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WHY 99% FAIL IN THEIR DROPSHIPPING BUSINESS...

Published on: November 28 2022 by Peter Pru - Ecommerce Empire Builders

WHY 99% FAIL IN THEIR DROPSHIPPING BUSINESS...

WHY 99% FAIL IN THEIR DROPSHIPPING BUSINESS...

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00:00:23 00:00:28 what's up Empire builders welcome back
00:00:25 00:00:29 to another video if you're new to the
00:00:28 00:00:31 channel please like comment and
00:00:29 00:00:33 subscribe every single day I release new
00:00:31 00:00:35 e-commerce related videos make sure to
00:00:33 00:00:37 turn that notification about on to be
00:00:35 00:00:39 notified when those release usually
00:00:37 00:00:43 happens at 1 p.m. Eastern Time
00:00:39 00:00:45 every single damn day ok so guys a lot
00:00:43 00:00:46 let's get right into this a lot of the
00:00:45 00:00:47 students that I work with you know
00:00:46 00:00:49 they're selling why they're you know
00:00:47 00:00:51 most a majority of them are either new
00:00:49 00:00:53 e-commerce sellers or people that sell
00:00:51 00:00:55 in Shopify or amazon.com and they're
00:00:53 00:00:59 looking to really you know skyrocket
00:00:55 00:01:01 their sales and their businesses so this
00:00:59 00:01:04 one's really gonna be more towards the
00:01:01 00:01:06 Shopify people so let's get right into
00:01:04 00:01:10 this guy so typically a shop of ice
00:01:06 00:01:14 seller right typical ok in this meaning
00:01:10 00:01:15 85% to 90% of Shopify sellers have their
00:01:14 00:01:19 stores set up like this
00:01:15 00:01:22 ok they have 3 pages that a customer
00:01:19 00:01:24 typically goes through right and let's
00:01:22 00:01:27 put all these out right and I'm gonna
00:01:24 00:01:29 draw a little nice arrows but typically
00:01:27 00:01:32 are gonna be sending your traffic right
00:01:29 00:01:34 I'm just gonna write T are a right
00:01:32 00:01:36 you're gonna be sending your traffic to
00:01:34 00:01:38 a product page be it Facebook Ads
00:01:36 00:01:40 Instagram ads or whatever advertising
00:01:38 00:01:45 you're using you're gonna be sending to
00:01:40 00:01:47 a product page right and this is where
00:01:45 00:01:49 your customer now can either choose if
00:01:47 00:01:51 they want to buy more than one or not
00:01:49 00:01:53 right but they have to go they have to
00:01:51 00:01:56 physically click plus one or minus one
00:01:53 00:01:59 right here right so on average industry
00:01:56 00:02:00 average from the many students I work
00:01:59 00:02:03 with from the people that I've toked to
00:02:00 00:02:06 on average you are going to see on
00:02:03 00:02:07 average like take your last 100
00:02:06 00:02:12 customers and see what the average is
00:02:07 00:02:14 you will typically sell 1.3 units on
00:02:12 00:02:19 average
00:02:14 00:02:22 okay 1.3 units on average you're going
00:02:19 00:02:25 to sell to your customers okay so on a
00:02:22 00:02:30 997 product right let's say this is a
00:02:25 00:02:34 997 product right and let me get my
00:02:30 00:02:38 trusty calculator we're gonna do 997
00:02:34 00:02:40 times three times three times at one
00:02:38 00:02:43 point three right so your average cart
00:02:40 00:02:47 value right your average cart value is
00:02:43 00:02:54 going to cost 1296 okay rule of thumb
00:02:47 00:03:02 here right so your average average is
00:02:54 00:03:04 twelve ninety six guys 1296 now this
00:03:02 00:03:07 number is important because typically
00:03:04 00:03:09 guys i am willing to break even to bring
00:03:07 00:03:11 in customers into my business okay I
00:03:09 00:03:14 want customers I want tons of customer
00:03:11 00:03:15 email emails to be able to remarket to
00:03:14 00:03:17 just my customers right creating
00:03:15 00:03:19 look-alike audience is there's so many
00:03:17 00:03:22 strategies to use when you actually have
00:03:19 00:03:25 a huge customer list okay so when I know
00:03:22 00:03:28 my average cart value for my customers I
00:03:25 00:03:32 can know that I can spend now on this
00:03:28 00:03:35 Shopify store $12.96 to acquire a
00:03:32 00:03:39 customer because I will break even okay
00:03:35 00:03:40 I would have $12.96 okay does that make
00:03:39 00:03:41 sense
00:03:40 00:03:44 virtual head nods virtual head nods ok
00:03:41 00:03:47 so on the Shopify store you send them to
00:03:44 00:03:50 your product page here then they have
00:03:47 00:03:51 their checkout page right and this is
00:03:50 00:03:53 where they just enter you know their
00:03:51 00:03:55 general information right shipping
00:03:53 00:03:57 billing blah blah blah and they days
00:03:55 00:03:59 have our confirmation page right and
00:03:57 00:04:02 they're off to the races they're out
00:03:59 00:04:04 there perfect all right but 1296 that's
00:04:02 00:04:07 not bad right that's 1296 to acquire a
00:04:04 00:04:08 customer so let me show you what I do
00:04:07 00:04:10 when I work with my students or the
00:04:08 00:04:13 people inside sit so your funnels is it
00:04:10 00:04:15 and this is what we do okay this is the
00:04:13 00:04:18 new way the new and better way of doing
00:04:15 00:04:21 things okay so what we do is we send our
00:04:18 00:04:23 traffic to sales funnels right why do we
00:04:21 00:04:25 send them to sales funnels well I'm
00:04:23 00:04:28 gonna let the cat out the bag right now
00:04:25 00:04:33 your average cart value on average from
00:04:28 00:04:36 I've seen is usually 3.4 X than what
00:04:33 00:04:38 you're normally getting on a Shopify
00:04:36 00:04:43 store front so let me run you through a
00:04:38 00:04:44 quick little and you know what I'm
00:04:43 00:04:46 actually only gonna show that I'm not
00:04:44 00:04:48 I'm gonna show like upsells or anything
00:04:46 00:04:50 and I just want to show you how just
00:04:48 00:04:52 with an order form how much more
00:04:50 00:04:54 profitable you would be we're using a
00:04:52 00:04:57 sales funnel so on a Salesman you'll
00:04:54 00:05:01 typically have your squeeze page you'll
00:04:57 00:05:03 have your order form page and we're not
00:05:01 00:05:04 even gonna do an upsell guys we're not
00:05:03 00:05:05 even do an episode we'll just do a Thank
00:05:04 00:05:07 You page alright because I just want to
00:05:05 00:05:12 show you guys how crazy this is
00:05:07 00:05:14 so we have our traffic right tra right
00:05:12 00:05:19 cold Instagram traffic Facebook carpet
00:05:14 00:05:21 whatever so Sarris page squeeze page
00:05:19 00:05:24 alright and this is where we just
00:05:21 00:05:26 collect an email address key this is
00:05:24 00:05:29 money right here guys for you this is
00:05:26 00:05:31 already right here that's the one of the
00:05:29 00:05:32 biggest benefits that you're missing out
00:05:31 00:05:34 on when you're using Shopify most people
00:05:32 00:05:36 aren't going to buy from you the first
00:05:34 00:05:37 time they come to your store okay you
00:05:36 00:05:41 need to be able to remarket to them
00:05:37 00:05:44 later on so you need to with collecting
00:05:41 00:05:47 their email here you are now going to be
00:05:44 00:05:50 able to send them an email sequence okay
00:05:47 00:05:52 very very important okay getting getting
00:05:50 00:05:54 them indoctrinated into your business
00:05:52 00:05:56 they would have never heard of your
00:05:54 00:05:58 brain before actually 99% chance they'd
00:05:56 00:06:00 never heard of your brain before so
00:05:58 00:06:02 having an email sequence indoctrinate
00:06:00 00:06:05 them into your brand knowing who you are
00:06:02 00:06:07 building that trust and a relationship
00:06:05 00:06:10 with your customer that is what wins
00:06:07 00:06:12 that's that's what wins in the end
00:06:10 00:06:15 okay um again there's going to be of
00:06:12 00:06:17 course people that buy right out of the
00:06:15 00:06:19 gate and those are great right we wanna
00:06:17 00:06:21 identify those buyers right out of the
00:06:19 00:06:24 gate and those buyers in heat but you
00:06:21 00:06:26 want to be able to grab that email for
00:06:24 00:06:28 later remarketing purposes guys this is
00:06:26 00:06:30 very important to be able to collect an
00:06:28 00:06:34 email address it is the number one
00:06:30 00:06:34 biggest asset for your business
00:06:35 00:06:39 so after they hit that squeeze page we
00:06:37 00:06:42 collect the email address that they get
00:06:39 00:06:45 sent to our order form and if you saw
00:06:42 00:06:46 the last video guys and I don't know
00:06:45 00:06:49 order these are gonna come out in but
00:06:46 00:06:53 you guys know Iowa stress the reasons
00:06:49 00:06:58 how songs work so well is because on
00:06:53 00:07:02 average or you can display your units a
00:06:58 00:07:04 lot easier on a sales funnel guys right
00:07:02 00:07:07 so what I what I mean by that is I can
00:07:04 00:07:14 display a one unit cost of this two
00:07:07 00:07:16 units cost of this four six and eight
00:07:14 00:07:18 right and then the cool thing that I can
00:07:16 00:07:20 do too if you look on this channel for
00:07:18 00:07:22 the different order form hacks that I
00:07:20 00:07:25 show to increase your conversions you
00:07:22 00:07:30 can highlight one of these right and say
00:07:25 00:07:32 hey the for unit one is our best is our
00:07:30 00:07:33 best seller it's our most popular item
00:07:32 00:07:36 it's also the best deal you would be
00:07:33 00:07:38 stupid not to buy this one not
00:07:36 00:07:40 physically it's not literally saying
00:07:38 00:07:42 that but you want them to be like oh why
00:07:40 00:07:45 would I only buy one unit when one unit
00:07:42 00:07:47 is so expensive instead I can buy four
00:07:45 00:07:49 of them right for a huge great deal and
00:07:47 00:07:50 given my friends maybe have them as
00:07:49 00:07:55 presents for later on or whatever you
00:07:50 00:07:59 know your product is so typically guys
00:07:55 00:08:00 typically okay and this is just about
00:07:59 00:08:02 the order form I'm only toking about
00:08:00 00:08:04 order for I'm now toking about order
00:08:02 00:08:06 bumps I'm not toking about upsells I'm
00:08:04 00:08:08 not toking about any of that stuff on
00:08:06 00:08:10 average and this is what I've seen with
00:08:08 00:08:12 my students and again with the people
00:08:10 00:08:15 have toked to any my even in my own
00:08:12 00:08:22 businesses on average you will see three
00:08:15 00:08:28 point four units sold and again let's do
00:08:22 00:08:29 the math here this is a 997 product okay
00:08:28 00:08:31 997 let's say you're doing a big
00:08:29 00:08:34 discount or whatever the product is
00:08:31 00:08:40 right it's one of those moon lamps or
00:08:34 00:08:42 whatever let's get my calculator so on
00:08:40 00:08:45 average
00:08:42 00:08:49 where's that calculator at on average
00:08:45 00:08:53 you will now your average car value we
00:08:49 00:08:57 997 times three point four which will be
00:08:53 00:08:58 thirty three dollars and 89 cents is
00:08:57 00:09:01 that what that was thirty three dollars
00:08:58 00:09:04 and 89 cents I'm gonna round up as an I
00:09:01 00:09:09 went around up thirty three dollars and
00:09:04 00:09:14 89 cents your average car value is going
00:09:09 00:09:16 to be that is why you will win using
00:09:14 00:09:19 sales funnels because if I can spend
00:09:16 00:09:21 thirty three dollars right if I can
00:09:19 00:09:24 spend thirty four dollars to acquire
00:09:21 00:09:26 customers to my funnel and still
00:09:24 00:09:30 break-even and you can only spend
00:09:26 00:09:30 thirteen right or the twelve whatever it
00:09:30 00:09:32 was
00:09:30 00:09:35 who do you think is gonna win in the
00:09:32 00:09:37 long term right this is the sustainable
00:09:35 00:09:39 way to acquire new customers into your
00:09:37 00:09:41 business now I'm not telling you go stop
00:09:39 00:09:44 selling on Shopify go stop selling on
00:09:41 00:09:47 Amazon that's not what I'm saying I'm
00:09:44 00:09:49 saying you need to be using sales
00:09:47 00:09:52 funnels in your business the funny thing
00:09:49 00:09:55 is guys and let me show this to you
00:09:52 00:09:57 right now why I'm literally typing this
00:09:55 00:10:06 into into Google why every business
00:09:57 00:10:07 needs a sales funnel Papa Papa phone let
00:10:06 00:10:14 me see
00:10:07 00:10:18 Shopify look at this even Shopify says
00:10:14 00:10:19 why every why every Shopify store needs
00:10:18 00:10:22 a marketing and sales funnel
00:10:19 00:10:24 read this artikle they're not saying to
00:10:22 00:10:26 do it through them all right they
00:10:24 00:10:28 literally are telling you exactly what
00:10:26 00:10:31 I'm telling you right here but are not
00:10:28 00:10:33 showing you how to do it alright but
00:10:31 00:10:35 it's through quick funnels or any other
00:10:33 00:10:38 funnel platform but all our final
00:10:35 00:10:40 platforms suck okay this is how people
00:10:38 00:10:43 that know what they're doing are able to
00:10:40 00:10:45 scale their businesses faster right
00:10:43 00:10:48 these are how million dollar businesses
00:10:45 00:10:52 are grown quickly right because I can
00:10:48 00:10:54 acquire a customer at $33 and 89 cents I
00:10:52 00:10:57 can have a constant flow of
00:10:54 00:11:00 every single day right
00:10:57 00:11:02 compared to you who's selling it just to
00:11:00 00:11:05 a Shopify store all right and you only
00:11:02 00:11:06 have 12 bucks to spend think about your
00:11:05 00:11:09 product well I mean you have to account
00:11:06 00:11:11 product costs here two guys product cost
00:11:09 00:11:14 shipping costs you want to pay yourself
00:11:11 00:11:16 don't you you can't really do that when
00:11:14 00:11:17 you're selling it through a Shopify
00:11:16 00:11:19 store right you're usually gonna be
00:11:17 00:11:22 strapped your margins are always gonna
00:11:19 00:11:25 be strapped in a Shopify store but all
00:11:22 00:11:27 right guys I'm off my rant here standing
00:11:25 00:11:29 up is pretty awesome with this with this
00:11:27 00:11:32 new standing desk I got here hope it
00:11:29 00:11:33 doesn't look too weird that I'm like
00:11:32 00:11:35 pacing around but I feel like I can like
00:11:33 00:11:38 tok better like I just did the first
00:11:35 00:11:40 live class and I felt like it was just
00:11:38 00:11:43 so much easier just to you know help and
00:11:40 00:11:44 teach and all that stuff but if you
00:11:43 00:11:45 don't know what I'm toking about and
00:11:44 00:11:47 you want to learn more about sales
00:11:45 00:11:50 funnels and all that stuff I do a live
00:11:47 00:11:52 class every single week I used to say it
00:11:50 00:11:54 was only on Thursdays but that it's so
00:11:52 00:11:57 sporadic now if but it is every week if
00:11:54 00:11:59 you click down below under the resources
00:11:57 00:12:01 there's a live six-figure funnel class
00:11:59 00:12:03 you can register for it it'll tell you
00:12:01 00:12:07 what day it is of the week
00:12:03 00:12:10 you could register for that and join up
00:12:07 00:12:13 but yeah guys that's it all right I hope
00:12:10 00:12:15 you found this video helpful please like
00:12:13 00:12:18 comment and subscribe and remember your
00:12:15 00:12:18 empire starts now

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