This series of four episodes is going to help you increase your revenue, automate your operations, and become the authority in your niche by sharing key strategies for dropshipping during a pandemic.
In today's podcast, I focus on how you can plan for success in the future.
As always, if you have any questions or suggestions, please don't hesitate to leave your message in the comment section.
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What's up, everybody? Anton Kraly here. Welcome back to the eCommerce Lifestyle Podcast. If this is your first time listening, just know that this show is designed to help e-commerce store owners to increase their revenue, automate their operations and become the authority in their niche. This episode should really help you with all of those things. I also want to make a note before we get into this, that you're currently listening to a series, and this is episode four of four of a series I've been doing called Dropshipping During a Pandemic. If you just stumbled upon this episode and you've missed the first three, I highly recommend you go back and listen to them, first. What I'll do is post links to each of those episodes in the podcast notes, so you can click that, go back, listen in. Then this one will make a lot more sense, because all of the episodes really do build on themselves.
With that being said, the topic for today, that's specific to Dropshipping During a Pandemic is about making your plans moving forward, what do the next 3, 6, 9, 12 months look like at your company? What we're going to do in this episode is get into that, and I'm going to share with you what we're doing to make sure we're not only seeing results now, but that we're also seeing results as we move into the future.
Let's first do a quick recap of the previous three episodes. The first was all about suppliers and how you can increase your units sold. The second was about your stores and what you can do on your stores to increase your conversion rate, meaning to turn more visitors into buyers. The third, that was our last episode, was about traffic and how you can increase your return on ad spend. Again, this one specifically is about planning for the future. But as a quick catch me up, because I know the first episode was back about two weeks ago now, what we discussed in that episode and a high-level overview or a summary was how to deal with current issues we're seeing what suppliers, most of them meaning products might be out of stock or back order.
The solutions that we're currently implementing in our businesses that I recommend that you do as well, first, are to request weekly inventory lists from your top suppliers. The second was to pre-purchase remaining inventory of best-sellers. The third was to pre-purchase new shipments of best-sellers. The fourth was to secure new suppliers, because this really is a great time to increase your product catalog and get approved with brands maybe you've never reached out to before, or that have denied you in the past. By implementing everything I taught in section one, you're going to be able to continue selling while others, meaning your competition, can not. And you're going to also be able to increase your product offering.
Now, the next thing we covered was in regards to your store optimization, and some of the there are that our stores are set up for what worked a few months ago. And what worked a few months ago isn't the same as what works now specifically, because again, the products that we might have sold at the highest volume might not now be in stock. Again, go back to that episode, to hear everything we're doing. But from a high-level overview, some of the solutions there are recommending similar products, restructuring your homepage and your collection pages, informing website visitors of shipping dates. This is extremely important. We're also promoting financing now more than ever, we're collecting more leads, and we're making sure we have remarketing code on all of our sites for all of the different platforms that we advertise on.
By doing this, we're able to direct people to products that they can actually get now, and we're giving them creative ways to pay. So, if they're worried about spending money out of their bank account, now they can get an interest-free way to pay and pay their thing off over the next six months should they so choose. Now, after that we moved on to paid traffic. The problems here were that paid traffic is cheaper than it's been in years, but conversion rates are down, because there's more window shoppers than we've seen in really years and years and years for the low cost of traffic. A lot of people just are there, because they're bored and they have extra time and internet usage is way up.
So, some of the solutions we covered for that first were to immediately cut ad spend for out-of-stock products to invest in remarketing and to scale traffic on what's working. By doing this, you're going to be able to maintain your short-term return on ad spend, while building huge audiences for cheap that can be extremely profitable over time. Again, if you want specifics for how we're doing this, just go back to the last podcast episode, which will be linked up below. But you'll notice here the third thing we talked about with paid traffic. The goal here really is to keep our return on ad spend, where we're comfortable, where we're very profitable, but also to build these huge audiences for cheap, that can be extremely profitable over time. That's really the biggest key for what I see as the coming months and year, being our best ever, and this is what I want for you too.
This goes right into step number four, planning. Planning for future success. Now, a lot of this has to do with those audience. Just a quick recap, when I'm talking about audiences, I'm talking about groups and segments of people that you can remarket to. One way of getting these people is by getting them on your email list. Another way is by building remarketing audiences that you can use on Facebook and Instagram. Another way is by building remarketing audiences that you can use on Google Display Network, Google Shopping, Google Search Text Ads, Google Discovery Ads, YouTube. You want to be building these audiences now so that your future can be the most profitable.
Honestly, I think what we're going into really is an opportunity where we can have some of the best months that we've ever had, and there's no reason why you can't have this also. What do I mean, though, when I'm saying, "Planning, planning for future success."? Well, what we've been doing, and we already started executing on this, by the way, is making sure we're planning our future promotions, not just to be, "Oh, let's have a sale this month and see what happens," but to make sure we can make the most attractive and most irresistible offers to those audiences, all of these people that we're building up in our remarketing audiences and on our email list for super cheap, what can we offer them that's going to get them to buy? So, you want to think of it as, "What reason can I give a lot of these people that we might write off as window shoppers? What can we present to them that's going to get them to take out their credit card or take out their debit card, or just go ahead and use financing and pay that way?"
What I want you to start doing is pull up a calendar and look at all of the holidays coming up. I'll actually link to a resource below this podcast that shows every holiday there is. There is a ton of them, you can get creative with them if you want, but every month there's multiple holidays, and start thinking, "What can I offer on which dates, and what should the emails look like for this campaign? What should my Facebook ads look like for this campaign? What should my Google ads look like for this campaign?" Don't just throw it together last minute and post it up there and hope it works. Instead, start focusing now, even months out. That way you're giving all of these people a reason to buy.
I say, we've already been executing on this, because at the time I'm recording this, we are towards the end of July and we just ran our 4th of July promos and they did very well, and a lot of those ads were going to these cheap audiences. That's why I'm saying this stuff is already working, and in the background we're still building all these huge audiences for the next promotion, and the one after that, and the one after that. That's why I know what we're doing is setting us up for really tremendous profitability over these next few months and even year, and there's no reason why you shouldn't be doing the same while planning your promotions. I do want you to think out of the box when you're thinking, "What can I offer my people?" Of course, you can do the standard 10% off, all orders, free expedited shipping. You could do things like that, but try to think, "Is there any way I can work with my suppliers to get something that's just going to be, again, irresistible, that's going to make it so my audiences can't say, no?"
See if any of your different vendors you work with have any maybe last-year models of products or anything they're overstocked on, anything they can work with you on pricing for. See what you can do to get creative, and put together an offer that people can not say no to, and run a different offer every single month. Not for the entire month, but for three to five days every month, be running a promotion to your audiences. By the way, if you're listening to this or watching this and you already own a profitable store, I would highly recommend you go to ecommercelifestyle.com, click on courses and get my program called Get Money Now, because it shows you our entire promotion strategy. I'll link to that in the notes as well, but it's at ecommercelifestyle.com/courses, and that course is called Get Money Now.
Also, I'll just say, if you're watching this or listening to this and you're not a member of my coaching program Drop Ship Lifestyle, yet, you definitely want to go check that out because I mean, everything we're doing now is building on exactly what I teach you step by step inside of the Drop Ship Blueprint. For that, you can learn more at dropshipwebinar.com.
Just some more things I want to share with you when it comes to planning and how to make sure you're set up for success as we move forward into this next year, a huge thing that we always do, but I think now is more important than ever, is creating what I call a change log. Now, this is very simply just a Google document. We make them in Google Drive. Every time we change something, we just put in the date, and we put in what was changed.
Now, the reason this is important now more than ever is because over these past three episodes, I've been talking about how to rearrange your website, I've been talking about how to add new promotions, I've been talking about how to decrease your budget in places and increase it in others, and basically, I've been sharing all these things that are going to result in what your store looked like previously to being different than what it becomes. That's not a bad thing, that's what you want to do, but let's just say six months from now, everything pretty much goes back to the way it was pre-pandemic.
Now, you're going to have all these changes and some of them you might want to keep, but some of them you're going to want to revert. For example, when certain products come back in stock. For example, when you pick up a new supplier. For example, when your ad budgets start to change and go back to what is the real normal. What I want you to do is make a change log. You can do it with pen and paper, or you can do it in Google Drive like me, and every time you make a change to anything regarding your ads or your store, just put in the date and then write what you changed. This way, if you ever want to revert anything, you'll know exactly what was changed and when it was changed, so that you can go back and adjust accordingly.
Again, if there's anything you wanted to keep, you can look back and think, "Oh, wow. Anton recommended I start promoting financing, and I added that to my site on July 28th. In August, I had my best month ever, and most of my customers accepted financing." Then you know what caused something to work as well. Highly recommend you do that.
That's going to do it for this series, guys. I really do hope you found this helpful. Again, some of the highest level overview things of what we're doing to not only stay in business, but to actually grow and be more profitable than ever during a pandemic while being set up for success. If you missed any of these episodes, I'm going to link all of them below this podcast, so you can just click, go back, catch up, stay up to date. As always, if you are running a business and it's profitable and you want it to grow faster, I highly recommend you go to ecommercelifestyle.com/courses, and see what we have available there to help you get to that next level.
If you're listening, you're excited about this, but you're still just getting started, you want to know how to build a gorgeous store that turns visitors into buyers, you want to know how to use Google ads and Facebook ads and email marketing, you want to know how to find the best suppliers and get approved with them, you want to know how to pick a niche that's actually going to make you money, then you definitely want to get enrolled in Drop Ship Lifestyle, my flagship program, and the perfect place to start there is at dropshipwebinar.com. I will link to that in the podcast notes as well. As always guys, thank you. I appreciate you. If you got value, do me a favor, leave a like, and please do leave a review over on Apple podcasts. I read them all, and it means a lot. Thank you everybody, I appreciate you, and I will talk to you in the next episode of the podcast. See you.