What’s up everybody? Fred Lam here and welcome to our daily huddle episode 21. Today as you guys can actually see the title; I actually want to share a little bit about why you should stop selling generic products. Listen, at the end of the day there are so many products for you to sell and a lot of people are saying, “Well I’ve been trying to run ads and it’s not running. It’s not doing well.” With that, here’s a very important thing stop selling generic products in your Shopify store. Let me share with you what I mean by generic products. First of all if you are in the jewelry, fashion or accessories such as bracelet etc. you don’t want to sell something general or super generic. The reason is that because you are going to fight with larger brands, other people who are selling a generic product.
When you sell a generic product let’s just say a piece of watch that has nothing special about it; people are not going to take action because they’re not impulsive enough to pull out their credit cards and buy something that is just plain in general. You want to sell something that is going to be pretty up to par and people have like a wow aspect to things. If you guys actually are on Facebook a lot there’s one product that has been selling really well. I’m not sure how well it is selling right now though. It’s an HD projector. It is not a regular projector because it is a mini version. It is a projector that people go like “Holy crap I wouldn’t have thought that a projector would cost $200. I couldn’t imagine like a cool little projector and I can actually play movies anywhere I want.” That’s what you have to create. You have to sell something that people are tagging the wow factor on things. Something once people see it, they will buy it right away. You can’t just keep selling general items.
The reason why I’m bringing this up is because in our daily huddle today one of you mentioned that he has a camping store and selling camping supplies. Let’s face it there are large companies out there that are selling those generic tents, lighting or fishing tackles. In order for you to shine out and start getting customers you must have a product that will basically blow people away. It will also act as a bait to get the customers to go into your door because if you are just selling a generic piece of product like a tent for example people go like “Well, I can go down to the local shop that is 100 years old or a Fortune 100 company to buy at the same price. Why would I buy from you?” You have to get over that barrier through ads and show people like “Hey I have a cool product check it out” and from there you can basically identify who your customer avatars are going to be and sell them these generic products. It’s very important that you actually keep that in mind. Just like selling jewelry, I know a lot of people who have a jewelry store and when they show me the store it is basically a store that sells like rhinestone necklace or just some generic piece of jewelry that doesn’t tie into anything. You want to basically have it tie into something. One quick analogy for example is a watch; I have sold a Paris watch like thousands of them. The reason why I was able to sell it is because I created the avatar. It is kind of a generic product, it’s a watch but I tied it in with Paris. So for me when I advertised this on Facebook I did go after people who love Paris or the Eiffel Tower and showed them that watch which they absolutely bought.
It’s kind of like if you go to New York. I actually went to New York 2 weeks ago and everywhere I walk I saw people wearing those I LOVE NEW YORK t-shirts. It costs a lot of money but the truth is people are able to actually make a lot of money selling on streets those t-shirts because they are actually at the perfect time since there are a lot of tourists within the area. When you align the right targeting, the right demographic and the right mindset during that particular time that’s when things will take off and sell really, really well. Again, do not sell generic products in your store.
[0:10:00] Question 1: I have a question, my Facebook Pixel is correctly installed, some of my ads show lot of add to cart and website purchase, but when I get back to my Shopify store I don’t see any purchase or add to cart! what can be the problem here?
Moving on officially to our daily huddle. The first question is by Merzouki Abdelmoula:
Hi Fred, my Facebook Pixel is correctly installed, some of my ads shows lot of add to cart and website purchase, but when i get back to my shopify store I don’t see any purchase or add to cart ! what can be the problem here ? Thanks
That’s a very interesting thing that you brought up because I do have some of my members who actually experience the same thing. Sometimes for some reason they’re getiing like weird data on their pixel. If the pixel is confused or messed up, it will affect the campaign performance and your business itself.
The first thing that I want you to do is simply go to Google and search for the Facebook pixel helper and install it in your Google chrome. Once you have done that pull up your website to see if your pixel is actually in your website. Sometimes for some reason, there are times that there is more than one pixel being installed and obliviously that will sabotage the performance of your ad campaigns. You have to identify first who the culprit is or is it an installation problem. If it is not an installation problem then what you have to do is get a new ad account and use brand new pixel and restart everything. Again, if you are basically getting a lot of irrelevant data in your Facebook pixel it will affect a lot of things.
[0:12:45] Question 2: Which additional books can I read to directly help me master drop shipping, driving traffic, social media marketing, email marketing. Facebook ads (and how to understand and analyze the data like cpc) and anything else you might think is helpful.
Moving on to the second question by Tom Spencer. He said,
Thanks for providing so much value everyday and being here for us! I look forward to our Daily huddles every day!
My question is… What books do you read? which additional books can I read to directly help me master drop shipping, driving traffic, social media marketing, email marketing.Facebook ads (and how to understand and analyze the data like cpc ) and anything else you might think is helpful.
At this point I cannot afford to take a 500 dollar class however I can afford some 15 dollar books. Once I start making some money from Shopify I am going to buy zero up with the money so I can have more in-depth training!
Thank you for everything you do!
Sincerely -Tom Spencer
Tom here’s a couple of things right out the gate, 1. go download my 10-part video training series. It’s called Zero Up Lite. You can Google it, find the link and download it. It will help you kick-start right away and help you basically start getting your first sale. It will also let you understand and master drop shipping, inventory arbitrage and Facebook ads.
You were asking me if what books I read. That is a very great question that you asked because I’ll be honest and very truthful with you is the fact that I hardly read books. I know where I am at in my career I should be reading a lot of books but I just hate reading books for some reason. It’s very hard for me to actually finish an entire book at the same time. However, there are a couple of books that I finished from start to end which helped me a lot. The first book is by Michael Masterson, it’s called Ready, Fire, Aim. That book really changed my perspective about running a business. You have to basically read that book. Another book is Gary Vaynerchuk’s book called #AskGaryVee. I actually used audible and went through all of it. The other one book is entitled Good to Great which is I’m half-way through right now. That is a really, really amazing book too. These books are basically to train your foundation and mind set to be an entrepreneur. Ultimately at the end of the day yes there are so many ways for you to build a business either online or offline but what is most important is actually your mindset, you knowing exactly and understanding what failures are, and how to handle certain situations. And being in the mind set is far more important than simply what are the step 1, step 2, step 3, step 4 in running a business. I usually read those kinds of books. If you want to have more tactical stuff or more practical information on how to do this and that, make sure you check out my YouTube channel I have a lot of video training on there. There are also other people on YouTube who provide really amazing stuff and can help you out at the same time. Again, that’s what I would suggest you to do. If you really want to read books to help you in entrepreneurial side, those are the books I recommend.
[0:16:41] Question 3: Can I ask if we can advertise on Facebook and Instagram simultaneously?
Moving on to the third question by Shanthen. Shanthen said,
Can I ask if we can advertise on FB and Instagram simultaneously?
For example, I post a picture of my product in my FB page, and using that post, i create an ad at FB and Instagram simultaneously. is it recommended ? Or do i have to create ad separately for that post? Be blessed by the divine Fred ! 🙂
Great question! You want to make sure you start advertising on Facebook and Instagram right now. Instagram conversions are amazing. The CPM is a lot cheaper too. So you want to basically start looking into running simultaneously but here’s the most important thing, you have to make sure ad set for this placement because the behavior on Instagram is a little bit different than Facebook. The size is also very different.
Yes, you want to make sure that you simultaneously advertise on Facebook and Instagram. In Instagram the size of the image or the video is very different compared to Facebook, so you want to basically create a separate post just for Instagram at the same time. I hope that helped you out.
Question 4: What’s the best result am I aiming for when it comes to cost per purchase? Does it matter as long as it’s ROI positive? Or do you have a certain target that you aim for? I'm doing 4 ads with purchase $5/day all of them 9-10 relevance score but only making 1 sale/day. Or is that a sign to scale up and spend more on the ads?
The fourth question is by Peter. He said,
First of all, thanks for ur contents, I’m finally getting sales through fb ads!
Whats the best result am i aiming for when it comes to cost per purchase? Does it matter as long as its ROI positive? Or do you have a certain target that you aim for? I’m doing 4 ads with purchase $5/day all of em 9-10 relevance score but only making 1 sale/day. Or is that a sign to scale up and spend more on the ads?
That’s a really great question. Here’s what I usually do, if I’m only getting a sale a day. I let it run for a couple more days to really see if I’m consistently getting a sale. If you’re basically only getting a sale a day based on $5, it is actually looking great. I won’t scale right away though. I’ll see for a couple more like around two to three more days if I’m consistent. If I am consistently getting sales then that’s the time that when you want to start scaling up. And you are right, ultimately at the end of the day it’s all about the dollar, the ROI. If you are getting an ROI positive and if you are basically breaking even it doesn’t matter what CPC, what CTR, what CPM you get as long as you are having a positive ROI, it’s a sign for scaling. Ultimately, we want to basically generate profit right from the ad.
It doesn’t matter if you’re paying $3 cost per click. But everyday you’re making positive ROI from your ads then, why stop it, right? Scale it! Obviously there are room for improvement and area of opportunities. For example, if you are seriously getting $3 cost per click and you’re still making an ROI positive then you know for a fact that if you increase the click-through rate it will actually decrease your cost per purchase giving you more margins to make. Again, you are right; the main focus is really having a positive ROI.
[0:21:06] Question 5: My colleague, Esrar Mongie invested in some of your products like iProAcademy and LeadsTunnel to mention but a few. Together, we set up a Shopify site, where we are marketing camping gear off Aliexpress. We've been running ads of Facebook getting some traffic to the site but not getting any sales. Initially, we targeted the USA market and more recently have included Australia and New Zealand. Our basis was that being winter in the northern hemisphere (USA), our camping gear would probably do better in the southern hemisphere, (Australia and New Zealand) currently experiencing summer.)
Moving on to the last question by Anthony Chitsa. Anthony said,
My colleague, Esrar Mongie, invested in some of your products like iProAcademy and LeadsTunnel to mention but a few. Together, we set up a Shopify site, Camptribeshop.com, where we are marketing camping gear off Aliexpress. We’ve been running ads of Facebook getting some traffic to the site but not getting any sales. Initially, we targeted the USA market and more recently have included Australia and New Zealand. Our basis was that being winter in the northern hemisphere (USA), our camping gear would probably do better in the southern hemisphere, (Australia and New Zealand) currently experiencing summer.
May please take a look at our site, and advise us accordingly. Also, should you want to see or have access to our Facebook Ads, we are happy to give you access.
I did take a look at your website but I don’t do that in our daily huddle to be very honest with you but I did take a look prior to coming on live. First of all, again, I don’t review any campaigns during our daily huddle. I’m just here to answer questions which you may have that I basically get an answer and helping you get unstuck.
I did go an extra mile by looking into the site and it inspired me to actually start out this topic, to stop selling generic products. I looked at your store, you’re selling generic products. There’s none wow factor. If I am a camper and I go to your site I will say, “Cool, alright. I’ll just go down the road and go to Dick’s Sports Goods or go to Cabalena’s or RV World and basically buy it from there because those are bigger brands, I will rather buy from a bigger brand.” That’s the first thing. You don’t want to sell a generic product. You have to look for a product that will give the wow factor to these campers and use it as the front-end product to attract this people to come into you store. Because once they actually come to your store and gave you their credit card and start buying products then at that point you can sell them all kinds of generic gears in terms of camping.
Ultimately, you need to find that one product that is going to basically attract this people. You need to find that one product that basically get those people to come into your store, give you their credit card and go through the customer journey and start backing them other camping products. And I know for a fact right now that on Aliexpress there’s a lot of amazing camping products that you can’t really find elsewhere. Those are the products which either you can do a demo on or just gives a complete wow factor that people’s like, “I’m going camping in two weeks I definitely need this product right now.” So you need to have that wow factor in place because that’s your hook. That’s what attracts the prospect to become a customer and start buying other products in your store. If you really want to have your store take off, you have to find that one or two products that will attract these people, get the wow factor, make them buy from you and simply just sell them other products through your product line that can be more generic because now they are a customer of yours they will buy all these other products that you will basically have for sale.
Anthony, your store set is fine. You want to find a few products to test into the market that again gives a wow factor or you can create a demo on it. Here’s a tip for everyone who is watching right now, I usually look at “wow” products. If you follow the Facebook page called Insider Design, they always feature products. They feature products with wow factor not just generic. The more that you see these products, the easier for you to find similar products to sell. You need to understand that concept. You have to go through those wow factors. You can’t just sell a regular generic product because it’s not going to work. You can’t just sell a hammock through a Facebook ad; you have to sell a special kind of hammock that can do XYZ things and you do a product demo to it, then it will start selling right away. That’s what I would suggest you to actually to take a look at because that’s what you need. And for any of you who are watching and not getting sales, it’s really because of that realm of things. You want to make sure that you find a product that will create that “wow” factor and giving people “wanting” it badly in whatever niche that you are in.
That’s really it for our daily huddle for today. Put in the word WOW into the comment box or in the live chat if you guys love our daily huddle today. The rich dad summit is going to happen this Saturday. If you haven’t grabbed your tickets, there’s a link above this video on Facebook and right below on YouTube, save your seat it’s only a $1. What I’m also doing is that anyone that enrolled or got their ticket to the rich dad summit, you’re qualified for a raffle to win a trip for free. I’m going to pay for your flight and hotel and you’re going to send a full day with me. We can talk about your business. It can be a full one on one consultation and all those other fun stuff.
If you want to get a chance to win, make sure you sign up and grab your ticket for rich dad summit. It’s going to happen this Saturday morning; it’s only a buck to get your seat. The link is above this video on Facebook and right below on YouTube; make sure you save your seat.
I actually got a comment that came in by Mike. He said, “Wow that was fast.” I know that you guys absolutely love our daily huddle but again, like I said we’re going to do this every day. If you have a question that you want to be featured in our daily huddle go to www.fredlam.com/ask, fill in that form and then you will get your question featured right into our show. Other than that, I look forward on seeing you guys tomorrow.
Tomorrow I’m going to come in later because I have members only webinar that I’m doing on every single Thursday. I will probably come in at 9PM Pacific. Keep hustling, keep working on your business and remember to keep taking action. I’ll see you guys tomorrow. Bye now.