Thread by @CTtheDisrupter

Facebook Ads Best Practices 30 Days of 30 🧵

*MEGA THREAD*

Day 26: Drop Shipping to Brand Building: How to take good marketing and getting lucky, and turn it into a real longterm source of freedom and happiness

A Series of 🧵 for #MarketingTwitter

Drop shipping with Facebook ads.
Let me tell you all the things that you're probably doing wrong.

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Let me tell you about drop shipping on Facebook and actually how to build a brand, because that's what you should be doing instead of setting fire to all the work you've ever done before.

Today's quick lesson is on drop shipping and not only just drop shipping, but how to use all this stuff that we talk about to build a brand, because that's what you should really be doing.

It is far far more difficult to be successful over and over and over again, by selling one more and one more and one more trendy product. It is far easier to make a ton of money by building a brand.

So let me tell you the few things that you're probably doing wrong and what you can do right now to fix it.

And this is just coming from somebody that has helped a lot of people make a lot of money. We're talking well into the millions for a lot of individuals.

So let me help you out.
So, first thing, let me give you a fundamental truth.

A product is not a brand.

That's a very big thing.

Your product, isn't a brand.

It solves one need, and very often a product, especially for drop-shipper solves that one need only one time.

Meaning the value of a customer to you, after they buy from you is basically zero. You sacrifice the entire future in that entire relationship for that one endeavor. You know?

And so this is first off, one of the things that we have to stop doing right away.

Second thing that you're probably doing wrong as you're using Facebook ads to find new products.

Now, why is this an issue?

Because Facebook Ads should be built around evergreen efforts.

You shouldn't be spending money on something that in three months, you have no desire to actually be involved in, your ads should be long-term employees.

We've talked about this a lot, and I really, really want you to understand that.

Now there's a lot of best practices that I talk about and believe me, every single one of them holds true.
Whether you're building a brand, whether you have a service, whether getting subscriptions, SAAS models, lead gen, or drop shipping (cont...)

because the way that works has remained the same for years and will likely not change any time soon.

Anybody that tells you different, doesn't know what they're talking about.

If you disagree with that, I would love to know what you have to say, and feel free to tag anybody.

So getting back to the point here, when we're getting into product testing, we don't use ads to test products.
We find products that are complimentary to the ones that we've already succeeded.
And we use other tools, zero cost acquisition tools to do product testing.

Now, yeah, you can spend a hundred bucks, 50 bucks, a thousand dollars, for two days, or for a week, or for a month, or for whatever to try to see if you can find the next item or when somebody buys from me, you can say...

"Hey, look, by the way, right now, we've got three other products we think you're going to like."
You can see the suggested purchase thing inside of Amazon.
You don't have to own any of those products.
You can drop ship any of them on demand, right?

So why not let your customer tell you what other product they want to buy?
And you can let Jeff Bezos tell you which products to focus on.

That's easy.

Another touch point that you're already have, for $0 to implement, is email.
Outside of building a website, quick little lander page to sell things on the buy button.
When somebody buys from you, you send them a suggested product link inside of that receipt.

No reason you can't say

"Hey, by the way we think you'd like one or two of these product."

And there's no reason why on an ongoing basis, you can't show people

"Hey, here's extra products"

Clothing companies do this well shout out to my friends & Wicked Clothes.

They send me an email a couple of times a week. Sometimes like every day, just showing me their new products. Now, do they have those printed in stock?

I doubt it.

When somebody buys one of them, they probably make it, or when folks buy 50 or a hundred or a thousand.

I'll bet you, they put a decent amount of effort in to making a nice Lander and maybe running an ad for it.

My point is, if you already have somebody's attention for $0, you then try to get more money out of them.

That upsell can up the AOV by 100%, and it can be additional revenue and market research for you.

And I really want you to understand this now, how does this go into brand building?
Because remember a product is not a brand & we're not here to try to win a thousand times

It's incredibly difficult to win over and over and over again on an ongoing basis. And some people are good at it, but a lot of other people succeed way more people succeed by building a brand. Now, how do you do that?

Pick a niche, have a category.

When somebody buys your product, what's an additional product that they might be likely to buy. If you don't know, go to Amazon, look at the thing that you're drop shipping.

What are the suggested other products?

Now there's a reason that people are buying these together.

You can sell the 1st, product & Even if you break even... well that's Still pretty damn good

Maybe you tax a little bit on it and you say,
"Hey, and your post-transaction up. Sell, buy this product and get free shipping."

Maybe you sell that product for $5 more than your shipping cost.

That's it.

Now you're just making $5 extra on every single sale.

That person is getting two products from you.
And if you sell a whole bunch of those products

You can consider, maybe this other product is something that you want to actually invest real money on.

Facebook's already seen who the buyers are and you already know what the pain points are. And you've already been able to do the product research on it. And you've already been maybe doing landing page testing around that to try and get the conversion rate up.

So when you actually spend money on a Facebook ad.
It's more of a creative test, not a product test.

You're actually able to make money on the first day of spending any dollars. That's a phenomenally better business model. especially If all of those products are what we call "vertically integrated"...

The idea here is to say, if somebody buys one product, what's another 2, 3, 4, 5 products I can sell them.

Now the real hack is finding that type of product.

The most difficult thing for drop-shipper to do is get somebody to buy a second item.

If you can get somebody to buy a second,
that third item is really easy,
especially if your products are good

and I understand, the people are going to get packages at different times, who cares...

They'll probably in different transactions and one arrives three days before the other one, you think they're going to be upset if they like them?
No they're gonna be happy they got the thing

And you've communicated that well to them across the entire process.
So they are getting what they paid for and they're happy about it.

Now the real trick here is ultimately in building a brand, finding four, five successful products doing the one is tough, getting the second one.

That's the hardest thing.

But the third, the fourth, the that's really easy.

Once you can get people from your email and your chatbots and your upsells to increase their AOV and their LTV

You can LOSE money on your Facebook ads and STILL crush.

So when you see the next person bragging about a 5x ROAS on their store, you can laugh at them because you're no longer subjected to that extraordinary, low integrity data point.

When somebody who's insecure trying to brag about something, you're building a business

I'll tell you this.

I used to spend 30k, $50,000 a day doing this exact thing where we lost 20 cents on the dollar.
And you know why?

Because we understood that we could get 20% to 30% of those people to buy three, four more times. If somebody bought an item for 20 bucks, I knew they were worth about 250. So I could sell you that $20 item for $25, $30, $50, or a $hundred dollars.

And I would STILL make money.

That's the game that you really want to play

If you really want to level up

Then you must understand your real goal around is making this drop shipping store a brand.

By the way, all these products come from the same Facebook page, the company from the same website.

So all of your learnings are collected.
The real hack is finding somebody to sell the store to you only need to sell one thing your store.

And what do you do to sell that story?
You make it a viable product for somebody to want to buy, an investor or serial entrepreneur.

Somebody else who doesn't want to do the work,
that wants to just buy something successful from you.
And that buyout might be five, six or seven figures.
I've worked with people with that.
Their buyouts have been eight or nine figures.

So when I'm talking about being somebody that has been responsible for, nearly 10 big years of revenue, it's because we're not just selling products.
We're not just selling services.
We're not just selling subscriptions and everything else.

We're also selling brands that bring in that money.
If you really want to succeed, you got to start solving bigger problems.
I'll tell you this
The level of effort to sell a business is about the same as it is to try to get the drop shipping