We’re back. Welcome to our daily huddle episode number 54. We are back and right now I’m actually in Maryland for our Zero Up Elite event. Here’s the deal, I don’t know what the internet status is I did upgrade my internet right in my room so it is the enhanced internet connection. I hope that there is no such thing as what happened last time when I travel which was simply not being able to broadcast live on YouTube and Facebook at the same time. I just remembered that I forgot to actually come on live on Instagram as well.
First thing first, if you guys can actually hear me loud and clear, put in a ‘one’ right into the comment box right below if you are on Facebook and if you’re on YouTube put a ‘one’ right on the comment box on the right and also you’re on Instagram obviously make sure you put a ‘one’ as well so I can do a quick check in making sure that obviously you guys can hear me loud and clear. You guys can see my screen because if I am actually coming on live into our daily huddle and I wasn’t able to talk to any of you guys, it doesn’t make sense.
I’m getting a lot of ‘ones’ coming in. Excellent! I’m just checking on YouTube site, excellent getting ‘one’ started pouring in YouTube at the same time. Like I said earlier, right now I’m actually in Maryland for our live event that we are hosting. That’s why I’m actually in a very different time zone. The time that I actually come on live for our daily huddle in the next week, it’s going to be different, I hope that I could commit you this time of the day, but again I don’t know what schedules going to look like and I need to actually stay focus with the elite member so just to give you guys heads up on that end of things.
Now, in today’s topic, I want to cover Chinese New Year so obviously Chinese New Year is coming up in simply two weeks’ time right now and the official first day actually begins on either the 15th or 16th, I forgot where this I think it’s on the 16th. It’s the first day of Chinese New Year. As we all know, as a dropshipper you got to make sure that your vendor in China is able to either accommodate with your schedule or basically checking up with them on what time they are going to actually close down orders. Now, here’s the deal a lot of people start to panic about Chinese New Year. A lot of people panic that China is going to be shutting off for like an entire month and here’s the deal, China is not going to shut off for an entire month.
They know for a fact that they still have to run a business. Yes it is a big, big, big holiday festival in China but they still will have workers or employees to make sure that they are getting orders outs. Now, each manufacturer and vendor obviously have different schedules during this time period. The first thing that you absolutely have to do is contact your vendor and find out when they are going to actually stop fulfillments and when they’re going to come back. Usually it’s going to be a week-ish, a week two weeks max that’s what most of the vendors do.
There are going to be some vendors that will actually work through the holiday except for just a couple days. Maybe the first day of Chinese New Year and the second day of Chinese New Year, we’re just going to be the 16th and the 17th at the same time. So, you need to keep close communication with your vendors you actually look at the time and make decision from there. When you’re having ads running, obviously right now and it is a perfect time for e-commerce product because we’re now in Q1, a lot of the big advertisers stopped advertising. So, CPM is actually down right now. If you have campaigns that you are running that you’re doing really well with and you’re like alright I don’t want to shut down my campaign obviously. So, what should you do?
Here’s what I would suggest you to do. If your vendor is going to take let’s say two full weeks off and if they actually take two full weeks off, I would actually scale down the ad on whatever but your ad let’s say that you’re at $100, I would scale it down to like $20 for seven days in a row. A week prior to your vendors coming back to work, then I would actually slowly increase back my spend. So, having a couple more days like 7 days processing time, is actually going to be fine. So in your website, you should have a note saying that it does take 3-4 weeks for delivery. If you have that in your page, you’re going to be fine. Let it process for a week and once the vendor actually goes back to work, you tell them that you need your products to be shipped out right away. So, there’s two thing things that you got to do step 1, contact your vendor, find out what their time schedules are. Number one when are they going to cut off shipping, number two when are they going to be back to work.
Based on that, you would want to decrease your ad spend on the things that it’s actually doing well. I know it sucks but you want to make sure that you have happy customers because those happy customers are the ones that will actually come back and buy the products from you again. That’s where you actually make more money. So, very important stuff that’s what you would actually want to do. Now, if a vendor would say that they’re going to be off for like the longest time possible, let’s say like 3 weeks or something which is very rare, then what you have to do is you’re left in a position where if I were you, I will hide the product from the store and not advertise it until they actually come back.
Again, I would reset the ads or go back into spending more heavily a week prior of them coming back to work but you got to make sure you keep communication with your vendor and tell them that you want your product to be shipped out as soon as possible once they are back to work. So nothing to be really, really be afraid of, nothing to be really scared about. Again, just decrease your ad spend and then keep close communication with your vendor, these are two most important things that you obviously got to do. With that, I’m going to actually pull out our questions for today that is being featured and I’m just pulling up from my laptop right now.
[0:07:55] Question 1: Chinese New Year coming next month for a period of 23 days, how will this affect shipping times? Are the suppliers working during that period? Are they shutting down to celebrate?
First question is actually by Alain Astorino. He actually inspired me to talk about Chinese New Year
Hi Fred, with Chinese New year coming next month for a period of 23 days, how will this affect shipping times. Are the suppliers working during that period or are they shutting down to celebrate? Thx…..
He said hi Fred with Chinese New Year coming next month for a period of 23 days, how will this affect shipping times? Are the suppliers working during that period? Are they shutting down to celebrate? So, I addressed that and I hope that Elaine you actually took notes on it.
Please look in “INTRO” for my answer 🙂
[0:08:26] Question 2: What is SEO? Can SEO be an advantage to build traffic to your site? How? What process is involved?
The second question of today is by Juancho A. Valconcha – he said,
Hi Fred what is SEO? Can SEO be an advantage to build traffic to your site? How? What process is involved?
So, SEO actually stands for Search Engine Optimization. So, what you’re essentially doing is you are having what we call like meta tags, linking and a lot of other strategies that I personally don’t use because I’m not just good at SEO and I don’t really have time to investigate an SEO, but what it really is that it’s putting your product page or your website into the organic result of Google, Yahoo and Bing. So, instead of actually buying for the keyword, what you’re doing is you are giving the information that the search engine would need and hope that your placements so either your product page, your website is listed on the first page of Google, Yahoo and Bing. So, that’s what search engine optimization is. You are optimizing your website and your pages to be on the organic result.
Now, is there an advantage to build traffic to your website? Absolutely! SEO traffic do convert very, very well; however, there are a lot of things that you need to have on your site and a lot of other techniques that you got to use to actually have that listed in the search engine of the first page result. Now, how do you do it? What is the process involved? I’ll be very honest with you. I’m not going to be the person that will tell you I know everything because I genuinely don’t know everything. I only know what I’m good at so ultimately when it comes to SEO, I don’t really have much advice for you because through my years of running an online business, it is all about advertising online. That’s what I’m good at.
Advertising on Facebook, Instagram, Google with Display Network, search network Bing, etcetera. That’s what I’m good at. So, for me I never really invested time into SEO. What I would actually suggest you guys to do and thanks for bringing it up Junkow, is that I’m not sure if I actually have it on YouTube but I do have it on Facebook right now. If you guys actually look at my video description or my live post right now, there’s a link and that link is a 50% discount to go to a live event called the 3XC and you are going to learn everything that you need to know when it comes to SEO.
It is actually an event hosted by Kotton Grammer and also Anik Singal to actually host an event all about SEO. I’m personally going to be there myself and I have a presentation to do at the same time. So, if you want to learn about SEO, I would highly encourage you to go to this live event. Grab your ticket, it is very cheap for the ticket right now, 50% off. You are going to learn in person for 3 full days on all the SEO strategies and in fact you’re also going to learn exactly how you can even get clients to pay you to do their SEO at the same time. So, if you guys are interested on learning about SEO, seriously click the link above and if you’re on Youtube and on Instagram and you don’t see the link it is www.fredlam.com/3xc, that’s the URL.
[0:11:58] Question 3: If I run an ad agency managing few clients with different product lines, how would I manage my Facebook assets and pixel?
So moving on to the third question of the day is by Florence How – Lawrence said
If I run an ad agency managing few clients with different product lines, how would I manage my Facebook assets and pixel?
Great question! Business manager account is going to be your solution. Now, also I’m not sure if what kind of deal you have with your clients. Sometimes, when I was working with my clients previously, I don’t own their ad accounts. The client owns the ad account and then assign it to my business manager account. So, my business manager account will have access into all my clients ad account and obviously that’s what you want to do. You want to have one ad account per client and you don’t really necessarily need a different account per product if they have a diverse product line, but what you need to do is you need to make sure you set up custom product conversions for your clients so that you are actually having the right data that’s telling Facebook to optimize on your ads that you have for your clients.
Now, let’s say that if your client doesn’t have an ad account, then simply go to your business manager account and you could add a new account and as long as you have active ad accounts running and if you run out of the account limits you can contact Facebook to request more ad accounts so that’s what you want to do. It’s very important for you if you’re running an ad agency you want to make sure that one client, one ad account unless if the client has 3 different websites on 3 different portfolios, then you would want 3 different ad accounts for his three website. You always want to tie one ad account with one domain so that you are using the right pixel and the pixel is dedicated to that one website.
[0:14:07] Question 4: After purchasing Zero Up since July, I kept struggling but stayed committed, created a new store in late mid-December and managed to earn 4 figure in sales for my first 6 days of advertising.
I hope that helps you out. So moving on to the fourth question up today is by Dominic Sun – Dominic said
Hi Fred! Firstly, thanks a lot for your awesome Zero Up Training! It has been absolutely life changing for me! After purchasing Zero Up since July, I kept struggling but, stayed committed, created a new store in late-mid December and managed to earn 4 figures in sales from my first 6 days of advertising! I would like to ask more about LAL exclusions. How would you exclude all LALs from Viewed content, Add to carts, checkouts, and purchases?
Plus LALs from 1%10%. Could you use PixelBay custom audiences as the only exclusions without excluding 1% LALs for example for future LALs? Also, after 180 days has past from creating the PixelBay custom audience, PixelBay will start to disregard past audiences. How do we tackle this issue in the future?
Congratulation, Dominic! I’ve seen your progress and I’m super, super stoked and to be actually the person that inspired you and to give you the training that you need to generate 4 figures in just six days. That is absolutely phenomenal. So, you guys should all congratulate Dominic, write into the comment box. That is some inspirational stuff right there. 6 days generating 4 figures in sales. So I am very, very proud of you, buddy.
So, your question is I would like to ask more about look-alike exclusions. How would you exclude all look-alikes from view content, add to carts, checkout and purchases? Plus look-alikes from 1% – 10%? Could you use PixelBay custom audiences as the only exclusion without excluding 1% for example, for future look-alikes? Also after 180 days has past from creating the PixelBay custom audience. PixelBay will start to disregard the past audiences. How would we tackle this issue in the future?
So these are some pretty advanced questions. Here’s what you want to do and some of you guys I may lose some of you because this is going into more advanced strategy. What you want to do is first use PixelBay to create a custom audience based on each of the event of your visitors. So you will have viewed content which is viewing the products. You will have add to carts which is a person that click add to cart and you have initiate checkout which the person is putting in the credit card information to basically going into the Shopify checkout page and last but not least, there is something called the purchases obviously you all know that.
What you wanted to do – let’s talk about 1% first before I go into the other percent. So, let’s say that you have an ad running to the 1% viewed content. Now, when you have an ad running to a 1% viewed content and you set up another ad that is a 1% after cards what’s going to happen is the audience inside the app two cards are going to overlap with the audience from your viewed content because when you’re advertising, the first step for your customer is to go to your viewed content before they add to cart.
So, anyone that actually went to your add to cart would have already viewed content. So, with that let’s say if you’re setting up a viewed content ad, you want to actually exclude the add to cart so that the viewed content will only go after the viewed content look-alikes; whereas the active card will primarily go after the active add to carts. Let’s say let’s add this less complex things a little bit, let’s say that you’re going to add the imaging a check out right now. So, what you want to do is in your viewed content 1%, you want to also exclude the imaging check-out. Now, in the add to cards, you want to exclude the 1% initiate check out. So, the initial check on us on its own, the add to cart would only exclude initiate checkout, and the viewed content will exclude two things, the viewed content and in the initiate checkout the same time.
Now, when go to the purchases is actually the same thing. For purchases, you would actually leave it on its own, but when you go back to the viewed content, you would actually now exclude the add to cart, the initiate checkout and the purchases. Now, when you look at the add to carts, you would actually exclude the initiate checkout and the add to car. If you’re doing initiate checkout, you want to exclude the purchases at the same time. With this in mind, what’s going to happen is remember what is the step of your funnel? Viewed content, add to cart, initiate checkout and purchases. In each of the funnel, you want to exclude the other ones. That’s what you exactly want to do. When it comes to the other percentages, it is actually applying the same thing.
Let’s say for an example, you want to run a 2% look-alikes based on the viewd content then your 2% and in the 5th one your 2% viewed content should exclude all these at the same time. That 1% viewed content, the 1% add to cart, the 1% initiate checkout and the 1% purchases at the same time. So, that’s what you wanted to do because you do not want to have audience overlap. Now, what audience overlap typically is using the same fingers example anyone actually viewed the cart, would actually have to view the cart, user view the content which is viewing your product page before they even get to the add to cart.
Now, if you’re basically creating two audiences, the add to card is a second step. The first step is always going to viewed content. So, you always have people in the add to card that’s going to overlap with these guys over here. When you do that Facebook claims that they said they’re not going to penalize and they actually word it in a way where you are making the Facebook algorithm harder to optimize and that’s what you do not want to do. You want to actually have exclusions at play. Now, to answer your question about the 180 days, so it is a default that Facebook has in their system which you can only target to people who actually engage review in the last 180 days.
It’s not something that we can control. After 181 day, all the customers on day one if they never interact with you afterwards, they are going to actually drop off from that audience. There’s nothing much you can actually do about it. Again, this is what it is. On Google it’s actually 540. They give you a longer time I don’t know why Facebook just gave us 180 days. They may have ran some numbers and see that if a person actually crossed 180 days if they’re not going to engage, they’re literally just not going to engage anymore.
[0:21:11] Question 5: How do you see e-commerce in 5 years?
So moving on to the last question if today is by Yannick Dangoumba, Yannick yeah it has a pretty interesting question for me. He asked –
How do you see e-commerce in 5 years?
That is a really good question and here’s the deal, for me I usually look at things in 3 years timeframe and I don’t really look in 5 years because in 5 years, there can be so many changes and with an online business and with our technology nowadays, things just evolve and change at a rapid pace. So, 5 years out, I personally believed and I feel that it is way too long. So, I always look into three years plan whatever I do in my business and my personal, I really create things around a 3-year plan because usually on the 45h and 5th year, things will have a massive and drastic change. Now, if you ask me how do you see e-commerce in 3 years, I would have a perfect answer for you. For e-commerce in 3 years, what I’m going to see is that there are going to be a lot more people going to create their Shopify store and really building their online store as an entrepreneur. So, as we all know when there starts to be – I can’t say a saturation because obviously the number will keep growing because according to Statista, the amount of money that’s going to be spent in the next 3 years will keep growing up. So, I don’t see a market saturation; however, I do see the level of competition and the competitiveness to actually keep running or start new when it comes to running a e-commerce store.
What I see is that if you can manage your average order value as high as possible, you are not going to have any problem if there are any changes because if you have a high average order value using upsells using emails etcetera, any changes that happens, it won’t have a drastic effect on your business. Now, with that being said, where I’m leading to is the average order value needs to be looked at and in order for an e-commerce stores 3 years later to really succeed is to really look at the average order value. Whoever has the highest average order value will keep crushing it and will win in the space. Now, what I can also predict is that 3 years later, there will be another dominant player for buying traffic online outside of Facebook.
They are going to be built specifically for e-commerce. What is it right now – I actually have two different predictions in place, my first prediction is going to be back to Adwords. They are going to do a lot of things to actually get back their market share for e-commerce and I know that for a fact. The second which I personally feel and I see a potential in there, it may be a wild guess for me which is Twitter. I think Twitter will have a comeback for e-commerce, giving the fact that right now they are allowing images and allowing videos in their Twitter feed. So, I feel but there is going to be a potential for e-commerce when it comes to traffic source.
Now, the other prediction that I have and how I see e-commerce in 3 years is virtual reality. That’s going to be a very, very big thing as you guys all know, I’ve already told you that video ads are just going to convert very well for e-commerce because people just love the experience of a video, seeing the product can actually see themselves using the product that’s why video ads work. But what I can actually see in three years from now is virtual reality. People actually buying the product or using some kind of apps or VRs to really see the product in 3D and buy the product, especially, for fashion, I think it’s going to be very, very massive. I’m pretty sure fashion will be for e-commerce will actually take a very, very big change in 3 years where people get to actually take a picture of themselves, use a VR and then can actually with the VR looking at the mirror, they can actually see themselves how they look like with that dress or jeans or t-shirts etcetera.
I think that’s where the trend is going to happen. So, when it comes to e-commerce, I think that there’s going to be more and more people coming on. I think that is going to be a fact. I know for a fact that he who is the most educated will always strive because things will change. Things will change and the other thing that will really, really work well and I know that it’s going to take off even more is going to be a subscription base. So, if you’re able to actually use some kind of subscription for the e-commerce store that will actually help you a lot because a lot of big brands are moving towards that route right now at the same time.
So, I hope that really gives you guys a quick update and idea. Keep in mind I’m in Eastern time zone right now. So, I may potentially be coming on live a lot earlier than where I was which is in Vancouver in Pacific Time. So just giving you guys heads up on that. So other than that, if you guys have any comment, any feedback, let me know, write into the comment box, tell me what you guys think about today’s daily huddle. I’m going to choose to do my best you come on live every day even though I’m at an event, I’ll be live here every day even though I’m traveling but do my best to be on live and I do apologize for missing yesterday because by the time that I finished traveling I hit back at the hotel. It was 1AM already. It’s pretty late for me to come on live. It doesn’t make sense so I actually missed one day. Other than that, listen keep hustling, keep working towards your business and keep gaining your own knowledge. It is superbly important. Other than that, make sure you leave a comment right below, like this video if you’re on YouTube, Facebook or Instagram, make sure you like this video, share this video and help me share more of my information, my knowledge to the public. I look forward to seeing you guys tomorrow. Bye now.