How much money you need to start marketing your store (and the best ways to spend it)

January 22, 2020
How much money you need to start marketing your store (and the best ways to spend it) 1

How much money do I need for marketing when starting a store? How much does it cost to advertise on Facebook? How many products do I need to advertise at a time? When should I cut my ads? If these questions sound familiar, you’re not alone. Everyone asks stuff like this. And we’re here with the answers. In this episode, we are once again enlisting Oberlo’s own dropshipping mastermind Magda Kuzminski, who breaks down the 10 most frequently asked ecommerce questions. Here are some of the topics Magda hits on: Investing in data: “It’s important to note that when you’re spending this money on ecommerce marketing, you’re not gambling it away, you’re investing it. You’re investing it into data. And the data that you’re investing ecommerce marketing into can mean a few different things. As a basis, it’s at least gonna be showing you what is and isn’t working in terms of your products. Maybe your product isn’t picking up traction. Second, it will tell you whether maybe your audience is or isn’t working. Are you marketing it to the right people? And third, it depends on the platform you’re using, but most dropshippers use Facebook ads when promoting their dropshipping business with ecommerce marketing.” Falling in love with a product: “As a dropshipper myself, I have fallen victim to this so many times. I fall in love with the idea of a product. I see the vision, I see the millions behind a product when I find it on AliExpress. I know this is a winner. But it might not be, and sometimes it really isn’t. I’ve wasted a lot of money on products that I thought were gonna be winners for sure, I could see it, and I could see my bank account overflowing. But they weren’t, something about them just didn’t hit with customers, customers just didn’t necessarily want them. Maybe it was the price, maybe it was the way that it looked, maybe it just didn’t hit a nerve with customers. And that’s okay, because we’re not marrying our products, we’re trying to sell them.” Determining the best target markets: “Geography is so important when it comes to targeting because different countries have different factors involved that you want to keep in mind. The first is spending power. Most dropshippers start out by targeting the United States with their ads because the United States spends the most money. It’s the biggest market by far, it totally crushes the rest of the world, and people in the United States buy a lot. However, that also means that running ads in the United States is expensive because it can be extremely competitive. So you really want to keep that in mind when considering ecommerce marketing there.” There is plenty more – this episode is a monster. So join us as we hit on the 10 most frequently asked marketing questions.