that have high demand, but low seller competition. This means your items will sell fast and you’ll have excellent cash-flow! Take each item you found in step 2 and then put it into the Terapeak Product Research tool. Use the original Terapeak Product Research tool - not their updated 2.0 version. When you do that, look and see if the item meets the following criteria: * It has an average selling price that is high enough that we’ll be able to make a substantial profit per sale after eBay fees. * It has a sell-through rate higher than 33% as this indicates that we’ll be able to flip it within 3 weeks. Next, filter the results by bid auctions only, and check to see if it has a bid-auction ratio of at least 2:1. These are exactly the types of items we recommend people focus on sourcing when they wonder: “What should I sell on eBay?” Products that meet the following criteria: * High enough price to profit from after eBay fees. * Have a sell-through rate higher than 33% * Have a bid-auction ratio that is at least 2:1 Are easy to sell, high-demand but low-competition products/items! Look for these items when completing your eBay product research. ***Tips for sourcing the products you find using this Terapeak 2017 tutorial*** Now that we’ve answered the question of “what should I sell on eBay?” And shown you how to complete eBay product research, you need to actually source those items! Here are some eBay item sourcing strategies: * Craiglist: You can find both second-hand items and brand new items to sell on here. Don’t be afraid to offer a lower price and negotiate. * Thrift stores/garage sales: This is a good source of second-hand products but it is harder to find brand new items using this sourcing strategy. * Alibaba: If you locate an item that has potential for wholesale, then use Alibaba to source cheap wholesalers for the product. PLEASE NOTE: Affiliate links are in this video description.
Views: 23091 Wholesale Ted
What Tax Do I Need to Pay when Dropshipping with Aliexpress?! [UPDATED VIDEO]
Worry no more! Learn what taxes you need to pay when dropshipping with Aliexpress. ►► Free $10,000/Month ebook: http://wholesaleted.com/4-step ►► Step-By-Step Dropshipping course: http://wholesaleted.com/go/thedropshipclub ►► TaxJar: http://wholesaleted.com/go/taxjar (affiliate link) ***TWO IMPORTANT DISCLAIMERS*** * Please note: I am not an accountant. Please do NOT use my advice in-place of an accountants. I always recommend that any new entrepreneur gets their own accountant. * This video only covers your tax obligations when dropshipping to customers based in the USA, as that is what we teach on this channel (how to start a store and then target USA-based customers). QUESTION 1: What Taxes Do I Need to Pay When Dropshipping? When you are dropshipping, there are two types of taxes that you may need to pay: ***Income Tax Obligations*** Everyone is required to pay income tax (unless you live in an income tax haven). You only need to pay income tax on the profit that you made from your store, not the total revenue. You pay income tax to the country that you live in. So that means that if you live in Canada, you pay income tax to the Canadian government. The same goes for Australia - if you live in Australia, you pay income tax to the Australian government. You do not live in the USA, then you do not pay income tax to it, even though you are selling to USA citizens. If you do live in the USA then you will be required to obey both the federal and state laws regarding income tax. ***Sales Tax Obligations*** While everyone is required to pay income tax to their local country of residence, not everyone watching this video will be required to pay sales tax. In the USA, you are only required to collect and pay sales tax to a state if you have “nexus” in it. Nexus is a legal term which means that you have a sufficient physical presence in a state that you now need to collect and pay sales tax within it. In the USA, the federal government does not require you to collect and pay sales tax. It is handled by each individual state. So to be required to collect and pay sales tax within one, you need to have a sufficient physical presence in that state (nexus). This means that if you live outside of the USA in another country (such as Australia, UK, India, Canada etc) then it is very unlikely that you have nexus in any USA state. That means you are not obligated/required to collect and pay sales tax on any orders made by USA customers. If you live in the USA, then you most likely only have nexus in a single state - the state that you live in. However, if you suspect you have a physical presence in another state, for example: * You rent/own property in another state. * You have a remote employee in another state. Then I would strongly recommend going to an accountant and talk to them to find out which states you do have nexus in. Question 2: How Do I Collect & Pay Sales Tax when Dropshipping? Once you know which states you have nexus in, you now need to collect sales tax on orders made by customers with shipping addresses within it. If you are using Shopify, setting your store up to collect taxes is very simple, and we have included step-by-step instructions within this video. Something important to note is that Shopify will automatically calculate taxes for destination based states, which is very helpful. A destination based state (such as New York) requires you to collect and pay sales tax based upon where the customer you’re dropshipping to lives, not where you live (in comparison to origin based states). This can get pretty complicated since each city/district has its own taxes! For example, in New York City, the sales tax rate is 8.875%. But in the city of Buffalo, the sales tax rate is 8.75%. You need to collect and pay the right sales tax for each order. What Shopify does is it will automatically calculate the correct tax based upon where the customer is - making this super simple. I also recommend using TaxJar (which automatically syncs with Shopify) as it will generate an automated report which will make paying sales tax much easier, plus they also have an auto-file option for most states which makes filing your taxes even simpler. Got any questions about paying taxes when dropshipping? Please ask them. We aren’t qualified accountants, but we’ll do our best to answer as many as we can.
Views: 38707 Wholesale Ted
TUTORIAL: $10,000/Month with Print On Demand (By Choosing the RIGHT Designs) - Printful Tutorial
Discover why these 3 products (shirt, pillow & shoes) made over $10,000/month... ►► FREE PRINT ON DEMAND TRAINING: http://wholesaleted.com/go/printprofits ►► FREE EBOOK: http://wholesaleted.com/4-step *THE SECRET BEHIND WINNING PRODUCTS* There’s 2 tried-and-proven ways to consistently create winning products: Targeting trends Target a SUPER-HOT niche that doesn’t have many products already. The easiest way to do this is to create your own passion niche. To do this, you cross two passion niches together. For example: crossing Pugs with coffee. It’s not enough to target one niche with PoD - you need to have a clever twist to your designs. And this is what crossing two passion niches helps you achieve. Having products that speak to customers and embody THEM in a unique way that they haven’t seen before is what motivates them to BUY. *HOW TO FIND & COPY WINNING DESIGNS* Use Shutterstock to look exclusively for illustrations (these usually look the best when printed on t-shirts). Once you’ve set that, type in one passion niche e.g. Pug Dog. It can be quite difficult to cross two niches together at once, so here’s a pro tip: look up just ONE passion niche and scroll through the art people have already made and use THAT as inspiration. Using this technique, Sarah found a cross niche of Pugs and Unicorns. Next, you need to make sure the cross-niche is in demand. To do this, use Facebook’s ad targeting tool and see whether your cross niche falls within an audience of 100,000-500,000 people. Example: Target both keywords “Pug” AND “Coffee” and see how broad the audience is. If it falls under this range, there is enough demand to create a store out of. *HOW TO ADD PRODUCTS TO YOUR STORE* After you’ve found a cross-passion niche design that have good potential to test and sell, you’ll want to add them to your store. In this tutorial, we used Printful, which is free. Here are the step-by-step instructions to do this: Step 1: Download Printful from the Shopify App Store and click “Get”. Once loaded, click the “Install App” button and create an account. Step 2: Click the “Add product” button. Select the option “Choose File” and test it using a FREE sample image as shown in the video. You don’t want to go and buy a design, only to find that it looks terrible on a shirt! Step 3: Continue by clicking on the “Proceed to mock-ups” button and double check that ALL elements of the design - especially text - are visible and not too small. Then click the “proceed to description” button. Step 4: On the next page, you can update the text that’ll appear on your product listing for it. You can change the title, description and whatever else you like. When done, click the “proceed to pricing” button. Step 5: Here, you have to two options. 1) Set each individual price for each shirt. Or 2) if you’re too lazy, you can add whatever profit margin you want on top of it - e.g. 50% profit to each sale. Whichever option you pick, click Product Collections and select the right one. To finish off, click submit to store. *HOW TO SET UP PAYMENTS* When a customer actually comes in and orders it, we need to be set up to pay Printful for the order. Here’s how to do this: Step 6: On the Printful dashboard, click the “billing” button. Next, click the “Add Payment Method” button, and then select the “Save Payment Method” button. After this loads, type in your credit card number and give your billing address. Step 7: And once you’ve done that, scroll down and click Save Payment Method, and then just be a little more patient again and let Printful load. Once it has, your payment method is all set. [EXTRA TIP] *HOW TO ADD YOUR LOGO TO THE SHIPPING SLIPS ON THE PACKAGE* This helps to build a real, actual brand for your store and encourage repeat customers! Step 8: In the settings page inside the Printful app, select “Packing Slip” from the menu. Next, click “Select Image to Upload”. Find your store logo image file and open it. After a few seconds, when completely loaded - click “Save”. But remember - if you want to build a brand and have repeat, happy customers, then it’s important that you send them an awesome product. Here are some tips to do that. #1: Upload an HD image for so that your customers will love their shirt. #2: Avoid pictures that have backgrounds #3: Remember, you can print on MORE than just shirts! Did you know that you can print onto all SORTS of products? Wine glasses, blankets, clocks, even SHOWER CURTAINS! It’s not just t-shirts that sell well with Print on Demand - so don’t be afraid to get creative! #4: Avoid getting sued and buy the RIGHT image license DON’T FORGET: You can’t just use the standard image license when purchasing images on Shutterstock to resell by printing them on products. Purchase the ENHANCED image license.
Views: 114524 Wholesale Ted
Dropshipping Questions: Refunds, Shipping & Dropshipping Outside the USA
In this video we answer common dropshipping questions: Refunds, shipping times and dropshipping outside the USA. Want to start a dropshipping business? Get our free 10k/month ebook: http://wholesaleted.com/4-step Creating an account on Amazon if you live outside the USA: https://www.youtube.com/watch?v=rDvUtel_sXw Aliexpress dropshipping tutorial: https://www.youtube.com/watch?v=2CWrd2gdTIs These are some of the most common dropshipping questions I get asked. So - let’s answer them! Question 1: Won’t the customer just get the item from the original supplier? Out of all of the dropshipping questions I get, this is one of the most common ones for people looking to do Aliexpress dropshipping. Many people are concerned that customers are going to go to Aliexpress and cut them out. And yes: There are some customers that are savvy and know that Aliexpress exists. And those customers will go to Aliexpress and cut you out. But there are a large amount of people that AREN’T savvy and DON’T know that Aliexpress exists, and it is THESE customers that will order from you. It seems obvious to you that the customer would go to Aliexpress because you would go to Aliexpress. But the only reason you would do that is because you’re savvy in the world of ecommerce, and most people aren’t. You were never going to have those customers in the first place - so they aren’t lost sales. Don’t worry about it: Focus on the customers that don’t know about it - THEY are your target market. For people doing the SaleHoo dropshipping method, this isn’t a concern because it is difficult to find the suppliers in the first place. And the fact that it is difficult is good for you, because it effectively builds an economic moat around your business. Question 2: What about long shipping times? Another one of the most common dropshipping questions I get is this one: What about long shipping times? If you’re doing SaleHoo dropshipping on Amazon.com this is obviously not a concern because you’re using American suppliers. But my answer is the same as the first one for Aliexpress dropshippers: Customers that were bothered by the long shipping times were never your customers in the first place so don’t stress about them. There are some things you can do though to help with the long shipping times: 1. Stress the free shipping - many people find this an exciting offer. 2. Create ways to add exclusivity to your product. 3. Focus on conversions and create a listing that captures the attention of the viewer. 4. Create the appearance that the item is on sale for a limited time, so that they need to act ASAP in order to get it for a special sale price. Question 3: What should I get, SaleHoo or Terapeak? I find this quite surprising that this is one of the dropshipping questions I get the most, because both are very different tools. Get SaleHoo if you want a directory of wholesale suppliers/dropshippers. Get Terapeak if you want a tool to help you identify low-competition, high-profit items for eBay. Question 4: I don’t live in America. How can I start a dropshipping business outside the USA? Should I dropship in my own country (UK, Australia etc) Out of the dropshipping questions I get from non-USA residents, this is the most common. And to this I say: There are a lot more dropshippers in the USA because it is a manufacturing nation. China accounts for 23.3% of all manufactured goods, and the USA accounts for 17.2% of all manufactured goods. This is why both of these countries have substantially more dropshippers than other countries. If you try to dropship in the UK, Australia, Europe etc you’re going to struggle simply because you will struggle to find suppliers to support your business. You can try, but I do strongly recommend you open a USA-based Amazon.com account and sell to USA residents. Question 5: How do I handle refunds? Yet another of the common dropshipping questions I get asked. Eventually you’re going to have to deal with refunds with Amazon. With Amazon.com I recommend having the customer ship the item back to the supplier. With a PRO Merchant account you can have multiple return shipping labels. Only work with dropshippers that have refund policies. And of course, Aliexpress has a return policy, so for those sales you can use that. And those are some on the common dropshipping questions I get! If you want to start your own dropshipping business, then be sure to download our free ebook, how to make 10k/month online with dropshipping: http://wholesaleted.com/4-step
Views: 92332 Wholesale Ted
How to Blind Dropship from Aliexpress (hide the supplier + hide the price!)
Learn how to blindly dropship items from Aliexpress (hide the supplier & price!). Want to start a dropshipping business? Get our free ebook: http://wholesaleted.com/4-step 6 Tips for Dropshipping with Aliexpress: https://www.youtube.com/watch?v=vgSiIbAuooc PLEASE NOTE: We strongly recommend that you watch the video. In this video, we do an Aliexpress unboxing from items that we requested to have blindly dropshipped, so you can see exactly what the customers receives when you blind dropship an item. Here at Wholesale Ted, we get asked a lot of questions in-regards to this… “Won’t the Aliexpress seller include an invoice in the package, telling the buyer the real price I paid? Won’t they get angry?” “I don’t want to dropship from Aliexpress because sellers include marketing information (like their seller name and coupon codes) that identifies them, so the buyer can go direct to the Aliexpress seller.” Luckily, there is a simple solution to this - and that is to blindly dropship your items from the Aliexpress suppliers. QUESTION: What is Blind Dropshipping? ANSWER: Blind dropshipping is when a supplier dropships an item without including any marketing or advertising identifying them as the seller. It also means they don’t include an invoice so the customer can’t see how much you paid. As a result, the buyer as no idea where you go the item from (so they can’t go direct to them) and they don’t know the real price of it. QUESTION: That’s great… how do I blindly dropship then? ANSWER: It’s actually very simple. All you need to do is ask the Aliexpress supplier to do it. When you purchase an item, on the checkout page you’ll be offered an option to leave a message for the seller. Simply type in a message like this: "Hi there. Please do not include an invoice or any marketing materials with this order. Please blindly dropship this item. Thank you" If you add a message like this, then your item will be shipped out and not include any invoices/marketing materials/coupon codes inside. QUESTION: Why would suppliers be willing to blindly dropship? ANSWER: A lot of Aliexpress sellers are used to working with dropshippers, and actively seek them out. Why? Because dropshippers can do large amounts of volume, and be very profitable for them. As a result of working with us, Aliexpress suppliers are used to the needs of dropshippers and know how to ship while hiding their identity. QUESTION: Why in this video do you recommend working with Aliexpress suppliers that have a feedback score between 2,000-2 million? ANSWER: Sellers in this feedback range are the “sweet spot.” They are established suppliers, so likely have previous experience working with dropshippers and will understand your requests. Yet they aren’t doing an absolutely insane amount of sales volume, so they will be more likely to pay close attention to messages. QUESTION: Is there anything else I do to ensure the supplier will blind dropship my item? ANSWER: Yes - there is. If you’d like to be doubly safe, then we recommend reaching out to the supplier and messaging them. You can ask them if they offer blind dropshipping, and check that they understand what it is. QUESTION: So you say that you ordered items from Aliexpress suppliers and unboxed them in the video… was any marketing material or invoices included in the packages? ANSWER: Nope! We ordered four different items from four different suppliers. All of the suppliers were in the feedback score range we recommended in this video (2,000 to 2 million). There was nothing included on or in the packages indicating who the seller was. There were no invoices included in the packages, indicating the true cost of the item. And there were no coupons included in the package, and they made no attempts to try and “poach” customers. And finally, here is something to keep in mind… this highlights something very important: oftentimes, seemingly complicated problems have very simple, easy solutions. We’ve noticed that a ot of people get held back from starting a dropshipping business because of this issue. They tell us things like: “I want to do this, but I’m worried the customer will get an invoice in their package.” “I’d like to start a dropshipping business, but it won’t work, because the Aliexpress seller will include advertising information in the package, identifying them.” Well… a little bit of research reveals that actually - this isn’t true at all if you just ask them to not do so! They will leave all of that out. So remember - if you hit a stumbling block along the way, don’t let it stop you. The solution to it is likely simpler that you realized.
Views: 137476 Wholesale Ted
3 Reasons Why People Fail at Aliexpress Dropshipping (and how to AVOID these mistakes)
The 3 reasons why people fail at Aliexpress dropshipping (and how to avoid making these mistakes). ►► How to Make $10,000/Month with Dropshipping: http://wholesaleted.com/4-step How to Make 1 Million Dollars: https://www.youtube.com/watch?v=7AhrpqKgS2o Ever heard someone say “dropshipping doesn’t work” or “dropshipping is a scam?” Well, if you dig deeper into their failed stores, you’ll usually find that they are making very common mistakes that is causing them thousands of dollars in lost sales and profits. In this video, Sarah explains the 3 most common reasons people fail at Aliexpress dropshipping, and how YOU can AVOID making these same mistakes. Reason people fail at Aliexpress dropshipping #1: Not testing enough products When I ask most people who give up on Aliexpress dropshipping how many products they have tested, they usually answer that they have tested less than 5 products. In fact, most people have usually only tested 1-2 products before they decided that the business model doesn’t work. This isn’t enough products. On average, it will take about 20 products to find 1 winning item. This may sound intimidating, but that single winning item will make you back the money you spent testing other items + more in profit, so it’s well worth finding it. The truth though is that most people do not plan to do this. They overestimate their own abilities and have the inner belief (whether they’ll admit it or not) that their first product they’ll test will succeed. This overestimation of abilities is extremely normal. There is a scientific term for this phenomena: Illusory Superiority - a cognitive bias that makes people overestimate their abilities. Unfortunately, this means that when most people fail at their product test, they are more inclined to blame the business model and declare that it “doesn’t work” rather than accept that they just need to test more products. What sets millionaire dropshippers apart is that they don’t mind failing, and consider it a necessary part of the business. Reason people fail at Aliexpress dropshipping #2: Not creating product listings that convert When creating your product listings in your Aliexpress dropshipping store, don’t make the mistake that causes a lot of people to fail at Aliexpress dropshipping of not creating actual product/item listings that are designed to convert the customer. To figure out a good product design listing, we can use Amazon to help us, as they have tested designs and found ones that work. Here is what they’ve discovered: * Upload 5+ photos of your product to your image gallery. * Make sure the photos are in high-enough quality that the customer can zoom in on them. * Have a detailed description. Their layout of bullet points followed by a text description is perfect. You can also go to Amazon and see if anyone is selling your product on there. If they are, you can use the Amazon listing to help you get inspiration for writing your product listing in your own store. Reason people fail at Aliexpress dropshipping #3: Not doing remarketing & follow-up campaigns The highest ROI you will ever get on a paid ad is through remarketing. Remarketing is when you capture people browsing your site with a tracking pixel. You can use that tracking pixel to follow them around the internet and advertise to them on other sites. You usually advertise to them the item they were looking at. Here are some common sites to run remarketing ad campaigns on: * Facebook * Google * YouTube The reason that remarketing has such a great ROI is because it is hot traffic. People are browsing because they are already interested. It makes it easy to close the sale. Even though this is the easiest money you will make, a big mistake that new Aliexpress dropshippers make is that they focus so heavily on their initial ads that they don’t even bother to set up a remarketing ad. Don’t make this mistake: Setting up a remarketing ad can turn an unprofitable item into a profitable product. Something else that a lot of new Aliexpress dropshippers neglect is their pre-existing customers. Most businesses will find that about half of their sales come from pre-existing customers. If you don’t run marketing campaigns to bring them back to your store, you’re missing out on a huge source of income. Pre-existing customers already trust you, so it’s easier (and cheaper) to convince them to buy from you again. Don’t just focus on initial customers. The easiest way to bring customers back to your store is to send them emails promoting new items and/or special offers. Most Aliexpress dropshippers don’t bother setting up an email newsletter, and so they are missing out on a huge chunk of money. Don’t make this same mistake - set up a newsletter series. Thanks for watching our video - if you liked it, please subscribe to Wholesale Ted for more videos like it, and click like on the video!
Views: 75234 Wholesale Ted
GENERAL vs. NICHE Aliexpress Shopify Store... (Should You Build a Niche or General Store?)
Niche store vs General store? Learn which store is better to open! ►► Free eBook - 6 Steps to a 6 Figure Store: http://wholesaleted.com/4-step ►► Join The Dropship Club Now: https://thedropshipclub.com ***OTHER LINKS REFERENCED IN THIS VIDEO*** How to Make 1 Million Dollars in a Year with Ecommerce & Scale (w/ Aidan Booth): https://www.youtube.com/watch?v=7AhrpqKgS2o It’s the million-dollar question: Which store is better to open - a niche or general store? The short answer is: Neither! Both stores have their pros and cons. Let’s examine both models so you can see which store is right for you. Starting with General stores. *GENERAL STORES* General stores have two big advantages. 1) they make the most money and 2) they’re less hassle to run in the long-term! General stores can easily make more money because you have more potential customers for your store. For example: If you build a store around pets, you’d have access to a whole wide range of customers. Making it easier to make a lot more money from one single store. Compare that to a niche store built around a single type of pet - like dogs. It’s easy to see how narrow your market gets. And the narrower it gets, the less buyers to your store. General stores also have access to a lot more products - a huge advantage over niche stores. This gives you more room to find winning items for your store. That way, if a current item you’re advertising becomes saturated by competition, you have other proven items to easily swap in. With niche stores though, it can get a little complicated. If you build a store too niche, you can run out of products to test because you’ve tested them all already. The easy workaround solution would be to build multiple niche stores. But now you’ve run into another problem: how much TIME will that take? All of this means, that with a general store, you can earn far more from your one, single store, since you have way more customers to reach out to. And long-term, it’s going to require less work to test new products and find winning items. But I know what you’re thinking: “Sarah - why on earth do you recommend niche stores?!” Great question. Allow me to explain … *NICHE STORES* Niche stores are a great option for two reasons. 1) they make beginners money faster and 2) they’re easier for beginners to convert sales. Niche stores make beginners money faster because you can firstly brand your store around your niche. Imagine a cat owner comes into a store - and everything screams “We LOVE cats” at them. The logo, the name, and even the About Page talking passionately about cats. Wouldn’t it be harder for cat lovers NOT to love a store like this? That’s the power of strong branding. It gives your site a personality. Something General stores inevitably have a hard time doing in the early stages. Branding also lets you tap into a power every store needs to be successful: TRUST. When you can use your branding to connect between you and prospective customers before even talking to them, making sales becomes a lot easier. And what do you get when you have customers that trust you? Higher conversion rates! In other words, the easier it will be to make sales. Niche stores let you tap into even more money with upsells and cross-sells. Think about it: When a cat owner comes to your pet site, they’re going to see a lot of items that aren’t relevant to them on the store. They don’t have a fish. They don’t care about those items. They don’t have a dog. They don’t want to buy dog-related items. So, when they click on your homepage, and see these categories teased… that is not going to be very enticing. On the other hand, if they were to click on your homepage, and see that all of the items in the categories being teased were about cats, they’ll be way more excited. This makes it easier to do follow-up marketing with emails and social media. Because every time you send out a newsletter, promoting an item, you know that whatever it is, it’ll be relevant to all of your customers. What this all means then is that beginners tend to have success and find winning items faster when they start with niche stores. At Wholesale Ted, we’re big advocates of building niche stores because we know that for many of you out there you’re just beginning - and that’s okay! And for beginners, it’s usually a better option to take the ‘path of least resistance’, which niche stores easily have. So ultimately, it comes down to this: scaling your business from 5-figures a month to over 6-figures a month is going to be much easier using the general store strategy. But, scaling your business from no dollars a month to 5-figures a month is going to be much easier using the niche store strategy. Each have their own pros and cons. You have to pick which option is the best for you.
Views: 13736 Wholesale Ted
6 Aliexpress Dropshipping Mistakes that New Sellers Make - w/Dan Dasilva
Learn what these 6 aliexpress dropshipping mistakes are that new sellers make - with Dan Dasilva. ►► Free Ebook - $10,000/Month with Dropshipping: http://wholesaleted.com/4-step Watch my latest video with Fred (referenced in this video): https://www.youtube.com/watch?v=tEG5Ls-Rgxw Check out Dan Dasilva’s YouTube channel, eCom Dudes: https://www.youtube.com/channel/UCpXfskk3Yg3_jCTXQVM-B3Q When it comes to dropshipping on Aliexpress, there are 6 big Aliexpress dropshipping mistakes that new sellers make that cost them thousands of dollars in lost sales. If you’re just getting started, then learn what they are so that you can avoid them, and shortcut your way to success! #1 Of the Aliexpress dropshipping mistakes: Not buying from reputable sellers Buying from reputable sellers means that you can trust that your customers will get their product shipped to them, and that they will be happy with the quality of it too. Here is how to filter the results to only show reputable Aliexpress sellers: 1. Go to Aliexpress. 2. Search for the item you want to source/dropship. 3. Tick 4 stars so that Aliexpress will only show you products with a 4+ star rating. 4. Click “orders.” Aliexpress will now list the results based on the number of orders a supplier has fulfilled for an item that week. 5. Go through the results, and find the supplier for your item with the highest number of orders that also has a 4+ star rating from buyers. Working with reputable sellers that are selling a high quality product will keep your customers happy… and happy customers make for repeat buyers! #2 Of the Aliexpress dropshipping mistakes: Not talking to your supplier When dropshipping, you should always get to know your suppliers. If you personally reach out to them, you can negotiate special deals like lower prices, free shipping and more. Talk to your suppliers and form a relationship with them. #3 Of the Aliexpress dropshipping mistakes: Creating a general store and selling everything You should always be looking to create a store that focuses on a specific niche. Don’t try to be like Walmart and sell everything. By offering lots of choices, you create lots of distractions. Your conversion rates will be much higher if you focus on finding a few high-quality products that appeal to a specific niche that will make them excited and inspire them to buy right then-there without distracting them with other products that they don’t want. In addition, focusing on a particular niche allows you to build your branding around it, which will also increase your conversions. You can focus on finding the right store name, URL, store theme, colour scheme, logo and more to fit with your niche. #4 Of the Aliexpress dropshipping mistakes: Focusing on the “Best Selling Items” on Aliexpress A lot of people pick their items by going to the “Best Sellers” on Aliexpress, and assume that those are the hot items that they should be promoting. But this isn’t the case: There are lots of items on Aliexpress that will sell very well, but people haven’t necessarily discovered them yet. So don’t get hung up on the “Best Sellers” and be prepared to find your own items on there to sell. #5 Of the Aliexpress dropshipping mistakes: Losing money by focusing on getting new customers, rather than on upsells Did you know that it costs McDonalds $1.91 in advertising to get you to buy something? Then, when you go ahead and purchase a burger for $2.08, they only make $0.18. Doesn’t seem worth it, right? Buuuut… when they sell you fries and a drink for $1.50 more, they are now currently making $1.68 in revenue… an increase by over 900%! If McDonalds were to instead take the mentality of increasing revenue through finding new customers, they’d have to find over 9 new customers. The lesson for this is that it’s a lot easier to increase revenue/profit by upselling current customers and getting them to spend more, than it is to focus on advertising and trying to acquire more customers. When setting up your Shopify store then, focus on building funnels that upsell customers you’ve captured into spending more money with you, rather than just investing in more paid advertising. #6 Of the Aliexpress dropshipping mistakes: Not letting the market dictate what you should sell There are lots of tools at your disposal which will help you pick the right items to sell. You have the Google Keyword Research Tool which will tell you which keywords/phrases (and thus items) that people are searching for. And you have the Facebook marketing insights which tells you purchasing behaviour, what pages people like and gives you insights into the types of demographics you can target. Use these tools to help you identify items that people want to purchase. Don’t try to guess. If you’ve got any questions about these 6 Aliexpress dropshipping mistakes that new sellers make, be sure to leave them in the comments section below!
Views: 332910 Wholesale Ted
HONEST: Why Gurus Sell Courses & Reveal “Secrets” on How to Make Money
The honest reasons why gurus sell courses and reveal “secrets” of making money. ►► Free ebook - How to Make $10k/Month: http://wholesaleted.com/free-ebook ►► The Dropship Club: https://thedropshipclub.com Watch this video to see how we’ve used the skills we’ve gained from this channel (video creation, email marketing etc) to make us better at dropshipping: https://youtu.be/bwkNpNX94eU - 3 Weird Dropship Hacks A super common question that we get asked here at Wholesale Ted, is why do we (and other experts or “gurus”) reveal “secrets” about how to make money online? A lot of people say things like… “If it’s so profitable, why do people teach others how to copy their businesses?” “If I knew how to make $10,000 a month, I wouldn’t reveal it in a $67 course!” And a lot of people worry about saturation: if YouTube channels like mine teach people how to create these businesses, won’t we saturate the business model with a flood of competitors, making it no longer worth doing? And that’s a valid question. Because we have witnessed some “business models” become saturated and no longer profitable due to a flood of competition. A prime example is selling Aliexpress products on Amazon & eBay. Because it’s so easy to do, there has been a flood of competitors. As a result, the prices have been driven massively down. However, for many other business models (including the ones we teach on this site: Aliexpress dropshipping in your own store & private labeling on Amazon) this isn’t a problem because of two reasons: 1) There are barriers to entry 2) There is exponential growth within the market Let’s look at the first reason: the barrier to entry. If you want to dropship Aliexpress products on Amazon, all you need to do is slap them up on the site. There is very little work involved, and so anyone can do it: meaning there is very little barrier to entry. But if you want to private label, then you’ll need to manufacture & produce products and then get them shipped into and stored in an Amazon FBA warehouse. That is a LOT of work and it massively limits how many people are willing to try the business model. Now let’s look at the second reason: exponential growth. The key websites we discuss on this channel (Facebook for Aliexpress dropshipping & Amazon for private labeling) and growing at an insane rate: * In the past year, Facebook acquired hundreds of millions of new users. * In the last earnings report, Amazon revealed their revenue increased by 42% (tens of billions of dollars). When you combine exponential growth with a barrier to entry, it means that competition saturation isn’t a true concern, leaving plenty of room for new sellers/competitors to enter the marketplace. With that in mind, course creators (like us) aren’t afraid of creating new competitors. Which means, creating & selling courses (and making YouTube videos) acts as a way of creating a separate business to help with… Income Diversification. In the video, Sarah discusses how when she was younger, she didn’t care about income diversification… and it ended up costing her a LOT of money. In the beginning when you start your business, you won’t have the luxury of this: instead, you need to get really good at your business and grow that out. But once you’ve done that, and you have a successful store, then you should start thinking of diversifying your income by creating new businesses. By starting this YouTube channel, we’ve acquired lots of new skills: * We can now create engaging videos. * We know how to build YouTube channels. * We’ve gained more experience with email marketing & upsells. Not only can we ever use these skills to make money in case something ever happens to Amazon/dropshipping, but we have been able to use them to make us even BETTER at those two business models. So it isn’t some big conspiracy. The honest reason why we create videos & sell courses on dropshipping & Amazon is because we know: 1) That there is plenty of room for new sellers to enter the marketplace that we teach/coach. We aren’t afraid of saturation. 2) We need to have multiple streams of income/skills to be future-proof. Plus, there is one other reason that we like to create videos… You guys - our subscribers - make it super fun! When you leave kind comments, it makes us really happy. So thank you to all subscribers of our channel, we very much appreciate your views and comments. If you’ve got any questions please leave them in the comments section. We always try to answer as many as we can!
Views: 57851 Wholesale Ted
How to Make 1 Million Dollars in a Year with Ecommerce & Scale (w/ Aidan Booth)
6 Tips on how to make 1 million dollars in a year with ecommerce (w/ guest - Aidan Booth!) ►► How to Make $10,000/Month with Dropshipping: http://wholesaleted.com/4-step In this video, Sarah (along with our special guest - a millionaire dropshipper, Aidan Booth) give you 6 tips on how to make 1 million dollars in a year with ecommerce and how to scale your business. ***LINKS TO OTHER CONTENT REFERENCED IN THE VIDEO*** Why I Quit Retail Arbitrage: https://www.youtube.com/watch?v=W-8cRWYe9Ec How to Start a Business with No Money (Dropshipping): https://www.youtube.com/watch?v=17X6gnJT2II Tip #1 for how to make 1 million dollars in a year: Don’t fulfil orders yourself Fulfilling orders is when you pick, pack and ship the items you sell to your customers. Fulfilling orders is one of the most time-consuming parts of the business, yet it requires the least skill and is essentially manual labour: Which makes it easy to outsource to someone else. If you fulfill orders yourself, you will eventually hit a scaling cap, because there are so many orders that you can fulfill in a day because you have limited time and energy. Leverage your time by getting others to fulfill orders for you. Here are two ways to do that: 1) Use dropshipping, where the manufacture/supplier ships the item to the customer directly. 2) Use the Amazon FBA program to fulfil orders for items you are personally manufacturing (you don’t need to be selling on Amazon to use the Amazon FBA program, you can use it when selling in your own private store). Tip #2 for how to make 1 million dollars in a year: Work backwards towards your goals If you want to make 1 million dollars in a year, then you need to do the maths to figure out how you are going to get there: * If you divide 1 million by 365 days, then that reveals you’ll need to aim for $2,740 a day. * Great products on average can earn you $200-500/day, which means you’ll need to aim for roughly 10 products to reach your $2,740 goal. * You’ll usually find 1 in 20 products you test will be winners, so you’ll need to test roughly 200 products to find these 10. Bonus tip: Don’t get afraid about the idea of testing 200 products - you’ll be able to reinvest the money you earn (as even losers earn money). Tip #3 for how to make 1 million dollars in a year: Use paid traffic (and not SEO) While people are drawn to free SEO traffic because it is cost-effective, it is not the most efficient way to scale to 1 million dollars. To do that fast within a year, you need to use paid traffic: 1) Paid traffic is instant, whereas with SEO traffic you’ll have to wait for results. 2) Paid traffic lets you test products extremely fast - which lets you quickly identify the 10 winning items that you need to find. If you use SEO traffic, it’ll take you a long time to find out which ones are worthwhile, and which ones aren’t. Tip #4 for how to make 1 million dollars in a year: Pick a good niche and pick a plan When picking your niche, you have two choices: 1) You can go with a super-focused niche 2) You can go with a general-niche If you pick a super-focused niche, your store will make more-money-per-visitor because the traffic will be extremely targeted, and all of the items will be relevant to the customers, and so you’ll get a lot of upsells/cross-sells. However, to reach your 1 million dollar goal you’ll have to create multiple stores, whereas you can scale to a million dollars with a general-niche store, but it will be more challenging. For beginners, picking a super-focused store is the easiest way to start making money. Tip #5 for how to make 1 million dollars in a year: Take advantage of repeat buyers Roughly 48% of online sales in the USA come from repeat buyers. If you aren’t getting repeat sales then you are missing out on a lot of easy money, as it is much easier to get a previous customer to buy from you again since they have already formed a trust bond with you. But, to get a previous customer to purchase from you again, you need to treat them right. Have regular emails updating customers on the state of their order, answer their questions and sell high-quality products that they will like so that they’ll buy from you again. Tip #6 for how to make 1 million dollars in a year: Systematize your business By breaking down your business model into small steps, you can easily figure out which tasks that you need to complete, and which tasks you can outsource to someone else such as a virtual assistant. This will let you use your time wisely and let you “pump out” profitable stores/products fast.
Views: 158208 Wholesale Ted
Importing from China - Sourcing Products from Chinese Suppliers
Importing from China is a fantastic way to source private label products. Chinese suppliers are high-profit, low-cost! Interested in making $10,000/Month? Download our free ebook here: http://wholesaleted.com/4-step Please note: this description contains affiliate links Importing from China is something that I strongly recommend. It is much cheaper to purchase product from Chinese suppliers compared to USA suppliers. Some people find this idea very daunting, especially the cultural barrier. To help you, we’ve created this video outlining some of our top tips when importing from China. Tip #1: Order the minimal order quantity to start with when importing from China To be on the safe side, you should always start with the minimal order quantity when dealing with a new supplier. I understand that a lot of sellers want to start out by ordering larger quantities. This makes sense, because the more you order the lower the cost is per-item, and the higher your profit margins. It also means that you will have a smaller chance of running out of stock. In Spite of this, when importing from China with a new Chinese supplier, I recommend starting with the minimal order quantity (EVEN if you know it’ll sell well) because you want to test the quality. It is much harder to go from producing 1 unit to producing 200… and even harder to go from producing 200 to 1000. On that note, you should ALWAYS be ordering a test product when dealing with a new Chinese supplier! You’ll have to pay for the shipping, but it is extremely important to do this to check the quality even if the supplier has a lot of reviews on Alibaba. Tip #2: Do due diligence on the supplier That said, reviews on Alibaba are very important. When using Alibaba to source Chinese suppliers, check the reviews. Only work with suppliers that have positive reviews. Be sure to check the address of the supplier on Google Maps. Ensure that there is a factory at the address noted. If there isn’t a factory, then it is likely a middle man… which means you’re paying inflated prices, and not the at-cost price. And pick up the phone and give them a call. Make sure someone picks up the phone and talks to you (yes - this may seem obvious, but a lot of people don’t do this simple thing). Even better is if you can find people who can personally recommend Chinese suppliers to you. This way, you can work with suppliers that you can trust from the get-go. Tip #3: Build a strong relationship with your supplier and representative This is an important lesson not just when importing from China but for business and life in general. Treat people with respect and they will treat you with respect as well. Think about it: If someone was disrespectful to you, would you want to help them? On the other hand, if someone is nice to you, don’t you want to help them? Be respectful, and friendly. In addition, Chinese suppliers like you to be formal in your communication style with them. They like to be told directly that you appreciate their business and are happy with the products being produced. They will be hoping to turn you into a long-term client, and want the positive feedback, so be sure to give it to them. Tip #4: Don’t feel you need to speak Mandarin When importing from China, some people get put off by the perceived language barrier. “But I only know English… can I still import from China?” Yes - you can! Chinese factories have English representatives specifically for people like you. Their English is good and you’ll have minimal language barriers. Don’t let this stop you from profiting from the very cheap products you can source from China. Now, when importing from China there are some things you can do to minimize the language barrier. One, use short sentences, and do not include extra fluff. Be straight to the point. Two, use professional language, do not use slang. Three, be aware that there are multiple types of “English.” Four, don’t assume that your representative knows YOUR particular flavour of English. Avoid country-specific words and isms. Tip #5: Remember that when importing from China “yes” doesn’t always mean YES. In China it is considered impolite for the suppliers to say no. So, even when they want to say no… they are unlikely to, and will often say yes instead. However, this doesn’t mean it is a yes. It is a no. But they will say “yes” anyway. It is one frustrating quirk. If you sense any hesitation in their “yes” ask them the same question, be reworded differently multiple times. If you ever get a “maybe” that is almost always a no! We hope you enjoyed our video and learned some tips for importing from Chinese suppliers. Do you want to learn how to earn over $10,000 a month on Amazon, with dropshipping? Then be sure to download our free ebook: http://wholesaleted.com/4-step
Views: 163762 Wholesale Ted
10 Psychological Triggers to MAKE PEOPLE BUY From YOU! (How to Increase Conversions) Sales Tricks
Use these 10 proven psychological triggers to get customers to BUY MORE from YOU! ►► FREE WEBINAR - $5 Million/Year Training: http://wholesaleted.com/go/workshop2 ►► WATCH LAST WEEK'S VIDEO: https://youtu.be/Br--4ggyMaU ***OTHER LINKS*** ►► 10 Sales Psychology Hacks: https://youtu.be/q-7_oc3sU5Y ►► Brutally Honest Store Review: https://youtu.be/jHoL0yg0Lo0 ►► Why You Aren't Making Sales: https://youtu.be/NqhaDTsCEe8 ►► https://www.facebook.com/delish/videos/10156441757252437/ Learn 10 psychological customers to make customers buy more items from you! Sales psychology is a secret weapon - yet most people fail to obtain it. Here are 10 of our best psychological “triggers” that you can use in your store today to increase sales and conversions. Trigger #1: Incite Customers to Buy by Giving Them Something for Free When you give a customer a freebie like a coupon, we trigger the social norm of reciprocity. When someone does something nice to us, we feel a strong obligation to return the favour. Use personalized coupons that offer someone a unique discount. For Amazon sellers, include a coupon inside the customers packaging. Trigger #2: Create Envy with Customer Reviews Customer reviews help to create envy in your prospective customers. If we see our neighbours benefiting from something, we become envious and want to receive this benefit too. And so that’s what positive product reviews do. If you’ve got a Shopify store, include a review app like Stamped.io that asks customers to leave a review. For Amazon sellers, use Jump Send which also automatically emails your customers asking them to leave a review. Trigger #3: Use Curiosity to Drive Traffic & Engagement Curiosity should feel like an itch you NEED to scratch. The spin-to-win coupon pop-up box is again a good example of this. And for Amazon sellers, a great way to add curiosity to your marketing strategy is to be creative with the review request email titles you use e.g. “I have a favour that I’d like to ask you?” instead of just asking for a review. Trigger #4: Use Photos to Help Customers Visualize If you run an online store, don’t just include the basic photos of a product against a white backdrop. Instead, look for photos that the supplier has provided showing it in a real-life context. And if the supplier doesn’t have these, consider buying a test product and taking your own photos. The same applies to if you sell on Amazon. Trigger #5: Use Photos to Create Emotions in Customers If you run an online store, be sure to include pictures of people using the product and - more importantly - ENJOYING themselves using it too! Trigger #6: Use Price Anchoring to Push Prices Higher Price anchoring is when you place two products with different prices side-by-side, and it’s most effective when there are at least 3 pricing tiers. Most people pick the middle-price product. It looks cheap compared to the expensive option, but people will assume it’s higher quality than the cheap option. It’s the comfortable compromise. Trigger #7: Include Product Pictures with Human Faces Similar to trigger #6, this trigger uses humans - particularly the face - as a way of increasing sales conversions. Consider purchasing a test product and taking your own photo with the item. Trigger #8: Pain Is More Motivating Than Pleasure Pain is a stronger motivator than pleasure. In your product descriptions, emphasize how your product can remove a pain point that a prospective customer is experiencing (and wants to get rid of). Trigger #9: Create a Common Enemy Essentially, this is creating an “Us vs. Them” attitude against a competitor you have. Look at your market or niche you are selling in: Who is your common enemy? Identify who they are and position your product against them. Trigger #10: Phrase Your Prices as Low When you emphasize how low your prices are using words like “only” and “just”, conversions and sales always increase. When you’re phrasing your pricing in marketing materials, don’t be afraid to verbally minimize the price e.g. “It costs just $9.”
Views: 11688 Wholesale Ted
How to Sell on Amazon.com if You Don’t Live in the USA Using American Dropshippers
Learn how to sell on Amazon.com if you don’t live in the USA while using American dropshippers. ►► Free ebook - How to Make $10,000/Month Online: http://wholesaleted.com/4-step ***Helpful Links Referenced in this Video*** Aliexpress vs. Amazon dropshipping: Step-by-step instructions to create an Amazon.com account: https://www.youtube.com/watch?v=fZjFjJNWLis SS-4 Form to get an Employer Identification Number: http://wholesaleted.com/go/ss4form PDF Guide for the SS-4 form: http://wholesaleted.com/go/ss4pdfguide Video tutorial on sales tax obligations when dropshipping: https://www.youtube.com/watch?v=8MQFY9XI-ag SaleHoo resellers certificate resource: http://wholesaleted.com/go/resale-certificate/ There are a lot of people that don’t know how to sell on Amazon.com outside the USA however, and they tend to run into some problems. Here are the problems that they hit, and the solutions to them: Problem #1: You need to create a USA-based Amazon.com account. This is a very common stumbling block that causes a lot of foreigners to not know how to sell on Amazon.com outside the USA: They assume they can’t open a USA-based Amazon.com account. This isn’t true, you can, and we have a video which explains how to do so here: https://www.youtube.com/watch?v=fZjFjJNWLis And no - you don’t need a USA credit card, bank account, address or phone number. You can use your own! Problem #2: Foreigners are confused on how to sell on Amazon.com outside the USA because they need a Tax Identification Number Another reason that people don’t know how to sell on Amazon.com outside the USA is that they don’t know how to get a Tax Identification Number. Some dropshippers will ask you for one before they’ll let you dropship from them due to sales tax laws in their local state. But getting one is very easy. Simply apply for a “Employer Identification Number” which you can get in less than an hour with a simple phone call. Here is the step-by-step tutorial on how to get an employer identification number as a foreigner: 1. Get a USA mailing address. If you’ve got a friend in the USA you can just ask to use theirs. If you don’t have a friend, I recommend using USAMail1. It costs just $10/month (and you can cancel immediately after you get your EIN mailed to you!). 2. Fill out the SS-4. I have a link to this at the top of the video description under “helpful links.” You’ll also find there a link to a PDF guide which gives you tips on how to fill it out. 3. Call up the IRS to have them immediately approve your application. Their number is +1 267 941 1099. Press 1 when you call to apply for a foreign EIN. Their opening hours are 6am-11pm EST Monday-Friday. You’ll usually be on hold for 15-45 minutes. The cheapest way to call is to use Skype as it’ll cost you just 2.6¢/minute. When an agent picks up, tell them you need an EIN as a foreign sole trader. They’ll ask you some questions based on the SS-4 form you’ve already filled out, and then they’ll immediately give you your EIN. Write this number down as you’ll have to wait a few weeks for it to be formally mailed to your USA address. And that’s it - you’re done! You’ve now got an EIN. When an agent answers, tell them you need an EIN for a foreign sole trader. They’ll have you answer some questions based on the SS-4 form you filled out. When you’re done, they’ll give you an EIN to use immediately. Problem #3: How don’t know what your tax obligations are as an international seller. Another problem confusing people and stopping them from knowing how to sell on Amazon.com outside the USA is they don’t know what their tax obligations are. These are pretty simple: * You don’t owe income tax to the USA government, you owe income tax to your local government. * You’ll owe sales tax to states in the USA that you have nexus in, which Sarah explains in her video on sales tax and dropshipping (which you can find in the “helpful links” section of this description). Problem #4: People don’t know how to sell on Amazon.com outside the USA because they don’t think they can get reseller certificates or licenses Once you get an EIN, getting a reseller certificate/license is very easy. You simply apply for them online. We’ve included a link to a helpful resource that SaleHoo has created on this in the “helpful links” section. Problem #5: Foreigners don’t know how to sell on Amazon.com outside the USA because Amazon wants a return-to-address If a customer wants to return a product, Amazon will want a return address to send the item to. The best way to manage this as a dropshipper is to have them return it to the dropshipper. With an Amazon PRO Merchant account you can have multiple return shipping labels to your individual dropshippers.
Views: 44014 Wholesale Ted
Aliexpress Dropshipping Tips - Increase Sales, Conversions, Traffic & Profit!
Learn our top Aliexpress dropshipping tips for huge profits! Get our ebook: http://wholesaleted.com/4-step Step-by-step guide to creating an Aliexpress store: https://www.youtube.com/watch?v=vQzy6rtGs3Q Aliexpress dropshipping tips #1: Add value to generic Aliexpress products by branding them On Aliexpress, the products that you will dropship are generic looking. In one way this is bad: Because generic products have a low perceived value. On the other hand, this is a great opportunity for you because it gives you the opportunity to rebrand them yourself. Rebranding them is easy. Just give them another name. You can even purchase the item for yourself and take your own high-quality pictures to make it stand out from the crowd. Aliexpress dropshipping tips #2: Emphasize free worldwide shipping An interesting quirk about buyers is that they are drawn to a “free shipping” offer and see it as great value - even though, obviously, the seller just raises the price to absorb the cost of the free shipping. Take advantage of this for yourself and use it as a point-of-difference. I recommend displaying a “free shipping” emblem and heavily emphasizing it to the customer. In addition, Aliexpress items ship worldwide. This represents a fantastic opportunity for you to target markets in countries that don’t have good local options: So look for English-speaking countries that lack stores in the niches that you are targeting. Aliexpress dropshipping tips #3: Add the buyer protection emblem to your product pages Just like with the free shipping emblem, there is a fantastic opportunity to add he Aliexpress buyer protection emblem to your product pages. Online, customers are more likely to buy if they feel they are protected with a refund, so this will help increase your conversions. World of Harry include the Buyer Protection emblem on their page that they’ve ripped straight from Aliexpress. You can definitely do this, however I’d recommend that you make one that is customized for your colour scheme/store theme to fit with it. But you don’t need to stop there. You can add other emblems to your page, including credit card emblems. If you follow the instructions I gave in my video where I taught you how to create a store (https://www.youtube.com/watch?v=vQzy6rtGs3Q) you’ll be able to accept payments via PayPal which means you’ll be able to accept payments via major credit cards (VISA, Mastercard, American Express) so you will be able to display these trust emblems on your store legitimately. Aliexpress dropshipping tips #4: With search engine optimization you don’t need to pay for traffic to your Aliexpress dropshipping store You don’t need to purchase paid traffic to your store to make sales/traffic. If you take advantage of search engine traffic, you can do this for free. World of Harry, an Aliexpress dropshipping store, makes $1k/month and it’s owner, Yaro, has a portfolio of Aliexpress dropshipping websites making him $4k/month. He doesn’t pay for advertising, he uses free search engine traffic to drive sales. Yes, $4k/month isn’t HUGE numbers. But it’s all off of the back of FREE traffic. If you don’t have much startup money, don’t let that stop you: You can get started for just the cost of your domain/hosting (which you can learn how to get here - https://www.youtube.com/watch?v=vQzy6rtGs3Q) and then take advantage of search engine traffic. Aliexpress dropshipping tips #5: While you don’t need paid traffic, it can make you HUGE amounts of money Here is the reality - while you can still make thousands of dollars a month without search engine traffic, the truth is that you will make even MORE if you embrace the power of paid advertising. Everyone I know who is doing millions of dollars with Aliexpress dropshipping is doing it off of the back of Facebook advertising. Out of all of my Aliexpress dropshipping tips, this is probably the most important to know/realise. If you decide to do it on your own, start with a small budget ($5 is a nice, small amount to play around with). It’s a very lucrative opportunity but if you do it wrong, you can lose a lot of money too. Alternatively, I would strongly suggest that you keep an eye out for coaching courses and mentorships from people who are experienced at ecommerce paid traffic ads. Hopefully these Aliexpress dropshipping tips helped you! If you haven’t already, subscribe to Wholesale Ted. And if you haven’t already then be sure to download our free ebook: How to Make $10k/month Online with Dropshipping - http://wholesaleted.com/4-step
Views: 30739 Wholesale Ted
How to Make More Money from a Shopify Aliexpress Store (4 Optimization Tips)
How to Make More Money from a Shopify Aliexpress Dropshipping Store (4 Optimization Tips) ►► Get our FREE $10,000/Month Dropshipping Ebook: http://wholesaleted.com/4-step ►► Watch our Step-By-Step Shopify Tutorial: https://www.youtube.com/watch?v=IakKkA_DWdQ Here are 4 tips you can use to make more money from your Shopify Aliexpress Dropshipping store. These tips will have you increase your conversion rates - which will help you make more money from dropshipping! Tip #1 to Make More Money from a Shopify Aliexpress Dropshipping Store: Add Enhanced Ecommerce Google Analytics Settings to your Store It’s very easy to add Enhanced Ecommerce Google Analytics to a Shopify store. And there are numerous benefits to doing this: * It lets you track through Google Analytics if a customer adds a product to their cart. * It lets you track what products a user clicks on. * It lets you track successful transactions. * Plus tonnes more - it basically lets you track a user as they move through your Aliexpress Shopify store. Why add Enhanced Ecommerce Google Analytics? Simple: it let’s you make educated decisions. For example, if you see through the data that you have an unusually high cart abandonment at the shipping page, then you know that it’s the shipping price turning customers off and you need to lower it. Tip #2 to Make More Money from a Shopify Aliexpress Dropshipping Store: Be Smart - and Not Greedy - When Pricing Your Upsells It’s very easy to add upsells to a Shopify store using plugins - and these upsells are crucial in greatly increasing the Average Order Value (AOV) and money you make for each of your customers. BUT - upsells can backfire if you charge too much. You risk offending the customer and turning them off your upsell… or worse, risk offending them so much that they bounce from the cart and don’t buy anything - effectively losing you a sale. To stop this, here are some guidelines to follow when you are pricing your upsells: 1) The first upsell should cost no more than double the price of the first item they purchase. This means that if the first item is $9.95, then the first upsell should cost no more than $19.95. 2) The second upsell should cost no more than double the price of the first upsell. So if the first upsell costs $19.95, then the second upsell should cost no more than $39.95. And here is another tip - don’t add in too many upsells. If you add in too many, you will risk offending the customer. A good number to stick to is 2. Tip #3 to Make More Money from a Shopify Aliexpress Dropshipping Store: Use Proven Copywriting Techniques to Increase Your Sales Writing your product description is very important, and it can make or break a sale. If you have a great product, but a terrible page for it, you will struggle to make sales. Copywriting is a secondary but important skill to learn as a dropshipper. Here are 3 things to keep in mind when writing good copy for your products: 1) Sell the Benefits and NOT the Features This is a classic mistake that most new marketers make. They list the features for a product, thinking the customer will be impressed - but this doesn’t work. You need to explain how this product is going to benefit and improve the customer's life. 2) Use Powerful Words in your Product Page Use words that evoke emotions and feelings. For example, if you want to create scarcity, use words and phrases like “never again”, “running out” and “while they last.” 3) Remember - the Headline is EXTREMELY Important Most people make the mistake of making the headline just the name of whatever product they are selling. This works, but what works even BETTER is to craft a unique, high-converting headline by utilizing powerful words to evoke emotions in the customer. Tip #4 to Make More Money from a Shopify Aliexpress Dropshipping Store: Use Amazon.com to Help You Write Your Product Pages Something I’ve noticed - and this applies to me as well - is that dropshippers are often very good with numbers… and less good when it comes to words. Our strengths lie in analyzing data, not in writing copy. If this is you, then that’s OK. You don’t need to be creative and come up with your own ideas - look at what others are doing for inspiration. Amazon.com is a great place to do this as a lot of people are (foolishly) dropshipping Aliexpress products on the site. You can go to their listings and use them for inspiration when writing your own. And a bonus tip, don’t just look at the product listing. Go into the reviews and see what customers like about the product - and use that to help you write your description too.
Views: 27510 Wholesale Ted
5 Things to Do BEFORE Working With Chinese Dropshippers & Suppliers (Aliexpress & Alibaba Tips)
Do these 5 things BEFORE using a Chinese Aliexpress Dropshipper or Alibaba Supplier! ►► FREE EBOOK - Download Now: http://wholesaleted.com/4-step ►► Join Our Step-By-Step Dropshipping Course: https://thedropshipclub.com ►► https://www.youtube.com/watch?v=wFSqwNZDixQ #1: Check to see if your suppliers has been to a tradeshow If you are trying to decide between two suppliers, checking to see if either has been to a tradeshow is a great way to help pick between them. Going to a tradeshow is very expensive and so a lot of legitimate suppliers do not go because it is hard to make enough money back to make it profitable. What this means is that if a supplier has gone, then it indicates they are financially is a good position (which means they are unlikely to go out of business any time soon). If your supplier is on Alibaba, you can go to their profile and check to see if they have visited any tradeshows. If your supplier is based on Aliexpress, find the brand of the item that you would like to sell and then go to Alibaba to locate the manufacturer. You can then visit the manufacturers profile page to see if they have been to a tradeshow. #2: Avoid using pictures with models If you are working with a Chinese dropshipper on Aliexpress or a Chinese supplier on Alibaba and they have stock photos that use models, we recommend that you don’t use those photos yourself. This is because Chinese suppliers have a history of illegally taking pictures from model’s social media accounts (like stealing the images from Instagram). They can get away with this in China, but in the West the model can contact Facebook/Amazon and get your ad/listing taken down. Avoid using pictures with models so that you don’t infringe on copyright. #3: Check to see if you’re working with a manufacturer, trade company or wholesaler On Alibaba you will usually encounter two types of suppliers: manufacturers and trade companies. A manufacturer is the factory that originally made the item. A trade company is a middle-man between a manufacturer/factory and you. Neither is better than the other, they both have advantages and disadvantages. The advantage with a manufacturer is that you’re going straight to the source and it’s usually cheaper. On the other hand, a trade company usually charges more since they make a commission on the sale, but their reps usually speak better english which makes communication much better (sometimes they can negotiate lower prices than if you were buying straight from the manufacturer as well so it’s good to check even if you are price sensitive). You can check what the company is in their Alibaba profile. On Aliexpress you’ll usually encounter either manufacturers or wholesalers. Manufacturers tend to brand their store their generic label brand (e.g. Transhome) and only sell products under their brands. Wholesalers will usually name their store something less generic (e.g. Mr & Mrs Store) and will sell products from a variety of manufacturers. Wholesalers are sometimes more expensive but they have a wider selection of products. #4: Recap your agreements and contracts in writing If you and your supplier are negotiating a contract or an agreement, make sure that you get your suppliers to recap it and write out the agreement in text. It’s very easy for both cultural and language differences to cause misunderstandings. Ask your suppler to recap each element of your agreement in text (either by email or by sending a copy of your contract in writing). #5 Prioritize products that have multiple manufacturers The profit margins for Chinese manufacturers is very small, because they sell their items so cheaply. That, along with the fact that doing business in China is relatively difficult means that unless a factory is well managed, it can go bankrupt and have to close. If you’re dropshipping an item or private labeling it for Amazon and your supplier goes out of business, then unless you have a backup supplier that manufactures the same item - you will have nothing to sell and your money will dry up. That is why, when choosing between products, it’s good to look for one that has multiple manufacturers and suppliers. Then, on the off-chance your supplier has to close it’s doors, you can switch to a new one - and your business can continue, and you can keep making money.
Views: 42137 Wholesale Ted
3 Things Amazon Gurus DON'T Tell You About Selling on Amazon FBA...
There are 3 things that "Amazon gurus" don't tell you about selling on Amazon... ►► EBOOK: How 6-Figure Stores Earn $10k/month - http://wholesaleted.com/4-step ►► How to Launch Your First Amazon Product - https://youtu.be/JPwscpE-53g ***OTHER LINKS REFERENCED IN VIDEO*** ►► 5 Mistakes New Importers Make: https://www.youtube.com/watch?v=tb7PNEU1r5w ►► Seller Tradecraft: https://www.youtube.com/channel/UCPHntYYv-dwbTP-g-y4RYsg Yes, we all know that Amazon gurus love to talk about spending money on fancy cars (and buying Lamborghinis)... but what about the dark sides to the business that they don’t talk about? Here is the truth about selling on Amazon. #1: Income Screenshots are REVENUE, NOT Profit When you see an income screenshot posted by someone, remember that this is the total amount in SALES that they have made. This is not the profit that they have earned. If someone posts that they have made $10,000 in sales last month, this does not take into account the expenses paid to make those sales (like purchasing inventory, the costs of shipping, Amazon FBA fees or costs spent on marketing). Usually, if someone is making consistent, monthly sales, this is a good indicator that they are making a profit. How much profit you can’t know - but in the industry, the yardstick that most people aim for is to make a 30% profit margin on Amazon FBA private label items. However, while most people do usually profit from their sales, there is one big exception to this: and that is the first month in business. When you launch a product on Amazon, to be able to make a large volume of sales, you need to run a launch campaign and use marketing techniques to generate as many sales as possible. To do this, sellers do the following things: * Send out discount coupons using services like ZonJump. * Invest money into Amazon PPC ads. * Discount the price of the item (price competition). All of these marketing techniques can be very expensive, and they eat into profits. That 30% profit margin is based off customers finding your item organically using the search engine - NOT from people buying it from a discount coupon/from a PPC ad. This means it is very common for new Amazon products to at best break even or, more likely, LOSE money in their first month. However: it’s worth it. By investing into a launch campaign, you can create a huge volume of sales and push your item to the top of the Amazon search results and make passive, on-going sales into the future. #2: To Make a Lot of Money, You NEED A LOT OF MONEY! Unlike dropshipping where you can get started for $500, with Amazon FBA private labeling you’re going to need a lot of money. As Sarah explains in the video, to launch a product that makes $10,000/month in sales, you will need at least $9,000 just for the inventory alone, and that doesn’t include the costs of marketing, tools etc. However, you don’t need $9,000 to launch a product on Amazon. You can get started with smaller budgets like $3,000, but if you do, you will need to be realistic about the types of products that you choose to sell. Look to sell a product that is on average doing a low monthly sales volume (a good number to look for is around 100 units a month). Another advantage of these products as well is that they usually have less competition, as most Amazon FBA private labelers want to go after higher volume items. This means you’ll need to spend less money on marketing when launching your product. #3: It’s Very Easy to Go Into Debt When Running an Amazon FBA Business When you are running an Amazon FBA business, it is very easy to go into a lot of debt. Why? Well, it’s because your expenses are very high. It’s very expensive to purchase inventory. Most of the money that flows into the business is going to go towards paying for expenses. This means that you need to be careful that you manage that cash in it. A common trap that Amazon private labelers fall for, especially high-level Amazon businesses, is that they try and expand too quickly. They realize that if they spend money purchasing MORE items and MORE inventory, that they can sell it and make MORE money. And so they use all of the cash they have, and max out their debt, in an attempt to purchase as many items as possible. And this is all well and good… until they get an unexpected bill, like a tax bill. Normally they could pay it, but because they’ve tied up all of their cash and debt in inventory, they don’t have any money left to pay the bill. And even though they will have the money to pay for it tomorrow, it doesn’t matter, because it needs to be paid for TODAY. But this can be easily avoided if you manage your cash flow correctly. We strongly recommend you follow the Profit First system!
Views: 27425 Wholesale Ted
How to Dropship from Aliexpress with No Start Up Money or Capital
Learn how to dropship from Aliexpress so that you can dropship WITHOUT any startup money or capital! Get 10k/month ebook: http://wholesaleted.com/4-step Learn how to create a store: https://www.youtube.com/watch?v=vQzy6rtGs3Q Get Alipartnership: http://wholesaleted.com/go/alipartnership Please note: this description contains affiliate links In my last video I taught you how to open your own ecommerce store using Wordpress and Woocommerce: https://www.youtube.com/watch?v=vQzy6rtGs3Q In this video I’m going to teach you how to dropship from Aliexpress to source items for your new store. QUESTION: What is Aliexpress? ANSWER: Aliexpress is a website that lists Chinese suppliers who are willing to dropship their products internationally for very low prices. It’s a great place to source items for your store. QUESTION: Why do I not need any startup money or capital? ANSWER: If you follow the instructions I outlined in my video (https://www.youtube.com/watch?v=vQzy6rtGs3Q) and create your store using Wordpress and Woocommerce, you’ll be accepting payments using PayPal, which means you get the money the customer pays straight away, unlike Amazon who hold your payment for 2 weeks. All you need is $24 for a 1-year domain & hosting registration! QUESTION: How do I dropship from Aliexpress? In this video, I show you an example of someone who is doing this, Yaro. He has offered up his store, World of Harry, as a public case study of how to build an Aliexpress dropshipping store. All you need to do is follow the simple strategy that he (and tonnes of others) use: 1. Create a store around a niche (his niche is Harry Potter). 2. Find products on Aliexpress related to your niche. 3. List them in your store for a higher price than what you’re buying them for. Make a note that shipping will take 3-4 business weeks. 4. When someone purchases the item from you, go to Aliexpress and purchase the item. Have it sent directly to your customer. 5. Profit! If you’re wondering how to dropship from Aliexpress that’s it - it is that simple. QUESTION: Wait, these are long shipping times - will the customer be willing to wait that long? ANSWER: Yes! Because you aren’t selling your item on a competitive, public marketplace like Amazon, customers can’t compare your prices/shipping times to the competition. When they enter your store, YOU set the expectations. That is why you can’t dropship using Chinese suppliers on Amazon, but you can in your own store. Tip #1 to help you learn how to dropship from Aliexpress: Use the Aliexpress affiliate program Aliexpress has an affiliate program. This means you can promote products on Aliexpress using a unique URL, and if someone buys an item after clicking on your URL, you will get a small commission cut. Buy the items your customers purchase through your own affiliate link for additional profits. This can add up to hundreds of dollars! Yaro has developed a Wordpress plugin to make this easy, and it is called AliPartnership. Check it out here: http://wholesaleted.com/go/alipartnership Tip #2 to help you learn how to dropship from Aliexpress: Ask the supplier to NOT include a packing slip, invoice, pricing or samples. Because the sellers on Aliexpress are SUPPLIERS and not retail stores, they know that their items are being dropshipped. That is why most suppliers will by default not include and pricing/slips/samples with their packages, so that the packages are blind and the customer does not know where they originally came from. That is why this is called “blind dropshipping.” However, it is always safest to ask each supplier with each order to not include these details with the order anyway. This way the customer won’t know where it came from. Tip #3 to help you learn how to dropship from Aliexpress: Avoid selling items that infringe on copyrights. In this video, I used World of Harry as an example, as Yaro has generously offered it up as an open case study. However, I would NOT suggest that you go and copy his store. Why? Because it is infringing on copyrights. In this tutorial, I don’t just want to teach you how to dropship from Aliexpress for short-term profits: I want you to make long-term profits. Pick a product/niche that doesn’t infringe on any copyrights for evergreen money. And that is our tutorial on how to dropship products from Aliexpress without any startup money or capital. Watch our video to learn how to set up your store: https://www.youtube.com/watch?v=vQzy6rtGs3Q
Views: 425021 Wholesale Ted
3 Ways to LOSE MONEY when Dropshipping with Aliexpress
Discover the 3 ways newbies LOSE MONEY when Dropshipping with Aliexpress. ►► Free $10,000/Month ebook: http://wholesaleted.com/4-step ►► Related Video - 3 Things Gurus Don’t Tell You: https://youtu.be/fnCiYMQizrU In this video, we discuss 3 ways that newbies often lose money with their dropshipping businesses. These are: Way #1: Handling refunds wrong - 0:58 (click to skip ahead) Way #2: Picking the wrong suppliers - 6:55 (click to skip ahead) Way #3: Being lazy with scarcity timers - 9:21 (click to skip ahead) Way #1 that Dropshippers are Losing Money: Not Handling Refunds as a Dropshipper Correctly A common question that we get asked here at Wholesale Ted is how to handle refunds when dropshipping. In the past, we’ve given some lazy advice on this issue. We want to correct it in this video so that our viewers don’t lose unnecessary money. If you handle refunds wrong, you risk being scammed by false refunders. These are people that get an item in excellent condition, but that try and claim that it arrived damaged and ask for a refund. They hope to get their item for free. To try and bully you into giving it to them, they’ll threaten you with things like chargebacks or paypal disputes. Here is the solution to overcome false refunds: #1: Only allow refunds for faulty products #2: Require the customers to mail the products back to you at their expense Requiring a customer mail an item back to you at their expense is standard for the online retail industry. Shopify have a refund policy that you can auto-generate and use. In it, it requires that a customer mail the item back to you. The Shopify refund policy also states that the customer is expected to pay for the return shipping, and that a refund will only be issued once an item has been inspected. If you live outside of the USA, this is tricky because it is not industry standard to require a customer to have to mail an item to another country to get a refund (as that would be extremely expensive). What you can do it get a free Shopito address (or something similar) and use this as your return-to address. If a customer sends an item to it and it arrives, the chances are that it is actually faulty (since they bothered to pay for the shipping and spend the time to return it) and you can issue them a refund. If you live in the USA then you can inspect it and issue a refund if found to be faulty. You can then list it on eBay to recoup costs or sell it in second hand stores. We do NOT suggest using the Aliexpress return policy as that would require you to ship the item back to the Chinese supplier which is not cost-efficient. Way #2 that Dropshippers are Losing Money: Picking the Wrong Suppliers If you use a lot of different suppliers on your store, then you risk a customer purchasing multiple items from different suppliers. If they do this, then their items will arrive in separate packages. This is not the end of the world. Thanks to Amazon normalizing this, you can tell the customer that the items are going to arrive in different packages to expedite the shipping process. If you warn the customer in-advance, then it is usually fine. But even though you can get away with it, customers prefer to have their items arrive in a single package. That is why you should try and use as few suppliers as possible in your store. In addition, you should try to use the same suppliers for both front-end products and upsells. Prioritize sellers that are selling multiple related items, even if they cost more. Way #3 that Dropshippers are Losing Money: Being Careless with Scarcity Timers When you are promoting items in your store with Facebook ads, a key way to get customers to buy then-and-there without price-checking it against other stores (like Amazon) is to use scarcity. Scarcity is saying things like “hurry - this item is 50% off, but only for the next 1 hour.” Now that isn’t true since you’ll just be “repeating” the sale over-and-over again, but that false scarcity works and isn’t just used by dropshippers: large retailers do it too. One way to encourage scarcity is to use a scarcity timer. There are several apps for Shopify which do this. And they work great - until you abuse them by putting them on every single page. If you do this, then when customers browse through your site, they’ll see that all products have them - and the illusion of scarcity will be ruined. The customer won’t trust you and you’ll lose the sale. To solve this, be sure to do 1 of 2 things with scarcity timers: #1: Strictly limit which pages you put them on. #2: Put them on pages not accessible by customers browsing your site. Those are our tips for you. Thanks for watching!
Views: 60794 Wholesale Ted
How to Hire a Virtual Assistant - How to Use Upwork & OnlineJobs.ph when Hiring VAs ($3/HOUR)
Step-by-step tutorial on how to hire a virtual assistant & how to use Upwork & OnlineJobs.ph when hiring VAs. Onlinejobs.ph: http://wholesaleted.com/go/onlinejobsph Free ebook: http://wholesaleted.com/4-step How to make passive income video: https://www.youtube.com/watch?v=NlgCkmappIg In this video, we are going to give you a step-by-step tutorial which will teach you how to hire a virtual assistant. We are going to show you how to use Upwork when hiring VAs, and how to use OnlineJobs.ph. Virtual assistants (otherwise known as VAs) are remote employees that you can hire from anywhere in the world. When people hire VAs, they usually have two questions: 1) What websites should you use when hiring VAs? 2) When countries should you hire virtual assistants from (the answers here may surprise you!) Question #1 on how to hire a virtual assistant: What websites should I use to hire virtual assistants? We have two websites that we use when hiring VAs: Upwork & OnlibeJobs.ph. Here is a quick tutorial on how to hire a virtual assistant on Upwork: ***Posting a Job on Upwork*** 1) Sign into your account and click “post job.” 2) On the job listing page, the first thing you’ll need to do is select the type of job you are posting. When you are hiring a VA I recommend starting with a fixed-term contract. This let’s both you you see if you like working together. You can then move to a permanent job from there if you want to. 3) Select the category of what the job will be. 4) Write a job title. Make sure this is very detailed. 5) Write a job description. Again, the more descriptive, the better. 6) You can add an attachment to your listing. One thing we like to do is do a screen capture video to show what tasks need to be completed, and then add that to the listing. 7) Select how many freelancers you want to hire. Our recommendation is you only 1 when you are first getting started. 8) Select what type of project it will be. We recommend selecting fixed-term when first working with a VA and then moving to a permanent position from there. 9) Select how you will pay the VA. For a fixed position, you will usually pay a fixed price. For a permanent on-going position, you will usually pay by the hour. 10) Select what experience level you are looking for. The hourly rate listed under each experience level is only relevant for USA-based VAs, so ignore them. I recommend selecting intermediate-experienced. 11) Select how long you expect the job to last. For fixed term jobs, it is usually 1-4 weeks. 12) Note down the expected time commitment. 13) Select the box that says that only freelancers on Upwork can find your job. This stops your competitors from finding your jobs. 14) You can select qualifications, although it is an optional section. 15) We recommend selecting it so that applicants are required to include a cover letter. And that’s it - post your job, and you’re done! Here is a quick tutorial on how to hire a virtual assistant on OnlineJobs.ph: ***Posting a job listing on OnlineJobs.ph*** 1) Sign into your account and click “post job.” 2) Add a descriptive title to your listing. 3) Add a detailed job description. 4) Type in what the payment will be. I recommend using either USD or PHP. For a fixed-term contract, type in a fixed price. For an on-going job, type in an hourly rate. 5) We recommend requiring an ID score of at least 70. 6) Select the skills required. We recommend requiring written & verbal English skills. 7) Type in your email address & name. And that’s it! You’re done. Question #2 on how to hire a virtual assistant: What country should I hire my VA from? There is no country that is “better” than the other. If you are hiring from an anglo-European country be prepared to pay much higher prices as the median salaries are very high. Most people want to know how to hire a virtual assistant for the lowest cost possible. These are the most common countries to hire from: * India: Median salary is $620 USD a month. * Philippines: Median salary is $570 USD a month. * Pakistan: Median salary is $480 USD a month. * Sri Lanka: Median salary is $400 USD a month. Our personal preference is to hire virtual assistants if we can from the Philippines because the time zone is closest to our own so our work days overlap. But you may find that your timezone matches better with someone based in say, Pakistan. English is also widely spoken in the Philippines, so a higher density of applicants are fluent in it, which makes the hiring process easier. But you may find the right VA in another country. There is no “right” or “wrong” country. One last piece of advice on how to hire a Virtual Assistant: Treat all of your employees well. Your employees will make or break your business. Be a great boss!
Views: 52378 Wholesale Ted
My Struggle With Money, Depression & Anxiety (Does Money Buy Happiness?) The Hedonic Treadmill
QUESTION: Does Money Buy Happiness? The short answer: It can. The long answer? It can - but if you're not careful, it can have the opposite effect. ►► Watch this to learn more: https://www.youtube.com/watch?v=juO4zxsjSjw It’s a scientific fact that spending money on material things doesn’t make us happy. However, using your money to buy back your TIME allows you to spend more time with friends, family and pursuing hobbies. This means spending money on things like: Hiring a cleaner Hiring someone to mow the front lawn Having a chef prepare your meals Hiring a nanny to take care of your kids Buying back our time allows us to focus on the things we truly LOVE. And this has a direct, positive impact on happiness. QUESTION: Why Do Billionaires & Athletes Get Depressed? This can be explained using the hedonic treadmill as an example. You see, this is the scientifically observed tendency where all of us quickly return to a stable level of happiness. For example: If you won the lottery tomorrow, you’d get a HUGE boost of happiness. You’d be super happy. But eventually, you’ll return to your previous, baseline happiness level. Long-term it doesn’t matter. Most athletes and entrepreneurs fall into this trap. After reaching a goal, they enjoy the rush of happiness and achievement. After a while though, that goal becomes normalized, so they try and reach bigger goals to achieve that sense of happiness again. What we’re really doing (without realising), is associating success with happiness. And this is where we get trapped running our own hedonic treadmill. This is dangerous. You may have noticed that in the entrepreneurial community, there is a LOT of peer pressure to be always working. Always hustling. HOWEVER, this mindset can eventually result in something that is the total opposite: BURNOUT. A Swedish study showed that when we work, we fire different neurons in our brain. So of course, the more work we do, the more we engage them. However, doing this too much leads our brain to try and work more efficiently. So, it goes into survival mode and starts to rewire your brain so that your neurons start fire TOGETHER. This means it becomes harder to access different parts of your brain, such as the parts involved problem solving, focus, and emotional reasoning. QUESTION: How Can You Experience Happiness Every Day? While we get a big dose of happiness when something big happens, science has also shown that little things make us almost just as happy. For example: Eating a nice apple Giving someone a hug Exercising and treating your body right Drinking a nice cup of coffee The difference though, is that the happiness boost from these little things doesn’t last as long as the big ones. So, the key is to add lots and lots of these nice, little things into your life every day. Indirectly, this is also a sense of gratitude: The quality of being THANKFUL. And is an awesome way of experiencing genuine happiness from the INSIDE OUT. Rather than the outside in.
Views: 31546 Wholesale Ted
5 Mistakes I Made on Amazon when I First Started Selling (that cost me $10k in lost sales!)
In this video, I reveal the 5 mistakes I made on Amazon when I first started selling. ►► Free Ebook - $10,000/Month Online: http://wholesaleted.com/4-step When I first began, there were 5 mistakes I made on Amazon that I estimate cost me at least $10,000 in lost sales. Read on to find out what they are so that you can avoid them too. MISTAKE 1: I didn’t focus on items with high profit margins. I was very eager to get started when I first began selling and was keen to just get sales wherever I could. This resulted in me spending a lot of time fulfilling orders that were only making me a few dollars per sale, which was not worth it. When dropshipping and wholesale selling, it takes the same amount of time to fulfil an order that’ll make you $5 compared to an order that’ll make you $20. The one exception to this is Amazon FBA. Using the Amazon FBA (Fulfilled by Amazon) program you can have a hands-off approach to order fulfillment which means you can sell items that only make you a few dollars per sale. This was the first of the 5 mistakes I made on Amazon. The second mistake was.... MISTAKE 2: I didn’t engage in any price competition Price competition is normally a lose-lose situation for all competitors because all you do is drive down the price, with neither of you coming out on top. However, while this is NORMALLY the case, it isn’t always the case. If a competitor isn’t watching their listing closely, you can oftentimes get away with undercutting them by a few dollars without them noticing, which gives you an edge. I wish I had tried to engage in price competition for items where my competitors weren’t paying much attention. Not engaging in price competition was the second of the 5 mistakes I made on Amazon. The third mistake was… MISTAKE #3: I thought I couldn’t compete with other sellers with more feedback Everyone has to start somewhere, and you have to start out initially with no feedback. But don’t let this scare you: Feedback is valuable because it establishes credibility with the buyer. But there are other great ways to establish credibility too, including: * Getting a logo for your business * Writing a superior product listing than your competitors * Getting a business website I shouldn’t have been so afraid to compete with other sellers, which makes that the third of the 5 mistakes I made on Amazon when I first began selling. The next one was… MISTAKE #4: I didn’t ask my buyers to leave a review Did you know you can contact your Amazon buyers? Well, you can. And guess what you should be doing (that I didn’t do). You should be asking them to LEAVE YOU REVIEWS! Reviews aren’t everything, but they are an important part to growing your business in the long-term. I shouldn’t fought hard for every review I could get. Me not emailing my customers for reviews with the 4th of the 5 mistakes I made on Amazon. My fifth and final big $10k mistake was... MISTAKE #5: I only sold items that were already available on Amazon Sometimes dropshippers are going to have fantastic items that you can list yourself and compete against existing products in markets. I was too afraid to create my own listings, and I left a lot of money on the table by being afraid to do this. In addition, with Amazon FBA you have an amazing opportunity to go out there and purchase products in bulk from China, label them with your own branding and then resell them on Amazon (letting them handle the fulfillment process with Fulfilled by Amazon). Don’t be afraid to do this yourself, it is extremely profitable. Not doing this was the final of the 5 mistakes I made on Amazon as a new seller. In fact, selling your own items is something that we teach in our free ebook: How to Make $10,000 a Month by Dropshipping. Download our free ebook now: http://wholesaleted.com/4-step
Views: 486866 Wholesale Ted
7 Things You Need to Do BEFORE Launching on Amazon (and selling with Amazon FBA)
Learn the 7 things you need to do BEFORE launching on Amazon with FBA. ►► DOWNLOAD: Free $10,000/Month ebook: http://wholesaleted.com/4-step ►► WATCH: How to Launch Your First Product: https://youtu.be/JPwscpE-53g ***Other Links Mentioned in this Video*** ►► Sales Tax Obligations: https://www.youtube.com/watch?v=P9aBe9sFWJs ►► Get Jungle Scout: http://wholesaleted.com/go/junglescout (affiliate link) ►► Get Jump Send: http://wholesaleted.com/go/jumpsend (affiliate link) Before Launching on Amazon - Have a Launch Plan to Get Sales On Amazon, the vast majority of sales come through people typing in items they want to purchase into the search bar and then picking an item to buy from the list. That is why if you want your product to sell well on Amazon, you need to have a plan for how your listing is going to get on the first page of results. The most important factor for how Amazon chooses which items go there is something called “sales velocity.” They will greatly favour items that are making the most sales. What you need to do then is use Jungle Scout to find out how many sales your top competitor is making, and then beat them for 2 weeks. To do this, you’ll need to have a plan in-place for how you’ll match their sales (discount coupons are the most common strategy for this). Before Launching on Amazon - Take Incredible Photos of Your Product Sales velocity is the most important factor when Amazon chooses which products to promote, but there is another - conversions. The higher your conversion rate, the more likely Amazon is to promote your products. Amazon have tested it and found that product photos are the #1 conversion factor. So get a test product sent to you and have professional photos taken of your product. Before Launching on Amazon - Get Friends & Family to Buy Your Product Another important conversion factor is reviews. Luckily you don’t need to have hundreds of reviews to make organic sales, but having a base of 10+ reviews is a good start. The easiest way to get reviews is to get your friends and family to buy your product and to then leave you a review. In addition, get your friends and family to search for your targeted keyword on Amazon, scroll through the item listings and THEN buy your product. This will send a strong signal to Amazon that they should rank your product for that keyword. Before Launching on Amazon - Have a Plan to Get Reviews from Customers A big reason why you should get your friends/family to leave a review is because anonymous customers rarely leave reviews. If you do not have a plan in-place to get reviews from customers, the conversion rate of purchase-to-review is less than 1%. However, if you have an email sequence in-place (Jump Send is a great way to do this) asking customers to leave a review, you can more than double your conversion rate. Before Launching on Amazon - Form a Limited Liability Company (LLC) To starting selling on Amazon, you DON’T need to legally form a company. You can start selling immediately as a sole proprietor. However, we strongly recommend that you consider forming an LLC because it protects you in-case anybody tries to sue you since it gives you “limited liability.” What this means is that creditors can’t go after you personally if your company gets sued. It isn’t necessary to form an LLC, but it’s the safe thing to do. Before Launching on Amazon - Have a Back-up Cash Plan When you sell on Amazon, you do not get paid straight away from your customers. Instead, Amazon holds your money for 2 weeks as a new seller. This means that you need to be able to pay for expenses in the meantime and not rely upon the money that you have earned as a seller on Amazon. In particular, you want to have a plan in-place for how you will be able to pay for new inventory in-case your product starts selling well, as Amazon does not like it if you run out of stock, so you need to make sure you always have inventory in the FBA warehouses. Before you launch on Amazon then, make sure you have some way to pay for expenses (so have some cash set aside, or have a credit card). Before Launching on Amazon - Know Your Sales Tax Obligations Make sure you read about your sales tax obligations. Even if you don’t live in the United States, you may still be required to collect and pay sales tax within certain states. We have a video here on this channel which discusses what your sales tax obligations are, so that you don’t get an unexpected tax bill! Thanks for watching - if you have questions please leave them as a comment below.
Views: 75292 Wholesale Ted
10 Sales Psychology Hacks for Dropshipping Sales & Conversions
Learn 10 sales psychology techniques to make more sales & conversions when dropshipping. ►► Free $10,000/Month ebook: http://wholesaleted.com/4-step ►► Get Our Premium Step-By-Step Dropshipping Course: https://thedropshipclub.com ***OTHER LINKS REFERENCED IN THIS VIDEO*** Is Dropshipping a Scam: https://www.youtube.com/watch?v=2sB7ZiLRzG4 DO NOT Dropship These 5 Items: https://www.youtube.com/watch?v=afaknQqkiAw 10 Things to Do BEFORE Dropshipping: https://www.youtube.com/watch?v=YPKvNTly7Pg Start Dropshipping With $50: https://www.youtube.com/watch?v=ZY4HQKhRfpo Sales Psychology Hack #1: Use Percentage Discounts Over Number Discounts If you are dropshipping an item priced at $30, and then discount it to $15, you would have two options. You could say that the item is $15 off, or you could say that you save 50%. It has been shown that using the percentage discount in this case converts at a much higher rate. Why? Because even though it is mathematically the same discount, 50 is a bigger number than 15, so it makes the customer feel like they are saving more money. Sales Psychology Hack #2: Add a Reason for the Discount Customers are more likely to buy an item if they see a reason that it is discounted. The reason for this is because it increases the sense of urgency for the customer. For example, if an item is on sale at 50% off as a special easter sale, then the customer has another added element of scarcity: they know that when Easter ends, that the sale will disappear - and so it reinforces that they need to act now and not miss out. Sales Psychology Hack #3: Highlight Benefits, NOT Product Features When writing ad copy and your product descriptions, discuss how this product will benefit the customer’s life instead of talking about the features of a product. Benefits show the customer how the mug will directly improve their life. If you simply list features, then the customer has to take the time to see how these features will impact them. Do the work for them. Sales Psychology Hack #4: Use Jargon & Slang One of the challenges with dropshipping with Facebook ads is building trust between the potential buyer and you. And one way that you can do that is by including niche-specific jargon and slang in your product ad and descriptions. It shows that you are knowledgeable in the niche, and it builds a connection between you and your potential customers. Sales Psychology Hack #5: Paint Pictures & Overcome Obstacles with Photos Photos/pictures can do more than just show off the product. You can also use them to help the customer imagine themselves using the product - and use them to overcome objections they may have about the product (e.g. have a picture that shows the measurements of the product on it) Sales Psychology Hack #6: Use HD Photos that Customers Can Zoom In On Amazon.com have shown that if customers can zoom in on pictures, it noticeably impacts conversions. Customers like to see finer details of items that they buy, and it also makes your store look more professional - building trust between you and them. Sales Psychology Hack #7: Use Short Product Descriptions Usually, short product descriptions work best over long product descriptions when you are running paid traffic to the pages. Long page copy can be distracting for a customer that is in the mood to impulse purchase. This is why we recommend choosing either paid traffic or free SEO traffic to focus on: SEO traffic requires long product descriptions, which conflicts with this. Sales Psychology Hack #8: Use Trust Words & Emblems Another way that you can build trust with potential customers is by including words and emblems on your store from brands/things that people already trust. E.g. you can include credit card company emblems on your site (as you accept them as a form of payment). You can include USPS as ePacket items are delivered via USPS. You can post SSL certificate images (if your site has one installed). And you can highlight certification certificates if the product you’re selling has been approved by one, like the FDA. Sales Psychology Hack #9: Use Emotive Words If your product ad and description, use words that will evoke feelings in a customer. One good feeling to evoke is the feeling of getting a great deal (words that can do this include limited, hurry, slashed, massive and bonus). Another good emotion is curiosity (words that can do this include special, surprise, odd, bizarre and trick). And the final emotion to focus on, is the feeling of looking good (words that do this include gorgeous, stunning and elegant). Sales Psychology Hack #10: FREE is the Most Powerful Word Of All The tried and true technique of selling items for free + just pay shipping still works great. The word “free” is extremely powerful. This technique has been used for years. It’s not always suitable for your promos, but if you get a chance to try it, do it and see your conversions increase.
Views: 46152 Wholesale Ted
Shopify vs. Woocommerce - Best Ecommerce Platform in 2018? (+ Oberlo vs. AliDropship!)
In this video, we compare Shopify vs Woocommerce (and look at Oberlo vs. AliDropship!). ►► Free Ebook - 6 Steps of a 6 Figure Dropshipping Store: http://wholesaleted.com/4-step ►► Shopify Dropshipping Step-By-Step Tutorial: https://youtu.be/bXczHKgPdrw ***OTHER LINKS REFERENCED IN THE VIDEO*** ►► Woocommerce Dropshipping Step-By-Step Tutorial: https://youtu.be/3yamuri8czM ►► Get Shopify: http://wholesaleted.com/go/shopify (aff link) ►► Get AliDropship: http://wholesaleted.com/go/alidropship (aff link) ►► Get SiteGround http://wholesaleted.com/go/siteground (aff link) In this video, we’re going to answer the following questions: 1) Which requires the least start-up money: Shopify or Woocommerce? 2) Which will cost the most money in the long-term: Shopify or Woocommerce? 3) Which is cheaper, Shopify or Woocommerce, for opening multiple stores? 4) Which is the easiest for beginners to use, Woocommerce or Shopify? 5) And which has the best dropshipping plugin, Oberlo or AliDropship? #1: Which Requires the Least Start-Up Money? With Shopify, to get started, you need $29 for the monthly Basic subscription, which is perfect for most people. You can also purchase a domain name with Shopify which costs $14. In total, that means that you will need $43 to open a store with Shopify. Now let’s compare this to Woocommerce. On the surface it seems like it would be free, because Woocommerce is a free plugin for Wordpress. However, you still need to purchase hosting and a domain name. For hosting, we recommend SiteGround as it is low-cost yet still has an SSL certificate (a requirement for all ecommerce stores). You need to purchase a 1-year subscription which will cost $47.40. And you can purchase a domain name through SiteGround for $15.95. That means to get started you need $63.35. So, clearly, Shopify is the winner here. NOTE: You can purchase a cheaper domain through a site like Namecheap, but for beginners we recommend buying it through your hosting provider as it’ll make the setup process easier. #2: Which is the Cheapest in the Long-Term? While Shopify is cheaper to get started with, Woocommerce is easiest the cheaper in the long-term. With Woocommerce, your hosting is likely to be a 1-year plan. SiteGround’s basic plan is $47.40 for an entire year. On the other hand, Shopify’s $29 plan is a monthly charge. That means for 1-year with Shopify, you will pay $348. You can choose to pay upfront for 1-year for a 10% discount, which will bring the price down to $313.20 - but that is still substantially more than a Woocommerce store! #3: Which is the Cheapest for Multiple Stores? With Shopify, each store plan covers just 1 store. So to open up a new store, you will need to purchase an additional plan. With Woocommerce & SiteGround, while the smallest $3.95/month plan will only host a single website, you can instead choose their GrowBig plan which will let you host multiple websites on a single account. The GrowBig plan will cost $5.95 billed annually, which means that for 1-year you’ll pay just $71.40 to host as many websites as you like. Starting multiple stores with Woocommerce is definitely cheaper. #4: Which is the Easiest for Beginners to Use? Shopify revolutionized the world of ecommerce by creating an extremely streamlined, easy-to-use platform to build a store with. A big part of why it’s so easy to use is that Shopify was designed with the single purpose of making ecommerce stores easy to create - Shopify does nothing else, so the UI is designed around that sole purpose. It also means that it is largely glitch-free. On the other hand, Woocommerce is far more clunky. The reason for this is that it’s a plugin for Wordpress, a software platform that was designed to make blogs: not ecommerce stores. When you install Woocommerce on a Wordpress site, you are adding ecommerce functionality that was not intended to be there. What this means is that not only do you have additional blog-functionality bloating the UI (which could also be potentially confusing for beginners) but Woocommerce is more likely to be glitchy and not integrate well with Wordpress/other plugins/themes because its an add-on. #5: Which Has the Best Aliexpress Dropshipping App: Oberlo or AliDropship? While we think that AliDropship is a remarkable plugin for Wordpress/Woocommerce stores, our preference is definitely Oberlo for Shopify. The reason for this is that Shopify actually acquired Oberlo in 2017 which means that it’s now an official, support app for Shopify. As a result, Oberlo is virtually glitch-free and integrated extremely smoothly. On the other hand, AliDropship is a plugin for a plugin for Wordpress. What that means is that Wordpress is not designed with AliDropship in mind, and so you are adding additional functionality to it. This means that you are far more likely to encounter glitches/AliDropship not working or integrating with other plugins/themes.
Views: 20263 Wholesale Ted
Will Donald Trump's War KILL Dropshipping & Amazon?! (Why Chinese Products Are So Cheap)
Will Donald Trump's escalating Trade War with China kill dropshipping & Amazon FBA?! ►► Free eBook - 6 Steps to a 6 Figure Store: http://wholesaleted.com/4-step ►► Join The Dropship Club Now: https://thedropshipclub.com PLEASE NOTE: This channel is politically neutral. We will not talk about any political opinions on it. The comment section however is free for you to sound-off your opinions. WHAT is a Trade War? For those who don’t know: It’s when Country A increases tariffs (import taxes on products imported from country B) to discourage people from importing them in the first place In retaliation, Country B increases their tariffs (import taxes on products that they buy from Country A) Which becomes a back-and-forth retaliation. This is China and USA’s current situation. On June 15th, Donald Trump declared that the US would impose a 25% tariff on $50 billion dollars’ worth of Chinese imported goods in response to unfair trading practices. This was enough to kill profit margins for many sellers - and potentially kill a lot of businesses. Trump also added if China responded with their own tariffs the US would impose 10% tariffs on an ADDITIONAL $200 billion dollars’ worth of Chinese imported goods. China responded pretty much immediately by imposing their own similar tariffs on US imported goods. Which has now locked both countries into an economic battle. So, what does this trade war mean for YOU as an online seller? It’s a common assumption that products are cheap in China due to cheap slave labour. And while there’s some truth in this, working conditions have MASSIVELY improved. For example: The Pearl River Delta region of China - notorious for the production of big brand toys - used to have terrible conditions between the 90s - 2000s that left many workers injured. This is much different today where enormous labour reforms have been put in place to protect the rights of the workers. Due to this, the cost of labour rose, but still remains cheap for online sellers to source products from China. How is this so? *THE BELT ROAD INITIATIVE* For those who don’t know, this is: China’s development strategy to create roads, train tracks and shipping ports that connect to Europe, Asia and the Middle East. The Silk Road Economic Belt - a series of 6 land corridors - contains roads and train tracks to connect China to a slew of countries. The dark side to this development was its funding strategy. In the past, China loaned $8 billion dollars to a country you’d consider “too risky” to loan - Sri Lanka. China knew they most likely WON’T pay this back, but they didn’t mind. They instead used this debt to further their Belt Road Initiative. As a result of not being able to pay the debt, the Sri Lanka government made a compromise: They would give them a 70% stake and a 99-year lease of their shipping port, Hambantota, which had been built with money they had initially borrowed from China. This made it cheaper and easier for China to export its goods around the world AND import key raw materials, like oil and iron ore. They then turn these raw materials into goods and export them back out again. As a result, this infrastructure network lowers the cost of producing goods, hence why we all import from China. So why don’t online sellers need to worry about this Trade War? Well first, China is king of producing common, everyday goods. In fact, the majority of goods imported by the US from China fall under the bracket of “everyday goods” - like electronics, clothing and kitchenware. And it’s these goods that are similar to what most online sellers focus on. But Donald Trump has NO INTENTION to compete with China over these. He doesn’t care about manufacturing everyday goods. What he’s interested in, is competing with China with HIGH-TECH GOODS. High-tech fields like robotics, automobiles, and pharmaceutical products are currently dominated by other countries, including the United States. And THIS is what Donald Trump’s tariffs are all about. NOT the types of items most small online sellers import and sell. Remember back at the beginning of this video when I talked about how the US has imposed 25% tariffs on billions of dollars of Chinese imported goods? The vast majority of these products include raw materials and industrial goods used in high-tech industries. Dropshipper and Amazon FBA sellers don’t sell these types of goods. And the vast majority of products they DO sell aren’t even on the list. Besides this, import packages need to exceed $800 to be even eligible for tariffs. An amount that most importing packages online sellers make never exceed. Additionally, the $200 billion dollar worth of goods that Trump threatened to target in retaliation isn’t much of a threat to online sellers. The majority of products on the list are related to high-tech fields, raw materials or food (which again, has nothing to do with online sellers).
Views: 25191 Wholesale Ted
Weird Dropshipping HACKS that Make Money [Facebook Ad Tricks]
Learn the 3 weird dropshipping hacks that make money with Aliexpress dropshipping. ►► Free $10,000/Month ebook: http://wholesaleted.com/4-step ►► Video interview with Fred (who taught me hack #2): https://youtu.be/fKSalHjKhjc Dropshipping hack #1: Facebook Video Demo Ads When we teach most people how to set up a dropshipping store, we recommend that they get started with image ads. Not because image ads perform the best, but because people are less intimidated by them. It’s the pathway of least resistance. If you are willing to put in effort and create a video ad, Facebook will reward you with very cheap advertising, which will greatly improve your conversions. You can create simple videos by taking the images your suppliers have provided and putting text over them. Even better though, is to create a video demo ad. This is when you take a video of you/someone else using the product in-action. To do it, all you need is the product yourself, and a camera - a smartphone will be fine for this. You don’t need a professional camera. As an example, in this video Sarah created a simple video demo ad of an item that we’ve featured regularly on this channel: the self-stir mug. The video Sarah replicated had amassed over 9 million views on Facebook over its ad campaign. It was very easy and took less than a minute to film and set up. Dropshipping Hack #2: Change Ad Budgets Just After Midnight The Facebook algorithm is very smart - which is why it is very easy for newbies to have success with Facebook ads. The algorithm works to try to put your ad in front of the right people that are most likely to convert and purchase your products. It also tries to figure out how to best use your ad budget across the day. So if you go to scale your campaign by raising the ad budget midway through the day, it disrupts the algorithm. Normally, the algorithm spends your daily budget across the whole day, testing to see what times of the day people are most interacting with your ad and converting. If you change the ad budget midway through the day, Facebook scrambles to try and spend your new advertising budget by the end of the day. That means that it doesn’t get to test it across a whole 24-hour period, so it spends it inefficiently - and thus collects inefficient data, negatively impacting your campaign. The solution is to increase your ad budget just after midnight. This way, the Facebook algorithm has the entire day to test the ad budget and collect accurate data. However - not everyone wants to stay up until midnight just to update their ad budgets (I understand that!). What you can do is when you create your Business Manager account in Facebook, set your timezone to be one that is ahead of you. For example, if you live in California, you would be on Pacific Time. You could set your timezone to be Eastern Time, so that it would be 3 hours ahead. That means you could update your ad budgets at 9pm instead of midnight. Dropshipping Hack #3: Sell Digital Products to Your Customers Most dropshippers don’t even think about selling digital products like ebooks/videos etc. They only think about selling physical products to their customers. This is a big mistake though, as digital products can have HUGE profit margins since they have less overhead costs, which means that merchants for digital products often pay out generous commissions. What this means is that you can dropship physical products from Aliexpress as a way to collect email leads. You then send out emails to those customers promoting digital products. In this video, Sarah gives the example of Numerology.com - they have custom destiny readings that they sell to customers after they have received a small, free destiny reading based on their date of birth. This funnel (a free report into a paid, in-depth report) converts very highly. In addition, they offer 65% commissions. So if you were dropshipping products related to Astrology, you could send follow-up emails to your customers recommending that they get a free destiny reading from Numerology.com and redirect them there with your affiliate link. This would be very profitable! So don’t think that you can only sell your dropshipping customers physical products. Check to see if there are any good affiliate programs in your niche for digital products and take advantage of the big commission rates (plus you won’t have to worry about shipping out the items/fulfilling the orders either!).
Views: 104476 Wholesale Ted
Launching Private Label Amazon FBA Products: 5 Things You Need to Know
Discover 5 things that you need to know about launching private label Amazon FBA products. ►► Free $10,000/Month ebook: http://wholesaleted.com/4-step ►►How to Launch Your First Amazon FBA product: https://www.youtube.com/watch?v=JPwscpE-53g A lot of people focus on the initial research stage of private labeling… and don’t think about the market and launch. In this video, we’re going to discuss 5 things you need to know before launching private label Amazon FBA products. ***OTHER LINKS DISCUSSED IN THIS VIDEO*** ►► Get ZonPages: http://wholesaleted.com/go/zonpages (SAVE 15% WITH EXCLUSIVE COUPON CODE “WHOLESALE”) ►► Jungle Scout 2017 tutorial: https://www.youtube.com/watch?v=8rMIW8zKptI ►► Jungle Scout 2016 tutorial: https://www.youtube.com/watch?v=6MhEPyWKE-U ►► How to Find Suppliers: https://www.youtube.com/watch?v=WTZFMEDyvYk ►► Get Jungle Send: http://wholesaleted.com/go/jumpsend #1: The Most Important Thing to the Amazon Algorithm is Sales There are several factors that make up the Amazon search algorithm such as conversions, reviews and list relevancy. But the most important, number 1 factor, is sales. What Amazon wants to see is that your sales match (or beat) your top ranked competitor for your chosen keyword. Launching private label products is a unique business model, as most digital businesses are built on paid traffic. Matching your top competitor when you just launch can be challenging, but there is a quick “cheat” method to help you do so - product giveaways. This is when you create a discount coupon code that discounts an item down to just 99 cents. You then give this coupon away to people. When they use the coupon to buy the item, it counts as a sale. #2: Don’t Be Afraid to Spend Money to Make Money The most successful sellers who are launching private label products on Amazon FBA aren’t afraid to spend money because they know they’ll make it back in organic sales. Product giveaways are expensive, but they have big rewards from the organic traffic gain from ranking your product fast in the Amazon search engine. #3: The Minimum Order Quantity Isn’t Always the Best When launching private label products on Amazon FBA, if you can start with the minimum order quantity from a supplier, then this is the best thing to do because it minimizes your risk. But sometimes, the minimum order quantity isn’t enough to match the demand from your buyers. This is especially important if you are going to run a product giveaway to match your competitors sales velocity. You need to check how many sales they are making every week, and ensure that you have enough inventory to match those sales. #4: Be VERY Careful with Price Competition One marketing strategy when launching private label products on Amazon FBA is price. It’s not a bad thing, but it’s an advanced technique most new FBA private labellers should stay away from: 1) You risk getting into a pricing war. You lower your price, so your competitor lowers their price, so you lower your price. The only person that wins in a pricing war is the customer. 2) It’s often unnecessary. Your competitors in the market have already tested the prices for you, and have found what is called “market equilibrium.” This is when the price matches the demand. 3) You risk losing sales because of perceived value. Lowering the price psychologically lowers the value of your item. The safest place to price your items is somewhere in the middle. Not the most expensive, not the cheapest - somewhere in the middle. #5: Follow Up Emails are KEY for Getting Reviews Reviews are key for launching private label products on Amazon FBA. To get reviews you need to send emails. If you don’t follow up with the customer, your conversion rates can be as low as 2-3%. But a simple 3-email sequence can bump it up to over 10%. Here is a good 3-email sequence to follow when launching private label products on Amazon FBA: 1) Send the first email to the customer when their order is shipped. This builds anticipation and it also shows that you care about them as a customer since you are keeping them informed. 2) Send the second email a couple of days after the product has been delivered. Ask them to please leave a review. Another important thing to ask is for them to email you if they are having problems before they leave feedback. This should stop most negative reviews. 3) Finally, send them the first email a week after the product has been delivered. Ask them to leave a review, and tell them it would mean a lot to you if they did. It is also important to ask them to contact you if they are having any issues before leaving feedback. Remember: it is against the terms of service to ask for a positive review. But it is not against the Amazon terms of service to ask for an honest review!
Views: 14024 Wholesale Ted
10 Free Woocommerce Plugins (WordPress Plugins that Increase Sales & Conversions)
Discover our top 10 free woocommerce plugins. These are our top must-have Wordpress plugins for ecommerce stores. FREE BONUS: Get our ebook which teaches you how to make 10k/month: http://wholesaleted.com/4-step How to Create an Aliexpress Store with WooCommerce: https://www.youtube.com/watch?v=Qih6gvJWXPI 6 Aliexpress Dropshipping Mistakes: https://www.youtube.com/watch?v=O_iYNVVDZuc Here are our top 10 free woocommerce plugins that we recommend for WordPress ecommerce stores: 1. Meta Slider 2. Smart Sale Badge 3. WordPress Currency Switcher 4. Stripe 5. Checkout Address Suggestion 6. WooCommerce Direct Checkout 7. WooCommerce Checkout MANAGER 8. Pricing Deals 9. MailChimp 10. WooCommerce Email Exporter #1 of our recommended WooCommerce plugins: Meta Slider Image sliders are not included by default with WooCommerce - but they are a great addition to a store as they look professional and are a fantastic way to showcase the products that you are selling to potential customers. A simple and easy plugin to use to add an image slider to your site is Meta Slider. #2 of our recommended WooCommerce plugins: Smart Sale Badge This simple plugin changes the sales badges on your website. By default the sales badges simply say “sale.” By installing this plugin the sales badges will now note how much money the customer is saving (for example - “Save $10”). This helps to make your sales badges look more exciting. #3 of our recommended WooCommerce plugins: Wordpress Currency Switcher This free plugin allows the customer to switch between two currencies so that they can see how much an item will cost them in their currency. If you want to be able to switch between more than two currencies, you’ll need to upgrade to the premium plugin. #4 of our recommended WooCommerce plugins: Stripe Stripe is a fantastic free plugin that allows you to accept credit card payments within your website. By accepting payments within your store, you will increase your conversions - which means that you’ll make more sales and money. While the plugin is free, you will still need to pay transaction fees. For each sale, you will need to pay 2.9% plus a 30 cent fee per transaction. To use Stripe, you will need to have an SSL certificate on your website as this is a requirement to accept credit card payments on a domain name/site. This is an additional cost to the web hosting/domain purchase. If you don’t want to pay for this additional purpose, you can accept PayPal payments without an SSL certificate. #5 of our recommended WooCommerce plugins: Checkout Address Suggestion When you install this plugin, it will make it so that when the customer is typing in their address details in the checkout page, it will use Google Places to suggest potential addresses. If the customer clicks on one of the addresses, it will autocomplete their address form. This has two benefits: 1) It reduces typing errors, which decreases the chances that the item will be shipped to the wrong address. 2) It will decrease cart abandonment by speeding up the checkout process. This will decrease cart abadonment and increase sales (which is why other sites like Amazon have implemented this feature in their checkout). #6 of our recommended WooCommerce plugins: WooCommerce Direct Checkout Usually when a customer adds an item to their cart, they will then be taken to the cart page. From there, the customer can then choose to go to the checkout page. This plugin lets you change it so that the customer will be automatically directed to the checkout page. This speeds up the checkout process, decreasing cart abandonment rate. #7 of our recommended WooCommerce plugins: WooCommerce Checkout Manager This free plugin lets you add in extra fields to your checkout page, such as a calendar date selection. This is great if you’re selling products where the customer needs to be at home to collect the delivery, such as perishable food. #8 of our recommended WooCommerce plugins: Pricing Deals With this plugin, you can add 2 types of pricing deals to your store: * BOGO deals (buy-one-get-one-free deals) * Discounts for purchasing items in bulks or discounts for people that spend a certain amount (such as a $10 discount for spending $100). #9 of our recommended WooCommerce plugins: MailChimp This plugin is fantastic for building an email list as it will add a tickbox (which is ticked by default) which will subscribe customers to an email newsletter series. As long as you have under 2,000 email subscribers and send less than 12,000 emails a month, it’s free to use MailChimp. #10 of our recommended WooCommerce plugins: WooCommerce Email Exporter This plugin lets you export all of your customer emails into a spreadsheet. Having your customers email addresses saved is great as a backup, plus it makes it easy to segment your subscribers into different email lists.
Views: 38770 Wholesale Ted
Why You AREN’T MAKING SALES in Your Dropshipping Store or Facebook Ads (& How to Fix It)
Not making any sales in your dropshipping store? Find out 15 ways to fix that! ►► Free $10,000/Month ebook: http://wholesaleted.com/4-step ►► Premium Step-By-Step Dropship Course: https://thedropshipclub.com ***Other Videos Referenced*** DO NOT Dropship These 5 Items: https://www.youtube.com/watch?v=afaknQqkiAw How to Create a Shopify Aliexpress Store: https://www.youtube.com/watch?v=bXczHKgPdrw How Much Money Do You Need to Dropship: https://www.youtube.com/watch?v=21P5uL7NCDU Is Dropshipping a SCAM?! https://www.youtube.com/watch?v=2sB7ZiLRzG4 How to Start Dropshipping with $50: https://www.youtube.com/watch?v=ZY4HQKhRfpo In this video, you’ll discover 15 things that you can do to your store & ads to increase your conversions and turn your traffic into sales. Question 1: Add Unique Products that Can’t Be Found in a Mall A lot of people try and dropship generic items like clothing. Don’t do this. Focus on adding items to your store that are unique and will appeal to a particular niche/hobby/passion. Not only does this encourage people to buy because they’ll have a strong reaction to seeing it, but it increases the perceived value of the item. Question 2: Do You Have Good Product Ad Images? Images are the most important part of the Facebook ad. Do you have sharp, clear images that clearly show what is unique/special about the product that you are selling? If you don’t, source some photos - and for some products, a video may be necessary. Question 3: Do You Have Good Product Listing Images? Images are also the most important part of the product listing. Try and find images that are in high-quality (big enough for the customer to be able to zoom in on them) and that show the product in a real-life context (e.g. have a mug sitting on a table), not just photos of it on a white background. You can also use pictures to overcome potential objections. Question 4: Do You Have a Custom Color Scheme? This helps build a brand. It doesn’t need to be complex: picking 2 colours to build your store around is enough. Question 5: Does Your Store Have a Custom Logo? A custom logo is essential for building a brand into your store (which creates trust). You can buy a simple logo from Fiverr for just $5 (plus a 50 cent transaction fee). Question 6: Does Your Product Appeal to a Certain Niche? Make sure that for each item you are advertising on Facebook, that they each appeal to a certain hobby/passion/niche. This will encourage people to impulse buy out of emotion at wanting the item. Question 7: Did You Add Scarcity to Your Product Ads? Make sure that you add some form of limited discount to the products that you advertise with Facebook ads. It could be 50% off for a limited time, or offering the product as “free” (just-pay-shipping) to a limited number of people. Question 8: Did You Add Scarcity to EVERY Product You Are Selling Don’t add scarcity to each product as it will make the special offer you’re advertising less exciting. Very important - do not add scarcity timers to every product page. Question 9: Did You Add 20 Products to Your Store? Adding in at least 20 products is important for making your store look professional and to build trust. A lot of people get lazy and add only a few - so don’t make this mistake. Question 10: Have You Added Product Descriptions? Create a custom video description for each product. A nice product description length to aim for is 2 short paragraphs that are just 2-3 sentences long each. Question 11: Have You Tested 20 Products? Most people give up on dropshipping after testing 5 or less products. Be patient and be willing to test at least 20 products to find a winning item. Question 12: Did You Run a Like Campaign to Your Facebook Fanpage Run a small $6-10 like campaign to your fanpage to give it some likes. This will help build trust with potential customers through social proof. Question 13: Do You Have Trust Words & Emblems in Your Store? Some easy trust words/emblems to add are credit card companies & shipping companies. Question 14: Are Your Products Priced at $15 or Less? This is the sweet-spot pricing for impulse purchases. Sell low-cost items that you can price for no more than $15. Question 15: Have You Done a Test Purchase? And of course, if you aren’t getting any sales - do a test purchase in your store. You might find that the reason nobody is buying anything inside your Shopify store is because no one can!
Views: 56745 Wholesale Ted
Do NOT Dropship High Ticket Products ($600 Profit Per Sale?!) Truth About High Ticket Dropshipping
Discover the truth about dropshipping high-ticket items as a beginner. ►► Free Ebook - 6 Steps to 6-Figure Stores: https://wholesaleted.com/4-step ►► Premium Step-By-Step Dropshipping Course: https://thedropshipclub.com ***OTHER LINKS MENTIONED IN THIS VIDEO*** ►► 10 Sales Psychology Hacks: https://youtu.be/q-7_oc3sU5Y ►► Do Not Dropship These Items: https://youtu.be/afaknQqkiAw ►► How Much Money Do You Need to Dropship: https://youtu.be/21P5uL7NCDU QUESTION: What does the phrase “high ticket” and “low ticket” mean? The phrases “high ticket” and “low ticket” refer to the prices of the items you are selling. A “low ticket” item would be a low-cost item like a mug. A high-ticket item would be a couch that costs hundreds to thousands of dollars. So a high ticket Shopify dropshipping store might be a furniture store where you sell things like couches, tables and chairs. QUESTION: Why would you choose to build a high ticket dropshipping store? The reason why a lot of people are excited at the idea of this is because you can earn a lot of money from just a single sale. If you make a 30% profit from a $10 sale of a mug, then that is only $3 in profit. Whereas, if you sold a $1,000 couch and made a 30% profit margin, then you would make $300. In theory, it should be easiest to sell a single large item versus a lot of smaller items. QUESTION: Is it easier to make money from a high ticket dropshipping store? Our opinion is that for most beginners, they will struggle to make money from selling high ticket items compared to low ticket products. Why? Well it’s because there is a very different mentality of a customer when they come to purchase an expensive product versus a cheaper one. When customers come to purchase expensive items like couches, they do not take those purchases lightly. Spending $1,000 on an item like a couch is a large purchase, and so customers will research their options before they purchase to purchase the best couch. Another reason why customers will take a lot of time to research their options is because expensive items like couches tend to be big and bulky. Thus if a customer is looking to purchase one, they will be very analytical in their purchase, as they will need to consider both the logistics of receiving the couch, and in getting rid of their old one. It is also very difficult to refund and exchange large, bulky items like this, so customers will be researching their options carefully do that they don’t pick the wrong one. It would also be very expensive and frustrating to purchase a different couch if they didn’t like the first one (let alone the annoyance in having to get rid of the one they didn’t like). So they’ll be researching all of their options carefully to make the right choice the first time. Because customers will be researching their options, it means that you’ll now be competing with big brands and stores. For example, if you opened a furniture Shopify store, you’d now be competing against brands like IKEA, Pottery Barn and Ashley Homestore that will show up when customers start to Google and search for their different options. To be able to compete with these big brands, you will need to: #1: Build up enormous trust between you and the potential customer High ticket purchases are a big deal for customers. They will want to be able to trust that they can trust you’ll be selling them a high quaity product, and that it will be delivered to them. Big brands like IKEA already have that trust built up with customers already. #2: You will need to send the customer through a sales funnel. A simple, basic Shopify store is not going to be enough. You are going to have to create a much slicker looking store and have an excellent, well writen and designed sales page. You’ll also need to provide a phone number, and be prepared to close sales over the phone. You will also need to have a LOT of start-up money set aside as you’ll need to be able to buy these items when customer purchase them. Whereas, with low ticket dropshipping, you are selling items that cost $15 or less. They are so cheap that a significant group of customers purchase them impulsively, and they don’t do a search to price-check the competition because they think they think the item you’re selling is such a good deal already. This form of dropshipping also requires less start-up money. For these reasons, we recommend that unless beginners have a mentor to guide them through the process of setting a store like this up and running one, that they stick to lower cost products.
Views: 30272 Wholesale Ted
Dropshippers Getting SUED?! (Store Reviews) How to Sell Branded Products Legally (When is it OK?)
Are YOU making these 3 critical dropshipping mistakes that could get you sued or shut down? ►► Free $10,000/Month ebook: http://wholesaleted.com/4-step ►► Step-by-step premium dropship video course: https://thedropshipclub.com How to not get sued when dropshipping: https://youtu.be/DtEkAyKapds 3 Things gurus don’t tell you: https://youtu.be/fnCiYMQizrU Why long shipping times don’t matter: https://youtu.be/sBuiN-CVxE4 In this video, Sarah reviews 3 of our subscribers stores… but NOT for sales and conversions. Instead, Sarah takes a look at them to see if they are legally compliant (and spoiler - they aren’t!). Here are the mistakes they made: MISTAKE #1: Selling Copyrighted Products The first store that Sarah reviewed (Scoops World Online) was making a HUGE mistake by selling phone cases that featured copyrighted photos, pictures, characters and trademarked logos (and yes - photos can contain copyrights as well!). On Aliexpress, a lot of sellers will sell items that contain copyrighted pictures and characters, and sell items that contain logos that are trademarked. A lot of people make the mistake that surely these manufacturers are only selling them if they have the right to do so? But unfortunately, they almost always don’t. The reason why they do it is because they know that they can get away with it, not because they have the right to do so. It’s very tempting to sell items that feature copyrighted characters/trademarks because they sell extremely well. The reason why they sell extremely well is because companies like Disney have poured enormous amounts of money into making them super popular. That is why they protect their copyrights/trademarks: they want to capitalize on that popularity and keep all of that money for themselves! However, this does lead to another question that we get asked a lot… QUESTION: Can I Sell Items that Contain Chinese Manufacturers Names? YES! Yes you can. There is NOTHING wrong with selling items that contain copyrights or trademarks, as long as you acquired those items LEGALLY. So you can tell a Captain America action figure, as long as you acquired it from a source that either produced it legally, or bought it legally. The problem with Chinese manufacturers is they usually did not produce their Captain America phone cases legally in the first place, which makes the items illegal - and thus, it makes it illegal for you to purchase them and resell them. If the manufacturers had produced them legally, it would be legal for you to sell them. So when a Chinese manufacturer places their brand/logo on an item (e.g. the manufacturer Transhome likes to put the name of their factory - Transhome - on their products) it’s absolutely fine to buy and resell that, as they had the right to make that item in the first place. MISTAKE #2: Not Having a Refund Policy Page The second store that Sarah reviewed (Doggo Trend) did not have a refund policy page anywhere on the website. This is a big problem because it means that if the customer wants to return an item for an illegitimate reason (e.g. they bought the wrong sized shirt) that you can’t point to a refund policy page and say, we don’t accept refunds if you purchase the wrong size, and we made this clear before you bought it. The customer now has an opening to argue with you that they should receive a refund - which increases the chances that they’ll try to do something like file a dispute with PayPal. And yes: you would probably win that dispute. But now your seller metrics have been negatively impacted. Be sure to protect yourself with a refund policy page. MISTAKE #3: Not Including a Shipping Time Disclaimer When dropshipping from Aliexpress, the shipping times can be 10-20 days long with epacket to the USA. This is an abnormally high shipping time. It is not fair to the customer to not warn them that the shipping times are going to be long. The third store that Sarah reviewed, Kokosale, did NOT include a shipping time disclaimer on their product pages. This is very concerning: you should include a note (and we recommend bolding it) saying that shipping will take either 2-3 weeks, or 2-4 weeks to be safe. If you do not warn the customer, they could get very upset and legitimately ask for a refund, file a PayPal dispute or file a chargeback. And the chances are, you will lose that dispute because you were engaging in shady practices. So don’t try to hide the shipping times - set the expectation for the customer. Be upfront and let them know!
Views: 14659 Wholesale Ted
How to Pick Winning Products that Make $1,912 a DAY With Aliexpress Dropshipping
Learn how to pick winning products & run successful Aliexpress dropshipping Facebook ad! ►► Free ebook: http://wholesaleted.com/4-step ►► $27,000 a DAY Webinar + Live Q/A: [It's over - sorry!] ►► JR's YouTube Channel: https://www.youtube.com/user/jrfishertraining
Views: 74744 Wholesale Ted
Amazon FBA & Sales Tax: How to Collect & Pay Sales Taxes with TaxJar
This video discusses Amazon FBA & sales tax, and teaches you how to collect and pay sales taxes in the USA for Amazon.com. Get TaxJar & their guide: http://wholesaleted.com/go/taxjar Get 10k/month ebook: http://wholesaleted.com/4-step Please note: this description contains affiliate links When it comes to Amazon FBA & sales tax, there is a lot of confusion. Luckily, it’s a lot easier than collecting and paying sales taxes on items you’re dropshipping (haha!) but you still need to collect them. Question #1 about Amazon FBA & Sales Tax: When do you have to pay sales tax to a state? When it comes not just to Amazon FBA & sales tax, but any sales tax obligations in the USA, you pay them to the individual states and not the federal government. It’s important then to know which states you owe sales tax too. To answer this, you need to answer a different question: Do you have sales tax “nexus” in a state? Having “nexus” means that you have a sufficient legal presence in a state that you are required to collect and pay sales tax within it. The exception to this are the following states which don’t have sales tax: * Delaware * Montana * Oregon * New Hampshire When it comes to Amazon FBA & sales tax then, if you only have nexus in any of those states, you don’t need to collect/pay sales tax. Alaska has no statewide tax, but it allows districts to charge local sales tax, so you will usually have to pay sales tax on sales made within Alaska regardless. Question #2 about Amazon FBA & Sales Tax: How do I know if I have nexus in a state? You have nexus in whatever state you live in. If you live in New York City, then you have nexus in the state of New York. If you don’t live in the USA then this doesn’t apply to you. If you have a physical building in a state, you’ll also have nexus there. Different states have their own individual rules. For example, in some states, having a remote employer there would give you nexus in their state. As an Amazon FBA seller, you will inevitably have nexus in whatever state your Amazon FBA inventory is stored in. Amazon FBA program has warehouses in 22 states. These states are the exception: * Delaware & New Hampshire as they don’t have sales tax. * Virginia as their department of taxation has ruled that having inventory in a warehouse does not constitute having nexus in their state. Question #3 for Amazon FBA & Sales Tax: How much sales tax do I pay? The answer to this depends on whether you have nexus in an origin state or a destination state. In an origin state you pay the sales tax rate of where your physical location is based from. If you have nexus in a destination state, then it gets more complicated as different districts, cities and counties have their own sales tax rates. For example, New York is a destination based state. If you had a customer based in New York City, you’d collect and pay 8.875% on their order. This includes: * 4% State tax * 4.5% Local tax * 0.375% Special Metropolitan Commuter Transportation District surcharge. Whereas if you had a customer in Buffalo you’d collect and pay 8.75% sales tax: * 4% State tax * 4.75% Local tax They are both based in the state of New York, but each order requires you collect and pay different taxes. Question #4 about Amazon FBA & Sales Tax: How do I collect and pay sales taxes with Amazon? 1. Figure out which states you have nexus in. 2. Register to pay sales tax in each of those states which you can do online. 3. Upgrade to Pro Amazon account if you haven’t already. 4. Login to your seller account and click “Tax Settings.” 5. Click “Tax Settings” and then “View/Edit your Tax Collection and Shipping & Handling.” 6. Choose your Product Tax Codes (you can select “Use Default Product Tax Code” to make this easy). 7. Specify your tax obligations. Tick the boxes relevant to the states you have nexus in. TaxJar (http://wholesaleted.com/go/taxjar) Amazon will charge you 2.9% on the tax they collect, but it’s well worth it! Question #5 for Amazon FBA & Sales Tax: How do I pay sales tax to each individual state? You do this online on each state’s website. Unfortunately this can be a tiring process if you have nexus in a destination state as you need to specify how much tax is supposed to go to each district/city etc. Luckily, TaxJar makes this process super simple. Simply sign up for an account with them, and connect it to your Amazon account. They will create a report for you which outlines how much tax you owe to each state and how it should be distributed. They also have a fantastic autofile feature which will automatically file your taxes in over 30 states, making the process even more simple. I strongly recommend that every Amazon FBA seller use TaxJar. If you have any other questions about Amazon FBA & sales tax, please leave them in the comments. Thanks for watching!
Views: 26847 Wholesale Ted
Why LONG SHIPPING Times DON’T MATTER when Dropshipping with Aliexpress (ePacket China Shipping)
Stop worrying! Learn why long shipping times DON’T MATTER with Aliexpress dropshipping. ►► How to Make $10k/month Dropshipping: http://wholesaleted.com/4-step *** Videos Referenced*** How to Make More Money from an Aliexpress Shopify Store: https://www.youtube.com/watch?v=yFMPAu_m1nA 6 Dropshipping Tips: https://www.youtube.com/watch?v=vgSiIbAuooc We get asked this question a lot here at Wholesale Ted: “What about long shipping times from China? Will customers be willing to wait?” “Why will people buy items with long shipping times from China if you can buy an item with fast shipping from Amazon?” ***Long Shipping Times DON’T STOP Customers from Buying*** If you are worried that the long shipping times from China when dropshipping with Aliexpress are going to stop customers from buying, and hurt your conversion rates… don’t be. This has been extensively tested. While it impacts the conversion rates a little, it doesn’t impact them by much. And the lower conversion rates are usually offset by the high profit margins on items shipped from China. If you have delayed creating your store because of this then STOP WORRYING because it DOESN’T MATTER! Selling on Amazon is very different to selling in an Aliexpress dropshipping store, which is why you can’t compare the two. On Amazon, customers primarily find items by using the search bar. They know what they want to buy and they are now comparing the different items to sell. It is a methodical process of comparing products. Customers will compare features, prices and shipping times when making their decision. If you build an Aliexpress dropshipping store right, people won’t be buying items because they have already decided to. Instead, they’ll be buying products from you because of emotions. Your goal should be to pick products that when the right person see’s it, it makes them feel something: “I really really love that!” “WOW - I need to buy that!” You aren’t trying to sell them items that they are already decided to buy. You are trying to sell them items that had not planned to buy, but once they see an ad for it, have a strong desire to buy because it appeals perfectly for them. In addition, you can use scarcity in your product ad and description to make the buyer feel like they are getting a great deal, so they won’t look at prices elsewhere. ***How to Overcome Downsides from Long Shipping Times*** There is a downside to long shipping times from China when dropshipping with Aliexpress - and that is customer service. While it doesn’t stop customers from buying, you will get an increase in emails from customers enquiring as to where their item is. Don’t be afraid or worried about this. When most customers email you, they just want a nice reply from someone who lets them know that it’s normal their item hasn’t arrived yet and that it will be there - they just need to be patient. As long as customers feel like you are real and care about them, you will calm them with excellent customer support. Rarely, you’ll get customers that will demand a refund. As long as you put a shipping disclaimer in your product copy, you do not owe them a refund. If they try and do a PayPal claim or a chargeback, you will win the dispute. That is why it is important to be upfront and honest about the shipping times. I recommend you bold this so customers don’t miss it. ***What is the Best Way to Ship from Aliexpress?*** I recommend you use ePacket exclusively when you dropship from China to the USA with Aliexpress. Epacket is a heavily discounted shipping option that is run at a loss. It is a shipping treaty between China and the USA to encourage customers in the USA to purchase more items from China. Shipments arrive within 10-20 days (2-3 weeks) and are extremely cheap, usually costing between $1-2 extra at most. In addition, ePacket includes tracking, so that you can see if a customer's item was truly lost in the mail, or if it was successfully delivered. This is also why I suggest you stick to suppliers based in the USA. The ePacket shipping option is different from other ePacket options offered to other countries (like Canada, UK, Australia & NZ). That is because the USA ePacket is run by the United States Postal Service, whereas the ePacket option offered to other countries is run by Hong Kong Post. The USA ePacket shipping is extremely efficient and works great - which is why I recommend sticking to the USA in the beginning and expanding out from there. So if you’ve been letting the long shipping times from China stop you from opening an Aliexpress dropshipping store, don’t: it doesn’t matter!
Views: 79804 Wholesale Ted
Reviewing a Subscriber's Shopify Store! HONEST Review of a Dropshipping Store
Sarah reviews a viewer’s dropshipping store! Get our ebook: http://wholesaleted.com/4-step ►► 10 Sales Psychology Hacks: https://www.youtube.com/watch?v=q-7_oc3sU5Y ►► Our premium step-by-step video training course: https://thedropshipclub.com When reviewing this subscriber’s Shopify dropshipping store, Sarah focused on 3 main elements of it: 1) The store design & branding. 2) The products listed in the store. 3) The product listings & descriptions. Let’s see what this Shopify dropshipping store did right - and how it could improve! #1: The Store Design & Branding (tips for improving Shopify store design & branding) This store did not have a custom logo. We highly recommend that you invest in a custom logo for your store. You can buy one from Fiverr for $5 (plus a 50 cent transaction fee). The store homepage also looked very empty as there was very little content on it. An easy way to add additional content to make it look bigger would be to preview products that you are selling on the store there. In addition, this watch store had watches for men, women and children - yet the colour scheme was very male-centric. It had the same colour scheme that you would expect to see in a male accessory store. This immediately would put off females that had come to the site. Something else that the site needed to work on was the fact that it was emphasizing heavily that profits were being donated to charity. On the homepage there was no mention of what charity it was, and when a customer navigated to the page that was supposed to explain the mission, there was no explanation about why the profits were being donated. Unless the customer identifies with your mission and believes in it, they’d rather just buy a watch cheaper elsewhere. #2: The Products Listed in the Store (tips for picking winning products for your Shopify dropshipping store). The male watches listed were very generic. They were nice watches - but there was nothing about them that appealed to people’s hobbies/passions. Picking products that do this are key to triggering impulse purchases. To help explain this, Sarah used an example in the video: a nice looking mug with a flower on it, versus a mug that makes your face look like a cat face when you drink out of it. No one would purchase the flower mug because while it is a nice mug, they can buy a mug like that elsewhere. The mug that turns your face into a cat is a lot more exciting because it triggers emotional feelings in people that love cats/cute things. The watches in the female section had a lot more potential as there were several watches that appealed to niches/hobbies/passions. Some examples included a peacock watch, a watch with a world map on it and a sailing watch that featured an anchor. #3: The Product Listings & Descriptions (tips for improving your Shopify dropshipping product description copy). The product listing and description is where a lot of dropshippers cut corners. They are more likely to put time into designing a nice homepage than creating a good product description. This is a major mistake because no matter what, for a customer to purchase the item, they have to go to your product listing and see the description. It is a key element of your sales funnel. Here are some tips Sarah gave the subscriber to improve their product listing: * For the title, Sarah recommended that this subscriber change the name of the product to something that was relevant to the niche, and to try and use an emotive word in the title. * She thought the price was a good price - it was under $15 which means it is priced low enough to be an impulse purchase. * She liked that the thumbnail picture was the product on a white background, but recommended adding in photos showing the product being used in real life. * She recommended uploading photos large enough so that the customer could zoom in on them as this has been proven to increase conversions. * She was happy to see that there was a very clear shipping disclaimer. Doing this will greatly decrease refunds, disputes and chargebacks. * She recommended that the subscriber update their product description. It is currently bullet points that point out product features. She recommended adding in 2-3 paragraphs that sell the customer on the benefits of the product and how it will improve their lives and to use emotive words. She also recommended adding in trust words. * She recommended turning reviews off unless you have at least 1 review for the product to upload. * She recommended having a related products section at the bottom of the page to encourage cross-sells. Take a look at your store, and see if you are making any of these mistakes for yourself and fix them in your Shopify dropshipping store!
Views: 59439 Wholesale Ted
How to Create an Amazon Seller Account as an International Seller (Pro Merchant Account)
Learn how to create an account on Amazon as an international seller. Step-by-step instructions to open a PRO Merchant account. Discover how to create a 10k/month dropshipping business on Amazon: http://wholesaleted.com/4-step In this video, I show you my updated step-by-step instructions on how to create an Amazon seller account as an international seller that doesn’t live in the USA or isn’t a citizen of the USA. Please note, in this video I don’t create a free individual seller account. That is because there are less steps as you don’t need to fill out any tax information. I wanted to create a pro merchant account as an international seller that you can see ALL of the steps. IMPORTANT LINKS DISCUSSED IN THIS VIDEO: Create an Amazon seller account: https://www.amazon.com/b?ie=UTF8&node=12766669011 The 136 countries Amazon accepts: https://www.amazon.com/gp/help/customer/display.html?nodeId=200417280 Currencies supported by Amazon: https://www.amazon.com/gp/help/customer/display.html?nodeId=200497820 Get Payoneer: http://wholesaleted.com/go/payoneer QUESTION: How do I know if I’m eligible create an Amazon seller account as an international seller? In the “important links” section I have added a link to the list of the 136 countries that Amazon.com will accept registrations from. If you live in any of those countries then you can create an account on Amazon as an international seller. It includes all major countries including Canada, UK, Australia, India and China. QUESTION: Can I use a non-USA credit card when I create an Amazon seller account as an international seller? Yes! You can. Amazon.com accept credit cards from major credit card companies which include: * Visa * Mastercard * American Express * Discover * Diners Club * JCB Please note though - Amazon.com will only accept chargeable credit cards and debit cards. Prepaid ones will NOT be accepted. This includes Payoneer cards, which is an important update to my last video I created on this subject. QUESTION: Can I use my local phone number when I create an Amazon seller account as an international seller? Absolutely. You don’t need to get a USA number, you can use your own one. Amazon will ask if they should call or text you. I find that it is more reliable to get Amazon to call you rather than text so I suggest selecting that option. When Amazon call you it will be an automated message asking for you to give them a PIN number that they’ll show on screen. Just type this number into your keypad. QUESTION: Do I need a bank account in the USA to create an Amazon seller account as an international seller? No, you don’t! There was a time when Amazon required this which made it difficult for non-USA sellers to sell on the site. Not anymore. The issue however is that Amazon disbursements are only eligible in certain currencies. For example, Amazon are able to disburse funds in Rupees but they don’t support Shekels. I’ve included a link to this in the “important links” section. The work-around for this is to use a Payoneer account to accept the money in USD, and to then pay you direct into your bank account. This method is supported by Amazon. I’ve included a link to this in the “important links” section. QUESTION: Do I need a pro-merchant account when I create a Amazon seller account as an international seller? No, you don’t have to open a pro-merchant account. The only reason why I opened one in this video rather than a free individual seller account is because there is an additional step to create a pro account: Dealing with taxes. Creating a free individual seller account is exactly the same except for this step, which is why I chose to create a pro account to show everyone how to do it. QUESTION: How do I fill out the 1099-K (W-9 form) tax form as a non-USA citizen when creating a pro merchant account? The answer is that you don’t. Because you don’t live in the USA and aren’t a USA citizen you will not be paying income tax to the IRS. You will instead be paying income tax to your local government. As such, you are eligible to waive this form. American residents need to fill this form out as at a certain threshold of sales, Amazon start to hold back a portion of their money on behalf of the IRS. Instead, you will need to sign the W-8BEN form (as a non-USA tax payer) to waive this. I show you how to do it in the video. It is very easy. You don’t need to send any documents in, as Amazon.com will accept an electronic signature. Thanks for watching. If you’ve got any questions about how to create an account on Amazon as an international seller, leave them in the comments section below and I’ll answer as many as I can!
Views: 92696 Wholesale Ted
How to Make $1 Million in a YEAR from Print on Demand (Examples of Winning Products) w/ Michael Shih
See actual winning products from a print on demand store that made $1 million in a YEAR! ►► FREE WEBINAR: http://wholesaleted.com/go/printprofits ►► FREE EBOOK: http://wholesaleted.com/4-step QUESTION: What is Print On Demand? ANSWER: It is kind of a form of dropshipping. Print On Demand is when you take a piece of artwork, and you use an app like Printful (which works with a Shopify store) to place that artwork on items that customers purchase (t-shirts, hoodies, mugs etc) and to print them. Printful will then ship these items out directly to the customer. QUESTION: What sorts of artwork and designs work best for Print On Demand? ANSWER: The best designs are those that target a very passionate niche. Michael Shih from Print Profits targeted the gothic fashion niche. Using the Facebook insight tool he was about to see that over 2 million users were interested in it. It also helps if you can move into a secondary niche: in this case, the sugar skull niche was related and customers passionate about one niche tended to be passionate about that niche too. QUESTION: How can you scale Facebook ads to huge profits with Print On Demand? ANSWER: When scaling Facebook ads, you can scale horizontally (split testing different ads, using different creatives like images) or you can scale vertically (increasing the budget). Michael Shih from Print Profits made over a million dollars in a year from his Print On Demand store by doing both. He was able to massively increase the amount of money per order by adding in a product upsell funnel. He took the money he made, and invested it into his Facebook ad scaling spend. QUESTION: Where can you find artwork to use for Print On Demand products? ANSWER: You can use image sites like Shutterstock and iStockPhotos. You can also hire an artist to make an original design for you. Make sure that you have the rights to resell and to use it for commercial products. An artist will usually charge you more if you plan to use their artwork like that. If you don’t do this, your Print On Demand store could be sued for copyright infringement. QUESTION: What are some unique items you can print onto that convert well? ANSWER: Most people think to sell t-shirts, hoodies and mugs. But did you know that you can print onto shot glasses, wine glasses and jewelry? Michael Shih from Print Profits has found that these convert very well. QUESTION: What are some unique ways to run tests to find winning products? ANSWER: Michael has some interesting strategies that he uses: * He creates Facebook ads targeting engagement. He then adds images of 4 products and asks the viewer “which do you like the most?” * Once he’s built up a customer email base, he will email them and do a poll on what types of items they would like. * He runs an ad that is promoting a giveaway, but instead of sending them directly to the product page for the free-just-pay-shipping offer, he sends them to a Shopify collection page. He then see’s which products people add in addition to their cart the most, and runs ad campaigns for those products. QUESTION: What mistakes do new dropshippers make with their Print On Demand Stores? ANSWER: Here were some of the biggest mistakes newbies make that Michael identified: 1) They find a winning product and they stop testing new products. They find a winning t-shirt design but they don’t test the design onto different types of products, like leggings, and lose a lot of money they could be making. 2) They try and scale their Facebook ads too quickly. If you try and scale your ads too fast, Facebook does not collect enough data during the learning phase and the ad “dies off.” 3) Not having a funnel in-place. Michael Shih from Print Profits was able to make over a million dollars in a year because he has a funnel which upsells customers to more items. Once you find a winning item, put in an upsell funnel ASAP.
Views: 84265 Wholesale Ted
Affiliate Marketing vs Dropshipping (with Aliexpress) - Which Online Business Method Is Best?
Which is better, affiliate marketing or dropshipping? Which makes the most money? Find out! ►► Free Webinar! $1,000/Day with Affiliate Marketing: http://wholesaleted.com/go/passivewebinar ►► Free Ebook - 6 Steps of a 6 Figure Dropshipping Store: http://wholesaleted.com/4-step ***OTHER LINKS DISCUSSED IN THIS VIDEO*** How We Make $500/Day With Affiliate Marketing: https://www.youtube.com/watch?v=-EJkasSgiTs How to Make $1 Million Dollars in a Year: https://www.youtube.com/watch?v=7AhrpqKgS2o What is Affiliate Marketing? How Do You Make Money with Affiliate Marketing? In this business model, your goal is to refer customers/clients to another business. If they purchase their products/services, you make a commission on the sale. The way that these businesses track your sales is with something called a hoplink. When a customer clicks on this hoplink and then purchases an item, you get credited with the sale. What is Dropshipping (with Aliexpress)? How Do You Make Money with Dropshipping? Dropshipping (with Aliexpress) is when you go to Aliexpress and find low-cost items to list in your own online store (e.g. you can make a store with Shopify) with a mark-up price. You then run Facebook ads to the products in your store promoting them. When a customer buys an item in your store, you then go to Aliexpress and order the item for them. You keep the difference in profit. Question 1: Which Is Easiest for Beginners - Affiliate Marketing or Dropshipping? There is no clear winner when it comes to this question: both business models have their own advantages and disadvantages. With affiliate marketing, it has the advantage that your affiliate merchant partner is likely established and has built up trust online. That means that if you refer a potential customer to them, that the conversion rates will be higher because they are more likely to feel comfortable purchasing from them - unlike with dropshipping where as a fresh store, you don’t have built up credibility. On the other hand, with dropshipping, your store is usually in a less saturated market for Facebook ads. For big, profitable affiliate products, a lot of affiliates will be trying to run Facebook ads directly to the offers, making traffic expensive and competitive. In addition, you have larger profit margins to work with when dropshipping, which also helps make it easier to create profitable Facebook ads. This is very relevant as Facebook ads are probably the easiest source of traffic for beginners. Question 2: What Makes the Most Money? Affiliate Marketing or Dropshipping? Dropshipping has the highest potential to make money. The reason for this is that when you create a store and sell products in it, you are building up a list of buyers that you know are interested in the products that you sell. So if you have a store selling products related to Astrology, then you know that people who purchase items in your store are interested in products related to Astrology - and you can send out emails to them in the future promoting similar products, and make more sales/money. With affiliate marketing, you are helping your merchant build a list - NOT you. And they will take the buyers that you send them, and they will send them a lot of emails promoting more of their products. With affiliate marketing, you are making one-off sales. Question 3: Which is the Most Passive? Affiliate Marketing or Dropshipping? Affiliate Marketing is a more passive business model than dropshipping. The reason for that is while you can semi-automate a dropshipping store, you still need to manage and fulfill orders. When a customer comes to your store and purchases an item, you need to go to Aliexpress, order the item and then get it shipped out to your customer. This is called order fulfillment. You also need to do customer support and reply to emails and messages left by customers. You can in-time make your business a lot more passive by hiring staff to run it for you, though you will need to manage those staff members. But with affiliate marketing, you don’t do any of this - the merchant partner does this for you. THEY send the products out to the customers, THEY fulfill the orders and THEY answer customer emails. As long as you have a traffic source setup that is sending referrals to the merchant, the business will run on autopilot. So which is better? The answer is neither: they both have their own pros and cons. Choose the business model that is right for you.
Views: 19208 Wholesale Ted
MAJOR UPDATE: How to Pay Tax When Dropshipping (How to Pay Sales Tax with Shopify)
IMPORTANT: Please watch our updated video on how to pay sales tax when dropshipping. ►► Free eBook - 6 Steps to a 6 Figure Store: http://wholesaleted.com/4-step ►► Join The Dropship Club Now: https://thedropshipclub.com DISCLAIMER: We are not CPAs, accountants or lawyers. This is NOT official legal advice! In this updated video, Sarah discusses what your tax obligations are as a dropshipper after the Wayfair vs. South Dakota Supreme Court ruling. This video is relevant for the following types of sellers: * They are sourcing items from Chinese dropshippers, such as Aliexpress dropshippers. * They are selling to customers that are based in the USA. Please note, on this channel we only focus on teaching new dropshippers how to focus on the USA market, which is why we will only discuss your tax obligations when selling to USA based customers. ***What Taxes Do I Need to Pay?*** When dropshipping you there are 2 types of taxes to pay: 1) Income tax 2) Sales tax ***Who Do I Pay Income Tax To?*** You pay income tax to your local government/governing body. So if you live in Australia, you will always pay your income tax to the Australian government. It doesn’t matter if your customers are based in the USA: you do not pay income tax to the USA government, you would pay it to the Australian government. ***Do I Need to Collect and Pay Sales Tax?*** In the USA, it is states that you need to collect and pay sales tax to - not the federal USA government. Previous to June 2018, there was a law in the USA that meant that you had to have nexus in a state before you were required to collect and pay sales tax in it. Nexus is a legal term that means you have a sufficiently large physical presence in a state to be eligible to collect and pay sales tax. For example, if you lived in Arizona then that would be a very large physical presence, and so you would have nexus in it. If a customer comes to your dropshipping store and purchases a mug from you, you would be required to collect and pay sales tax on that order. The sales tax rate in Arizona in 5.6%. You could need to collect this tax on the order and pay it to the Arizona state. Now let’s imagine that a customer from Texas came to your store. Because you didn’t live there (or have any physical presence in Texas), this means that you didn’t have nexus in Texas. That meant that you were not required to collect sales tax on that order and pay it to the Texas state. This also meant that if you were not a USA citizen that you usually did not have nexus in any state, and thus didn’t have to collect/pay any sales tax at all. However, in June 2018 a Supreme Court ruling (South Dakota vs. Wayfar) changed this. It abolished this law and said that states can now require large out-of-state vendors to have to collect and pay sales tax. So… does this mean that you now have to collect and pay it even if you don’t have nexus? NO! It doesn’t. To be required to collect and pay it, the following needs to happen: 1) A state needs to pass a law which overrides the baseline nexus law (most states have not passed a bill yet). 2) You will need to be a large vendor (the current baseline is doing $100,000+ sales in a single state, or 200+ transactions in a year). For most established stores, this means that they will likely only have to start collecting and paying sales tax in a small percentage of states - likely the large ones such as New York City. BUT, if you are a new dropshipper then you do not need to worry about this until you start making a lot of money and making a lot of sales. For now, you only need to collect and pay sales tax on orders made in states that you have nexus in (which for most people, will only apply to the state that they live in). For states to legally pass a bill that targets small vendors, a new Supreme Court case will be required. Want to find out how to start collecting sales tax on your orders in Shopify? Watch the video to see Sarah’s step-by-step tutorial on how to pay sales tax with Shopify!
Views: 11457 Wholesale Ted
6 Tips for Dropshipping with Aliexpress & Making More Money (w/ Adrian Morrison)
Learn our 6 tips for dropshipping with Aliexpress (with our special guest - Adrian Morrison). ►► Free ebook - How to Make $10k/Month Online: http://wholesaleted.com/4-step Tip #1 for Dropshipping with Aliexpress & Making More Money: Use Scarcity to Stop Customers from Price Checking & Buy from YOU One of the most common questions we get asked here at Wholesale Ted is this: “Why doesn’t the customer just go to Aliexpress and buy from there cheaper? Why would they buy the same item from you for a more expensive price?” This is a good question, and there are two answers to this: 1) Most people do not know what Aliexpress is. Because you are watching this video you know what Aliexpress is and your friend group likely does. But most people in the world have not heard of the site. Your biggest competition is probably people dropshipping it on Amazon.com (oftentimes for a loss). However, you can still get people to buy from you because… 2) If you use scarcity to create the illusion in your advertising copy and your product page copy that they are getting a limited-time offer, you can encourage people to buy from you without price-checking your product price. Tip #2 for Dropshipping with Aliexpress & Making More Money: Sell What Other People are Interested In This tip comes from Adrian Morrison. When most people start dropshipping, they try to focus on niches that they are interested in. However, the niche that you are interested in is not what makes the most money. You need to research and find what products have demand. If you find products that people want, then marketing is easy, because all you need to do is place it in front of them - no fancy advertising required. Tip #3 for Dropshipping with Aliexpress & Making More Money: Pick the Right Supplier Based on Their Feedback On Aliexpress you will notice that there are multiple sellers selling the exact same item. So a question we are often asked is this: “How do I choose between Aliexpress merchants selling the exact same item?” A good way to do that is to pick a supplier based on feedback. When you look at a supplier, you’ll see that they will have feedback icons. There are three types of icons: medals, diamonds and crowns. They indicate how much feedback each supplier has. A good rule of thumb when selecting a supplier to work with is to pick one that has between 3 diamonds to 3 crowns. This is the “sweet spot.” They have enough feedback that they are an established, proven seller. However, because they aren’t in the top-tier of feedback scores, their prices are usually cheaper than suppliers with 4-5 crowns so that they can still compete with them for sales. We recommend staying away from suppliers with medals. Tip #4 for Dropshipping with Aliexpress & Making More Money: Use Facebook as Your Traffic Source Facebook is the easiest source of paid traffic: it’s where everybody is, and Facebook has collected an enormous amount of data. It means you can run small ad campaigns ($2-5 ad budgets) promoting products. Sometimes you don’t even need to use keyword targeting because of “Facebook Intelligence” - Facebook’s own internal algorithm that knows how to advertise products for you based on their own internal data. Tip #5 for Dropshipping with Aliexpress & Making More Money: Negotiate with Suppliers for Lower Prices When you start making consistent sales (50+ units a week, roughly 7 a day) you can start to negotiate with suppliers for lower product prices. Do not try to negotiate with suppliers until you have consistent sales, otherwise it will be considered rude and you will hurt your relationship with the supplier (reducing the chances that they’ll give you discounts in the future). In the beginning, you will usually get a discount of between 5-10%. After awhile of selling consistently at that price, you can then come and ask for another discount. Doing this you can gradually decrease the cost of the item as you get further discounts, increasing your profit margins. If the supplier won’t give you a discount, then you can go to another one and ask them to beat the price of your current supplier. You can then go to your preferred supplier you’ve been working with and ask them to beat THAT price. You can go back/forth, getting the merchants into essentially a bidding war. As a newbie then, don’t just work with a supplier because they have the lowest price. Keep in mind that if you start making consistent sales with a more expensive supplier that has higher feedback, you can then negotiate their price to be competitive with cheaper suppliers. Tip #6 for Dropshipping with Aliexpress & Making More Money: Use Free + Shipping Method to Create Viral Ads Everyone loves free stuff. If you use free + shipping method, then your ads will attract a lot of likes/comments/shares and potentially go viral. You can then upsell them to higher-priced items with bigger profit margins.
Views: 51834 Wholesale Ted

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