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...

WHY 99% FAIL IN THEIR DROPSHIPPING BUSINESS...

startTime	durationTime	text
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