As Judge Graham, a Texas-based entrepreneur and investor says,
“I’ve learned the hard way through a few low lows that only by honing in on a niche can you be unique and stand out within your industry.”
Focusing on one customer group at a time is one of the most important business decisions you can make in dropshipping. That’s why, in this article, I’m going to take you through my five quick tips for finding a winning high-ticket niche.
So, if you’re:
... then you should definitely be looking for high-ticket products.
High-ticket drop shipping is entirely different than Ali Express or Oberlo – It’s for individuals who want to build a business online. By starting with a solid foundation of finding your winning niche, you’ll be able to build a truly successful dropshipping business.
And I’m here to get you there through these 5 simple steps.
The first step is to use Google search.
...But not just Google search in general.
Google Shopping Ads is where you’ll want to go. This is because this is the place where advertisers – or your competitors – are promoting the products that they’ve chosen to sell on Google.
So, if you can’t seem to come up with a winning niche on the top of your head, turn to Google. To start, type in anything that comes to mind into Google search, whether it be hobbies, interests or anything that you’re passionate about.
Look at the products that have images and descriptions, not the ones that have rankings on the bottom.
Then, click on the Google Shopping tab: a simple first step.
The next step is to make sure you’re looking for categories, not products.
This is why:
The people who tend to struggle the most while building drop shipping stores are the ones building general stores – as in they sell everything, sort of like a dollar store.
However, when it comes to high-ticket dropshipping, you’re building niche-specific stores.
So, for example, let’s say you decide to build a chandelier store through Shopify. If you’re researching what to find in terms of a winning niche, you’ll want to focus specifically on the category of chandeliers, not just a certain product, since that won’t provide enough information.
Knowing this, once you click on Google Shopping Ads, you’ll focus on the categories with these questions in mind:
This may help you broaden your search to a specific niche category, like indoor lighting, which offers a lot more products within a specified niche.
If you still need a little help brainstorming, check out this video from my Youtube for drop ship niche ideas! I share my top 11 picks for dropshipping niches that will be the most profitable for 2019.
Now that you know how to search Google Shopping and you’re looking for categories as opposed to specific products, the next key to remember is to make sure your products cost $500 or more.
Through Seven Figure Skills in the Drop Ship Academy, you’ll learn high-ticket dropshipping at an expert level. If you’re one of 1,500 members, you’ll know what I’m talking about for Step #3, however, if you’re not following me yet, now is as a good time to learn as any!
So, when you’re searching through your niche category, you’ll want to make sure those products within the category sell for $500 or higher resale price.
And why’s that?
By focusing on higher profit margins, you’ll profit more on each product.
So, in summary:
You’ll want to start off by searching for anything you’re interested in through Google and click on the Google Shopping Ads that pop up. These sponsored ads that will display descriptions and prices on the side of the images. Once you click on those products, you’ll be directed to a new page with many different products organized by price, brand, and sellers.
Then, you’ll look for categories. Eventually, you’ll pin down certain products, but remember we’re looking to build niche-specific stores, not general or “dollar stores”.
Then, make sure the products within that niche are on average $500 or more.
The next step is to make sure there’s no brand domination.
In other words, make sure the products within your chosen niche aren’t dominated by brands.
So, let’s say you decide your niche is going to be cameras. If a customer is going to buy a camera, they’re likely going to buy a branded camera: Sony, Nikon or Canon. The same goes for computers, you’ll likely buy Apple or Microsoft products.
When you dropship high-ticket products, you don’t want to be competing with big brands names that are spending billions of dollars promoting their brand.
The harsh truth is:
You simply won’t be noticed, no matter how lucky you get.
Not only that, but these brands won’t allow you to drop ship their product. And if they do, there’s no profit margin in it.
So, instead, you’ll want to sell something that isn’t connected to a brand in any way. Let’s go back to our chandelier idea – no brand comes to mind when you think of chandeliers. On top of that, they’re usually $500 or more: jackpot!
Make sure you’re finding a winning niche that isn’t connected to a brand so that you can sell any brand from any supplier.
The final step for finding the perfect niche is:
Spy on your competition.
This involves going back to searching for products through Google Shopping Ads. Once you find pictures that include images, descriptions, and prices, you’ll know that it’s a sponsored ad by someone who could be your potential future competitor.
If they’re paying for ads on Google and you find a store listed through that ad, it’s clear that they’re spending a lot of money to have that ad shown… which means one thing:
It’s a profitable niche.
Once you find these sponsored ads and therefore the individuals behind the ads, it’s time to spy on them and their store:
By spying on your competition and answering these questions, you’ll be able to tell whether or not your product is a winner. On top of that, knowing your competition will help you understand your audience and how to do better than your competition once you’re up and running.
If you’re unfamiliar with high-ticket dropshipping, this all may seem a bit confusing.
However, if you are familiar and have been following me for a while, you’ll know that we work on earning a minimum of $300 or more in profit per order – and this involves trying to not sell to everyone.
Focusing on a target audience, someone who can afford our products, working with domestic suppliers, then building a store around that helps create successful dropshipping outcomes, every time.
And really, it’s a lifestyle business.
That’s because you’re not trying to get thousands of orders.
Think about it:
If you get just one sale a day, you can end up making $10,000 or more in profit per month. And this is all based on the high-ticket dropshipping approach.
Hungry for more knowledge (and profit)? Subscribe to my YouTube channel to stay up to date with everything you need to know about high-ticket dropshipping success.
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