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how i find winning products & make viral dropshipping ads.

Introduction

Introduction

In this article, I'm going to walk you through my entire product research process that has taken one of my stores from zero to a million in less than a year.

In case you're new here, my name is Tay, and I've been dropshipping for around six years. Over the past several months, I've run a store that has generated over a million in revenue, something I still actively operate today. Here, I'll share the knowledge and experience I've gained running stores such as this so you can understand how exactly I do product research and the strategies I follow to ensure it's a product that's working today and not saturated. I'll also show you how I quickly create and edit video ads for products and design a simple product page you can model to help you test more products quickly and efficiently.

If you're ready to learn everything you need to know to find and launch your first dropshipping product, make sure to like this article and subscribe to the channel.

Store Stats & Transparency

Before we get into the details, I want to be transparent about some recent stats from my store to show that everything is legitimate. My store started at the end of June 2023 and has earned over a million dollars in revenue up to May 9th, 2024. In April alone, the store achieved a total revenue of around $ 667,000, averaging anywhere between 1 to 2K per day.

However, what truly matters is the profit. Let me show you my true profit dashboard, which tracks all my store's profits. In April, we earned $ 67,000, with total costs around $ 52,000, giving a net profit of $ 114,000 with a margin of around 21%, typical for dropshipping. I'm slowly transitioning the store to a brand to improve this net profit over time.

Expenses Breakdown

Here's a complete breakdown of expenses associated with the month of April:

  • Ad Spend: $ 25,000

    • Facebook: $ 19,000
    • TikTok: $ 4,000
    • Pinterest: $ 2.6K

  • Order Fulfillment Cost: $ 21,000

  • Custom Cost: $ 3.3K (Virtual assistants, app subscriptions)

  • Transaction Fees: $ 2,000 (Shopify payments, PayPal)

Tracking Profits with TrueProfit

Tracking profits accurately is crucial in making proper business decisions, and I use TrueProfit for this purpose. One of the best features is their marketing attribution feature, allowing me to see all my campaign results accurately. Since the iOS 14.5 update blocked ad platforms from tracking users precisely, having an app like TrueProfit helps track campaign performance effectively.

Finding Winning Products

To find winning products that are actually selling today, I use a tool called Mana. Here's my approach:

Filters for Facebook Ads

  1. Dates: Filter ads within the last 30 days to find recent ads.
  2. Media Type: Select videos as they typically perform best.
  3. E-commerce Platform: Select Shopify to filter relevant advertisers.
  4. Engagement: Select ads with a minimum of 300 likes to indicate interest.
  5. Countries: Select Australia, Canada, United Kingdom, and United States.

Analyze Products

Evaluate products by asking some fundamental questions:

  • How many people would need this product?
  • Is this product something someone would impulsively buy?
  • Is this product creative, unique, and not easily available in retail stores?
  • Does this product have a strong emotional factor?

Example

An intriguing product I found was a customizable keychain that replicates the appearance of someone calling on an iPhone. This product ticks all boxes: it's creative, unique, has a strong emotional factor, and could be a meaningful gift.

Verify Demand and Competition

  1. Analyze the comments and engagement on the Facebook ad post to ensure the product still has demand today.
  2. Use Magic Search on Mana to verify competition and ensure the product isn’t oversaturated by finding multiple advertisers but not too many.

Creating & Editing Video Ads

To create an engaging video ad:

  1. Script Creation: Develop a script to provide a personal touch and storytelling aspect.
  2. Voiceovers: Use tools like ChatGPT for writing scripts and 11 Labs for creating realistic AI voiceovers.
  3. Video Editing: Use software like CapCut to match visuals with audio, ensuring the elements in the video complement the script.

Product Page Design

Quickly create a demo product page on your store by focusing on these aspects:

  • High-quality images showing the product clearly.
  • Concise and impactful description.
  • Optional customization options, like image upload.
  • Sections explaining how the product works, guarantees, and reviews.

For a detailed step-by-step process of designing a product page, refer to my previous videos and resources linked in the article.

Conclusion

Finding winning products, creating engaging ads, and designing effective product pages are critical components of a successful dropshipping business. I've shared my strategies and tools like TrueProfit and Mana to streamline the product research and ad creation process.

If you found this article helpful, drop a like and subscribe for more free value. Also, join my free Discord group to connect with like-minded entrepreneurs in the dropshipping and e-commerce industry.

Keywords

  • Dropshipping
  • Product Research
  • TrueProfit
  • Mana
  • Video Ads
  • CapCut
  • Customizable Products
  • Marketing Attribution
  • Ad Engagement
  • Emotional Factor Products

FAQ

Q: What tool do you use for product research?
A: I use a tool called Mana to find winning products by analyzing ads on platforms like Facebook, Pinterest, and TikTok.

Q: How do you track profits accurately?
A: I use TrueProfit, which helps track all store profits and marketing performance accurately.

Q: How do you create engaging video ads?
A: I use ChatGPT to create scripts, 11 Labs for AI voiceovers, and CapCut for video editing to match visuals with audio.

Q: What should a good product page include?
A: High-quality images, a concise description, customization options, details on how the product works, guarantees, and customer reviews.

Q: How to ensure a product isn't oversaturated before testing?
A: Use Mana's Magic Search to check how many advertisers are promoting the same product, and avoid products with too many competitors.

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