Jump to content

Project Verum: The Foundations is now available! projectverum.org

Andy Shwetzer

Moderators
  • Content Count

    13
  • Joined

  • Last visited

  • Days Won

    4

Andy Shwetzer last won the day on June 1

Andy Shwetzer had the most liked content!

Community Reputation

18 Good

1 Follower

About Andy Shwetzer

  • Rank
    Newbie

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. Incredibly inspiring story brother 😉Thanks for sharing.
  2. Verum's ad strategy is comprised of five phases. Phase 1: Interest Testing Phase 2: Interest Scaling Phase 3: LAA Testing Phase 4: LAA Scaling Phase 5: End Game Each phase builds upon the last, providing you with information that you need to find your winning creative and audience combination in as little spend as possible. Phase 1: Interest Testing With this phase, I’m going to go over a few details about the mechanics of setting up a Facebook campaign. Don’t skip over this part, as you will need to have this knowledge for future phases! CAMPAIGN OBJECTIVES Next, you will need to set your campaign objective. One important thing to note here is that Facebook is very good at figuring out who is likely to only take a specific action; so, you will likely find that using a post-engagement optimization will only yield post engagement, and very few clicks or purchases. As such, I strongly recommend sticking to the ‘conversions’ optimization when running your campaigns. This will provide you with users that are most likely to make a purchase from your store. CAMPAIGN VS ADSET BUDGETS Lastly, you will need to specify whether you want Facebook to optimize on the campaign or ad set level. A campaign-level budget will instruct Facebook to distribute spend across the adsets within that campaign over the course of the day. This allows Facebook to allocate spend to individual adsets based on which ones it thinks will perform the best. An adset-level budget will instruct Facebook to spend a specific amount for every adset within a campaign over the course of the day. Though this might seem a little bit complicated, all you really have to know is this: Campaign budget optimization is better for higher-priced products where more data is needed to optimize Adset budget optimization is better for lower-priced products where less data is needed to optimize A general rule of thumb is to use campaign budget optimization if your product cost is greater than $15, and adset budget level optimization for products that cost less than $15. Bid Strategy We’ve tested out the various different bid strategies, and found that lowest cost has done best for us across a number of different ad accounts & stores. Adset Setup We’re now going to go ahead and set up the adset. The first step is to set the conversion event to purchase. By doing so, you increase the chances of getting high-quality traffic that is more likely to purchase. Schedule: Set the start date & time to midnight of the next day. This will ensure that Facebook optimally spends your budget throughout the day, bringing in the best results possible. Budget: You’ll now want to go ahead and set the budget for your adset, if you’re using adset budget optimization. The daily budget should equate to $2.50 x (# Of Creatives) Age/Gender: You can also specify what age range and gender you would like Facebook to target. Generally speaking, Ileave both set to their default values. Unless your product is specifically for only one gender, Irecommend you do the same. Languages: Assuming that your website and advertisements are geared for English speakers, I recommend setting this option to English (All). Placements: We recommend going with automatic placements, allowing Facebook to decide the best place to show your ads. Optimization & Delivery: We recommend leaving these as their default values. ADS CREATIVE AND COPY SETUP Once that’s set, you will need to upload your creative and create your post. If you’re just getting started, I recommend to using either a single image or a video ad. Both can work very well, though you might find that products with functionality tend to work well with a video ad that clearly shows how they work. Primary Text Generally, you’ll want to keep this relatively short and to the point — a quick description of what the product does, combined with a discount and URL to your website where the customer can purchase your product. Headline This is text that appears next to your CTA button. It is not visible in all placements, but Irecommend filling it with something simple like your product name. Description This is displayed underneath the headline, and will only appear in certain placements. Generally, Ilike to reinforce the scarcity of our offer by including something like “50% OFF – Limited Time Only”. Website URL We recommend leading people directly to your product page; this reduces the number of steps they must go through before they see your product, and ultimately before they purchase. Display Link The display link is the text that will appear in the website URL section. So, if your website URL is mysite.com/products, you could make the display link mysite.com. This will still redirect users to mysite.com/products, but they will see mysite.com on the ad. This is a useful feature if you have a very long product page URL; it makes things a little cleaner. Call To Action The call to action is a button that is shown at the bottom of your advertisement. You’ll want to set this to “Shop Now” so that people know they’re going to a page where they can potentially purchase the product in your advertisement. ANALYZE ADS – FIND WINNING CREATIVE Once two days have passed, you will want to go ahead and take a look at your results to see if any of your creatives outperformed the others. Though certain ads may do better with some audiences than others, you might find that one ad did better than another across all audiences. The easiest way to see which creative is doing the best is by using one of the tools within ads manager called ‘Creatives’. To access this tool, simply hover over the lefthand-side of ads manager until the column expands and reveals a list of options you can pick. Next, click ‘Show More Tools’, and click on ‘Creatives’. You should now see a breakdown of your creatives by whatever metrics you have selected on the dropdown. Ideally, to determine which creative is superior, you would look at the cost per purchase. However, if you have a lower budget in the $50 – $100 range, it’s more than likely that the creatives are neck-to-neck in terms of performance; there simply isn’t enough data in order to make a justifiable decision to eliminate one or the other. So, what you must do is look at the entire range of metrics from your preset, and see if for any of the ads, the various metrics are better than all of the other ads. So, let’s assume that you have two creatives: With a low number of purchases, and only one purchase difference between the two creatives, you can't make a decision based off of the purchases metric. So, you need to look at other metrics like cost per click, cost per add to cart, cost per initiate checkout and use those to make a decision. If one of the ads outperforms the other by all of the metrics (except cost per result) you can more comfortably make a decision, and go with the winner, moving on to Phase 2. However, if you find that both creatives have similar performance across all the metrics, continue to use both of the creatives in Phase 2. Phase 2: Interest Scaling The main goal of this phase is to scale your winning creative and audience from Phase 1. At this point in time, Istrongly recommend only using CBO’s at this point in time — this is because once you have a good audience and creative, you will find more consistency in performance with CBO’s as opposed to ABO’s. CBO SETUP In this step, we’re going to go ahead and create a new CBO with a daily budget of $100. The adsets in this CBO will be duplicates of profitable adsets from Phase 1. In short, I Want anywhere between 5-10 adsets total, depending on the number of different winning interests you had in Phase 1. A good rule of thumb for the number of duplicates based on the # of winning adsets is as follows: 1 winning adset: Dupe this adset five times (5 total adsets) 2 winning ad sets: Dupe each adset four times (8 total adsets) 3 winning ad sets: Dupe each adset three times (9 total adsets) The reason you want to keep 5-10 adsets total is due to the budget of the CBO; too many ad sets within the CBO can result in a small amount of spend in each, which can prevent the CBO from optimizing correctly. So, to duplicate your adsets, go back to your original campaign, and select all profitable adsets. Duplicate them as per the breakdown above. Now, if you found that there was no clear winning creative in the first phase, you can leave the ad setup as is. We will continue running both creatives for the time being. Alternatively, if you have a higher budget, you could create separate CBO’s for each creative — but Igenerally recommend just sticking to one CBO. If you found that one adset was performing better than the other, you’ll want to go ahead and make sure that all of the ads within this CBO are the winning creative. ANALYZE PERFORMANCE Before analyzing performance, you’ll want to let your CBO run for two days as in Phase 1. Once the data comes in, determine which of the following apply: If you find that your CBO was not profitable over the past two days, you should go back to Phase 1 and test new creatives. If you find that your CBO was profitable over the past two days, go ahead and try scaling the campaign with the scale rule below. SCALE RULE If a CBO performs well for 2 days, and the winning audience exceeds 20m, duplicate the winning audience into a new CBO with twice the original budget. If the CBO continues to do well, you can continue scaling by duplicating the CBO, and doubling the budget again. If a campaign spends 5x your breakeven cost per purchase while scaling, kill the campaign. Before moving on to Phase 3, continue running your ads until there is a total of $500 spent for the ad account, or approximately 2,000 75% video viewers. Phase 3 – LAA + Retarget The main goal of this phase is to create and test lookalike audiences, as well as set up a retargeting campaign. CREATING CUSTOM AUDIENCES To make your lookalike audiences, you first need to create custom audiences. Custom audiences are essentially customized groups of people that are somehow connected to your store or Facebook/Instagram pages based on a particular action they have taken. Examples include people who viewed your page, people who watched your video, and people who engaged with your post. You’re going to have to go ahead and create the following: For your retargeting sequence, you need to make the following custom audiences: Pageview Add To Cart Initiate Checkout Time Spent On Website, Top 25% 75% Video Views The timeframe for each of these custom audiences will be set to 7 days. Next, you’ll need to create your custom audiences for the lookalikes. The timeframe for these will be set to 180 days, and includes the following: Pageview Facebook Engagement 75% Video Views It will take some time for the custom audiences to populate — you will know they’re ready once the status next to the corresponding custom audience is set to ‘Ready’ on the ‘Audiences’ page. CREATING LOOKALIKE AUDIENCES Once the custom audiences are populated, you can go ahead and create your lookalikes. You will be creating the following segments: 0-1%, 0-2%, 0-3%, 0-4%, and 0-5% for each of the 180-day custom audiences you made in the previous step. When creating these lookalikes, be sure to set the location to ‘WorldWide’; this will prevent you from having to create individual lookalikes for every country you intend to run advertisements for. So, in total, you should have (3 custom audiences * 5 segments) = 15 different lookalike audiences Just like the custom audiences, the lookalikes audiences will take some time to populate, so wait until the status is set to ‘Ready’. CREATING YOUR RETARGETING CAMPAIGN The retargeting campaign will be a $50 CBO, with 7 adsets inside it (one adset per custom audience created earlier). You will also want to create a new piece of creative for your warm traffic; generally, Ilike to use photo ads with a strong call to action. The copy should also reflect the fact that they are familiar with your product and brand; you don’t need to reintroduce them, but rather remind them that your store exists. ADJUSTING YOUR RETARGETING BUDGET If you find yourself consistently scaling up your cold-audience campaigns, you will want to go ahead and adjust your retargeting budget accordingly. Try and keep your retargeting budget to 5-10% of your total daily budget for your other campaigns. If you find that raising your total daily budget for your retargeting campaigns causes a noticeable decrease in performance, you can always modify the CBO and lower the daily budget as needed. Note: Usually, lower-cost products will require smaller retargeting budgets than higher-cost products. CREATING YOUR LOOKALIKE CAMPAIGN For your lookalike campaign, the daily budget should be $100, and contain 5 adsets targeting one lookalike. Each adset will have 2 of your winning ad within it. Start with the lookalike for which you have the most data, and then move on to others every day or two. If you find a profitable lookalike campaign that delivers consistent results for two days, go ahead and move on to phase 4. Otherwise, stay in this phase and keep collecting data. Phase 4: Scale LAA The goal of this phase is to scale your lookalike audiences as per the scale rule: If a lookalike CBO performs well for 2 days, and the winning audience exceeds 20m, duplicate the winning lookalike into a new CBO with twice the original budget. If the lookalike CBO continues to do well, you can continue scaling by duplicating the CBO and doubling the budget again. If a campaign spends 5x your breakeven cost per purchase while scaling, kill the campaign. Continue to scale your lookalikes with the rules above until you have spent at least $5,000 total on your ad account. At that point, you can move on. to Phase 5. Phase 5: End Game If you’ve made it this far, you’re just about scale sky high! At this stage, Facebook has collected a significant amount of data and no longer requires any guidance with regards to targeting; all you have to specify is budget, location, and creative. Everything else is left on autopilot! WHY BROAD TARGETING IS THE BEST FOR SCALING Broad targeting is hands down the superior way to scale for a few reasons: Leverages all the data you’ve collected Requires Little work to maintain Lasts a long time Scaling isn’t limited by audience size Optimizes much more quickly Results are consistent THE SETUP To get started, you should create a CBO with a $500 budget. Within this CBO, you’ll want to place three adsets, with the following locations set: (1) USA (1) Canada + UK + Australia + NZ (1) Worldwide ANALYSIS & SCALING FURTHER After two days, evaluate the campaign in accordance to the scale rule used before in previous phases. If you find that your CBO is not performing well, return to Phase 4 and periodically come back to Phase 5 after larger amounts of spend (perhaps in intervals of $2,000 – $5,000). Final Thoughts That’s about it! This is the system that we’ve started using late Q4/early Q1 and seen some fantastic results across a number of different stores.
  3. $500K Selling A Posture Brace With Facebook ™ Ads [Drop-shipping Case Study] This is a case study on a recent store of mine that focused on selling a posture brace. This will focus on the ads strategy side. I'll post another with the product research side for those who are interested. Our numbers: $528,000 in sales after accounting for returns $300,000 in ad spend between the two ad accounts $79,000 in COGS This left us with roughly $149,000 in profit or 28% profit margins. Not bad for two months on one product. 5 PHASE ADS STRATEGY This strategy is broken down into 5 easy phases that will work great for anyone trying to run a 1-product store. As a bonus, I’ll also be going over how to get around Facebook disabling ad accounts because that’s what happened multiple times while running this store. But before we get started with Phase 1, let’s go over the creatives or video ads we used. What we did with this ad was first come up with the basic format. Starting from a spin around, going into an animation, and finally ending with the benefits & features. Along with the standard sequence, we came up with a caption that we pretty much used for all of our tests. The ad focused on convincing people that the brace is effective for good posture, it doesn’t waste time telling them why good posture is important because people who need a posture brace already know the importance of good posture. Once we had our standard sequence, we came up with a few different intros and used them to start the sequence. To find the clips for this ad, we took videos from Aliexpress listings and also used a few clips from dropshipping videos. It’s pretty easy to find old dropshipping ads on youtube if you search for your product. You should be careful taking videos from people though, and use common sense to avoid getting in trouble. Don’t take videos from popular youtube videos and make sure to come up with your own content once you know something is working. Another great option we use for original video content is Fiverr. Not only can you get people to demonstrate your product, but you can also get 3D animations done for pretty cheap. If you’re looking for models, look up “product video” or “product model”, and if you’re looking for product animations look up “3D product animation”. Now, before you start Phase 1, make sure you have 1 basic video sequence with three different intros. When you’re picking out your intro, make sure it’s something eye catchy that will stop someone from scrolling. If you need inspiration, just look at the ads on your newsfeed and pay attention to what gets the most views. PHASE 1 - TESTING PROCESS ROUND 1 The campaign and adset structure for this phase and all of the phases that follow are very similar. Refer back to this point in the video when you’re setting up ads for each phase and use these settings. All of the phases use campaigns with buying type set to auction and objective set to conversions. We turn campaign budget optimization on and set bid strategy to lowest cost. The daily budget depends on the phase that you’re in. For adsets, we optimize for purchase, and set new adsets to start the next day. For location, we target our special ePacket list which can be found in the facebook group. We let facebook decide the age and gender for the most part, but we will sometimes end up narrowing that down if we see performance for certain demographics underperforming. When we’re starting ads though, we almost always just let facebook decide. Even if we’re selling a men’s product, we’ve noticed that Facebook can still find female buyers for us - especially as campaigns optimize. Language should always be set to English(all) unless you’re running ads in a foreign language. For detailed targeting, or interest targeting as we like to call it, we make sure to exclude dropshipping as an interest. This is going to help hide your product and store from other dropshippers looking to sell the same product. The interests we include change for each phase, and we don’t include any interests when we’re targeting Custom or Lookalike audiences. We leave placements on auto, optimization on conversions, and conversion window on 7 day view 1 day click. Using those settings in Phase 1, we set a daily campaign budget of $200. If that’s too expensive, you can use a smaller budget than we did, but in that case, just test less adsets. We test 10 adsets with our $200 budget, so if you have a $100 budget, you should test 5 adsets. For our 10 adsets in this campaign, we targeted interests related to posture. The interests I used included Vertebral column, shoulder, neck, spinal cord, poor posture, cervical vertebrae, lumbar vertebrae, aging, massage, and old age. Note: You shouldn’t think too hard about what to target, just pick something broad with at least a few million people that you think might work. Then use the suggestions feature to find more interests once you have a few in mind that you want to target. For our initial tests, I started with poor posture which is an obvious fit for the product, and then used suggestions to find the rest. When you’re going through these suggestions, make sure the majority of your audiences have at least 5m people. Some of my interests actually have over a hundred million. The benefit of starting with broad interests is that they’ll give you much cheaper impressions and allow you to scale anything that’s profitable without worry about burning out your audience. For each adset, we also set a minimum spend of $10 for each adset using our rule of distributing half the CBO budget evenly amongst the adsets. Then we tested 2 different ads for each adset, but we actually recommend you to test 3 ads when you’re trying this. Since running this store, we’ve noticed that three has been performing equally as well while allowing you to test more creatives with the same budget. If a campaign wasn’t profitable as a whole we’d normally kill it after 2 days. When you’re analyzing your campaign after two days, you’re looking for any adsets that are profitable. If your adsets haven’t even spent your target cost per purchase yet though, you should be looking for metrics like cost per add to cart that indicate it will be profitable later down the line. As far as your different video ads go, you want to look for the video ad with the best performance on Average Video Watch Time and Cost Per Link Click. If you run this campaign for two days and find that none of your adsets are even close to being profitable, then I would scrap all of your creatives and start again from there. If all of your adsets are performing equally bad, it’s a good indicator that your creative is just not good enough. If you test new creatives and they do bad again, it could be your product as well. The last hope in this case, would be to skip to phase 3 once you have enough data, but you could also save your money and start over again on a new product. Anyways, once you have an adset and ad that you think are working, move onto phase 2. Don’t forget to kill your Phase 1 campaign if it’s not profitable as a whole. PHASE 2 - TESTING PROCESS ROUND 2 In phase 2, we took the best performing interests and creatives to make another $200 CBO. Since we had two winning interests, we duplicated each one five times to get a total of 10 adsets. We continued to set a minimum spend of $10 according to the rule from earlier. Depending on the number of adsets you’re taking from Phase 1, you should duplicate each of them enough times to have roughly the same total number of adsets as Phase 1. For example, if you found three winning adsets in Phase 1, you should duplicate them 3 times each for a total of 9 adsets in phase 2. It’s not exactly 10, but the goal here is to just get close. You should also duplicate your winning video creative 3 times for each adset. The idea behind this has to do with Facebook Artificial Intelligence and the differences in starting optimization for each adset, but that’s a topic for another video. When we ran this campaign, our results were disappointing to say the least. In fact, it did worse than the original campaign, but that’s just how Facebook is sometimes. Luckily, the point of Phase 2 is just to gather enough data to move onto LookAlike Audiences in Phase 3. Of course, it would be nice to make money at this point, but even if you don’t, you can just move right on to phase 3 as soon as there’s enough data. That’s exactly what we did here - just waited until we could move onto phase 3. We recommend you wait until there’s at least 50,000 views, until you move onto phase 3. Having enough data is important for making a reliable look alike audience. The general rule you want to follow in these first two phases is to collect as much data as you can while losing the least amount of money possible. Of course you can be profitable in these first two phases as well, but it’s also okay if you’re losing a bit of money. Look Alikes will perform much better anyways so you don’t want to linger on these first two phases trying to make money through interest targeting. PHASE 3 - TESTING LOOKALIKES & RETARGETING Phase 3 is when we start testing look alike audiences and also start a retargeting campaign. The first lookalike audience to test is 75% video viewers. You want to make 10 audiences for each percentile inclusive from 0%. That would be 0-1%, 0-2%, 0-3% and so on. You also want to make sure you’re selecting worldwide when you’re making those lookalikes. While you’re making those lookalikes, make custom audiences to use for your retargeting campaign. Make audiences from the last 7 days for Page View, Top 25% time on site, FB engagement, 75% Video View, Add to Cart, and Initiate Checkout. Setup a new CBO campaign with a daily budget of $50 to start, and use the custom audience to make 7 adsets - one for each custom audience. As far as ads go for retargeting, you should make some new ads. We like to use photo ads like this that have a really strong call to action like sale ends today. After two days, you should start adjusting the retarget budget as needed. If it’s super super profitable, you can try to squeeze more out of it by increasing the budget. If it’s not doing so hot, you should lower the budget. Try to find a good ratio between your retargeting budget and the budget for your other campaigns. Use that ratio to scale your retargeting campaign as you scale up your other budgets. Also keep in mind that cheaper products will need less retargeting, while more expensive products may benefit from heavier retargeting. If your product is really expensive, you might even want to expand the time frame included in your custom audience. After setting up the retarget, we setup a campaign with 10 adsets. Each adset was targeting one of the 10 look alikes we created before, and they all had 3 duplicates of our video. Unfortunately, the lookalike did not perform as well as we hoped. Instead of giving up, we tested a few more videos until eventually we landed on our winner. If we weren’t so lazy, we would have tested more videos from the beginning instead of just hoping that the lookalikes would perform. If you’re testing 75% Video Views and it doesn’t work well you can try testing other look alikes such as 95% Video View or Page View. You will need more data for these Look alikes though. Eventually you should find a few good look alike audiences that are working well. At that point you’re ready for phase 4. PHASE 4 - SCALING LOOKALIKES In phase 4 we try to scale the look alikes that are working well. This is when your results should start becoming a little more consistent. So soon as we noticed that our 1% Look alike for 75% video view was performing well, we made a new CBO campaign with a $200 budget and duped the adset 5 times. After a 2 days it was working super well, so we started doubling the budget every two days until it eventually reached $1500. When you get a campaign with this kind of budget, results really start to even out as your campaign optimizes. If you find that you’re not able to scale a campaign without performance tanking, you should try duping the campaign a few times instead. You can even dupe a campaign like 10 times if it’s working really well, but it doesn’t respond well to scaling the original budget. We stopped scaling this campaign at $1500 though and just let it run as we moved onto our favorite phase. You should also move on from this phase once you’ve spent $5000. You can leave your profitable campaigns on from this phase while you test out the last phase. PHASE 5 - "ENDGAME" SCALING In our fifth and final phase, we’re looking to scale sky high with broad targeting. This is what I like to call the “end game. “ Broad targeting is where you let Facebook decide basically everything besides the CBO’s budget and the ad’s creatives. As far as targeting goes, everything is left on auto pilot. I don’t give Facebook any audience whatsoever - no custom audience, no look alike, and no interests besides excluding dropshipping. For this type of campaign, I split it up into three adsets. 1 adset targeting the USA, 1 adset targeting Canada+UK+Australia+New Zealand, and 1 adset targeting worldwide with a few third world countries removed. I set a budget of $500 and just let Facebook do it’s thing. At this point, the only thing you have to do is adjust the budget. After two days, I’ll make one of two decisions. I’ll either double the budget because it’s profitable, or I’ll kill it and go back to phase 4 to collect some more data before trying again. If it’s kind of in the middle, i’ll just let it coast another day or two until the decision is clear. The reason why broad targeting is superior to all other forms of scaling is because: It requires hardly any work to maintain. You don’t have to constantly go out there find more working interests. The size is basically the entire world. It’s super easy to scale because audience size is massive, meaning that you can literally scale as high as you want. You don’t have to refresh creatives because the audience size is so big. Eventually we did hit about 50M reach on one creative and had to refresh it, but up until that point everything was pretty smooth. It optimizes over time to become better and better without you having to do anything. Meaning that once it’s optimized at a certain budget you can just crank it up, let it optimize at the next budget, and then rinse and repeat the process until you hit a point where your cash flow just simply doesn’t allow it. Luckily in the case of Mr-Posture, the broad target worked super well. I ended up scaling it to $10,000 a day and letting it coast. It ended up spending $150,000 before Facebook decided to start giving us problems. While we were coasting in Phase 5 letting the money flow in, of course we ran into some Facebook trouble. This was during a period when Facebook was randomly flagging accounts like crazy. This is still happening to some extent, but during the summer when we were running this, it was like an everyday thing. Even before we got disabled for good, we were getting disabled like every day and having to submit appeals. When we got disabled for the last time, we got around it with a new ad account under a new business manager. If you ever find yourself in a similar situation, you should simply make a new business manager and ad account. Most of the time, you’ll be able to use your original page and website without issue. Using our new ad account, we started right away with broad targeting using the original pixel. Since Facebook let’s you share pixels across business managers, it’s really easy to use your old data. We just set the budget on day 1 and let it run until this ad account was disabled too. It was probably the easiest money we’ve ever made considering we just let it run on autopilot from the start. Again these were our numbers: $528,000 in sales after accounting for returns $300,000 in ad spend between the two ad accounts $79,0000 in COGS This left us with roughly $149,000 in profit or 28% profit margins. Not bad for two months on one product. If we were going to do this again though, we probably could have done better. This is what we would have done differently. After seeing the broad campaign do so well, we should have asked Facebook to increase our spend limit on the new account We could have made another ad account after the second one was disabled We could have incorporated some other products into the store that are related to posture correction We also tested a bunch of random ad strategies like manual bidding that ended up lowering our profit in the end Overall though, we were happy with the final performance of the store. I learned a ton about how saturation works in drop shipping, and it gave me the confidence to pursue other products with even more competitors and a longer history of being sold. If you have any questions , drop them below.
  4. How to Find Scalable, Winning Products On Aliexpress: If you're trying to get into drop shipping, you're much more likely to make money by copying what's already working. You don't need to reinvent the wheel to help you make your first successful store. My strategy involves finding hot products and essentially copying what is already working. STEP #1: Find Potential Products The first step is finding several potential products. To do this, just scroll through your Facebook newsfeed looking for dropshipping ads with lots of engagement, find whatever you can and we'll narrow it down later. For now, you just want a list of potential products that people are already advertising. It might seem like a bad idea since that means you'll have lots of competitors before you even begin, but the truth is that competition is actually a really good sign. It shows that the product is selling and that means you should be able to sell it too. Before you start scrolling through your newsfeed looking for products that are selling, you’ll want to go to facebook.com/ads/preferences. Here, you'll find a list of items that Facebook thinks you're interested in. If you see dropshipping and AliExpress as an interest, make sure you remove them before scrolling through your newsfeed looking for ads. Since a lot of dropshippers want to hide their ads from other dropshippers, they'll exclude dropshipping and Aliexpress in their ads targeting. So, if you skip this step, you'll miss out on a lot of potential products that you can copy. I didn't have AliExpress listed as an interest because we've been using a private supplier for a while now, but it should be listed under business and industry. If you have it, just make sure to click on ‘see more’ until you get the full list of interests under this category. Once you have those interests removed, go to the Chrome web store and get the Turbo ad Finder extension. I know a lot of you guys have said that it's no longer working, but if you get it from the Chrome web store rather than from their website, it should work fine. (Let me know if it doesn't because there is an alternative, but it doesn't work as well.) Now, go to the Facebook newsfeed and turn on turbo ad finder. Enabling this extension should remove any content from your newsfeed that isn't an advertisement. This is going to save you a lot of time when you're looking for drop shipping ads as you're scrolling. Look for any products that you can source from AliExpress. There are alternative sources for dropshipping products, but in terms of selection and price it's hard to beat Ali, especially when you're just starting out. AliExpress is not known for the best quality, and a lot of vendors are actually pretty bad in terms of shipping things on time. But, you can definitely find some quality products to dropship on there. That's how I got started, and I think it's the best place for you to get started too. So, as you’re going through the newsfeed, here are some tips for identifying AliExpress products: Tip #1 - See if the name of the Facebook page makes sense. If the page is called “Little Tiger” but sells folding stools, it's probably a drop shipping store. Tip #2 - Check the website. Most dropshipping stores are easily identified by bad product images, sales timers, and “big savings” placed everywhere. Tip #3 - Check the product images to see if the store logo is printed on the product. If it isn't, it is most likely it's a drop shipping store, and you'll easily find the same product on AliExpress. Now that you can identify dropshipping ads, compile a list of all the ads you find by using the “save video” function on Facebook. While you're doing this, Facebook might stop feeding you ads after you scroll fully awhile. If that happens, you should just refresh the page to get a new set of ads. Now once you have your list of at least five different dropshipping ads, you're ready for the next step, which will be going through our list and narrowing it down to the best products. (And just in case you think that these products can't be sourced from Aliexpress, I found listings for each product). These are the products I found (see images at the bottom of this post for examples) Baby Diaper Bag Folding Stool Custom Dog Harness Mini Projector Hexagon Tiles Smart Fitness Watch. HOW TO DETERMINE IF A PRODUCT IS LIKELY TO BE SCALABLE (i.e. A Good Choice) #1: Check the # Of Ad Views Once you have a list of ads like the ones we found, the first thing you should do is check the number of views on the ad. ‘All views’ isn’t the most accurate measurement for telling if a product is selling well. However, if an ad has over a million views it's probably selling at least somewhat well. The reason it's not too accurate is because worldwide views are dirt cheap, especially when you're running a PPE campaign, but a million views is a good indicator that they're running more than just PPE campaigns. From our list of ads, the custom dog harness and the smart fitness watch were the only ones that had over a million views. We won't exclude the other products from our list yet. We'll just note that these two products might be doing the best. #2 : Look at The Facebook Page Running The Advertisement If the page has over a thousand likes AND has been running for more than three months, then it's probably doing pretty well. Since people can buy fake likes for their Facebook page, you shouldn't use this as an absolute indicator that the store is doing well either. But, in our experience, most people including ourselves don't buy fake “likes” for our store pages. Either way, you should use the number of page likes as a way to weed out products for six examples. The baby diaper bag has close to 4,000 likes and has been running for about a year, plus the engagement on some other page posts. This suggests that the page likes are legit. We'll keep this one on the list. The folding stool page only has 700 hundred likes but has been running for close to half a year. That's close enough. We'll keep it on the list for now as well. The light up Hexagon Tiles only has a few likes and they are just sort of running the page, which makes me skeptical about the product. I'm probably going to take it off the list, but just to make sure, I'll take a quick look on AliExpress and see how it's doing. The hottest listing only has a few hundred orders, which is not good. You want products that have multiple listings with over 8,000 orders. On these Hexagon tiles, the pricing was also way too high at $25 for four pieces, meaning I would have to sell them for at least $50 and even then margins will be raised, and the product will be overpriced. In my opinion, light-up hexagon tiles are looking like the best option, so I'll cross it off the list. The smart fitness watch page has over 5,000 likes and has been running for a year and a half. These metrics look really good, and their marketing angle is really interesting. They're selling it as a product for veterans and veteran supporters. I'll keep this one on the list for sure. The mini-projector has 1200 likes and has been running for a month and a half. They also seem to have German and French versions of their store, which is really interesting since they probably wouldn't expand it to these markets until their English markets were doing well. I'm thinking this is a pretty viral product, so I'll keep it on the list. Lastly, the custom dog harness page has been running for over eight years, with over 7,000 page likes. I'll definitely keep an eye out for this one as well. So far the only product that we have crossed off the list is the light-up hexagon tiles You don't want to be too picky about your options at this point, because you'll want multiple choices for the final selection process. #3 - Look at the other ads that the pages are running for each of your products. Go to the Facebook page, click ‘see more’ under ‘transparency’. Click on “See More”, and then go to the ads library for the page. You should look for a few different things here: How long they've been running the same creative? How many different listings they have for the same product? How hard they are scaling? Unfortunately, you'll only be able to get reliable information on this when an ad features a Bitly link. I'll show you how to do so shortly. ITEM #1 - Diaper Bag They've been running the same ads since September, and they also have a few different variations of the creative. These are both really good signs, since they wouldn't keep running their ads if they were losing money. Plus, the fact that they released all these videos on the same day and kept them running means that the product is great at selling itself. If the product wasn't great at selling itself, they would have only been able to get one or two of these creatives to work, rather than all of them. This is looking like a potential winner. ITEM #2 - Folding Stool Looking at the page for the folding stool, it looks like they're testing three different thumbnails, but don't have multiple different videos running. The only other ad they're running is a children's toy. The fact that they're testing multiple items, combined with the fact that they just started running these ads makes me think that they're still in the testing phase. Also, notice that there are Bitly Links. Whenever you see a Bitly link, copy and paste the link into your browser with a “+” sign at the end to check for traffic. It will show you the number of link clicks over time, and we found that they weren’t really pushing big numbers. I'll also take a look at their website to see why they can't scale, since I think that both the product and ad actually aren't too bad. Just looking at their pricing, it's pretty obvious where they aren't selling. 50 bucks is way too expensive for this stool... We'll go ahead and cross the stool off the list. ITEM #3 - Smart Fitness Watch We see that they're testing three new products. They've been running the fitness watch for over a month, and have several different ads running for it, with multiple ads running for other item(s) as well. It looks like they're doing really well and are just looking to find more products to sell. This product is definitely looking really promising. ITEM #4 - Mini Projector It looks like they've ran their active ads for less than a week. They have one ad for cold traffic, and another for retargeting. This doesn't look too good, but we'll keep it on the list for now. This product is actually doing really well. Plus running a retargeting campaign. It's really only effective once you've scaled to at least a few hundred dollars per day in ad spend. Like I said, you want to keep your options open for the funnel phase of selection. ITEM #5 - Custom Dog Harness They have ads that have been running since April. They also have tons of different variations for their creative they haven't had with the vertical format building. They must've been scaling pretty high to include the creative specifically for Instagram story ads. Without a doubt, the dog harness is selling really well. After looking at the Facebook Ad Library, we have four products left on the list: Diaper bag Fitness watch Mini projector Dog harness #4: Check Aliexpress Orders They're definitely all selling, but now we're looking for the best option to narrow it down to one product. You should go to AliExpress, look up each of your products and sort by orders here. We'll try to weigh a few different factors to pick out the best product to sell. You should be looking at the following things: a. Margin b. Number of orders c. Media Content d. Product Quality Each of these are important to consider, though if we had to narrow it down to one, the margins would be the most important, due to their influence when it comes to scaling. a. MARGINS Since your advertising cost per purchase will increase as you scale budgets, operating on razor-thin margins won't give you much room to grow, assuming that you can even get low-margin products to be profitable. I like to look for products that I can sell for at least a 300% markup, with the margin dollar amount being at least $25. b. NUMBER (#) OF ORDERS The number of orders on a product shows that it sells well online, and that it probably can't be found too easily on stores. Personally, I like to sell items that have at least a few thousand orders already, because that means the product has been tested before. Plus, reviews mean a lot more when a listing has a few thousand orders. Since it's hard to inflate ratings with so many real customers, you should know that having multiple listings with thousands of orders is also a really good sign; suppliers on AliExpress tend to hop on products that sell well. c. MEDIA CONTENT The amount of copyright-free media content is important when it comes to making your website and advertisements. While you can get away with using YouTube videos and other copyrighted media for some time, I would highly recommend looking for items that have media content ready to use. Having a lot of content readily available from Chinese suppliers is also a good sign that the product is selling well. Suppliers taking the time to taking photos or videos is unlikely, unless the product is doing really well. d. PRODUCT QUALITY Sure, you can make a quick buck selling subpar items -- but you'll never be able to have a sustainable store. Since Facebook is rolling out surveys to buyers quickly these days, they also know when customers are upset with the products they receive. You'll also have to deal with way more customer-service requests. Not only that, but large amounts of chargebacks due to low customer satisfaction often results in large holds from Shopify and your payment processors. This can mean that you will never be able to try drop shipping again. You should use these factors to get an overall picture for each product and then try to compare them. There is no absolute formula for this. You just want to go with what feels like the best option. So, let's take a look at each of the four products we have left. DIAPER BAG - FINAL ANALYSIS Let’s start with a diaper bag. I see that they're selling for $17, and I think I can definitely sell them for at least $50 which will leave me with about $33 to spend on ads. These aren’t the best margins, but they’re definitely doable. The number of orders on the top listing is over 11,000, so this has definitely been selling super-well, and there's also several other listings with over a thousand orders. In terms of media content available for the bag, I see that the biggest listing has some really great product images that I can use for my store, so I’ll go with this one. There's also a ton of other listings with similar bags that I can take photos and videos from. This would be great for making some high quality ads without creating my own videos, and without running the risk of taking copyrighted media. Plus, these bags must be selling really well for so many suppliers to be creating their own content. Looking at the reviews for this bag, it looks like they’re really good quality, with 4.9 stars and the supplier being considered a top-brand. The shipping times are probably fast and reliable for Aliexpress standards. I definitely don't see myself running into any problems with people being dissatisfied with the product. Overall, the bag looks like a good candidate with lots of sales, tons of media content, and great reviews. The only part that's not that great is the profit margin, but it’s within an acceptable range. SMART WATCH - FINAL ANALYSIS Looking at the listings for this product, it appears that these watches are only $9 at most. This means the margins could be upwards of 500% at a minimum, or about $36 conservatively, making it great for scaling! There are a good amount of orders on these listings, but not as many as the bag. This surprises me, since I know that these watches are probably selling way more units, and has me a little skeptical about the quality of the product You should know that with low-quality products (especially electronics) suppliers will remove listings after the reviews drop too low, and will then reopen the same listing, picking out the first hundred or so reviews. Then, they’ll rinse and repeat this. As far as media content goes, it looks like there are plenty of listings with a wide variety of photos and videos available. Just like the bag, this would be great for my website and ads. Now, back to the quality of the watches (which has me concerned) — the reviews range from 4.3 to 4.7, but that's not too great considering how many orders are on each of the listings. I have a strong suspicion that these reviews are fake. Plus, I'm careful about selling electronics, because I know that they're usually not the best quality within this price range. Considering these watches are meant to be waterproof, with claims of a variety of sensors for heartbeat and blood pressure, I'm going to say that these will probably get me in trouble later down the line, especially if I'm trying to sell them at the margins I was predicting. I'm going to cross the Smart Watches off the list, since I don't want to run into any Facebook or Shopify troubles with this store, and any other stores associated with my name. MINI PROJECTOR - FINAL ANALYSIS Next up is the mini projector. Before we go over all the details, it looks like there's only one listing with good-enough margins, and the reviews for it are not that great. I'm also very skeptical about the quality of this product since it looks like all the other listings are at least three times the cost, plus the one potential listing doesn't have too much media content that I can use. I would probably have to make my own video, or run the risk of using bits and pieces of the ad from earlier, which I would prefer not to do. I'm going to go ahead and cross this one off the list. CUSTOM DOG HARNESS - FINAL ANALYSIS Last up is the custom dog harness. The harness would have to have really good margins if we sold them for $50, which I think is super reasonable. At that price point, I would have $40 for ads, which I think is plenty for a custom product like this. The number of orders on this product isn’t the best, but there are multiple listings with a couple thousand orders, so this doesn't concern me. In terms of media content, there really isn't much for this product. There are a few photos, but nothing that really showcases a dog wearing the harness. Looking at the store advertising the harness, it looks like they have a lot of original photos and videos that were both used in advertisements, and in their store. If I were to sell this, I definitely have to come up with my own photos and videos to use. The quality looks on point, with a 4.8 on almost all the listings for this product, with all the photo reviews. I'm not really concerned about fake reviews for this one, and unlike electronics, I don't think a harness will break too easily. FINAL SELECTION: In the end, it comes down to a baby-diaper bag that has great video content with acceptable Margins, OR a dog harness with virtually no media content, and slightly higher margins. Both the products look like their quality is on point. If you are in this situation, you could pick either one and I think it will be a great choice as long as you knew that the dog harness will require a little more work with having to take some photos and videos.
  5. When we first started scaling up, it was super draining to do all of the campaign setups ourselves. It took valuable mental energy away from the higher-level work like ad strategy and management. It became crucial to hire a dedicated campaign team. We were initially skeptical about trusting VAs with large large amounts of ad spend, so we created a system of back-checks to ensure campaign accuracy before launching new ad sets. Below is our process for hiring, training, and maintaining a team who set up 2400+ ads per week. This is our current system: Most days - Our team receives the campaigns to set up in Asana. We keep a separate Asana “Project” folder for each Ad/Creative. Each of these folders contains the post ID and audiences to set up as separate tasks. We decide which campaigns we want to set up that day, then “assign” the creative/audience combination to the appropriate team member. The assigned team member sets up the campaigns, switches the ad sets to “inactive”, then publishes. If it’s a new ad/creative, our team member will create a new campaign from scratch. If it’s an existing ad/creative, then they will just duplicate an old campaign with the same creative, and change the audience. Our marketing manager checks the inactive campaigns for accuracy, then switches them to “Active.” ( We initially did this ourselves before delegating to a manager. ) Setting up this automated system allows us to set up over 300 ads per day with minimal effort. The key to getting this system down is in the hiring and training process. This is our usual hiring process: 1. Create and post a job on Upwork The job descriptions are simple and straightforward. The role itself is not that specialized so no need to go overboard with this. We create the post and set it for entry-level freelancers (our starting rate is $4-$5 USD/hour). B. Vet candidates - these are are some interview questions we ask: - Can you tell us a bit about why you don’t currently work at your last job and why you stepped away from that job? - What are the three most important attributes or skills that you believe you would bring to our company if we hired you? - At times your workload may feel unmanageable. Describe a time when you recognized that you were unable to meet multiple deadlines. What did you do about it? - Give two examples of what you did in previous jobs that demonstrate your willingness to work hard Basically we’re just looking for someone who fully answers the questions in a way that is thoughtful and seems like a good culture fit. C. Once we’ve found a potential new team member, the training process begins: We have a complete database of task-specific training videos, and send them all training videos required to the role. These videos cover topics like: How to Set up Interest Campaigns How to Setup LLA campaigns How to Update the Ad Spend to Revenue Log Etc These are pretty straightforward and don’t need to have great productive quality as long as they get the job done. You can create training videos in Quicktime Player using the screen record + audio function. After our new team member has watched the video, we do screen share campaign setups together. If they do everything correctly, then they receive test campaigns to set up. The initial training is also used to determine whether or not the new hire is a good fit for the role. If they aren’t, no worries. Just move onto the next candidate and repeat. Once trained, we have our VAs set up Facebook campaigns as inactive. We then check all campaigns, and then turn them. Once the team member has a strong track record, we delegate certain management tasks if they’re up to it. One of our entry level team members did a stellar job, so we promoted her to manager - she now handles training and the more “sensitive” tasks like data storage and publishing active campaigns. ESTABLISHING A CULTURE - HOW TO MOTIVATE YOUR TEAM I used to believe that people should work because they’re inspired and passionate about their role. I think this is still true, but it’s not really a useful mindset for entry-level rote data work. Most of our team members do it to have a steady job, so it’s important to give them other incentives to grow with your company long term. These are some of the ways we keep our team cohesive and motivated: We let them know that there is upward mobility within the company. One of our original campaign set up VAs has been promoted to a manager and now oversees other team members with increased pay. We also provide yearly bonuses and bonuses based on time spent at the company. This is to reward long-term commitment. Sometimes we pay bonuses based on performance, mainly to let our team know that we appreciate those who go above and beyond in their role. **Note: don’t go overboard with giving performance-based bonuses. You don’t want your team to expect monetary rewards when do good work. Anyway - that’s the gist of it. Establish a great team and company culture for long term scaling and sustainability.
  6. When we first started advertising on Facebook, we didn’t have “extra funds” to mess around with. Retargeting ads seemed like the most efficient option - they generate high ROAS and tend to be the most “evergreen” campaign type. In this case the retargeting campaigns for the eCommerce store generated $397K in revenue. This is the retargeting strategy we use: STORE + CAMPAIGN STRUCTURE: Store Platform: Shopify Pixel Integration: Perfect Pixel (No longer recommended - just use Shopify's built-in integration. Objective: Conversions Ad Set Audience Settings: Based on our customer data Daily Budget: $5/day (Increases after campaign receives 2 sales within x days) **Note: New products and creatives were initially tested using Instagram influencers before moving to Facebook. We’ve found influencers to be an low-cost way to collect Pixel data with high buying-intent (the intent is high because traffic needed to go through multiple steps/clicks to get to our site) RETARGETING STRATEGY The overall objective of our retargeting strategy is to get as wide a retarget as possible, as efficiently as possible. We use DPA carousel ads because they provide potential customers with more options, and require the least amount of Pixel data to make consistent sales. Start with broader custom audiences like as ATC no Purchase, View or ATC no Purchase, and Time Spent 10%. After a particular item has sold over 150 units in a month and has more pixel data, then we’ll run campaigns for Pixel Visit Item (based on URL), frequency (visited the site 3 or more times, etc), and other narrower audiences. These are the initial retargeting campaigns to set up: ATC no Purchase - 14 Days ATC no Purchase - 28 Days (Exclude 14 Days) View or ATC no Purchase - 14 Days View or ATC no Purchase - 28 Days (Exclude 14 Days) Time Spent 10% - 14 Days Time Spent 10% - 28 Days (Exclude 14 Days) Email Subscribers - 14 Days (If your email list is large enough) Email Subscribers - 28 Days (Exclude 14 days) View or ATC no Purchase - 14 Days View or ATC no Purchase - 28 Days ** 2 Ad sets per each campaign ^ one for Facebook Newsfeed ONLY and another for Instagram Feed ONLY at $5/day. After hitting $50K/mo, we could afford to be more creative with the retargeting. These are other custom audiences that were consistently profitable for our store: IG Post Engagement Time Spent 5% Pixel Visit Item - Single Product Retarget Facebook Page Likes - NF Facebook Post Engagement Test each of these on 14 days, 28 days, and 45 days (exclude other time frame), and on Facebook Newsfeed, Instagram Feed, and Audience Network + Facebook Newsfeed (combined) **All time frames greater than 14 days exclude other time frames. I.e. Time Spent 5% - 28 Days excludes Time Spent 5% - 14 Days --- This retargeting strategy fairly straightforward with the purpose of being conservative at first, then scaling once there’s enough data to use. Our retargeting audiences have generated $397K in revenue on 4.13 ROAS, at the time I originally created this case study.
  7. Tracking the flow of money into and out of your business is crucial for making informed decisions with your media buying, pricing strategy, and overall direction of your business. This is where a P&L statement comes in handy. By tracking all of your expenses, overhead, revenue, profit, and any payments/income from your business, you’ll be able to accurately make good decisions. As they say - what gets measured gets managed. If you plan to sell your store, the new owner will likely request profit and loss (P&L) sheet containing all of your expenses, revenue and profit. These are what you can include in your P&L Statement (this is just an example - track ALL expenses you can think of related to your business - the more detailed and thorough, the better): Total Orders Total Sales Cost of Goods (COGS_ Gross Margin Gross Profit - Actual ---Additional Products--- Gift Cards Redeemed Amount Sample Products Cost Ambassador Products Cost IG Influencer Products Cost Order Errors Total Extra Product Cost Supplier Refunds Recievedd Admitad Payout ---Ad Spend---- Facebook Ad Spend IG Promos/Shoutouts Google Ads Total Ad Spend: ----FEES--- PayPal Fee Stripe Fee Bank Fee Total Processing Fees ----Operating Cost---- Hosting Shopify + Apps fees Zendesk Human Resources (VA Hires, graphic designer, etc) Total Operating Cost Profit Less Operating Cost: Net Profit: Once again - this list is not exhaustive and you’ll likely have some different additional expenses that what is listed. Part of this list was taken from another E-commerce YouTube channel - I don't remember the name off hand. If you have any other recommendations for P&L inclusions - drop them in this thread 🙂
  8. If you're not a creative person, it can be difficult to think of a good, descriptive and catchy name for your store. Here's the process we use to name our stores: Create a spreadsheet with two columns - in the left column is the adjective/descriptor, and the right column is the product/product solution. In the first column, create a list of adjectives/descriptors that could be related to the product - adjectives are anything that could describe the product, niche, solution the product provides, etc. Example 1 - a descriptor for a brace might be: "Posture" "align" "straight" "Osteo" etc. Example 2 - a descriptor for a moon lamp might be: "lunar" "celestial" "galactic" etc. In the second column - create a list of subjects that are related to the product you are selling. Example 1: If you are selling a brace for posture - you could just use "brace" or "support" as the product/subject Example 2: for the moon lamp example, you could use "lamp" "Light" "orb" " "beacon" etc. I'd probably use "lamp" or "light." After you’ve generated both lists, mix and match the left and right columns until you find a name that sounds good. In practice it would look like this: Example 1: PostureBrace, PostureSupport, AlignBrace, AlignSupport, OsteoBrace, and OsteoSupport Obviously you know that the Verum team went with PostureBrace, but OsteoSupport is a decent secondary option. The others are pretty bad but that's obviously part of the process here. Example 2: Lunar Lamp, Celestial Lamp, Galactic Lamp, Lunar Light, Celestial Light, Galactic Light, Lunar Orb, Celestial Orb, Galactic Orb, Lunar Beacon, Celestial Beacon, Galactic Beacon. Lunar Lamp is probably the best option here from the limited options I've listed. Example 3: If your product is a grappling hook with a hiking/camping focus (a popular product) - Your Descriptor/Adjectives could be: Alpine Outdoor Wilderness Wild Hawk Eagle Wolf Timber Your Subject/Product could be: Hook Clamp Clasp Claw Grasp After you’ve generate a solid list, combine the columns: AlpineHook AlpineClamp AlpineClasp AlpineClaw AlpineGrasp TimberHook TimberClamp TimberClasp TimberClaw TimberGrasp From this grouping, I might go with AlpineClaw or AlpineHook. But that’s only from 2 descriptor combos. It’s significantly easier to generate good names when you take a systematic process to naming like this
  9. If you’re starting with Instagram Influencers, and then transitioning to Facebook ads, which LLAs should you set up first and how should you set up your campaigns? Starting with Instagram influencers before transitioning to Facebook ads is a solid low-budget approach to gathering pixel data. Once you’re making at least 150 purchases per month - I recommend implementing Facebook ads as well and make use of your current pixel data. To start, set up your retargeting ads - start with: Top Time spent 25% on Site - 7 days ATC - 7 Days Initiate Checkout - 7 Days All website visitors - 7 Days Visited the URL of your best-selling item - 7 Days Instagram Engagement - 7 Days Recreate these audiences for 30 days and 180 days as well, and put them all into the same campaign. They won’t overlap because they’re inside of the same campaign. For the creative, use a dynamic carousel ad - just refer to John’s video on Facebook ads for how to set this up. Then, create the LLAs: IG Engagement 1%, 2%, 3% for e-packet countries, OR just AU, USA, UK, and Canada Website Visitors 1%, 2%, 3% Time Spent 25% 1%, 2%, 3% ATC 1%, 2%, 3% Multiple Page View LLA (See John’s video on secret lookalikes) Test these first - starting with IG engagement, then website visitors, then whatever you have the most data on. This should give you a solid foothold to start your Facebook ad campaigns and begin scaling as soon as possible.
  10. A common drop-shipping concern is how to handle customer refunds. You should always vet your products before shipping to customers, but sometimes quality can slip through the cracks. This is where a good refund policy comes handy. I recommend giving all customers a 30-day return policy if their product shows up damaged, in the wrong size, or incorrect in any way. If you don’t have your own warehouse to receive returns - you can just have the customers send them to a charity - this may improve goodwill as well. Your return rate should be below 5% if your product quality and shipping times are decent. You can improve your shipping times by reducing processing time or by using USPS. Don’t worry too much about losing money here - the return policy should actually increase your conversion rates because your potential customers will generally feel more comfortable if they know that they have the opportunity to return their item if they don’t like it.
  11. Drop-shipping is not some magic process to make money forever. It has its pros and cons like everything else. Here is a list of the pros and cons of drop-shipping. To help you maintain a balanced perspective (i.e. not putting all of the cons or pros at the end), I’ve listed them in alternating points below: Pro: You can set up your business to be fully automated, and “make money in your sleep.” If you want to let your business run itself while you work on what you’re actually passionate and excited about, you can do that. Potential “Con”: If you’re not prepared to become an expert manager, delegator and HR person, you may lose interest initially. Pro: Anyone can start dropshipping with $750, and you can generate a 6-7 figure+ profit per year business. Potential “Con: At this $750 amount be prepared to put in significantly more groundwork to build your website etc. Also because the barrier to entry is so low, you’re going to get customers who get a bad impression from other dropshippers selling the same item with low customer service. To see faster results you’ll want to have at least $2K to spend on ads. Event then - it’s on the low side. Pro: It’s not a big deal if your business doesn’t work - you can get a new product and site up very quickly and test again within a week. Con: Payment processors dislike dropshippers and may hold your money if they detect you’re getting a lot of chargebacks. (Insert Percentage) - .. Not a con, but You’ll need to learn great customer service to succeed in dropshipping. Pro: You’ll become an expert marketer, which is a skillset that will always pay. It comes with a sense of financial security once you get good at it Ending on a pro because dropshipping is a good starting source on income if you don't have much prior business skill. If you have other ideas, drop them below and let’s get it all on the table.
  12. You’ve probably have noticed that often your Shopify revenue and Facebook dashboard revenue don’t match… why? Here are the primary reasons: Customers saw your ad on their phone (mobile), and purchased on their desktop after they got home. Maybe they wanted to research more, maybe they were in a meeting. Point is - it’s not going to track. There’s no real way around this unless you surveyed your customers (would be excessive) Customers purchased AFTER your conversion window. I always use 7DC/1DV. If a customer saw your ad but purchased 2 days afterward - Facebook won’t track it. If they clicked on your ad, saved it, then purchased 8 days later. Facebook won’t track it. There’s an issue with your pixel integration. For Better tracking, Shopify’s built-in Pixel integration has gotten pretty decent. Apparently Trackify is no longer as good (last I heard). If you think of any other possible reasons - please share them below!
×
×
  • Create New...