Pinterest estimated first-quarter revenue considerably below Wall Street expectations on Thursday, indicating that it will face stiff competition from larger social media competitors even as the digital advertising industry stabilizes.
However, shares of the San Francisco, California-based company, which had fallen more than 9%, recovered in extended trading when CEO Bill Ready announced an ad integration agreement with Google, reported Reuters.
Ready noted that the agreement, allowing Pinterest to sell advertisements through Google’s Ad Manager, will help monetize various underused overseas markets.
Last year, Pinterest collaborated with e-commerce behemoth Amazon, which analysts predicted would drive meaningful advertising investment on the platform this year.
The report noted that Facebook and Instagram have become the go-to platforms for advertisers in an uncertain economy due to their extensive user base and greater engagement with tailored ads.
This Travel Winning Product Is Taking 2024 By Storm And You Need To Dropship It Right Now!
If you’re looking for a “game changer” product that will transform 2024 into your best year yet, then you simply cannot miss this winning product!
It’s classy, has an insane profit margin, and people are absolutely loving it with sales flying up on every platform or marketplace that this product(or similar) pops up.
In this week’s article, I am going to help you sell this product successfully and make some bank in 2024. You’ll get a full review of this product, including ad & store review, and some targeting suggestions to land on the right audience.
On top of that, there are some golden tips that will increase your selling chance so make sure to read it all.
Don’t miss out on this crazy product and start selling it right now!
The Product
This week’s Winning Product is this super cool Convertible Travel Bag that is selling like crazy on all platforms and bringing in a huge profit to its sellers.
The Cold season is still here but we’re already at a point where all the Summer vacations and future plans are being booked. People aren’t waiting for May to buy tickets to a some resort… It’s all happening right now and it’s your golden chance to use this and offer them an extra item to buy ?
Now, what I like the most about this product is the amazing profit margin – We can easily sell this Travel Bag for $69.99 and even $79.99 and pocket in a nice profit(the price on Aliexpress, depending on the supplier, is less than half of the suggested retail price).
On top of that, the quality and everything else about this bag seems great so we won’t have an issue of dealing with refunds and unhappy customers.
Now’s the right time to start the necessary preparations in order to sell this product so get to work and maybe 2024 will be your best year yet!
The Ad
Before I begin reviewing this ad, there’s something important I need to say: The product displayed on this ad isn’t the same product you can find on Ecomhunt or on the store selling it(which will be reviewed later).
It looks like the original seller is using an ad which isn’t his to use and advertising a completely different product. I strongly recommend you avoid doing the same as this seller because it can lead to copyright claims and a lot of negative feedback from pissed customers that didn’t receive the product they initially saw in the ad(even if the product on the store is different…).
Ok… Back to the ad review:
This right here is a UGC ad which, if you don’t know, translates into “User-Generated Content”. These type of ads are what people nowadays like to see the most.
Think of it as a review ad where a person just films and talks about the product in a nonchalant way, displaying all its features, and sometimes even without trying to sell it. A genuine looking video that grabs the attention of your target audience and brings you back a lot of clicks!
The good news is that you can definitely follow the same strategy and order a bunch of UGC ad videos for the same product. You can order high quality UGC videos on Fiverr for a pretty cheap price and receive ads that will get you superb clicks and sales.
You can ask them to follow the same style as you see in the ad above or make something different. Just make sure you have something in mind and don’t just “YOLO” it and let the creators have full power. I strongly suggest you copy the style of an ad that already proved to be getting great clicks and just improve it.
Ad copy:
The ad copy is perfect and I would’ve done something similar if I were to sell this product. A few sentences about the product and a call-to-action at the end. Simple, yet effective.
The only thing I would’ve changed here is to add a single sentence about the current deal or some kind of incentive to get more clicks.
For example:
50% OFF + Free Shipping for a limited time!
Free Worldwide Shipping for the first 100 customers!
The Store
As you can see, the product displayed on the store is different from what was shown just a moment ago in the ad. The bags may have similar features but at the end of the day they’re just different. I already said what I think about this so please be careful and avoid doing the same stuff as this seller…
The first issue with this store are the ridiculous fake “sales” numbers that can rival popular Etsy listings…
If you plan on installing a scarcity app and using it on your store, then at least be a bit more realistic. Customers aren’t what they used to be 4-5 years ago and these tricks don’t work the same as they used to. In my opinion, it’s better to keep the page clean and use some sales timer that doesn’t look to spammy.
The bar also isn’t the best because it is a complete nonsense.
The “9% items left in stock” is a stupid way of saying “a few items left, hurry and order yours now!”. And of course, looks like the store was built by someone who could definitely use a few English lessons. Again, as I already said, if you’re having a hard time setting up scarcity then it’s best to keep it clean.
The second issue I have with this store are the quantity discounts
The whole point with bundles and quantity discounts is to tempt the customer to take more than one unit of the product you currently sell in order to make more profit.
If the discounts are bad, then no one will be tempted to take the deal… And this is exactly what we see in this case. The 5% discount for 2 bags is just bad and the chance of this quantity discount actually working is close to zero.
On top of that, I would suggest not using bundles or quantity discounts at all when selling this product. I simply don’t see too many customers looking to buy more than one bag so it’s better to invest in a post-purchase upsell where you can offer a different product from the same niche.
It can be maybe a nice travel pillow, or a rechargeable shaver for men, etc. Think of something that people need when traveling and test it out as a one-click post-purchase upsell.
The third issue I have with this store is the You Might Also Like section which I hate with all my guts!!
Why would someone who just clicked on your ad to check out and buy the travel bag be interested in a unicorn lamp? Or in this purple thing on the left?
A lot of new online sellers think that they’re going to be the new Amazon and people will be adding bunch of random stuff to their cart and checking out. But in reality, this isn’t going to happen because our way of operating is different from how Amazon or other marketplaces operate.
We get people from Facebook or TikTok, where they had absolutely no intention of buying anything, and bring them to our store. How did we make that happen? By showing them something they might need and simply playing on their emotions. If we did good, then we’ll get clicks and sales. If we did bad, then it’s nothing.
So if you want to get sales, make sure to not confuse your customers with random stuff and let him focus on the product they saw in your ad. This way you can guarantee a fast sale and maybe some future sales because now you have a customer and it will be much easier to sell him some stuff again.
And the last issue I have with this store is the review section
They do have reviews for this product but there’s not much and just a single photo review. I recommend importing at least 20~30 reviews from Aliexpress and making sure you have some good photo reviews to display as your most recent reviews(or just pinned reviews).
Reviews can drastically increase your store’s conversion rate and get you many more sales for the same amount of ad spend. It’s been proven to work and I strongly suggest you do not advertise a product without having reviews on it(If there are no reviews to import, then of course there’s nothing you can do about it so you’ll have to proceed otherwise).
The Checkout
First things first, as you can see from the screenshot above that this store is using a one-page checkout instead of the regular 3-page checkout. The one-page checkout was made available for all stores not so long ago and it provides a much better conversion rate than the old and slow checkout.
Make sure to enable the one-page checkout on your Shopify store if you haven’t done that yet!
As for the checkout, I only have 2 issues with it:
The missing logo – You want your logo to be both displayed on the main page and on the checkout page. You’ll have to upload it twice so make sure to do it. Having a text as a logo makes your store look unprofessional.
The Shipping insurance charge – I wouldn’t risk losing a customer over a $2 charge. Customers hate all these small fees and stuff like that can simply push them away. The profit margin is high and there’s no reason to be this greedy…
Also make sure to check your shipping settings before pushing traffic to your store. This way you can avoid doing mistakes such as you see on this store where a customer has a better free shipping option but he has to click on it to receive it.
Targeting Suggestions
It looks like Facebook has truly blessed us with an interest which gives us people who are actual Frequent Travelers. This is great because we won’t have to look and combine different interests to get to people who need this bag.
This will make it much easier for us to sell this product and you can definitely start with the combination that you see above. You can even go broader by removing the Booking and Airbnb interests and just leave the Frequent travelers.
Also, there’s a Frequent International Traveler interest that you can use. Combine it with some popular hotel names and travel companies and you should be good to go.
Note: This bag is unisex so there’s no need to pick a specific gender. Although… If it were me, I would try and target men and women separately to see if one option is superior. I just have a feeling that there will be more men interested in this bag than women.
To Sum It Up
This Travel Bag can be that one product which will take you from zero sales to 4, 5, and maybe even 6 figures in sales. I truly believe that this product can be a game changer in your Dropshipping game so make sure to test it out!
And just one last tip: A one-product store can be just the right thing for this product đ
Happy Selling!
Struggling to find good products to sell? Not sure whoâs your target audience? Tired of losing money on products you were sure were âwinnersâ?
Then Ecomhunt is what you need! Find hot winning products that are added daily, spy on their ads & stores and import them into your store in 1 click and Start Selling Today!
Snap fell 31% on Wednesday after fourth-quarter sales fell short of Wall Street expectations.
According to the Reuters report, Snapchat has difficulty competing for advertising dollars with heavyweights like Meta and Alphabet.
The Snapchat owner’s losses contrast with rivals’ strong advertising sales, indicating that advertisers opt for larger, more reliable companies in an uncertain economy.
According to the report, Jasmine Enberg, principal analyst at Insider Intelligence, said, “Once again, Snap’s results have disappointed investors. “
Meta’s advertising sales increased by 25% during the holiday quarter, Alphabet’s Google’s ad business climbed by 11%, and YouTube’s ad sales increased by 16% during the same period.
As a result of TikTok failing to reach an agreement to renew licensing rights with Universal Music Group last week, the removal of its songs has drastically damaged the use of TikTok with many popular songs being muted.
“By walking away from one of the largest global platforms for music discovery, UMG is gambling that TikTok will crawl back to the table with a better deal â and itâs left a void of soundless viral clips in its wake,” reported The Verge on Monday.
UMG claims it removed its music from TikTok because the internet behemoth gave musicians a lousy deal, even by the low standards that streaming services like Spotify have already established for royalty payments.
In a lawsuit, the US Justice Department and a group of states filed against Google accuses the company of abusing its dominance of digital advertising technology.
A US federal judge on Monday set the start date for a jury trial to September 9, 2024, reported Reuters.
The complaint, filed in January 2023, accuses Google of monopolizing the digital advertising business and stifling competition. The government believes Google should be forced to sell its ad manager suite.
According to the report, Google rejects the argument and says that if the lawsuit succeeds, it would “slow innovation, raise advertising fees, and make it harder for thousands of small businesses and publishers to grow.”
Neck Reading LIght. AliExpress, Bougielb light Store
A neck light is precisely what it sounds like, a light that rests on your neck.
Most types are U-shaped, with an LED lamp at the end of each arm, according to an article published on The Verge, touting these gadgets.
The product can be found on Ali Express for a couple of dollars. One such store is the Bougielb Light Store. It is a hands-free, portable, rechargeable USB book light.
The lamp hangs from your neck, and the light is adjustable.
Social network advertising in the United States will total $82.89 billion this year, $7.81 billion more than predicted in Q1 2023.
According to an October 2023 Insider Intelligence/eMarketer forecast, the social media advertising forecast is higher than before, thanks to increased ad loads, a concentration on lower-funnel ads, and an improving advertising economy.
Some of this optimism stems from Meta and TikTok, both of which have been improving their advertising operations.
However, according to the report, social media advertising has hurdles, including issues with user growth, time spent, and driving CPM growth for short-term videos.
TikTok appears to be rewarding creators to begin publishing horizontal movies longer than a minute, according to a prompt observed by @candicedchap and @kenlyealtumbiz.
The platform promises to “boost” the videos within 72 hours of uploading. Creators who have been on TikTok for over three months will be eligible for a viewing bump as long as their videos are not advertisements or political campaign videos, reported The Verge.
“The YouTube-ization of TikTok has been happening for a while,” noted the report, adding the platform is now testing 30-minute videos, just a few months after boosting video lengths up to 15 minutes.
For monetization reasons, the report added that most YouTube videos are 10 minutes or longer instead of the bite-sized content popularized by TikTok.
Retail media ad spending will account for more than one-fifth of overall US ad spending by 2027, according to an Insider Intelligence/eMarketer forecast.
Through 2027, social media will remain the second-largest ad channel, albeit by a narrow margin. According to the projection, retail media ad spend is expanding faster than search or social.
Retail e-commerce includes Amazon, Walmart, and eBay. According to Insider Intelligence/eMarketer, search ads will steadily grow and become the biggest ad spend channel this year.
Torchbanks estimates that more than one-third of e-commerce enterprises use the drop shopping approach, as reported on Alibaba.com.
Interestingly, an article on Alibaba’s website promotes dropshipping from the Chinese supplier platform. While many associate Ali Express with drop shipping, it is possible to drop ship from Alibaba suppliers, cutting out the middleman.
Experts estimate that drop shipping will be worth $500 billion by 2027, according to Shopify.
Dropshipping is a business concept in which retailers accept customer orders and then forward them to suppliers for fulfillment. With dropshipping, businesses sell a product by purchasing it from a third party, who then sends it to the client.
Dropshipping lowers the cost of starting a business because you do not need to invest in inventory.
One of the disadvantages of dropshipping is that you depend on the supplier to deliver the product, so strong communication is vital.
Another issue, according to the article, is that dropshipping has become highly competitive. Therefore, choosing the right niche and finding a good supplier is critical.
