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Ecommerce by Mind Map: Ecommerce

1. Introduction

1.1. Why Ecommerce/Dropshipping?

1.1.1. Thousands of retail businesses closing down and moving to online ecommerce

1.1.2. Easy to scale to worldwide

1.1.3. No product/storage cost

1.1.4. Real business that can be flipped

2. Product/Niche Selection

2.1. Best sellers on Amazon/Ebay

2.2. Spy what is people selling on Facebook. Type in phrase like: - Get yours here - Claim yours now This will come out with tons of results and a lot of them are Ecommerce related posts. Look for products that have at least 2000 likes with recent comments.

2.3. Go to Aliexpress to find the product. Price your product so that your margin is at least 60%. For example if cost at Aliexpress is $5, you need to sell it for at least $12.50. You can price it at $9.50 upfront and then charge $3 for shipping or do $12.50 with free shipping. Test which is better.

3. Driving Traffic Using Facebook

3.1. 1. Fanpage Creation

3.1.1. Based on the product selected, create a niche fanpage

3.1.2. Make sure a good profile and cover photo is uploaded

3.2. 2. Ads Creation/Structure

3.2.1. Each product should have it own individual campaign

3.2.2. Run Website Conversion Or Engagement Campaign @ $5 budget a day

3.2.3. When starting out on a brand new account, make sure the audience size that you are targeting is between 300k-500k. Flex the interests if the its too huge using the narrow audience feature during ad creation.

3.2.4. Let the ad run for 3 days before looking at the data. Here are some of the key data to look at: - CPC < $1 - ATC < $5 - CPM < $15 - CTR >2% If the data doesn't look good, switch of the ad or check your ad interest targeting.

4. Scaling

4.1. Scale to worldwide excluding countries that don't convert well

4.2. Lookalike scaling

4.2.1. View content

4.2.2. Add to cart

4.2.3. Purchase

4.2.4. Video Views %

4.2.5. Page engagement

4.3. Manual bidding scaling

4.3.1. Only when you have really high budget

5. Conclusion

5.1. Easy to implement with minimal upfront cost

5.2. Running ecommerce store is more like a business as compared to other forms of internet marketing

5.3. Growing trend in the next 2-3 years

6. Outsourcing

6.1. Product research

6.2. Order fulfilment

6.3. Customer support

7. Store Creation

7.1. Our recommended Ecommerce platform to use is Shopify.

7.2. Install this app called Oberlo and import the selected products from Aliexpress. Make sure you have good clear photos of the product and a detailed description.

7.3. Set up your shipping rate.

7.4. Also make sure you have 3-5 more related products to your selected niche. This will help increase the average order value of your store by presenting your customers with related products.