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Gustavo CG

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Gustavo CG last won the day on April 15

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  1. @Pedro Grz Hi Pedro! I just published a post about instagram influencers, in which I give some advice about negotiations with these accounts. You should pay special attention to the engagement of the influencers’ followers. Check out my post:
  2. I guess many people will think that working with instagram in influencer marketing will bring them benefits, and they are right. But you must be careful with the influencers we choose to negotiate. In this post I will not go into how much should be paid based on the followers they have, but rather on the "quality" of the influencers regardless of how much they cost or how many followers they have. Influencers Quality The most important thing when working with influencer marketing is to find influencers with active and "real" followers. When I say real, I mean accounts of private individuals. Many influencers are involved in "groups of instagram pages" which interact in the publications of these influencers to give them visibility. You should note that the majority of the engagement of the publications comes from real followers and not from these accounts belonging to these "groups of pages of influencers". Influencers Engagement It doesn't matter if the account is small, the important thing is that it has engagement. It is preferable to pay $50 to an account with 10k followers involved and with high engagement, to pay $1000 in an account with millions of followers with low engagement. I assure you that this will bring more profitability to your investment and prevent you from throwing money. So, good luck with searching influencers! You can even comment down below the influencers you plan to work with and together we can discuss whether they really are good options or not. We are all here to help each other and move forward!💪 If you liked this post please let me know by clicking on the 💙 and leave a comment if you have information that helps more people. I'd really appreciate it.
  3. @Akrc910 @Winston I am very happy that you found my post interesting and helped you. It would help me a lot if you gave it a like. I would really appreciate it.
  4. CUSTOMERS REVIEWS I think the customer is a factor to consider when doing dropshipping. Usually (although Verum does not give much relevance to this) we rely on the opinions of other consumers when we buy a product online. So when you develop your own store, I think you should avoid putting false reviews, since they are easily detected that they are written by the web administrator and destroy the trust of the customer who had thought about making the purchase. Your customers' reviews should tell a compelling story with which your target audience feels identified, but now the key question comes: how do you get reviews that are going to have a positive and effective impact? Post inverted recommendations An inverted recommendation is a positive review that begins with a skeptical tone. It is based on the uncertainty felt by the buyer who wrote it before the purchase, the reasons why he decided to choose your brand and why it was the right decision. These recommendations present a more genuine image than excessively positive opinions, which appear to be artificial and exaggerated. By recognizing the doubts that a user had at an initial moment, you will create an immediate connection with a potential customer that is comparing your products with those of your competition. Highlight your most prominent and influential customers Celebrities are often admired for their success, their skills and their knowledge. When a company has an outstanding ambassador recommending its products, the perceived value of its brand increases significantly. This is due, in part, to a cognitive bias called the halo effect. According to this theory, the impression that an individual has of one thing is capable of influencing their opinion on a different one, even if they are not related. What is the connection between the halo effect and conversions? Basically, that the consumer's thinking is summed up in: "I admire X, and X recommends this product ... so it must be worth buying!" Includes reviews that offer insights Reviews are relatively easy to obtain; The challenge is to succeed with them. Potential customers are usually not impressed with generic compliments such as: "This product is easy to use!" How do you get a review that is brief, relevant, and credible? To begin, ask your consumers to be specific: what attribute do they love, and why? Do they have anecdotes that prove their success? Then provide context, add a photograph of the review author along with his credentials, to humanize his testimony and give him a greater sense of truthfulness.
  5. @Bembe Thank you bro! If you know more interesting cognitive biases let me know.
  6. @CryptoKitty I'm glad you find it useful! I will continue posting interesting information.
  7. @Bembe Thanks bro. I hope the blog allows me to edit it soon. Thus the information will be clearer.
  8. Cognitive biases are errors in the way we perceive our environments and make judgements. And as they affect nearly all of us, marketers are able to capitalise on them. Marketing techniques have evolved greatly in the modern era. Marketing is no longer limited to just the idea of advertising and branding products. It is about creating awareness about products in the mind of the consumer such that a particular product can resonate better. Marketing activities nowadays are much more targeted and look to influence the potential customers which are more likely to buy the product. This customer targeting can be done using a number of different ways. One of the most common techniques used for this is the use of cognitive biases. These biases exist in humans inherently and they can influence a consumer's rational and his or her reasoning ability. For instance, an old adage in marketing strategy is that the more a product is visible, the higher is its ability to generate sales. So let’s have a look at the cognitive biases that will make your marketing strategy more effective: 1. Loss aversion Creating a fallacy of a potential loss of something is one of the oldest tricks of marketing. The loss aversion bias is responsible for this technique being so popular. If a brand manages to create an image in the mind of the consumers that by not buying a particular product, they are likely to lose out on something, it can successfully manage to achieve higher sales of its products. People are more willing to avoid a loss as compared to gaining a similar amount. 2. Choice supportive bias Humans are more likely to make a choice and then justify it to their near and dear ones. According to this bias, consumers often make illogical choices and then later on make logical arguments in order to justify their purchase. In terms of marketing, if a product manages to create a desirability factor in the mind of the consumer, they will buy it and then later on justify their decision. 3. Framing effect According to the framing effect, consumers are more likely to make a purchase based on the way a product is presented. For instance, if a shortcoming of a product is presented as a beneficial feature by making use of wordplay, it becomes more likely to be a success. Framing bias is widely used in the world of marketing. 4. Anchoring According to the anchoring bias, a consumer is likely to purchase a product that was presented to him or her as the first piece of information. Anchoring creates a brand recall in the mind of the consumers which results in the specified product being sold. Anchoring bias can be used by salespersons in stores to ensure that a particular product is pushed harder. 5. Confirmation bias Confirmation Bias is another common form of cognitive biases. According to this bias, the new information processed by the human mind confirms the pre-existing beliefs. Humans tend to hold on to their beliefs strongly and look for confirmation of such beliefs. For instance, if a brand can create a situation where it can affirm the belief of the consumer pertaining to certain ingredients of the product, it is more likely to be a success in the market. 6. Bandwagon effect The bandwagon effect is a cognitive bias which is well exploited by consumer goods companies as well as political organisations. According to the principle, a consumer is more likely to purchase a product that is being purchased by others. This is because it can create an illusion of being useful. A good way for marketers to exploit this effect is by creating advertising content that is focused on high sales already achieved by the product as well as popularity graphs. This attracts new consumers and helps in achieving higher sales. 7. Salience This bias originates from the human tendency to buy products which stand out from the others. Marketers can make use of this bias by providing attractive packaging or branding to their products. If a product has a packaging or a label that is completely unique then it id likely to stand out in the minds of the consumer. Additionally, if a product has a unique feature which separates it from the rest, it is more likely to be purchased. Marketers can make use of words such as “exclusive” in order to exploit this bias and boost the sales of their products. 8. In-group favouritism Consumers look to buy products which are preferred by their group or their circle. For instance, if a product is chosen by the close friends of an individual, they are more likely to go for it, rather than following a person out of their group. In order to exploit this, marketers can promote products based on groups or regions. They can create an illusion that a particular product is favoured by the people of a particular region. This way, new consumers from the area will be attracted to the product, resulting in better sales and potentially more profits. 9. Zero-risk bias According to the zero risk bias, a consumer is more likely to purchase a product if they feel it is low on risk, even if this is not entirely true. For example, if a brand can create the illusion of durability regarding a product, the consumers are more likely to buy it. This holds true especially in the case of electrical equipment which can have certain inherent risks in operation. If the consumer is convinced that there is zero risk, it helps in driving sales. 10. Mere exposure effect As the name suggests, mere exposure to a product can help in swaying the purchase decision of the consumers. If a product has high in-store visibility, a consumer is more likely to believe that the product is a popular one, hence creating a trigger for a purchase decision. Such a bias is commonly exploited by the consumer goods industry. Store shelves are packed with goods that have better margins so that the consumer goes for that particular product, resulting in better sales.
  9. @Pedro Grz Thank you so much bro! I really appreciate it. And yes, I have spent some hours studying the Verum John's videos.
  10. @baller Yes bro, I posted my notes from that video! The problem is I published the post by mistake before editing it and it was quite ugly. At the moment there is no option to edit or delete it. 😞
  11. @Pedro Grz Thank you buddy, I'm glad you liked it.
  12. @arnakena Thank's bro! It is a very frequent doubt that occurs in beginners. Verum John explains it perfectly on his YouTube channel. I only share my notes which I think may be helpful.
  13. @David Lee Thank you man! You are right. I hope this content can help many people 😄
  14. Gustavo CG

    SALES FUNNEL

    1ST STEP: PEOPLE WHO VIEW OUR AD & PEOPLE WHO CLICK OUR LINK METRICS TO LOOK OUT FOR CPM: Cost per 1000 Impressions CTR: Outbound Click Through Rate (nº Clicks / nº Impressions) CPC: Cost Per Link Click VAWT: Video Average Watch Time If we’re having a problem with any of these metrics: CPC (high), CTR (low), VAWT (low). There are 2 possible reasons: People AREN’T INTERESTED in the PRODUCT. Our ADVERTISEMENT is NOT GOOD. What do we have to do? Take a look at the CPC CPM and CTR both impact CPC If CPM < $15 → CPC = $0,25 - $0,80. If CPC is over that range, it could be for a low CTR (way under 1%). If CPM > $15 → increase the audience size to make the CPM lower. This could reduce the CPC. Take a look at the VAWT. If VAWT is low means that the video was not engaging. That turns CTR low. Solutions: Lower CPC by increasing CTR through a better video creative. After trying different new creatives, VAWT turns high but CTR don’t, then change the product. 2ND STEP: PEOPLE WHO VIEW OUR PRODUCT METRICS TO LOOK OUT FOR Cost per Content View (Exposes issues with Home Page) If Content views < 1/2 link clicks → BAD PERFORMANCE Bad performance is usually an indicator of: High Price. Poorly designed Home Page. 3RD STEP: PEOPLE WHO ADD TO CART METRICS TO LOOK OUT FOR Cost per add to cart. Shows that your product page can convert. If people aren’t adding to cart, your product page needs to change. If add to cart < 10% Content views → BAD PERFORMANCE Reconsider product-market fit. 4TH STEP: PEOPLE WHO CHECKOUT METRICS TO LOOK OUT FOR Cost per checkout initiated. Compare with add to cart to see what kind of audience we have. Avoid people who like to add to cart without checking out. If checkouts < 1/2 add to cart → BAD PERFORMANCE Target a different audience. 5TH STEP: PEOPLE WHO PURCHASE METRICS TO LOOK OUT FOR Cost per Purchase (CPP) Compare with Checkouts to see if there is something wrong with our checkouts. Common checkout problems: Surprising shipping charges No checkout logo Unavailable payment methods If Purchases < 1/2 checkouts → BAD PERFORMANCE Solutions: Clean up checkout If it doesn’t work, try targeting different audiences
  15. WHAT ARE THE RISKS? Don’t understand the delays in receiving payments. Shopify only pays out during the weekdays. After paying for ads and product costs it is possible to run out of money to continue operating. WHAT SHOULD WE DO? Avoid running out of cash when scaling. Be especially careful of weekends. If we spend all our money on ads, the delay in receiving payments then shipping products will be a problem. Always have enough to ship the same day. GETTING PAYMENTS RESERVED (ALTERNATIVE PROCESSORS) Shopify payments, stripe or paypal may reserve 10% - 25% of your sales, and are usually held for 90 days before being released. Make sure the remaining cash flow can cover cost sustainably. Otherwise we might need a credit card to pay for some things upfront. Look into alternative high risk payment processors. CREDIT CARDS Credit cards let us scale faster. They build our credit as long as we’re responsible. We should be able to use them without interest if cash flow is managed.
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