Hey everyone! I’ve been a long time lurker and have gained SO MUCH from this group. Everything from tips to motivation to get me through the hard times, you name it. This post recently blew up in another subreddit, so I figured it was time that I provided some knowledge/inspiration to this community as well! 🙂
I want to share the story about how changing my product research method lead me to profiting $70,000 dollars in the last 9 months (even through Covid) –
My story starts early 2019 when I first got into dropshipping. At the time, it seemed pretty competitive and kinda scammy. But, between my web design skill, general business savvy, and love for ecommerce I figured I’d give it a shot. Over the course of 2019, I had tested 20 different products. Here are the stats:
- 13 products lost about $100-300
- 5 products broke even or profited $100 – $500
- 2 products made roughly $4,000 and $10,000 in profit (I always struggled with scaling them, but was still very happy)
This wasn’t enough to replace my full-time income.
I didn’t understand what I was doing wrong. That’s when I started really analyzing my businesses, and I realized…
I choose mediocre products.
Now, everyone says winning products are critical to finding success, and honestly, that’s the place where I was putting in the least amount of effort. I was using Drop Point, Ecomhunt, AdSpy, Turbo Ad Finder, Saturation Inspector, etc… The problem was, I was just going off of gut instinct. I truly believed that I had an “eye” for winning products.
I decided to run a test – for my next set of product3, I was going to do EXTENSIVE product research to see if I got different results. Here’s what I did:
- I spent hours looking through Drop Point, Ecomhunt, and used Turbo Ad Finder + Facebook to find products that were “scroll stoppers” and problem-solving products.
- Created a spreadsheet w/ all the products I thought were products worth testing. (30 products in total)
- Checked Saturation Inspector, Facebook, and Aliexpress Dropshipping to get a general sense of demand and level of competition – nothing crazy. (20/30 products still worth testing)
Typically, this is where I would stop researching and make the decision on whether to test a product or not. This time, I decided to go deeper.
- I checked Alibaba + Aliexpress to make sure there were high-quality suppliers w/ low MOQs and could be trusted – this is so I could private label and scale w/ fewer headaches. (16/20 products still worth testing)
- I took a look at Google Trends to see if search terms for these products we’re on an upswing. (12/20 products still worth testing)
- Looked at industry-specific conversion stats to see how each product measured up. (9/20 products still worth testing)
- I checked Amazon Seller stats using Jungle Scout and Helium 10. These stats helped me see actual sales numbers and overall demand. (4/20 products still worth testing)
- I dug through all the potential keywords, their competitiveness, and monthly searches using Ahrefs. (2/20 products still worth testing)
To be honest, this level of research took a lot of work – I had no idea that 90% of the products I thought were winners would not pass this test. That said, the results were TOTALLY worth it. Between these two products, I’ve made $70,000 in profit just in the last 9 months.
TL;DR I added more rigor to the way I do product research and immediately found two winning products that I’ve profited $70,000 from.