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Rcheung

How do you know if you have a losing product?

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Hi Gang!

Wanted to see how you guys determine if your product is a loser or not. 

It is obvious if you receive consistent sales coming in on the first 2 days of testing you most likely have a winning product. 

But how bout for a losing product? how will you determine if your product is a loser? I launched a product few days back ran an ad for testing following verums FB Strategy Phase 1, i received a sale on the 2nd day of testing. had 4 add to carts and 1 purchase.

would you guys recommend to retest the item with different interest and ad creative? or would you guys recommend to cut the product and go to the next product? How would you determine when to cut a product if it made a sale on the second day?

any feedback would be appreciated! 

Thanks!

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Conditions of a good product:

  1. Can sell it for at least 2.5x your cost
  2. Solves a problem (e.g. back pain, insomnia, etc.) / has a wow factor (think moon lamp)
  3. Not easily found in stores

If all of these are met, and if this is a product that's known to have worked, keep testing different creatives and target different interests before moving on to a new product. Hope this helps! 🙂

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You have to know your KPIs.

If your net margin is $20, then your Target CPP is $20, target cost per IC around $9-$13 and target cost per ATC around $4-$7.

(That's just an example.)

You have to see if your Ads manager numbers match your target KPIs or are at least close.

 

Edited by aBBa
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On 3/28/2020 at 9:59 PM, Law said:

Conditions of a good product:

  1. Can sell it for at least 2.5x your cost
  2. Solves a problem (e.g. back pain, insomnia, etc.) / has a wow factor (think moon lamp)
  3. Not easily found in stores

If all of these are met, and if this is a product that's known to have worked, keep testing different creatives and target different interests before moving on to a new product. Hope this helps! 🙂

Definitely will keep testing! thanks for the pointers! how are you currently creating your creatives? are you making them yourself or via Fiverr? 

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4 hours ago, Rcheung said:

Definitely will keep testing! thanks for the pointers! how are you currently creating your creatives? are you making them yourself or via Fiverr? 

Making them myself, I'll use a mixture of clips from YouTube as well as order the product from Amazon and record some footage myself

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