Meta’s latest social media platform, Threads, has over 175 million monthly active users, CEO Mark Zuckerberg said on Wednesday, as the company approaches its one-year anniversary.
In less than a week, it attracted 100 million users, partly because it made it easy for Instagram users to create their Threads profiles. However, according to Reuters, some of the initial users eventually stopped using the platform.
Threads, a competitor to X, formerly known as Twitter, debuted in app stores on July 5 of last year, just in time to entice users away from X during billionaire Elon Musk’s turbulent takeover.
According to Sensor Tower statistics, users spent an average of three sessions and seven minutes per day on the Threads app last month, a 79% and 65% decrease from July of the previous year.
Because Threads does not have advertising, Meta makes very little to nothing from it, noted the report.
In a recent Instagram Reel, Instagram’s CEO, Adam Mosseri, highlighted a key metric the platform uses to evaluate content.
This indicator compares the number of users who share a post with their friends via direct messages (DMs) to the total number of watchers.
Mosseri recommends developing material people want to share directly with friends and family.
“When you’re creating content, think about creating something that people would want to send to a friend. Don’t force it, but sends are one of the biggest signals we use in ranking and can help your reach over time,” stated Mosseri.
Google Ads has revealed various changes to how search queries are matched and how marketers can manage brand-related traffic.
According to an article in Search Engine Journal, these improvements will be implemented gradually over the next few months, impacting many campaign management and reporting.
Google said the adjustments are part of its continuous attempts to improve ad performance using AI technology.
The company says new AI-powered advancements have increased broad match performance by 10% for Smart Bidding advertisers.
Google will soon include misspelled search queries with their correctly spelled equivalents in search term reports.
The report also notes that Google Ads will automatically include misspellings of words listed as negative keywords, potentially lowering the manual work required to maintain these lists.
YouTube accounted for 9.7% of all TV viewership in the United States in May, the highest share ever held by a streaming medium, according to Nielsen’s “The Gauge” report.
Netflix came in second with 7.6%.
“YouTube’s vast reach and ability to attract advertising dollars make it a formidable player in media; while traditional companies mull how to compete, its dominance continues to grow,” according to EMarketer.
Two-thirds (66%) of US individuals have used a credit card in the last year, making it the most prevalent way of credit usage, according to an April 2024 study by NerdWallet conducted by The Harris Poll.
“Continued concern for the economy may cause consumers to rely more heavily on credit cards and buy now, pay later (BNPL) services in the future,” reported EMarketer.
According to NerdWallet, 16% of customers who have used a credit card in the last year used it for needs because they did not have enough money to pay for these costs in full.
According to a TransUnion survey, 84% of consumers rank inflation as one of their top three financial concerns, a five-point increase year on year and the highest level in two years.
How To Double Your Dropshipping Sales This Summer 2024
The Hot Summer season is upon us and people are already on their way to the airport for that much needed vacation, the kids are on a Summer break, and there’s also a need to say Bye Bye to Winter clothes and Hello to Summer ones.
You already realize that July and August are crazy expensive and it’s a huge opportunity for us, the Dropshippers, to get some crazy sales going and make a huge profit in a short amount of time!
So to help you achieve this goal, I am going to give you some insane tips that will help you double, or even triple your online store sales.
If you’re struggling and barely making any sales and profit, then the stuff I am going to show you on this article might change that and finally get you some sales going and make you profit.
And if you’re already making sale, then the tips I’m about to share are going to boost your sales even more and help you make profit.
Are you ready to make some crazy sales this Summer season? This article has everything you need to make it happen!
1. Sell The Right Products!
The first tip may sound obvious to you but it isn’t that simple… Yes, you need the right products to sell in order to make sales, so if it’s Summer time then you should try and focus on Summer related products.
But the problem with this really obvious tip is that most beginners think it is enough to simply go to Aliexpress, type “summer” in the search bar, and then just choose the shiniest product from the list they get and get on selling it.
There are definitely some cool looking products that feel like they have a good chance to sell, but what else do you know about these products besides the total number of sales Aliexpress displays for you?
And this is exactly the issue… When choosing a product to sell, you need data to make a decision whether it’s the right product for you to sell right now.
Is the product you’re about to choose is trending on Facebook or TikTok? How did it perform the last time a Dropshipper sold it online and paid ads to promote it on Facebook or TikTok? What type and what kind of ad is the best for this product in order to make actual sales and not just get “likes & shares”? Etc.
If you don’t have the data I just specified, then your product choice is based on pure luck and that’s a recipe for a disaster – AKA, wasting your money on ads without getting any profit back.
“So Daniel, how do we get the relevant data to help us choose the right products to sell?”
The answer is: By using Ecomhunt where you not only get the relevant data on each product, but you also get winning products that are actually proven to sell!
This means that someone else is already making sales and all you have to do is to join in the party by getting your chunk from the sales that are already happening.
And with the additional data that you get like which ad is working the best for this product and the targeting suggestions, you’ll have everything you need to run a successful campaign that brings you sales and profit.
This method is your best chance to find success with Dropshipping as it eliminates the “what should I do to make this sell” factor. You see exactly what other sellers are doing and from there choose a similar way to sell the same product as well.
Freshen it up a bit and get your customers into the right vibe when they visit your online store. You can use whatever app that does that from the Shopify app store and immediately get a fresh, new and cool look.
These small changes help you get more sales by changing the mood of your customers, and this is a fact. Just think about it… How much less would businesses out there earn if they didn’t bother decorate during Christmas and get people into the festivity vibes?
The answer is probably a lot! Now, the same also applies to other holidays and the when the Seasons are changing. You activate a few Summer effects on your store and combine it with some sweet Summer deal, and in return get many more sales than if you just left everything as it was.
3. Find A Niche Product And Expand
Sometimes the best thing to do to find winning products to sell during the Summer is to stop and think about what people do during this Season. And by getting into their heads, you may first find a niche and only then choose a relevant product to sell in it.
Instead of just selling random Summer products (even if they’re great and proven to sell), you open up to a whole new niche where, if done right, customers will be coming back to buy more from you.
For example: Instead of importing 3 random products to your general store and selling them, you can instead open a niche store and fill it up with that niche specific relevant products.
For this example I chose the Travel niche which is something A LOT of people are going to do this Summer. So all I have to do now is go to Ecomhunt and search there for Travel related products.
This way I get the best possible Travel products to sell this Summer and I can use other products as upsells or to remarket them to my already existing customers and get even more profit.
And on top of that, your pixel on Facebook or TikTok will be much more powerful as it knows exactly what your target audience is. And that is priceless as it eventually gets you more sales for a much lower price.
People LOVE discounts, special gifts, and if you combine a small gift in that package as well then the sale is as good as done! The problem is that new sellers are just clueless on how to run these deals correctly and they are instead doing all the possible mistakes…
So before launching ads to a product on your store, here are a few tips to make the discount actually work and bring you sales:
Big discounts still work – Don’t be afraid to show some 50% OFF or even more discounts on some of the products you’re selling. It still works, it still looks great, and no one will think it is “scammy” as long as the product feels like something high quality. A lot of new Dropshippers are afraid of that and instead show a small 10% or 20% discount which are not at all tempting. So don’t be afraid to show some big discounts on the best selling products on your store.
Show the actual amount your customers are saving – It is always recommended to show the actual amount your customers are about to save when ordering. It’s not your customers job to calculate how much 70% discount is from the original price… Show them exactly how much they save by getting the product right now!
Don’t be cheap with quantity discounts – Give your customers a nice discount if they order more than 1 unit. A 5% discount isn’t that tempting so make sure to start with at least a 10% discount on 2 pieces and jump by 5% for each additional piece that your customers take. On top of that, you can always throw in a nice FREE SHIPPING discount if they buy 2 or more and that can work wonderfully.
Use a post-purchase upsell instead of a recommending a product in the description or cart page – It’s best to keep the focus of your customers on a single item and show additional product once the checkout process is already over. Close the deal first and only then offer additional products that can be purchased with a single click.
And for the Grand Finale:
Give a free gift, whatever it is that you can give for free that won’t hurt your profit too much, and your customers will LOVE you for this! A keychain, a cute little plastic ring, or even a dog’s chewing toy.
It doesn’t really matter as long as the product is received well and it can be used by the customers. This will help increase your conversion rate as your customers see that there’s a free gift included in the package…
And it may bring some of them back to buy more from you because they feel you actually give a damn about your customers.
To Sum It Up
You read till this point so here’s a quick bonus to help you get even more sales without wasting too much money:
Make sure to run retargeting ads as soon as you have enough audience to actually retargeting with Facebook ads or TikTok ads, and use some kind of abandonment protector to bring back customers that almost made a purchase.
For the retargeting ads to work well and to actually bring you back some of the lost sales, all you need is to create a new ad which will call some of your customers and ask them to complete their purchase.
It can be a simple request without any incentive or it can be one that offers an additional discount. Either way, it is not going to cost you a lot because these customers are already warmed up.
They know about the product you’re selling, they already showed some interest, so it’s your job to use that interest in your favor and try to convince them to buy from you.
As for the abandonment protector, this one is even simpler – Set up 2 to 3 abandonment emails for the customers who left the checkout without completing their purchase.
You can do that on your email marketing service provider or by installing an app from the Shopify App Store. Once the setup is completed and you have automatic emails ready to be sent to customers who abandoned their checkout, then from here it’s free money.
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!
According to Guideline, the US advertising market has increased for 14 months in a row.
The most recent data shows a 1.9% year-over-year increase in May, a slowdown following several months of greater growth.
According to an article at EMarketer, advertisers are not too optimistic despite the constant increase. Budgets are limited, and advertisers are under pressure. So, why do things feel grim despite evidence to the contrary?
“Google postponing third-party cookie deprecation in Chrome seems to have prolonged industry anxiety rather than providing temporary relief,” said EMarketer analyst Evelyn Mitchell-Wolf.
According to EMarketer’s March 2024 forecast, Google’s share of total US search ad spend is declining and will drop below 50% next year.
Google is unveiling new shopping capabilities to assist shoppers during the approaching summer sales season, responding to rising interest in online purchasing.
Search Engine Land reported that the new Google tools aid shoppers in finding deals, which will increase competition between retailers.
New deals will be shown in a carousel and organized by product categories.
“Retail advertisers might need to shift more focus towards promoting deals and special offers to appear in these new features,” stated the report.
With 44% of buyers saying deal days make them spend more than usual (according to the Google/Ipsos Deal Days Survey), these tools seek to assist consumers in finding the best bargains among stores.
Search Engine Land assessed that Google is presenting itself as a one-stop shop for finding deals, which might increase its role in the e-commerce sector.
How To Increase Your Online Store Sales With ChatGPT
According to April 2024 statistics from YouGov and the Reuters Institute for the Study of Journalism at the University of Oxford, 56% of adults aged 18 to 24 in select nations have used ChatGPT, however this figure declines with age.
According to an EMarketer forecast, “67.7 million people in the US (19.8% of the population) will use ChatGPT at least once per month this year.”
According to the forecast, ChatGPT will be used by 67.6% of US generative AI users this year. The remaining AI users could be using alternatives such as Claude or Perplexity.
“Business leaders should recognize that their employees may not be regular generative AI users yet and find ways to encourage experimentation with the tech,” advises EMarketer.
A B2B influencer is a recognized expert in a certain industry and can help a B2B company stand out in a competitive market.
According to an article at EMarketer, they are chosen based on their credibility in their sector, allowing them to be more effective than a brand alone. They may collaborate to create and distribute social media content and host events and webinars.
Influencer marketing is becoming crucial for B2B business.
“Effective B2B influencer marketing isn’t about celebrity status. In B2B, the focus is on value creation, trust-building, and collaboration,” noted the report.
Micro and niche influencers are selected because of their targeted audiences and subject area expertise. They can be both employees and customers.
