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Why So Many SHOPIFY STORES FAIL 2019 (95%) REVEALED
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Why So Many SHOPIFY STORES FAIL Transcript
hey everyone is real so today’s video is
why 95% of Shopify stores fail
everything I’m going to be mentioning
you can find down below on description
also just go on one website check it out
you might find some other useful stuff
running a Shopify store can be a great
experience and you can actually make a
lot of money while doing so however the
problem is that it seems that majority
of the people just start a Shopify store
without actually learning how to run one
so today I’m going to try and talk about
some of the main or most common mistakes
that people do you and that makes them
fail let’s just jump straight into it
the first thing is wrong drop shipping
niche this might be the most common
mistake that people make when opening a
drop shipping store everyone kind of
just wants to jump in straight away and
start selling as fast as they can and a
lot of people just don’t invest enough
time to find out what is a good niche do
you have to understand that if you don’t
invest a lot of time right now in
defining a good niche it can cost you
way way way more time in the long term I
actually made a video before how to find
a drop shipping niche so we’ll try to
put a link somewhere either a
description or somewhere up here so
check that out the most common case is
that people just see a really popular
niche or a trending niche and they just
think that’s a goldmine and they just
jump straight into it but the factor
that they do not consider is that there
might be a lot of people like them and
there just might be too much competition
besides act even if you see a niche that
is trending right now it looks like it’s
trending it doesn’t necessarily mean
that it is big enough there are enough
customers for you to actually make good
money another big reason when it comes
to drop shipping and people failing with
a niche is that sometimes it might seem
there aren’t that many companies to
compete with however don’t be fooled
because sometimes there might be just
let’s say they’re just like a couple of
other companies and you look at that and
you’re like I can be in the third one
but you don’t realize that those couple
companies are actual
really well-established and basically
they sort of have monopoly in that niche
and for someone else an outsider to come
and into that nation break out can be
really really difficult even if you are
selling your products cheaper than those
other companies you have to realize that
they might have spent millions of
dollars over the years building their
brand so for you it might not even make
any sense you start and try to get into
that niche you can use Google Keyword
planner or Google Trends and other
similar tools even social media just to
see how much competition there is and
just try to find a niche that is
basically trending it is fairly large it
doesn’t have well-established brands and
has a fairly good amount of competition
I see a lot of people just choosing some
very basic niches such as let’s say yoga
when you look first at yoga you might
think it’s a huge audience
people are super passionate the margins
are pretty good so it seems like a good
niche but when you look more into it the
competition is absolutely insane there
are some very prominent brands in the
niche and also there aren’t actually
even that many products to choose from
okay so the second mistake is bad
products so related to what I was just
talking about about having a bad niche
also very common I see that people just
choose bad products even if you chose
the best niche it’s absolutely killing
it if you choose bad products you’re not
going to be successful in dropshipping
this can happen in a few different ways
first of all you can have very generic
cheap looking products that no one
really just wants to buy quite often
people see products on Aliexpress that
have thousands and thousands of sales
and they think this is a hot item I can
sell tons of this and sometimes that
actually might be the case however more
often I would say it’s going to be the
case that a lot of people have already
bought that item
all the people have already seen it so
no one is really that interested in item
anymore
next reason is poor quality shop I have
seen some bad shops getting a lot of
sales and actually succeeding however
believe me if you have a good shop your
potential to actually succeed becomes
way way higher first of all I have to
mention that your store has to be
responsive meaning that it has to be
mobile-friendly it has to be changing
the pen changing its design depending on
all the different screens because most
likely majority of your customers are
going to come from mobile so you want
your website to look great on every
different screen otherwise people will
just not trust you if it doesn’t look
professional second you want to have a
nice clean design nothing too crazy but
nothing too little as well and it might
sound a little bit strange to you how
much it matters but believe me people
pay a lot of attention when they come on
your website and just see how it looks
Trust is a big deal for an unknown brand
so if your website it looks like crap no
one’s going to trust you however if you
manage to make your website look
somewhat similar to what the big brands
look you’re going to gain that trust a
lot quicker and just think about some
simple things when you go on stores I
have seen so many stores that don’t even
have the sticker of verified or
guaranteed payments all that kind of
stuff that basically just tells people
that it is secure payments here if
something happens they will get their
refund people forget to put that and
that is a huge huge mistake next mistake
is choosing cheap products a lot of
people like to use free plus shipping to
acquire customers with cheap or free
items and it is a great method you can
acquire a lot of customers and you can
actually make a lot of money with it
however I would say that quite
often you’re not going to make enough
money just with that when choosing a
product you should definitely look at
something that has higher margins than
just ten dollars this gives you a lot
more flexibility when it comes to
marketing your products because when you
have only $10 you really barely have any
flexibility but even more important that
means that you will need to sell less
products to reach the amount of money
that you want to earn I’m not saying
that you should find the most expensive
products and sell those it can be very
very difficult to sell at really
expensive products it can actually even
require specific skills to do that
having cheapest products are also going
to take you only that far if you have
let’s say a typical free plus shipping
$7 I would say that’s kind of the
average $7 margin you will need to sell
over 14,000 items do you reach that
hundred thousand profit which if you
have a small niche can actually even not
be possible instead you could be selling
a product with $50 margin which is quite
a bit more but it’s still not a crazy
expensive item in that case you would
only need to sell two thousand times to
reach that same hundred thousand profit
the fifth mistake is product margins are
too low besides of what I just talked
about a very common mistake is that
people simply don’t put high enough
margins on their products and I don’t
really get it when you see something
from your supplier a product for ten
dollars
it might seem very doubtful that someone
would actually buy that product for $60
you do have to understand though that
these kind of margins are actually very
common just talk with some friends if
some of your friends have their own
brands they produce their own products
as them how much they spend on
production and I guarantee you’re going
to be surprised how low their production
costs
are you must not be afraid to put higher
margins as long as they stay under that
competitive margin in your niche you
have to keep in mind that unless you’re
driving organic traffic you are going to
have a bunch of different expenses
you’re going to need to pay for
advertising customer support maintaining
your store and so on and so on so all of
that has to be calculated into the
margin I have to admit I was making this
mistake myself before I honestly was
just too afraid to put higher margin
because as I said I was just afraid that
people will not buy the items and then
one day I came across another shop that
was pretty much almost identical to mine
and I saw that they were their prices
their margins were way way higher and
then I changed my margins as well and I
did have a little bit of drop of how
many people how many customers I had
however in the big picture I made a lot
more money if you have no idea what type
of margins you should put on your
products you can always simply just a
beep s the product pricing and see what
the numbers are telling you next mistake
is no returning customers one of the
biggest mistakes I always see is that so
many people just concentrate on how to
acquire new customers but they
completely forget and ignore to retarget
their old existing customers and all
customers existing customers aren’t just
an absolute goldmine why would you try
to get new customers if you can retarget
customers that already trusted you with
their money and they already open their
wallets it is a lot easier to convince
someone to buy something from you once
they have already done that before
the crazy part about this as well is
that it can actually not require that
much time you can just let a simply set
up an email sequence with some sort of
hook that is a good incentive for the
people to come back to your store and
purchase more do
retargeting ad can also be a great way
to get people back on your store and
spend more money obviously you do have
to be smart about this as pretty much
anything you can waste a lot of time
doing this however if you do it
correctly you can and you have a thing a
higher chance of making more money I do
believe that if you do set up good
incentives and you make everyone happy
with their first purchase which is very
important then you can manage to get
those people’s back again on your story
and it can be a lot easier than
acquiring new people the only problem is
that a lot of dropshipping people simply
just ignore this tab the 7th mistake is
shipping problem shipping is probably
the worst part about drop shipping
because just simply of the long shipping
times if you are already drop shipping
or you’re planning to drop ship you will
most definitely will get a bunch of
emails from your customers asking where
their item is and why it has been taking
such a long time to be delivered even
worse than getting those emails what can
happen is a lot of your customers might
require for a refund and that can
literally destroy or drop shipping
business so the first thing and foremost
what you want to do is and what a lot of
people don’t do is you want to put the
shipping times on your website if you
put in your product description that the
shipping and if let’s say from two to
four weeks or something like that
first of all that is going to reduce the
number of emails you get from customers
and also a big big thing about this is
that if someone actually requests a
refund you can tell them that it was
really in the description how long it’s
going to take for the item to arrive so
we don’t actually have the right to
require a refund right now it might
discourage some people from purchasing
the products when they do you see those
long shipping times
there are some ways how you can go about
this and honestly it’s surprisingly not
as much of a deal as you would expect I
am going to make a video so about this
specifically so by the time you’re
watching this video it might all will
already be pretty so I’ll try to put a
link down below or just go on my channel
and search for a video of how to deal
with long drop shipping shipping times
another quick mistake that I see
sometimes people doing is that people
put just the free shipping even if they
have the e package option the e pocket
option does cause usually maybe a couple
of dollars or so if you have the option
I would think definitely just do that
span those extra couple of dollars it’s
going to save you time on all the
customer support and also just going to
make your customers happier and that
also means that they might return to
your store and purchase more in the
future okay last but not least mistake
is bad customer service building
relationships with your customers is
crucial and a lot of people just skip
this step because they simply don’t have
enough time or they just don’t think
that it is that important however as I
already mentioned having recurring or
returning customers is essential for
your business and this is a crucial step
in that first of all many dropshipping
stores simply lack the information that
customers want so please just put it in
a little bit of extra time and create a
great FAQ page so customers can find
everything that they might be searching
for besides that make it easy for the
customers to contact you so you have a
lot of options now you can just do live
chats you can also do Facebook chats and
all that kind of stuff
so people don’t even need to open their
email and the most important part is
just be quick polite and professional
when it comes to customer support
because that can really mean a lot
when it comes to your next sales and I
know that can require a lot of time and
you aren’t getting a lot of messages
from customers when you expand so I will
put a link down below in description
where you can find virtual assistant and
you can find someone as cheap as couple
dollars per hour to deal with your
customer support and believe me that
money will pay back just create a
question-and-answer sheet for the
virtual assistant you see what are most
asked questions from the customers and
what they should tell and just give that
to them do a little bit of a training
session and then you can just forget
about it and they will do the whole work
for you so these are some of the most
common and some of the biggest mistakes
I think that people do you in
dropshipping obviously there are a lot
more mistakes and I think you can’t
really avoid making mistakes it’s just a
part of it but as long as you don’t get
discouraged just keep on going and
eventually you will succeed with your
dropshipping star if you enjoyed this
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stay awesome and I’ll see you soon
