Thread by @toyinomotoso

Okay, here is my response based on this post & the comments it has gotten.

I posted this for 2 reasons:

(1) To get you to think about various product & business ideas.

I will talk about the 2nd reason later on. Here is what I observed after going through the responses:

https://twitter.com/toyinomotoso/status/1332058151240208392

(i) As usual, some people don't think. Some were busy plugging in their hustle in the comments regardless if it fits or not. When will those people learn?

(ii) Many of the responses show that many people really need to update their money/business knowledge.

I mean...you were given access to an audience of 250,000 (25-40) women who have money to buy stuff and what you want to sell to them is "sanitary pads?"

Common!

Let's even forget that sanitary pad is a commodity they can easily pick up at the nearby supermarket, the main issue is how much profit do you think you are going to make from pads?

Let Me Tell You What Will Happen:

Not all the 250,000 will buy from you.

Getting access to them does not mean all will listen to you or buy what you are promoting.

Only a tiny portion of them will buy IF they are interested in what you are selling.

If your offer is really good, maybe you will get like 5% of them to buy.

5% of 250,000 is 12,500.

Companies that sell sanitary pads make money based on the huge number of sales (millions) they get.

So, if you sold Sanitary pads, you might get a net profit of N50 x 12,500 = N625,000.

And don't start saying they will buy more.

True. Some of them will.

Others will try another product if they don't like yours.

So, that 12,500 will reduce.

You still won't be able to make N2m in a year.

INSTEAD, THIS IS WHAT I WILL DO:

My choice will be to sell a product that will give me the chance of making the most money from that audience as soon as possible.

For that to happen...

(1) I will need a product that can help me convert at least 5% of that audience (Something they want or something they are already buying)

(2) A product that will give at least N10,000 in net profits per sale (Because of their income)

(3) A product that lends it self to repurchases (optional)

If I am able to convert 5% of 250,000, that will be 12,500 sales.

If the product gives me N5000 in net profit, that will be N5000 x 12,500 = N62,500,000

If the product is something they can at least 4 times a year, that will be an extra N62.5m (12500/3 x 3 x N5000)

For this audience, products that can do this will be emotional products.

E.g. Products about:

(1) Skincare (Many products go here)

(2) Beauty products (Cosmetics,

(3) Hair (human hair, wigs, hair growth stuff)

(4) Weight/fat loss (HUGE - waist trainers also fall here)

(5) Vitamins and supplements that help with the above

(6) Products that help with boobs and butt appearance

(7) Sex Toys (Don't ask me how I came about this one)

These products cater to the good feelings that women want.

Women are always looking for ways to improve their looks and skin appearance.

Of course, how you package and offer the products is another thing.

NOW - Here is the second reason why I posted this and interesting part.

--

(2) You can actually reach an audience of over 250,000 women between ages 25-40 starting from now.

How?

They are there on social media -Facebook, Youtube, Instagram and Twitter.

The only part we can't narrow down is how much they earn. But they are there.

You just need to sit down and figure out how to use at least one of these marketplaces to sell intentionally.

I said intentionally because "my customers are on your timeline" strategy won't cut it here.

Making money is simply about finding what a group of people with money want, finding that thing and offering it to them at an irresistible price.

And we have the 3 here:

Question is:

What did you learn here and what are you going to do about this?