How they are selling 700 items every day using such a simple method?
When you take a marketing course, your aim is to learn how to be more efficient with your marketing techniques and strategies so that obviously, you can start making huge sales while spending little or nothing. I can bet the result has not always been like that, yes thanks to marketing course creators who are only so much focused on making profits without offering real value on the long run.
The truth as you have most often discovered is that making even a single sale is hard, very hard and a thousand courses in marketing haven't always been the saving angel has it? The fact is life is a big teacher and the answers to most of our questions or problems as the case might be, are constantly being answered everyday by the things happening around us. One such answer is what I will be showing you today which is the results of many trials and fails in marketing before I got the right clue.
Let me quickly add that this is not a marketing post. If any brand is mentioned here, it is solely for learning purposes or for the fact that I couldn’t avoid mentioning them to give clarity to the topic in discuss. You should also know that it is only normal to make your own research and verify claims before you jump into any conclusion as regards whatever you read online. I expect that as a good marketer, entrepreneur or seller, you would make one or two findings about the two simple methods I will be highlighting in this article.
So you have probably heard of these methods except that right now, they seem awkward.
Entrepreneurs in Nigeria are making several huge sales each day using these methods combined.
It is worthy to note that this is a gradual process but when followed religiously, you might start seeing over 800 sales/day within the next three weeks.
1. Media ads re targeting
2. Maximum scaling
These methods follow the idea of setting up an advertisement for your item online, monitoring returns and scaling it as much as possible. Now wait! Don’t let me scare you away… you won’t even have to spend more than 3k (three thousand Naira for start) I found a pretty descent media ads network that won’t charge you much but will give you very huge and surprising results! We will get to that part later on.
So in the olden days when technology was just beginning to proliferate the world, advertisements was best served on physical prints such as magazines, newspapers, e.t.c. or on media broadcast services such as on radio or television. The major drawback to such advertising methods is the inability to rightly quantify your advertisement reach, thereby denying you the ability and capacity to make appropriate forecast and analysis for your subsequent advertisements. Indeed, entrepreneurs and advertisers were advertising in the blind.
Funny enough, after about two decades, you could be advertising in the blind too if you are not scaling your media ads. This means looking at the results of your previous ads and utilizing these results to generate a new, improved, adequately planned advert that will perform even better than the previous one. A quick example here. If you run an advertisement for your advanced level center or academic products, you would be naturally inclined to run this ads in the ‘education’ category or niche. Running this same ad in the entertainment category might however give better results! Using this reports, your subsequent ads should target the entertainment niche.
An even more plausible example is running media ads on several platforms and coming to conclusion what platform offers you the best ROI (returns on investment). While you are expected to make even more research on this, I will tell you that from experience, as an advertiser, Ngadverts does quiet well in this area. We can as well say the same for Facebook ads. But Facebook ads are much more appropriate if you are looking for exposure, views or you just want to promote your Facebook page. As a seller, what are views anyway if you seek to receive clicks and have your product purchased?
This is why Ngadverts, from my marketing experiments and research outclass every other form of media ads in Nigeria. For instance,
If you sell a product with a profit margin of N2,000
You can set up an advert on Ngadvert. You can set a minimum of N15/CLICK (But it is advisable to set your cost per click to at least N30 so you can receive good exposure)
Assuming your ads were clicked one thousand times with 10% of those clicks resulting in a purchase (as it usually is)
You would have made N200,000 while spending about N15,000 to N30,000 on advertisements.
Assuming you re-invest 60% of your profit into your media ads (scaling)
You would be making over a million naira in profits!
To achieve this, you must have sold at least 500 of your items with a N2,000 profit margin.
Considering that Ngadvert produces results within a short period, you could achieve this feat of 500 sales in Forty-eight hours with your marketing budget of N100,000
BUT WHAT DO YOU THINK WILL HAPPEN IF YOU RE-INVEST 50% OF YOUR N1MILLION PROFIT?
Your guess is as good as mine! You should keep scaling up your marketing this way until you reach an optimal point. This is the point where increasing your marketing budget does not necessarily lead to increase in sales. You should also try out other media ads networks even though I have given much credibility to Ngadverts. Trust me, you might hit gold. Besides a good marketer is a good researcher.
You also need to know that a good advertisement on a good media advertisement network does not necessarily guarantee sales. A whole lot other determinants are involved such as your checkout flow, your website load speed and simplicity of the whole shopping experience. If your website or ecommerce platform could be a problem, consider whatsapp selling where users that click your ads can contact you on whataspp to complete the buying process.
I need not mention that you will need a good banner too. You can simply do a google search of websites where you can make free advertisement banners but if you are tech savvy, Microsoft paint included with every windows package can easily do your banner job!
Remember to share this post to help the many marketers and sellers out there. See you at the top!