Master the Art of Inventory Management for High-Ticket Dropshipping

What's up guys, Trevor here with eCommerce Paradise and today I want to give you one quick hack you can make to increase your conversion rate, make more money, and profit more with your high-ticket dropshipping store.

If it's your first time listening to the podcast, definitely get my free niches list and niche research training guide at eCommerceParadise.com slash niches. All right, let's get into it. So it's really simple, really easy, and there are tools you can use to automate this task, but it is updating inventory on your website. I know it sounds kind of silly because most dropshipping stores you would think already have their inventory updated, but a lot don't.

And a lot of connections with suppliers are manual connections. And so you have to actually go through and update the inventory manually on your website. And in order to do that, you've got to go through the Shopify inventory tab and you've got to update the inventory. But there is an automation tool you can use, and that's called StockSync. It's a Shopify app, and it's really good at helping you to automate your inventory so that you can focus more on other stuff.

But inventory is really key because you can update your Google Merchant Center feed according to what's in stock and out of stock on your website and with your supplier, obviously. So the way you would do that is by using a Google Shopping Feed app, kind of like some process Google Shopping Feed app or a similar one where you will actually connect to a particular collection on your website that is an automated collection.

And the filter in that collection should be if inventory is greater than zero, the number of inventory is greater than zero on any particular product, then it is included in the collection. All right. So that particular collection would then be all the products that are on your site that are in stock only.

And so if any product on your site has a zero inventory amount on it, which you can do through StockSync automatically, your supplier just sends you like a CSV file of their inventory and it matches the SKUs on your website. And then it updates the inventory. And by the way, I would always recommend continue selling when out of stock because even if something's out of stock, you might still want to sell it and take a back order.

Maybe it's in another month or two and the customer's cool with that, okay? So don't limit yourself. Now, if a particular product is discontinued, of course, you wouldn't want to continue selling that, but you might want to keep the product page up in your website anyways, just because you might get organic traffic or something and then they see it's discontinued, sold out, whatever, they might browse through your website for other products.

So make sure that you update your inventory on your website and you have it connected to your shopping feed and what that will do is automatically daily you know google merchant center will fetch your feed or your feed will be pushed to google merchant center however you set it up and then the merchant center feed will be updated and only have in-stock products that way, so when your ads or shopping ads are running it's pulling from your google merchant center feed so.

Set up to only run ads paid traffic to product listings that are in stock and so you know it's way better than obviously running paid ads to products that are out of stock so you'll increase your conversion rate because people will see it's in stock right and you'll also increase your sell-through rate because people will buy and then they'll actually keep the order because it's going to ship out right away instead of having excuse me a bunch of back orders or orders

that are out of stock where you have to call and explain to the customer oh sorry it's out of stock do you want to wait a certain amount of weeks or months to get it and a lot of times the products will be completely out of stock they won't even know the return date so you just have to make that decision on your own but i think the important thing is that you don't spend money advertising products that are out of stock you usually do is prioritize by the

top ad spend brands so check out your top like five or ten brands and your ads and do the inventory updates on those because the rest of your brands probably are going to be like under a few dollars a day you spend on them. But the top like five or 10, maybe 20 if you have a ton of brands are going to be, you know, $10 a day or more.

And usually you're looking in your products campaign because you should be spending the most in that, which is your high spend campaign, your SKU and model campaign, targeting those SKU and model keywords. You can also look at the brands campaign because you also spend a bit on that, but we definitely not recommend spending a bunch on your generic campaign unless the products are lower costs. And more impulse by decision products.

But that's a whole nother topic for different podcasts. So yeah, just make sure that you update inventory, connect it to your Google Merchant Center feed and update it based on the brands that get the most ad spend. You'll lower your ad costs over time, increase your conversion rate and increase your sell-through rate. And then you can focus on really optimizing those particular SKUs that sell really well on your website.

And if there's still particular products and SKUs that don't sell well, even though you spend a lot on ads, it'll give you an idea too, Like, why aren't those converting? Look at your competitors, figure out what their offers are, try to make similar offers on your website.

And that's it. All right, guys, I hope you enjoyed the episode. Make sure you subscribe and leave a review on iTunes and leave a comment on YouTube. If you have any questions, happy to help. Go check out my offers at ecommercepeerodest.com. I have a free course and niches list. I also have a over-the-shoulder masterclass showing you how to set up a high-ticket dropshipping store and business and scale it.

And I also have a turnkey starter store and complete business build service, you know, you can check that out. Ecommerceparadise.com slash tourniquet. Thanks for listening. I'll see you in the next episode.