Auto news on Youtube Apr 2 2018

Hey everyone, my name's David – and it's question time.

This is our weekly series were we take a closer look at a question which one of our viewers

left in the comments section from a recent video of ours.

If you've got a question of your own, don't be shy!

Leave it in the comments section and I'll be sure to read it.

Okay, so here's the question I'll be answering today:

So, this one is from Tadiwa, who is asking how much money they would need before they

start their own store.

Thanks for that question, Tadiwa.

When you're getting started with your Oberlo dropshipping store, there are certain expenses

which you'll need to pay, like your monthly Shopify subscription, which will cost $29

USD a month.

When you're designing your store you can use a free theme, but you may want to spend

some of your business funds for custom designs, like a one-of-a-kind logo.

I'd budget $20-$50 USD for this – but honestly, you don't need any custom designs

to make a sale.

You might also want to place some test orders before you launch your dropshipping store

– just so you can review the quality of the items which you'll be selling, and put

yourself in the shoes of your future customers.

I'd budget another $30 USD for this, but again, this isn't essential.

Now, when you're getting started with your store, there's no guarantee that you'll

draw any visitors to your store.

And if you have no visitors, you won't be able to make any sales.

This is why it's imperative that you budget some money for paid marketing campaigns when

you're getting started with your store.

And the question of how much money you'll need for those paid marketing campaigns is

a tough one.

Really – it all depends on what you're selling, and who you're selling to.

With paid marketing campaigns, you're paying for clicks.

So, if you set up Facebook ads, you'll be paying for visits to your online store.

Factor in the fact that the average global conversion rate is 2%, which means that you'll

need to draw an average of 50 visitors to your store before you can make a sale.

So – it's tough to give you a definitive figure to how much money that you'll need

for marketing.

I'd say a baseline that you'd need to get started would be $150 USD, just so you

can test out some campaigns, find the correct audience, and hopefully start to make some

sales.

We do recommend trying out Facebook ads for your paid marketing campaigns.

If you're interested in learning more about them, we'll include some links in the description

to our Facebook marketing tutorials.

All in all, you'll need at least $180USD to get your store up and running, and to draw

some visitors to your products.

Hope this helped you with your store, Tadiwa, and I wish you the best of luck to you and

your store.

Now, what about you?

Do you have something that you need help with?

Let us know below.

We check through the comments section every day and we'd love to use your question in

our next video.

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