How to make money from 10 Tips for Selling Online & Dropshipping – Learn from MILLION-DOLLAR Seller (Fred Lam)
Discover the 10 tips for selling online & dropshipping from Sarah and millionaire Fred Lam.
►► How to Make $10k/month Dropshipping: http://wholesaleted.com/4-step
Other links referenced in this video:
* Check out Fred’s YouTube channel: https://www.youtube.com/channel/UCpR8UQ08ZDJuOXDhggNjabg
* How to Start a Dropshipping Business with No Money: https://www.youtube.com/watch?v=17X6gnJT2II
* How to Win the Buy Box: https://www.youtube.com/watch?v=VZZ1CyI7VCM
Tip #1: Focus on items that have constant, on-going demand – DON’T use a go-wide strategy
Focus on selling a small number of items (10-30) so that you can build better relationships with your dropshippers and be more efficient at processing orders and managing support questions. To do this, research items that have constant, on-going demand rather than listing every item you can and relying on volume.
If you’re dropshipping on Aliexpress this is especially relevant because if you’re using a paid traffic strategy, you’ll need to test ads. It’s a lot easier to test ads for a small number of products rather than hundreds!
The next of our 10 tips for selling online: Sell what the customer wants, rather than what they need.
High-end brands like gucci are able to ask for higher prices because they appeal to what the customer wants, even though they don’t need it. If you want to sell high-profit items, then appeal to a customer’s wants rather than their needs.
The third of our 10 tips for selling online: Be patient with free, organic traffic.
Who doesn’t like free things?! Unfortunately, free traffic has a downside: It takes time to work. It takes time for Google to index your website, it takes time to climb up the search engine rankings. If you want to leverage free traffic that is fine, but be prepared to be patient. If you want fast results, use paid traffic.
The fourth of our 10 tips for selling online: Use paid traffic to find high-profit items.
One of the benefits of paid traffic is that you can use it to test multiple products. You don’t have to wait for Google to start sending you traffic to see if the product converts well or not, you can instantly find out by sending some paid traffic towards it… and use it to figure out which items are duds and avoid them!
The fifth of our 10 tips for selling online: You don’t need the lowest price or the highest feedback to compete.
Here are some ways to compete with other sellers:
* If you’re selling/dropshipping an item on Amazon with a pre-existing listing, win the Buy Box.
* Create better Amazon (or eBay) listings than your competitors with better photos and a better description.
* If you’re dropshipping in your own store using Aliexpress, then you don’t need to worry about price because you set the price expectation.
The sixth of our 10 tips for selling online: Build a sales funnel to beat your competitors.
Build a sales funnel with upsells. By increasing the profit you make for each customer, it means that you’ll earn a higher CPM (cost-per-mile) than your competitors that aren’t building a funnel. You can then afford to out-buy their paid traffic because you’re earning more money than them.
The seventh of our 10 tips for selling online: Never take anything for granted
During the Q4 2016 season, Amazon closed their Amazon FBA warehouses to new FBA sellers. This was unexpected, and a great lesson as to why you should always take action today rather than waiting until tomorrow: Because the industry is always changing. Never take anything for granted.
The eighth of our 10 tips for selling online: Never be attached to a product that you love
Don’t just sell a product because you like it. Choose your products from the perspective of your customers and NOT yourself. If a product doesn’t have interest, then drop it and focus on finding a new product that converts better, even if you think it is great.
The ninth of our 10 tips for selling online: Shoot first, aim later
Bite the bullet and start your ecommerce store, create an Aliexpress store, list your first product on Amazon or create your first Amazon listing. It won’t be perfect but that is OK, because you are learning. It’s easier to understand what we teach when you’d tried it yourself.
And the final of our 10 tips for selling online: Diversify your Products
Try to think about other items you can sell your customers. If they are interested in survival products, then they will want lots of different products: Flashlights, tents, backpacks and other survival items. Diversify what you’re selling so you can upsell your customers and make more money from them.
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