People hear about how eCommerce is the next big thing and start their own Shopify store and start dropshipping... and then they don't succeed because they realize the truth that the Advertising Budget is crucial. Paid Facebook Ad traffic is essential in eCom success. You need at least $200 per day to hit thousands in revenue per week. eCom is not for the broke people. What is your daily and weekly Advertising budget?
For me I stick with about $20/day and I earned over $10k/monthly I was able to quit my job as Accounting in a Industrial company, and Now I can travel the world and live the life I want For me budget isn't everything you need to succeed in eCom business, there is a lot of other factors Hope to hear what other people's budget and what are top traffic sources for them?
No doubt Without advertisement its impossible to earn money via ecommerce but i am affraid someone mentioned above $200 per day budget for this. Its too much i think and a beginner cant afford this amount. Can anyone share some cheap source of advertisement here
While AdWords does a good job, we tend to use our own Excel sheets and average around $400 a month. Advertising as such (at least in my eyes) can only succeed in the long term through customer retention. For this we created an Excel sheet with these columns. First keyword, Keyword cost per sale, First cart value, Amount of Orders, Customer life time value It takes a while to set up, but it allows you to see which keywords, even though performing seemingly well, you will want to drop because: - Customers only order once - Customers order low cart amounts - Customers have a low life time value + Compared to the average cost to get a customer through a certain keyword Cheers
Nowadays is really simple to define your budget, you must have Google Analytics installed into your ecommerce, once you have installed correctly, you will be able to perfectly track your revenue and ROI. IF (ROI>0 ) { Budget = Budget + 1}; With that simple example you will maximize you earnings. That all you need to know.
These days without advertisements we don't grow our online e-commerce store, we must need to run google ads or Facebook ads. I had run a campaign for a client on Facebook, his budget is $50/day and $1500 per month, and he got his return in just 20 days on ad spent. so it is all based on your product and targeted customers.
Well, budget is not the issue, the issue is when you don't know how to run the optimized campaign & whom to run it for. If the campaign is well developed, it can bring up to 900 1000 % ROI, which would make the budget a secondary issue. Need is to look after the ad campaigns to make it perfect, people will buy it for sure if from landing page to ad is up to mark.
Last year, I was looking to start online business and was struggling to sell at online marketplaces like Amazon, Alibaba or Ebay. Their costs are going high and mostly unpredictable, therefore, I decided to join the most comprehensive and very powerful ecommerce platform, called Webstore™. I spend $2400 per year and this powerful ecommerce platform is made my business a success. Unlike shopify or woocommerce, their platform is very userfrinedly, Very easy to manage most of the tools and features those cpme along with it and I do not have to depend on a any tech person to build my store or integrate plugins; It came with all things I needed to successfully run the business. It is amazing! They set it up for me and their customer support is excllent. They really cared for me and my business.