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Consumers Value Points and Rewards Over other Loyalty Benefits

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More than half (55%) of adults worldwide believe that offering points or incentive systems is the most effective approach to keep them coming back, according to a Marigold-Econsultancy survey conducted in November 2023.

According to Deloitte’s 2024 US Retail Industry Outlook, three-quarters of consumers remain concerned about rising prices.

As a result, reports Insider Intelligence/eMarketer, half of retail executives expect shoppers to prioritize price over loyalty by 2024.

“Retailers may consider bolstering their loyalty programs by giving customers more opportunities to score points or offering them more personalized discounts,” stated the Insider Intelligence/eMarketer report.

Retailers can also provide customers with special product or service discounts, which are ranked second for the most wanted loyalty rewards (54%).

Amazon Tops List of Best Online Shops in US

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According to the number of unique monthly visitors, Amazon’s website is by far the most visited e-commerce site in the United States, according to Similarweb data from November 2023.

Website visits may not always lead to sales. Etsy is fourth in visits but will account for less than 1% of total US retail e-commerce sales this year, according to a November 2023 prediction by Insider Intelligence/eMarketer.

While Amazon and Walmart compete for sales, Amazon has significantly more online visits, which bodes well for its retail media business.
In fact, all of the top five retailers own large retail media companies, noted Insider Intelligence/eMarketer.

Getting Social Media Branding Right

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In today’s market, no company can afford to ignore social media.

“Your social profiles are often the first touchpoint customers have with your organization – and as such, social media is a potent branding tool that affects brand perception, sentiment, authority, and trust,” according to an article at Search Engine Journal.

According to the article, some key factors to consider when building a social media strategy are brand identity, voice, content strategy, and audience engagement.

Brand identity comprises logos, colors, and fonts, while the brand voice is the language you use to communicate with your target audience.

Your content strategy deals with the kinds of formats and topics that are best for your message.

Audience engagement is how you interact with your followers in a way that represents your brand.

According to Search Engine Journal, knowing your target audience, including their demographics, interests, desires, and problems, is critical.

Another critical point is to know which social media platforms your target audience is present.

OpenAI Launches an AI Model that Converts Text into Video

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Microsoft-backed OpenAI is developing software that can generate minute-long videos based on text cues, the company announced on Thursday.

The program, known as Sora, is currently available for red teaming, which helps discover problems in the AI system and access by visual artists, designers, and filmmakers to provide feedback on the model, their website stated.

“Sora can generate complex scenes with multiple characters, specific types of motion, and accurate details of the subject and background,” the company said.

The existing model has flaws. It may struggle to simulate a complicated scene effectively and may not comprehend precise examples of cause and effect. For example, the company noted that a person may bite a cookie, yet the cookie may not show any biting marks afterward.

“We’ve also developed robust image classifiers that are used to review the frames of every video generated to help ensure that it adheres to our usage policies before it’s shown to the user,” it added.

Google’s AI Detects Fake Online Reviews Faster

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Google is using new AI technologies to combat an increase in bogus internet reviews, which mislead shoppers and harm local businesses.

In a blog post, Google announced its progress in 2023 against fake reviews, including blocking over 170 million bogus reviews, representing a 45% increase over the previous year.

Business owners were safeguarded against nearly 2 million efforts by bad actors to claim Business Profiles that did not belong to them, more than 1 million more than in 2022. After Google’s systems spotted suspicious behavior and exploitation attempts, they temporarily protected over 123,000 businesses.

Google stated, “We’re committed to combating fake reviews while continuing to collaborate with regulators and the broader industry on this important issue. “

Top Ways Adults in US, Canada, Mexico, and Brazil Use to Find Products

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Shopping has become more complex as it occurs on so many different types of websites and still in physical stores.

Insider Intelligence/eMarketer presented its 2024 Retail Road Map to help merchants stay ahead of the curve in today’s ever-changing retail world.

The survey carried out by PwC in June 2023 among adults in the US, Canada, Mexico, and Brazil found that search engines (54%) are the most popular channel used to research products to purchase.

Amazon and retail websites (43%) were the second most popular channels for consumers, followed by 29% who read customer product reviews on retail websites or spoke to others about the product. Social media and price comparison websites tied at 26%.

Consumers Respond Most to Ads on Shopping, News, and Social Media Websites

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Integral Ad Science data from Q3 2023 shows that in the US, people are most open to ads on websites for shopping (36%), news (35%), social media (35%), and entertainment (34%).

According to the Insider Intelligence/eMarketer report, no website got more than 36% since users are not enthusiastic about seeing ads.

Retail media search and display adverts on online stores are benefiting from consumers’ comparatively high acceptance of advertisements on shopping sites.

While consumers’ receptivity to ads on news and entertainment sites is excellent news for advertisers, it may be more challenging to convert on these sites because customers do not typically browse these sites with the aim of shopping.

Pinterest’s Poor Outlook Shows Heavy Competition for Ad Spend

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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!

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This Travel Winning Product Is Taking 2024 By Storm And You Need To Dropship It Right Now!
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!

find winning products to dropship

The Product

Convertible Travel Bag

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

Convertible travel bag Facebook 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:

Facebook 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:

  1. 50% OFF + Free Shipping for a limited time!
  2. Free Worldwide Shipping for the first 100 customers!

The Store

Shopify 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…

Scarcity Shopify

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.

Stock bar Shopify

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.

Ecomhunt's Shopify $1/month for 3 months promotion

The second issue I have with this store are the quantity discounts

Shopify 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

Shopify store reviews

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

Shopify one-page 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:

  1. 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.
  2. 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

Facebook targeting

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 😉

Happy Selling!

Struggling to find good products to sell? Not sure who’s your target audience? Tired of losing money on products you were sure were “winners”?

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!

Ecomhunt find winning products

Snap Falls as Ad Sales Behind Competition

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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.