Working Nation Video: https://www.youtube.com/watch?v=ux2_Y-qC8aM
We need to help everyone to be prepared for the difficult transitions coming very soon! We need to move away from the greed and excess to focus on helping people before more and more slip to the wayside.
MEMBERS ONLY VIDEO: https://vimeo.com/222800058
In this video, you’ll see Dan scale up an existing FB ad campaign from $15 to $18 using the 20% adjustment. Even though Dan makes a ton of money he still tests products with a $5 daily budget for three days using three ad variants for each product being tested. I add some background narrative for the newbies and a video clip of Tomas’ Shopify store performance before he sold it for a lot of money to a Chinese manufacturing company.
Example: Cost of “properly” testing 10 products at a time
- Testing audience interest at $5 a day for 10 products using one FB ad variant for three days would be $5 x 10 x 1 x 3 = $150.00
- Testing audience interest at $5 a day for 10 products using two FB ad variants for three days would be $5 x 10 x 2 x 3 = $300.00
- Testing audience interest at $5 a day for 10 products using three FB ad variants for three days would be $5 x 10 x 3 x 3 = $450.00
Note that you can do just one variant instead of three for each product being tested, it just that from experience from the pros like the girl in Australia have shown that FB will help you find your buying audience better and faster if you spend more money testing with three ad variants.
Example: Cost of testing 10 or more products at a time with one variant
- Testing 10 products, $5 x 10 x 1 x 3 = $150.00
- Testing 15 products, $5 x 15 x 1 x 3 = $225.00
- Testing 10 products, $5 x 20 x 1 x 3 = $300.00
Note that spending more money on testing does not guarantee that you will get make a ton of money. In fact, I have met people who had the resources to spend thousands of dollars on FB ads that did not get a good return. They actually lost a lot of money because they either did not budget correctly or they did not test correctly. You can even test with a $1 daily technically, you just won’t generate the data as quick. Test, research, test again, make the return on investment.
—————————–FOR NEWBIES STILL ON THE FENCE WITH ECOM————————–
Patient people can spend $2000 on FB ads spending and get back $20,000. Impatient people can spend $10,000 on FB ads and get only $5000 in sales results. You need to test, test, test properly, then execute everything else perfectly. Like setting up your Shopify store with trust badges, social proofs, etc., setting up your Facebook page working it up to at least 1000 likes with good engagement on most of your posts with negative ad filters protection, setting up your product pre-sell page on your blog, setting up your email sequences for abandoned carts audience, email sequences for your buying retargeted audience, email sequences for your newsletter audience who did not buy but at least clicked on your FB ad who reached your squeeze page or landing page, setup the email collection process and email sequences for people engaging with your contests and giveaways to build one of your many segmented mailing lists for people who want your stuff for FREE in exchange for their valuable personal information like their real name and real email for surveys and buying interests, provide excellent customer support with real, no questions asked returns after 30, 60, or 90 days etc., etc., etc.
It sounds like a lot of work and it is, but the difference of doing eCommerce to making a living versus working as a systems engineer in-corporate-Merikha are 1) you can’t automate your administrator job to go on vacation or spend more time with family and friends [using your smartphone with fancy APIs and JSON calls is not that secure for managing networks], 2) you can’t scale your administration efforts to make more money [you can hire a Chinese guy for $5 an hour to technically doing your job from another country, it is just hard to explain to executive management when a 3rd-party pen-tester discovers your non-compliant activity] in fact you will most likely be locked in a salary (no promotion and no 2% annual salary raise) and work 50 hours a week or more because the IT department was denied a budget increase (AGAIN) in hiring more IT-people to help with your job, (goodbye weekends, hello bitchy spouse [men can be bitchy too] and wired, unruly kids because ‘mommy/daddy didn’t spend enough time with me‘ [which will likely lead to drugs, juvie, teen-pregnancy, you know that road]) compounded by having your requests for vacations declined because you’re too important to take a break from fixing the broken network that no one wants to spend money fixing because it is not high enough on the list for mission critical business expenses [WTF?!?], 3) there is no such thing as job security with the emergence of artificial intelligence and nanorobotics. You can be replaced. Or your company can simply be bought out altogether during the early morning hours of an Aloha Friday and you just have no job to go to because US marshals have been asked to lock down the floor you just happen be on that morning.
With eCommerce you only need to figure out what the First World Country consumer wants to buy [which can be done using FB ads testing and research] because they [the poor First World Country consumer] have been programmed to work hard, buy cool stuff, so they can be happy. If you are not happy, work harder to make more money, to buy cooler more expensive stuff, to at least pretend that they’re happier. Everyone had bought into the “American Dream” and the human species are suffering for it. I have old IT friends working in Silicon Valley who are CEOs and VPs of awesome companies that work all the time, take the two-week European or South East Asian family vacation, only to wish they didn’t have to go back to working really hard all the time but are locked in for life because they don’t want to give up the cool stuff not for themselves but because they have families that have gotten used to having the cool stuff that they post on FB and take pride in telling everyone the cool title mom or dad has. Then there are people I know that are happy working two jobs, as a university assistant/gopher and making French friends at mc-awesome-job. They don’t have a spouse and don’t have kids. They are free to do what they want to do with their Cisco network certifications.
One more thing, if you don’t do it someone else will do the eCommerce thing making it that much harder to get into if you choose to make that commitment later down the road. The cost entry to participate is at an all time low. Buy in now. The whole Amazon-Ecommerce-Internet thing with not stay this way forever. The practice of arbitraging products will eventually be heavily regulated if more thieves and scammers steal and piss off enough consumers that it has to be regulated. Facebook will charge more to participate in their ad program when larger brands start really putting in more advertising money. By then, it will be too expensive and too complicated to benefit from participating. You will have a similar chance of starting a small, successful business as an LLC or sole proprietor and you already know the stats on that success rate.