0 conversion rate - when should I give up

[Mester]

Hi
I'm new to the forum, sorry if I chose the wrong section, but I'm still learning how to navigate through this.
About 2 months ago I started dropshipping (with shopify). I've spent some money on advertising since then, but I've also expanded social media. I focused on tiktok, youtube and pinterest (which for the moment I gave up). I haven't started publishing on facebook and instagram yet. Is this a mistake?
My product doesn't solve any real problem but without a doubt it has a wow effect, and from what I noticed, such products work well on tiktok.
Up to this point I had 500 visits to the site, but I haven't had any sales yet. The website seems professional to me and I guess it shouldn't be a problem. I don't know if providing a link here will qualify as self promotion, so I will hold off for now.
And here is my question :
At what number of entries on the site should I give up? I think my product has potential but I'm starting to doubt it more and more.

 

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[Cano]

Hi
I'm new to the forum, sorry if I chose the wrong section, but I'm still learning how to navigate through this.
About 2 months ago I started dropshipping (with shopify). I've spent some money on advertising since then, but I've also expanded social media. I focused on tiktok, youtube and pinterest (which for the moment I gave up). I haven't started publishing on facebook and instagram yet. Is this a mistake?
My product doesn't solve any real problem but without a doubt it has a wow effect, and from what I noticed, such products work well on tiktok.
Up to this point I had 500 visits to the site, but I haven't had any sales yet. The website seems professional to me and I guess it shouldn't be a problem. I don't know if providing a link here will qualify as self promotion, so I will hold off for now.
And here is my question :
At what number of entries on the site should I give up? I think my product has potential but I'm starting to doubt it more and more.

Welcome to the Forum,

I want to say first that business isnt just getting a product from china, make a online store, advertise on social media and then hope to get people to buy it, its much more than that. It sounds like you money driven not value driven.

provide value, solve problems and fill peoples needs, dont turn it around.

Also dont ask "when should i give up?", ask yourself "why are people not buying?" and "do i provide value?".

i hope this could help you find the answer to your questions.

 

[MJ DeMarco]

Wow, another dropshipping "I can't make money" thread.

I wonder what could go wrong?

Your problem has likely nothing to do with your execution, your ads, your website, or your conversion.

The problem is you went into business with an objective to make easy money. Except is isn't easy. It's super hard, especially since you joined a massive cattle call laden with easy-entry money-chasers.

And now you found out, it isn't easy... but 1000% harder than you could possibly imagine. Someone should write a book about why such ventures like these turn out to be duds, a 99.9% chance of failure.

Obviously, I have no advice that could help turn your conversion around other than dump everything and try again, next time, with a different premise. Good luck, if you shall heed the suggestion. Yes, I'm trying to be helpful.

 

[2dads]

Playing in a space which has very little risk (no stock) and saturated with competition - combined with no one asking for the product (DEMAND or NEED)

I suggest reading the book again, A wow factor can't sell a product alone (UNLESS IT IS ART and that it's self meet's some need)

Best of luck mate

 

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[Antifragile]

Welcome to the Forum,

I want to say first that business isnt just getting a product from china, make a online store, advertise on social media and then hope to get people to buy it, its much more than that. It sounds like you money driven not value driven.

provide value, solve problems and fill peoples needs, dont turn it around.

Also dont ask "when should i give up?", ask yourself "why are people not buying?" and "do i provide value?".

i hope this could help you find the answer to your questions.

This.

OP - read the above a few times if you need to. Business is about solving problems and removing inconveniences. It’s not about “wow factor”. Market decides, not you - whether what you have adds any value. If it doesn’t… well, you know how that feels, don’t you?!
Shift your thinking.

 

[Joejordan95]

Re-read the books and re-read all these messages.



Doesn't sound like you're providing any value at all. I would not buy a product just because it made me go WOW I'd buy something because I NEED it or I want it because its going to benefit me.

Wow Isn't enough.

You're not converting because your product is probably pointless.

Don't be discouraged though.

Go OVER everything you've done so far, work out how it could of been done better then try again and preferably not a drop shipping store.

Maybe develop your own product instead and forget the drop shipping

I don't think there's many people lining up to receive dodgy items with no real benefit or value that take 60 days to be shipped

 

[thejessecarr21]

Welcome to the Forum,

I want to say first that business isnt just getting a product from china, make a online store, advertise on social media and then hope to get people to buy it, its much more than that. It sounds like you money driven not value driven.

provide value, solve problems and fill peoples needs, dont turn it around.

Also dont ask "when should i give up?", ask yourself "why are people not buying?" and "do i provide value?".

i hope this could help you find the answer to your questions.

I 10000% agree with this. People get into dropshipping with the pre-mindset of already trying to plan when they should give up. That is not a business mindset. Dropshipping SHOULD be used as a bootstrap to kickoff your ecommerce brand. Dropship for a month then shift into your own products, making the existing ones you sold better. Value should always be first.

 

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[thejessecarr21]

Hi
I'm new to the forum, sorry if I chose the wrong section, but I'm still learning how to navigate through this.
About 2 months ago I started dropshipping (with shopify). I've spent some money on advertising since then, but I've also expanded social media. I focused on tiktok, youtube and pinterest (which for the moment I gave up). I haven't started publishing on facebook and instagram yet. Is this a mistake?
My product doesn't solve any real problem but without a doubt it has a wow effect, and from what I noticed, such products work well on tiktok.
Up to this point I had 500 visits to the site, but I haven't had any sales yet. The website seems professional to me and I guess it shouldn't be a problem. I don't know if providing a link here will qualify as self promotion, so I will hold off for now.
And here is my question :
At what number of entries on the site should I give up? I think my product has potential but I'm starting to doubt it more and more.

Many have given great answers but thought I would give my two cents. You shot yourself in the foot by believing wow factor sells and that stores on Tiktok are doing well with "wow factor". Here's the thing, just because a store has likes, comments, etc. Does not mean it is doing well. EVEN if a store is making $1k a day in revenue it doesn't mean it is doing well, they could easily be losing money every single sale.

Now to dive deeper, nothing just has "WOW" factor. Everything someone buys today solves some sort of problem. Whether that is stress relief, confidence, etc. For example, I see lots of people selling those aroma misters on Tiktok. They've been selling them for years honestly. Most would say that the glowing lights and fog mean they are selling based on WOW factor. But that isn't true. There are many problems they solve, they relieve stress, they are calming, they help people sleep, etc.

But now here is the caveat. Dropshipping is not only the MOST saturated online business today, but it's also a business with the lowest average margins online. So the product you choose matters, it dictates how you will need to market it. On top of that you can't just sell what everyone else is doing, copy what they do and expect to get results. You gotta think strategically.

 

[Mester]

Hi
I'm new to the forum, sorry if I chose the wrong section, but I'm still learning how to navigate through this.
About 2 months ago I started dropshipping (with shopify). I've spent some money on advertising since then, but I've also expanded social media. I focused on tiktok, youtube and pinterest (which for the moment I gave up). I haven't started publishing on facebook and instagram yet. Is this a mistake?
My product doesn't solve any real problem but without a doubt it has a wow effect, and from what I noticed, such products work well on tiktok.
Up to this point I had 500 visits to the site, but I haven't had any sales yet. The website seems professional to me and I guess it shouldn't be a problem. I don't know if providing a link here will qualify as self promotion, so I will hold off for now.
And here is my question :
At what number of entries on the site should I give up? I think my product has potential but I'm starting to doubt it more and more.

Now I am on a break from dropshipping and I am thinking of creating something new. Thank you for all your replies. I understood mistakes in my assumption and you saved me from bigger losses. After all, I don't consider it as a waste of time because I learned a lot of new things. Good luck

 

[RicardoGrande]

Hey Mester, Good on you for trying something!

It looks like a lot of people gave you a tough time here, I wanted to point out the flipside: plenty of TFFers made money, make money, or made their entire fortunes on ecommerce.
So maybe the thing you picked off of alibaba didn't have any draw, didn't provide any real value or you didn't market it the right way... you still took action and got some experience and you got some feedback about providing real VALUE to customers.

I hope you can keep it up and strike gold someday keep it up man.

 

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[MJ DeMarco]

After all, I don't consider it as a waste of time because I learned a lot of new things.

Congrats, that's a great mindset for bigger and better things. I crap on affiliate marketing, dropshipping, and other low-entry stuff, but ultimately these are great learning experiences, even if you make nothing.

 

[biophase]

Hi
I'm new to the forum, sorry if I chose the wrong section, but I'm still learning how to navigate through this.
About 2 months ago I started dropshipping (with shopify). I've spent some money on advertising since then, but I've also expanded social media. I focused on tiktok, youtube and pinterest (which for the moment I gave up). I haven't started publishing on facebook and instagram yet. Is this a mistake?
My product doesn't solve any real problem but without a doubt it has a wow effect, and from what I noticed, such products work well on tiktok.
Up to this point I had 500 visits to the site, but I haven't had any sales yet. The website seems professional to me and I guess it shouldn't be a problem. I don't know if providing a link here will qualify as self promotion, so I will hold off for now.
And here is my question :
At what number of entries on the site should I give up? I think my product has potential but I'm starting to doubt it more and more.

Are you getting any add to carts? How many are abandoning at the checkout page?

 

[Mester]

Are you getting any add to carts? How many are abandoning at the checkout page?

As I wrote earlier, I'm done with that shop. I had 2 or 3 adds to cart.

 

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[DavidePaco00]

Hi
I'm new to the forum, sorry if I chose the wrong section, but I'm still learning how to navigate through this.
About 2 months ago I started dropshipping (with shopify). I've spent some money on advertising since then, but I've also expanded social media. I focused on tiktok, youtube and pinterest (which for the moment I gave up). I haven't started publishing on facebook and instagram yet. Is this a mistake?
My product doesn't solve any real problem but without a doubt it has a wow effect, and from what I noticed, such products work well on tiktok.
Up to this point I had 500 visits to the site, but I haven't had any sales yet. The website seems professional to me and I guess it shouldn't be a problem. I don't know if providing a link here will qualify as self promotion, so I will hold off for now.
And here is my question :
At what number of entries on the site should I give up? I think my product has potential but I'm starting to doubt it more and more.

I'm going to talk in dropshippping mode, like many thigs in life , dropshipping is a numbers game. Money making in dropshipping is almost always short term ( 1 -2 months maximum).

I woudn't say it's something to dismiss entirely, but it has it's own limitations.

Dropshipping can be good to text an idea, without investing too much physically and psycologically in the project.

It's a good thing to do because anyone as to start somewhere, and not everyone has the resources, both in terms of capital and skills, to build a brand and make it work entirely.

Dropshipping can teach you two very important skills: how to study the market, and how to make advertisment. Use it as a playground to learn skill

Is it feesable in the long run? Yes and no.

What I mean by that is that I know a guy that has been dropshipping for 4 years, and has make a pretty good maount of money.

What he realized tho, is that he has a problem that most of us wish to had.

He has too much money but the platform he uses to advertise makes his capital useless.

For this reason he decided to move to Dubai and open agencies there.

After a certain point dropshipping has it's own limitations.

First an foremost, don' attach emotionally to an idea, if it didn't work, it didn't work.

Second of all, see what trends are, and use an angle that other competitors fail to address.

Last but no least, I always suggest having an accountability partner, or a mentor, to allow you to follow a certain pathh, without falling into information overload. What I mean by that is , follow a path, if it doesn't work, move o something else but, please, don't try to follow two paths, or idea , at once, you're only going to make half the results.

Cheers

Davide

 

[sanas915]

hi, i'am in the same situtation as you now ,in fact i learned alllot of think but it doesn't work, so i will read again the book and look for some problems to get a solution that alow me to creat a value to my community!!!