Transcript for:
Understanding Drop Shipping Product Research

since you clicked on this video I'm going to make an assumption you're trying to get into Drop Shipping and you know that the biggest Factor towards your success is the product you're selling so you've been searching for winning products and everything you test seems to fail you're either spending weeks on trying to make organic content that goes viral or you're spending hundreds of dollars on paid ads that seem to go nowhere that used to be me 5 years ago when I was just getting into Drop Shipping and honestly nothing changed until I learned the five principles of product research once I understood these principles I was able to go on year after year making millions on my stores consistently and look I'm going to be honest this isn't some click baity video where I'm going to try to sell you something later these are genuinely the five things that are going to completely change everything you think you know about product research you have to understand that finding products that will just print money is extremely possible there are pockets of opportunities that are opening up inside of business every single day this is due to the revolving door our society is continually walking through society's changing every single day meaning that people's needs desires and perspectives are changing with it which opens up opportunities for new marketing angles or new products that nobody else is jumping on and you know what they always say you're paid in proportion to the size of problems that you solve so if you can find a massive enough problem that's not currently being solved right now then you my friend could become a millionaire by simply being observational now before I get into the five principles of product research I need you to understand what a winning product actually looks like every single winning product I've ever seen always has these eight characteristics the first thing is the biggest it's that your product has to solve a problem for a specific and passionate group of people number two your product has to have amazing margins this is very important if you're getting a product for $10 from your manufacturer you need to be selling it for $30 to $50 and not a lot of products can do that so you have to have what's called perceived value number three this isn't like the biggest deal but if your product is lightweight and small it's going to help you a lot with shipping and just building a brand long term number four a lot of people sadly overlook this your product has to actually work and actually solve that problem and be very high quality for your potential customers number five your product needs to have some sort of element that can be proprietary meaning that you're the only one who can sell it in the future a lot of products this is very hard to get around because we're getting stuff from China that's already made so there's not going to be anything proprietary so the only real proprietary thing we can build inside of the product is our branding and our logo and later down the line in the future you can even start customizing your products after you're ordering bulk inventory and then you can kind of start getting into that proprietary realm but when you're starting off with Drop Shipping just make sure that there's at least something proprietary you can do long term number six this product needs to be Evergreen meaning that it's going to be able to be sold year round it's not like a swimsuit or a jacket that can only be sold in certain Seasons number seven this one's going to surprise 90% of you your product should already be sold on the market and there should be someone who's doing very good with it you need this proof to ensure that it's worth your time to actually get into this product knowing that there's already a customer base and a demand for it a lot of people are scared of saturation but if you actually know what you're doing saturation is your best friend because it proves that this product is going to be worth your time if you can execute properly and lastly number eight this product needs to have a high aov in LTV which means average order value and lifetime value some products naturally have this element baked into them like energy drinks toothpaste because you need to constantly buy more but if you're a smart business owner you'll get to the point where you can kind of bake in aov and LTV into the brand itself but if you can have a product that has that element it's very nice so I was just watching over that video and I realized I need to give you guys a little bit more free value the best way to beat your competition is to have these three traits you either have to be the first which we're not focusing on or you have to be the best or you have to be unique if you just focus on being unique this is going to be the easiest way to get to Market and be all your competition so now we understand what a winning product actually looks like let's dive into how we're going to find these bad boys the first method is a term that I've coined called conscious scrolling conscious scrolling on social media platforms is amazing because not only are you going to find potential winning products that other people are trying to sell you're also seeing the exact way that they're trying to Market them you're seeing a free video ad example and a winning product so you're finding two at the same time but you have to remember and this is the secret we're not just looking for products we're also studying Trends remember that revolving door of opportunity I spoke about this is extremely important so please pay attention when we're consciously scrolling through social media we're studying three things the first is that we're obviously looking for products that fit in that eight-point criteria list that I mentioned before number two we're obviously studying winning ads seeing how they hooked us in how they built purchase intent and how they're trying to sell us the product the last video I posted on YouTube goes over exactly why videos go viral I go over the exact blueprint the exact science behind all viral videos it's extremely important I recommend you watching it it'll be at the top right of the screen somewhere so like I said we're studying products we're studying winning advertisements but third and most importantly we're studying the landscape and the mindset of mainstream Society we're taking note on how they think what's grabbing their attention what's trending what video formats are working really well right now what social platforms are getting more traction than the other ones you see we need to have a bird's eye view on how these NPCs how this mainstream Society is thinking so we can think of opportunities of what we can sell them and how to sell them to unlock these massive pockets of opportunity these are insanely low hanging through opportunities and once you find them it's only going to take a little bit of execution to actually seize the opportunity so that is step one to finding wiy products consciously scrolling and step two is the faster route which is the paid route but I'm also not really a fan of it at all now there's millions of different paid softwares that you can sign up for and they will give you a scraped list of products they think have potential through scrolling social media checking Amazon bestsell all that sort of stuff there's two main reasons I don't like it the first is you're missing out on that bird's eye view of society of how they think what content they consume all that stuff is so valuable the other thing is every other drop shipper is paying for these different softwares so anytime a product comes up on that software the competition goes through the roof and a lot of the people that are on those softwares are actually A+ players so it's going to be pretty hard to compete with them so that's why I think conscious scrolling is 100 times better and it's free so it's a big bonus step three is once you found a product you think has potential you need to go through what I call the validation process and it's extremely important we validate a product by finding the biggest keyword that explains what the product is this is an electronic cupping device that does the traditional benefits of cupping therapy with the click of a button if I were trying to sell this product which I did in the past the biggest term that would explain this is a smart cupping device once we find that keyword we want to plug it into things like Amazon Google shopping AliExpress Alibaba as well as social platforms like Instagram Tik Tok Facebook and Pinterest oh and YouTube of course the reason we want to do this is so we can study the landscap es ape of this product of this Niche that we're trying to get into we want to know all the brands that are currently selling this product and see where they're lacking so we can potentially outperform them in certain areas we also want to see what price point they're selling this product for we want to see how many reviews they have how many people are selling this on Amazon is it way too saturated this is going to give us a really good idea of how competitive the market is and if there's some clear player that's like branded this they own the market and you don't think you can outperform them you're going to understand that you need to go look for a different product we also want to search on social media platforms so we can see the top of videos that are trending about this product so we can study those videos make better hooks tell better stories and make a better offer that's more enticing for a customer and we can't do any of that if we don't understand the current landscape behind that exact product we're looking to start selling most importantly you also need to understand who's buying this product what's the psychology behind them what are they interested in and how do they think so we can best Market to them a huge element to your success is going to be how well you understand your potential customers and how you frame your brand and your positioning to best be in alignment with that potential customer so so step number four is now that you found a product you validated it you obviously need to start testing this is where we need to build a store around the product on Shopify order the product to our house and start making some organic videos with our phone attempting to go viral on social media for 100% free this is the time where we're really putting all this theoretical knowledge into practice it's a really key time where you're going to be getting your reps in and actually learning how to make amazing highle content and this phrase that I'm about to tell you is extremely important so please listen up it's a quick one it's very short the quote is all work is profitable the reason you really need to understand this is most of the videos that you're going to make are going to flop very hard maybe not even get 200 views and this process is going to be extremely discouraging you're going to assume you're wasting all your time and that your product is a massive dud and you need to move on to something else you have to understand that these reps that you're doing are invaluable they're going to be a pivotal skill that you develop as a long-term brand owner that's worth multi-millions if you only take away one thing from this video make sure that it's this quote and that you understand that building businesses worth millions of dollars is not a quick and easy path % of this journey is behind closed doors it's discouraging you constantly feel like a loser you're filled with extreme levels of self-doubt and if you don't get these reps in you don't get past this kind of pit of despair of the learning process then you're never going to become successful so make these videos with pride even if they get 100 views because you know that all work is profitable the lessons you're learning through those failures and experiences are going to be essential things that you need to know when you're a multi-millionaire in the future trust me so really quick I'm going to interject this video and show you guys the strategy that helped me make a million dollar in Revenue off Tik Tok alone so once you get an organic video that has around even just a th000 likes on Tik Tok what you've done is prove that the algorithm likes that video and now it's your job to get the maximum amount of potential out of that video that you possibly can and to do that you're going to need to run Tik Tock paid advertisements to that organic video but more specifically it needs to be spark ads let's say you're selling this product for $50 and it costs you around $15 to fulfill the product from your manufacturer that means you have a $35 budget that you can spend on ads without losing money to acquire a sale all that means is you only really have to spend $35 on your paid advertisement to see if it's going to make you money or not so if you spent $35 on your advertisement for this product and you didn't get a sale you can just turn off and you only risked $35 but the upside is if it did good you have a winning advertisement that can potentially make you tens to hundreds of thousands in Revenue so your risk to reward ratio is pretty amazing but what makes this even better is Tik Tok is going to double whatever you spend on their platform and give it back to you as a credit so if you spend $1,200 on their platform they're going to give you $2,000 $400 to freely spend on Tik Tok ads meaning your testing is way less risky and your upside potential is even better than it was before so let me show you how to set this up so to get started please scroll to the description of this video click on the affiliate link and you're going to land on a page just like this do keep in mind that this is currently only available in certain countries so make sure it applies to you and then hit get started here simply create a brand new Tik Tok ad account once you've created your ad account you want to go into the ads manager that looks just like this and you want to create your first advertisement now I'm going to be very brief with this this process because I do have a free 18-hour course that shows you exactly how to set up your pixel how to integrate this into Shopify and how to really do everything but I want to make sure you guys at least understand how easy this process is all we're going to do to do this strategy is hit traffic here click product sales make sure we're clicking catalog and not Tik Tok shop we're going to name this the test campaign and hit next now for the add group settings you want to scroll down and make sure that you add in your Tik Tock pixel here and put the optimized event to purchase next you want to go to select placements make sure you take off that go to advance settings and actually you can keep all these on you can sit and monitor This and like I said you can spend that amount you're comfortable with and then turn it off if it doesn't get a sale but usually if you don't put in $100 Tik Tok doesn't think you're serious so I feel like they give you a lot lower quality results so make sure you put in 100 really important go to schedule and make sure you're setting it at a specific time today's June 1st so I want this to start at June 2nd but most importantly I want to hit 0 right here to make sure it's starting right at midnight tomorrow that's all we need to do here so we can hit continue now this is the really important part this is where we're going to set up a spark ad so you need to click identity right here and then go to authorized Tik Tok post now to get authorized Tik Tok post you need to click this button here and it wants a specific code that's going to be found on your video so this is where you need to pull out your phone and go to the latest video of your brand click right here and go all the way over to ad settings then you want to hit this add authorization do 365 hit authorize and hit generate now that's going to generate a video code to get that code you can hit manage and hit copy code now all you need to do is copy and paste that code in hit search and it's going to grab that video and you can confirm it and put your organic video that you made on your Tik Tok account into your paid ad the reason this is so good is all of the engagement all of the likes all of the views are going to go to your actual profile and your actual account if you don't set up a spark ad like this you're just going to have some random video ad that's just like floating in space and it's not going to be tied to your actual account so if you run spark ads on all your videos it can look like your profile has millions of views on every single video looking like you're getting so much traction so much Social proof even though you're paying for all of them so once you have your video in make sure you're putting in the product from your catalog or you're just adding in some text putting in the product link and making sure it's on shop now and you're good to go as simple as it is that is the strategy that I use to make almost a million dollars with my brand loving surprise and the new cup inside of my 18-hour course I scale this product up to 10,000 in sales in the first two weeks just having fun and just using that strategy so make sure you go set up a brand new Tik Tok ad account use this exact strategy if you spend a minimum of $1,200 they're going to give you 2,400 for completely free if you're looking for a sign to take Drop Shipping seriously this is it step number five this is the rinse and repeat this part sucks but eventually you're going to figure out that some of the products you're working with might not have the potential you thought or you scaled up a brand to $10 million got a good exit and now you want to do the process over again I understand this process is very frustrating as you have to rebuild an entire new store and cater it to the product that you want to sell so everything looks professional and you can actually get a good conversion rate when you make a viral video so to help you guys out with this process me and my team have been working TI wirelessly for this entire year building custom-designed Shopify stores that are hyp specific around every single Niche and we're going to be giving away all these stores 100% free to you guys so anytime you need to create a new store you know I got you covered these stores are designed by professional store Builders they're not built by some Ai and we're going to be building new stores every 1 to 2 weeks to ensure they're always fresh these stores are also going to be pre-loaded with eight winning products that we believe have potential right now so we're truly doing as much of the work through this process as we can for you this free store is also going to come with a brand new free course that I'm filming right now on this cinema camera and I can personally promise you that this is going to be the highest level course on Drop Shipping that's ever been built now I know you're asking me why would me and my team go to this much effort and just give it all away for free and the reason is because Shopify pays us a pretty large amount for every sign up that we bring to their platform but the catch is you guys have to keep those stores for 30 days or me and my team don't get paid a dollar so it's genuinely in our best interest to give you the best coaching the best advice to ensure your success because if you guys don't win we don't make a single dollar so if you want one of these 100% free stores and access to this free course that I'm going to be dropping in the future then click the link in the description of this video so you can reserve a spot these stores aren't quite ready to be delivered just yet so if you sign up on the link below you're going to get notified right when they become available