Turning a mediocre product into a sales generator. And retargeting for additional revenue
Here we are again. Bringing you new ideas about spotting the problems in your funnels that limit your sales from growing. Then we move onto retargeting tactics. ‘Cause cold conversions don’t always make things happen…
Spotting the bottlenecks
When your products start doing magic from day one, it is quite easy to scale up and keep the sales rolling.
However, when that doesn’t happen, and the products you test don’t deliver satisfying results, it’s hard to move on.
Addressing this problem, Justinas Ge shared a post where he wanted to highlight the problems that could stop a mediocre product from becoming a gold vein.
Let’s jump straight into it.
Initially, Justinas Ge categorizes the products into 4 tiers, not to be confused with geos:
- Tier 1: 10% of all the products you are testing. Fantastic: Products doing great figures and converting solely on cold ads.
- Tier 2: 30% of the products you are testing. Good: Solid results, cold ads are at least breaking even from the start and remarketing is bringing decent ROAS.
- Tier 3: 40% of the products you are testing. Mediocre: ROAS is hardly breaking even or slightly negative.
- Tier 4: 20% of the products you are testing. No sales or Add To Carts.
Justin says that it’s possible to turn a tier 3 product into a tier 1 product. How? Open your Facebook Ads Manager and spot the following obstacles:
- CPMs: If they’re higher than $20-25, you might be targeting too narrow audiences or not using at least 4 placements.
- Link CPCs: Higher than $0.80? Your creative might not be good enough.
- Link Clicks vs Landing Page Views: If there is more than a 30% drop, your website might be loading too slow.
- Landing Page Views vs Content Views: Is there a drop here? Try to change products listed on the top section of your website.
- Content Views vs ATC: If ATCs aren’t at least 5% of Content Views, there might be problems with Conversion Rate Optimization or the price of the products. Aim for a 5-25% ATC.
- ATC to Checkout: Out of 4 ATCs, usually 1 person should checkout. If not, make sure your website has a smoother checkout experience. Some themes make it hard to find the checkout button. You can use heatmaps to spot this problem.
- Checkout to Purchase: Here you should have a 50-75% conversion rate. If it’s lower, there could be problems with the shipping price. Or last minute resistance due to lack of trust in your website or brand.
Well, this is a short but useful diagnosis of your funnels to make those sales grow.
Yet, keep in mind that you can’t turn every product into gold! Unless you have the WTAFF Crew’s copywriting skills… Angles, creativity and product appeal play a big role in products’ success.
Well, we are waiting for the next case study on product angles. Someone out there?
Do you even retarget?
Yes? No? Sometimes?
Retargeting is important in order to convert your warm audiences into hot buyers. And to do this right, it’s also important to hit your prospects in different ways. Depending on which stage of the decisional process they are at.
Julija Agusi shared some suggestions in the Momentum Marketing Tribe group, to achieve high-returning retargeting campaigns. Let’s slide into them.
First, you need to identify the different audiences to re-market:
- All-time visitors or visitors of a specific page. Buyers excluded.
- Anyone who engaged with your Facebook Page/Instagram Page/watched a video etc.
- People who abandoned the cart.
- Your email list/customers.
Let’s see how to retarget these different audiences:
All-time visitors (non-buyers)
Campaigns to retarget this audience:
- Ads showing your best-sellers.
- Ads showing products related to the ones they looked.
- Ads offering a discount on the products they visited.
How to retarget this audience?
- Dynamic ads to remind them what they have in the cart.
- Ads offering a discount on the products they left in the cart.
- Don’t charge for shipping. Many prospects don’t convert because of high shipping costs.
- Video testimonial ads.
Here, people have already bought from you, so they’re more likely to buy again. In this case, you can target them with:
- Ads showing products with higher prices and margins. Take them deeper in the funnel!
- Upsell and Cross-sell: Retarget last 7-day buyers.
- Thank you videos: This helps in growing your brand awareness and strengthening your customer loyalty.
- Ask your buyers to create a review video to use it in your next ads. User-generated content works best!
Talking about Campaign Settings, this is what Julija Agusi usually does:
- Target last 7-day buyers.
- Objective: Reach.
- Frequency: 1. You don’t need to hit your prospects more than once.
- Budget: Depends on your audience. However, Julija says there is no reason to spend more than $5 per day.
That’s all. The good ol’ days of people converting with cold ads might be going away. So, build these audiences and squeeze as much as possible!
How strong is your Amazon health
Over the last couple of months, we have been bringing you a lot of content related to Amazon. Amazon Ads. Amazon Analytics. Amazon SEO. And we have always backed it up with hard facts and figures!
Here are a couple more facts!
According to this industry report, global e-commerce will reach $4.5 trillion in global sales by 2021. Really?
And as stated by this latest Internet Trends Report, 49 percent of product searches start on Amazon.
Does it now make sense to list your products on Amazon? Yeah?
But Amazon is not like your regular Shopify store. Its sheer size and volume make it an e-commerce platform like no other that we have ever seen.
So, what’s in it for us e-commerce owners? Apart from those big figures above?
Well, here’s what it is. No brand or company has yet created the ideal formula to sell their products on Amazon.
Because it’s not just about having your products listed. It’s also about having the right visibility, the right distribution and fulfilment channels and much more.
The team from Marketing Land measured the successes and failures of hundreds of SKUs/brands and figured that by amplifying some specific components, a brand or manufacturer can be very successful on Amazon.
Here are 5 such components, vital for diagnosing and improving the health of your brand on Amazon.
Creative: Using creative assets that look like brochures will not work on Amazon.
Casual pictures of your product lazing around on the weekend couch won’t bring you sales.
What’s going to work are creative assets that depict the usage of the product.
Put your products to work and use pictures that show how the product works and what it does exactly.
Search Engine Optimization: Amazon is a great search engine where customers search for products using keywords. It requires a constant review of product ranking, keyword and content analysis to ensure the health of your product.Keywords are your diagnostic tools on Amazon.
Inventory Management: Use projections and seasonal forecasting to assess your logistics and supply chain operations. Not having the right amount of inventory will hamper your rankings.
Third-party sellers: As a manufacturer, you will be surprised to see the sheer number of outside parties selling your products. Measure the number of third-party sellers and their contribution on your direct sales. It will help you uncover issues such as counterfeiting and sales of older goods.
Merchandising: Figure out the marketing and merchandising efforts available, both on Amazon as well as outside of it. Amazon Marketing Services is a powerful and helpful tool to do that. Review competitive products and their health scores to address best practices of particular categories to reach consumers.
Maybe, you are now convinced and interested enough to put your products on Amazon. Hence, we thought it’s only helpful for you to understand how to review your product health on the platform. After all, this e-commerce platform is huge. And a great way to ensure your product visibility is by assessing your health on the platform.
Here’s to not losing out to your competition.
Six new offers from Converting Team!
Converting Team have been around for a few years now and they have been early supporters of WHAT THE AFF.
They want you guys to stay ahead of the competition. So they are premiering their 6 new offers to you! Carefully crafted by Converting Team with NEW ANGLES for your campaigns and each comes in 11 languages: EN, DE, NL, ES, IT, PL, DK, SV, FI, NO and RU.
Legalisation in the US and Canada has made this vertical bloom, and the rest of the world is watching. Now, you can help people outside of North America take advantage of the Cannabis Craze with their 3 new offers.
- Cannabis Craze – “cannabis is the new gold” angle
- Green Millions – “make millions from cannabis” angle
- Cannabis Profit – “cannabis healthcare revolution” angle
You wouldn’t want to miss out on a golden chance to pocket some money, would you? Then ask for Golden Profit. This is a great angle for targeting more conservative investors!
Perhaps you prefer liquid gold? In which case, you can help people trade oil using Oil Profit.
GENERAL TRADING OFFER!
There are a lot of people out there who would love to start trading, but they just don’t know how. So Converting Team has created a GENERAL TRADING OFFER to help them get started and it’s called Market Master.
Get on the craze, stop waiting and…
Turning 30+ Pieces of Content from Single Keynote = 35M Views
Do you have a social media content strategy in place for your brand? How do you manage your content creation and distribution?
We ask because we know it’s not a simple process to manage! And it takes long hours.
But there’s someone who constantly keeps producing a huge amount of content every single day.
And he doesn’t just produce content. Almost every inch of it is being consumed on various social media channels.
If you follow Gary Vee, you know we are talking about him.
He publishes his content on GaryVee Video Experience, which is then repurposed and distributed on various platforms like his YouTube channel, Facebook Watch Page, IGTV, Daily Podcast called the GaryVee Audio Experience, iTunes, Overcast, Stitcher, Instagram, Snapchat, LinkedIn, Quora etc to name a few.
If there is a platform to share content on, there is a 100% chance that Gary is there…
Whether you like him or not, there’s a lot to learn from his content creation and distribution strategy.
He calls it a “Reverse Pyramid” Model.
It starts with just 1 killer “Pillar Content”. Which is mostly a video in the form of a daily vlog, keynote, Q&A show etc.
This single piece of content is then repurposed into dozens of smaller pieces of content, contextual to the platforms that it’s being distributed to. A video could take the form of a podcast, textual content, images and vice-versa.
He then uses “Micro Content” from each Pillar Content episode and to drive awareness back to the original long-form content.
Here’s a complete breakdown and analysis on how he used 1 single keynote, repurposed it into 30+ pieces of content and then distributed that across social media platforms, resulting in over 35M Views.
So, grab a sit, take out that cuppa coffee and enjoy his 86-slider deck.
Let’s leave you guys at it with one of his favourite quotes: “Watch what I do, not what I say“!
Shopping Campaigns in Bing Ads
Bing Ads announced on Monday that it will now include Shopping campaigns in its Search terms reporting grid.
This new reporting grid now includes:
- Campaign type column in the ‘All Campaigns Keywords’ tab under which marketers can choose either shopping or search.
- An ‘Added/Excluded’ column to view search terms already added as keywords or negative keywords.
Well, this enhancement to Bing Ads interface is another effort at making PPC management easier for smaller brands. Especially the ones that don’t have the resources to hire marketing agencies to take care of their cross-platform PPC campaigns.
Cool tech, (funny) business, lifestyle and all the other things affiliates like to chat about while sipping cocktails by the pool.
I built this house with my hands and my… STOP!
You might not know it yet, but in the future, everybody is going to be a builder.
Yes, but we are not talking about putting your savings into buying more real estate.
Damn, we were already seeing some real estate gurus ready to pitch some courses…
No, this time it’s about our precious planet. In fact, some researchers from Australia’s RMIT University stated that we can use human waste to build bricks.
Yes, because using our poop to build bricks could be an effective way to fight the big environmental challenges we’re a facing.
“Utilisation of only 15 percent of biosolids in brick production would reduce the carbon footprint of brick manufacturing whilst satisfying all the environmental and engineering requirements for bricks.”
So in the future, to preserve our earth, we could be surrounded by… BEEEEEP!
In totally unrelated news, we’re gonna launch our own line of air fresheners…