Read Millionaire Fastlane
- May 9, 2016
Thanks @Nik Krohn.I am hoping either @Andy Black or @nzott may be able to help me here.
I have been trying to run a successful AdWords campaign for my product (e-commerce site selling physical product to mommies). My AOV is $19 (roughly 2 units) but I can't seem to get conversions cheap enough to justify spending in adwords.
I am dying to have a consistent budget towards the site to bring in more consistent revenue but it just is not working.
I know that is really vague but do you have any suggestions?
Great progress @nzott . Keep crushing it!
I have an ecommerce site as well, but haven't been able to figure out adwords with it either. It's taken a back seat and I literally spend 0 hours on it now.
In regards to paying for traffic, It will depend on your conversion rate and AOV (As you probably know). If it's 20%, then you'll find a ton of profitable marketing routes. If it's currently only 1-2%, you'll have a far tougher time going that route for most keywords/products.
Hustle at this stage as much as possible. Send some samples to popular blogs in exchange for a review. Depending on the product, this can be huge. Youtubers, Bloggers, Instagram influencers, whoever you can get your product to. Put your product everywhere imaginable. Ebay is a super cheap option to get some steam. Include a postcard with every shipment that provides a discount code for a re-order on your website. Amazon and Bonanaza are others that you can make some headway on. If it's a "custom" or "hand crafted" type product, even Etsy can be a good option. Create some unique craigslist ads and post your products on local selling sites. It not sexy or cool, but the goal is just to get the product into as many hands as possible by sheer hustle, not overspend. I'd be running all of these channels in unison, while I tested my website copy to increase my conversion rates. Only then would I pay for traffic.
The goal is to create a trickle that develops into a small flow from each of these avenues that together add up to a flood of highly tailored traffic to your website that'll convert higher than usual.
The only reason I can justify ad overspend in my local service business is due to recurring revenue. The lifetime value of a recurring client to me is $1500-$2k. That gives me a lot of room to screw up and test different advertising routes. I found that to be far tougher with my ecommerce site.
So while I wouldn't take advice from a guy who's ecommerce business is his red headed step child, that's the route I would take if I had put all my effort into the ecommerce business as opposed to the local service business which is what I chose to do after leaving my job.