Starting from scratch, learn to open a store on shopify in 30 days and find the main product suitable for advertising on FB—Day13

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What I want to talk about today is how to find a flagship product suitable for advertising on FB, and then add this product to your store.

The main products we are talking about here do not only refer to products suitable for advertising on FB. However, before telling you how to find products, we must first understand a few things.

Here we first take a look at which standards such a product must meet. Because every product can be a flagship product, we need to know what standards the product must meet when looking for a product to be considered a good flagship product.

First of all, I will tell you what is the key to finding a good flagship product, so that you can not only make profits, but also make countless money in the long run, because you will set up email marketing in sendlane (after-sale email series effect) very very good).

Then, I will explain impulse buying and the buying psychology behind it. After that is the remarketing behavior, you will know why there is remarketing behavior after impulse purchase. Finally, I will briefly talk about consumer psychology.

This part is very important, you must concentrate. Because whether you understand the working principle of the main product, you can basically determine whether your advertisement and your store can succeed.

Below I will analyze one by one.

First: the key point.

Your flagship product should be unique, and your customers are willing to pay for it with their credit card.

If you only sell jeans, then it is not special. The unique point is: how affordable is the price of this pair of jeans, how good the shape is, etc. In other words, we have to sell products from a special angle.

One thing to remind you here is that it's not that your product is ordinary, so the sales angle will not be special.

Like the jeans we mentioned above, jeans are not a rare thing, but the most common product. However, we sell jeans from a special perspective. For example, 5 pairs of jeans cost 15 US dollars, which is very attractive. Such a large-scale discount activity itself has the potential for hot sales.

Products can be unique, but it can also be our way of selling.

So remember what we said earlier: Your main feature should be more unique, and your customers are willing to take out their credit cards to buy.

Of course, if you are the first to sell a certain product, it is very simple. You can set your own price, and the market’s response will tell you whether your price is reasonable.

For example, this perfectsulpt shop selling bras. In fact, they are not the first to enter this market, but they are the best in marketing for this market. There was a time when the price of the following product was around US$30, but it has now dropped to US$21. Estimated sales of tens of millions of dollars:

In fact, there is nothing special about them, that is, their marketing methods are different from others, and this marketing method has brought them success.

Second: impulse consumption.

Customers are generally prone to impulsive consumption of products with prices ranging from $10 to $20. The example above is 21 dollars (only two or three dollars are sold on AliExpress), which meets my criteria.

Moreover, women are more likely to consume impulsively. Of course, I’m not saying that every woman is like this. I mean, if women want something, they will buy it directly regardless of the price.

You look at those shops that target female audiences, such as fashionnova, kyliecosmetics and other shops. Look at most beauty shops, users don’t care how much they spend.

A lipstick with a price tag of US$120 may be bought by anyone. Of course, this is related to the issue of brand awareness.

How did Perfectsculpt find this product? In fact, it's a bit like the gadgetstore I told you before. That is to say, put various products on a website to see which products have a good conversion rate, and then move these converted products to their own brand store for sale.

Products with a price of more than US$20 are not so easy to make customers impulsive consumption at the first contact. In other words, if the user sees your ad for the first time, after clicking on the ad, the possibility of making a purchase is not as high as that of a product with 10-20 dollars.

For us, there may not be a large price span of more than 20 dollars, but for consumers, the price is on a level, which will greatly affect the conversion rate.

Therefore, if your product is targeted at a wide range of audiences, such as women and men, rather than a smaller audience such as bulldog lovers, the price of 10-20 US dollars can basically lay the foundation for success.

Many people say that users will not buy products until after 7 contacts. Once Jason Fladlian (sold a product of 200 million US dollars through a webinar) said: "It is true. Users will not buy until after 7 contacts, but this is already a thing in 1944! It’s 2019. The times are different. Today is different from the past. Now users have to contact 40-60 times before buying products because the information is too flooded."

If you think about it, in 2000-2005, there might not be so many advertisements, and Facebook (founded in 2004) did not exist yet. At that time, the user may buy the product the first time they see the ad.

But now, users may not click when they see the advertisement, and then the user browses other content, and the advertisement will follow the user. This is why we will do remarketing later.

Users will still see this ad when they browse other content. Maybe they will not click on the ad for 30 times, but will click and buy when they see the ad for the 31st time.

Therefore, our remarketing activities are very important. Because remarketing will increase touch points, we need more touch points to make users buy.

Adding more touch points will cost more money, and users will subconsciously buy products only when they see your product a certain number of times.

So we have to spend more on advertising, which means that our profit margin will be compressed, but at least it proves that we have been issuing orders. Therefore, we have to find a balance point and a relatively low contact point for impulsive consumption.

However, touch points are impossible to measure. But you can look at the frequency of your ad. For example, the ad frequency is 15, which means that the average number of times users see your ad is 15 times.

You can also look at the number of people covered by the ad, the number of impressions, the number of purchases, etc., to understand how many times a customer needs to be exposed to the ad to make a purchase. Of course, frequency is not the best data to measure, we will discuss this in detail later.

So remember: in the past, users needed to contact 7 times before they made a purchase, but now it takes 40-60 times before they make a purchase.

Third: Remarketing.

We mentioned earlier that customers need to contact many times before they can buy. We do remarketing to increase the chance of contact with customers. When doing remarketing, you can set the product price higher.

Because if users see the product or service in your advertisement more often, your brand will penetrate into the hearts of the audience, and the audience will be more willing to buy.

In fact, you are subconsciously implanting products into the hearts of the audience. Because the audience sees your product for a long time, or sees your advertisement everywhere, then the audience will associate your product with your brand.

I remember one movie was about subconscious. There is a scene about gambling. The male protagonist has been losing money, but in the end the male protagonist made a beautiful ending to the gamble.

Because the actor has been subconsciously instilling the local tyrants, planting a certain number of information in his mind, and constantly reminding him of this number in the things around him. In the end, the local tyrant believed the information instilled by the male protagonist and lost miserably.

If you say that no matter what you browse online, you will see my information. If I promote things about Shopify everywhere, then you will also connect Shopify with me. If you see Shopify's LOGO, then you will also associate me with Shopify's LOGO.

This is the subconscious mind, your information will appear anywhere. For example, the user reads our ad, and then leaves to look at other pages, but our ad will always follow the user.

Users may be annoyed to see such information, but this is an advertisement. The more you appear in front of others and the more touchpoints you have, the deeper the impression you will leave on users, and the more likely users will think of you.

In fact, tracking users online is also understanding consumer psychology. Adroll is one of the largest advertising service providers in the world. This company has made more than N money. The money-making model is actually remarketing. They charge by bid. For example, if the cost of FB thousand impressions is $1, Adroll will spend $1.01 to display your ad in front of the target audience.

You see, they have brought customers $246 billion in sales, and the average ROI is 5 times higher than the ROI of others. This is the total ROI, which means that they will advertise on different platforms, such as Google, FB, etc. If you see a remarketing ad on the CNN website, it’s probably from Adroll.

Taking the example of Adroll does not let you use Adroll right away, but just lets you know the importance of remarketing.

The above is to find the main product to explain the content.

Finally we look at an example. The following pants:

This shop was bought at a low price from others, and the pants above should be the most converted. In a short period of time, this shop has brought in sales of 30,000 US dollars, advertising costs may have spent 15,000 US dollars, and finally there is 15,000 US dollars left. You see, the price of this product is US$20, which fits our impulse consumption price range above.

Therefore, I have given you the standard above, and you can find the main product according to the standard.

This article comes from Gu Xiaobei's B2C blog