How to make money from 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).
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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.
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