9-Figure Winning Product Research /w Alex Brown | Shopify
In this video, I interview Alex Brown, CMO Of DFO Global, who oversees a global ecommerce empire with 9 figures in annual revenue. He’s also an expert media buyer with over $250M in managed digital spend.
In the first half of the video, me and Alex discuss how he and his team find winning products. He reveals what are the characteristics he’s looking for when doing product research.
This part will definitely improve the way you think about researching dropshipping products for your Shopify store. What he shares is not exactly a step-by-step formula on how to find winning shopify products, but more of a framework. A mindset.
Who is Alex Brown
Alex is the CMO Of DFO Global. He oversees a global ecommerce empire with 9 figures in annual revenue. He’s also an expert media buyer with over $250M in managed digital spend.
Finding the right product is more important than marketing
We as marketers can get so caught up in a product, but the general population might not be interested in…
The MARKET is always RIGHT.
Your best selling product could be the most random thing. So don’t judge and dismiss anything, before you test it.
The characteristics of a WINNER product
Before we even start testing a product, we have a list of criteria that a product should meet, in order to qualify for testing.
If a product meets at least 70% of that criteria, it’s very likely that it will become successful.
So the products that qualify, we move them to our 3-Stage Process for testing a product.
The 3-Stage Process for TESTING a product
First is INTEREST
Second is CONVERSIONS
Third is OPTIMIZATION
We are running campaigns, but we are not even taking real orders. We are driving the users to a standard Shopify product page. We even let them add it to cart, but when they do, we notify them that the product is not available yet, but we can notify them when it is.
So this is what we do in the first 2 stages. The 3rd stage “Optimization” is all about improving the ads, funnels, websites, and product, based on the data we gathered in the first 2 phases.
The "Marketer's Syndrome" and why it's dangerous to have it in ecommerce
“With enough time and enough money, I can make anything work” – Your average marketer.
But this is a dangerous way to think. Especially in the ecommerce space.
Don’t get ROMANTIC about the products you are testing/selling.
Scale those who sell, Kill those who don’t. As simple as that.
What is a typical lifespan of a WINNER product
The typical lifespan of a winner product is about 8 months to a year. We are always chasing trends. We make 40% of our revenue in Q4. Unless you are building a massive brand, you have to accept that every product has a lifespan. So you either scale the shit out of it while you can, or you leave a lot of money on the table.
Want more valuable insights for your ecommerce business? Read the case study below:
Case Study: How I Got Into Russel’s 2-Comma Club in 3 Months by Scaling 1 eCommerce Funnel, And How You Can Too
If you have an online store doing at least 10-20k pm and you want to safely scale it to high 6-figs (and net 35-50%), then this CASE STUDY is just for YOU…
Click the link below to watch it