#AskFredLam Show – Episode 025 | The 3 Shopify Niches Idea and Crazy Q&A
Deprecated: class-oembed.php is deprecated since version 5.3.0! Use wp-includes/class-wp-oembed.php instead. in /opt/bitnami/apps/wordpress/htdocs/wp-includes/functions.php on line 5049
Last night on my #AskFredLam Show Episode 025, we talked about how I could help you guys move you to the next level with your business.
How to do we get more engagement from your customer list?
Value – You want to provide value to your e-mail subscribers. Customers are customers, but you need to provide them value, so you could build a relationship. Create valuable content in your emails and you will build with your customers! You can’t keep asking them for money!
Alright, here are some Q&A with timestamps for reference in case you wanted to hear more!
[7:17] Dennis ask, “Not doing good in my niche yet. Is it okay to sell products out of my niche that are doing very good elsewhere?”
I’m always a fan of niche store. Niche store is always what I basically, where my focus always are. That’s what I always teach but, at the end of the day, if you want to go after a general market, a store or basically a flex store, it is fine. However, one thing that you absolutely need to know and to understand is that you need Pixel Bay. Pixel Bay is one of the app that me and my company created where you can actually make your pixel a lot smarter…. More in the video.
[9:25 ] Carol ask, “I want to do a flex store.”
Again, a flex store is basically a store that sells both maybe a mouse and a credit card knife. That’s what a flex store is. It’s selling more generic stuff and it’s going over basically selling all kinds of products. “Do you recommend that they are good as niching way down. Again, you want to niche away down with Pixel Bay because it gives you the ability to do so. More in the video.
[9:45] “Do you recommend that they are good as niching way down?”
Again, you want to niche away down with Pixel Bay because it gives you the ability to do so. More in the video.
[10:02] “I’m thinking about finding one product to promote in a niche and doing the same in a few other niches that may have somewhat similar audiences. Then, find one product to sell at a time while adding other products in my flex store like 25 products in each. Is it a good plan?”
Is it a good plan? I can’t guarantee you anything because what really makes you the profit, what makes you the revenue is actually the selection of your product. That’s why you have to make your Facebook pixels smart. You’ve got to basically let Facebook know exactly, “Hey, I want to only go after my customers or basically a customer similar to people that will most likely buy my mouse.” If you’re doing that and that’s fine. More in the Video.
[11:35] Jonas said, “What would you say is the absolute best niche?” Here are some niches that I recommend. I’ll type it out, too. “Fred’s recommended niches.”
Okay. Here are the ones that I would actually recommend that would do really, really well. First of all is consumer electronics. I’m not saying sell a computer or sell a laptop. I mean selling interesting electronics. There’s one that’s selling really, really well right now, which is an LED light bulb that can actually play MP3. Those kind of consumer electronics. More in the video.
[ 15:30] OCGirl75 asks, “How can we get more traffic to my site, like for a jewelry site?”
One thing that you need to know. When you’re selling in the jewelry market, I have a thing called chasing the market. Obviously, I can’t cover a lot today. One thing that you need to know about the jewelry market is that you need to absolutely use flex targeting because let’s say for a piece of jewelry, you don’t want to sell a generic jewelry. You want to actually sell maybe a cat necklace, an elephant bracelet, a turtle anklet. You want to tie with something because if you go after a very generic piece of jewelry, it’s not going to work because you’re reaching so big of an audience and there’s so many different designs of necklaces and bracelets and anklet, your main one that you advertise may not be the one that will sell really, really, really well. More in the video.
[ 16:58] Merlin said, “How long does it take for the typical business to be profitable with your business model for Zero Up?”
I’ll be very upfront and be very honest with you. Some people start making money in a few days. I mean profit. Some people may take a month or two in order for them to make a profit. Some people may take a couple weeks. It all drills down to your product selection and making sure if you are running your Facebook ads correctly in order to you to actually see profit or not. I don’t have an exact date that I can say, “Well, if you go after Zero Up, if you go after my training and in 30 days, you’re going to basically be in profit,” I cannot guarantee that. There’s not a single person on the internet that can guarantee you this because, let’s be honest, every person’s business is different. More in the video.
[18:09] “Do you create a discount code on Shopify and use the same discount coupon on RetailMeNot and other coupon site?”
Yes, you do. Yes, I recommend that.
[18:29] Michael Newbie, “I have a lot of traffic to my site but with no conversion. What can I do differently?”
That’s a really great question. Now, if you have a lot of traffic going to your site but you’re not getting conversions, it’s really about a couple things and I’ll write them up. Let’s see. A lot of traffic but no sale. Number one. Decrease your price point because honestly, a lot of people went to your site and they may be interested in buying your product but when they see the price point, they leave. You’re getting a lot of traffic. They’re interested in your product but they’re just not buying because they may see that, “Well, it’s more expensive than I had thought.” That might be one. More in the video.
[21:47] Matt, “Fred, any tips of manual bidding?”
Okay. I’m not sure if I covered manual bidding before in our group but scarcity tactic? Yeah. Scarcity tactic. There you go. When it comes to manual bidding, here’s one thing that you need to know. There are people that are doing really, really well with manual bidding online right now when it comes to Facebook ads but those are the people that can afford a higher cost per acquisition than what Facebook recommends because let’s be honest. At the end of the day, when it’s drilled down to the core, Facebook is really just an auction area. Whoever pays the most money plus have the best app relevancy in the app score will win the position. More in the video.
[23:37] Jeanette asks, “Hi, Fred. I want to branch out to POD. Do you know trust site suppliers I can check out to partner with?”
Very great question. One that I would recommend you is Custom Caps. They’re amazing. You want to take a look at them.
[23:56] Acolyne ask, “PayPal blocks/holds the funds and accounts of people who drop ship, right? And I can’t use Stripe because it is not supported to my country so do you suggest we find another solution?”
At the end of the day, PayPal doesn’t block or they do sometimes hold funds because you’re a new business. They don’t really block an account if you’re doing drop shipping but one thing that I do have to say is if you want another solution, look at Authorize.Net. They’re pretty good one, too.
[24:30] Prius says, “Fred, for those not in the US, what payment gateway other than Stripe would you recommend on top of your head?”
PayPal always. PayPal is going to be the best one.
[24:44] Lou said, “What’s the workaround? This Facebook Microdata update that made many apps tank?”
Let’s face one thing, Facebook always make updates. They only make updates for the better. If your apps are starting to tank, what I would suggest you to do is to clone the campaign and rerun it from scratch. That way, it resets the algorithm. That’s what I would do.
[25:27] Amber asks. “I have two questions. How do we make money from viral video views without selling any physical products from sites?”
That’s a really good question. How these viral video views people actually make money off of is two ways. I’ll write it up for you. For viral video views, profit ideas. Okay. Number one is run a custom audience list off of Facebook and advertise a relevant product to those who watched the video. Another thing that I would do. This is not going to be eComm specific. It’s very simple is to run, have a length in the video, post text and send them to your website with more viral videos. That way, you can actually make money from advertisements. AdSense love these kind of sites so that’s what you can do. (More in video)
Your second question, “When we make money from Facebook ads, how do we get it back in our bank account from Facebook account instantly transfer automatically?” Basically, you’re talking about, if you basically have ad spots in your video. That’s something new that I don’t really know a lot of and I know a lot of people aren’t … People aren’t making money on this, insider and everyone, is have 15 second ad spots in your viral video but to answer your question, I seriously don’t know. You’re going to find out from Facebook. I seriously don’t know about it. I’ll be up front about it.
[27:59] Marbelle asks, “Hi. My ads have a lot of good comments and a lot of likes but no sale I’m doing.”
Marbelle, one of the thing is, out of curiosity and I see a lot of people having that, too. Fred’s answer to this is, “Are you running website conversion ad?” Because, if you’re running post-engagement ad, you will get a lot of people commenting on liking your pad but not really buying because you are not going after the buyers’ market. You want to make sure that you’re going after the website converters or not. More in the video.
[29:56] Mary asks, “How do you set up the shipping table?”
Here’s one thing. If you have Zero Up Lite, which is my 10-part free video training series on trading your business online, especially for eCommerce store, I cover all this. I’m actually surprised that you are asking me this question because obviously, I have those already covered inside Zero Up Lite.
[30:51] Victor asks, “Besides eCommerce, what other internet business do you recommend that require little or no upfront investment just like drop shipping but requires just seriousness, hard work, and dedication to achieve success? I’m ready to put in the hours. If you recommend what size platform video individuals or forum that can help me with this, I would be grateful.”
Let me tell you for a fact. Every business require an investment. There’s no doubt about it. Putting in hard work and putting in time, it’s a bonus but you still need to put in investment because listen, this is still a business and with the internet right now with eCommerce, obviously it is the easiest for you to get started but at the same time, you still need to actually have some money for ads. There is an investment. There are two I recommend, more in video.
[33:22] Daniel said, “Fred, what’s a sure way of know your product isn’t generic? I’m finding it difficult to distinguish.”
Let me see if I can actually figure out example. Have I ever talked about the candied apple analogy? Put one in the question box. Put a two if I never talked about it. I actually never talked about it. I guess I left all the good stuff inside Zero Up. That’s why. More in video.
[35:53] Paul, “Do you think we would stick to the higher priced product niche?”
Here’s the sweet spot when it comes to Facebook ads. When it comes to Facebook, the sweet spot price point for products, it’s from obviously free to $50 max. What I’ve been finding a lot is around 20 to $30 is a good magic number if your product perceived value is there. Twenty to $30 is amazing. On average, Facebook right now is around $50. That’s what it is. For me, I would love to stick with that kind of price point, not super high but higher than the regular traditional tripwire and all this other stuff. More in video.
[ 37:13] Todd asks, “What automated email sequences do you use in your eCommerce business?”
I actually cover a lot of that inside of Zero Up. You want to actually build a relationship, introduce yourself. You want to give up content, tying it with your product, have promotions. These are five main things. You cycle it around. You want to give content. You want to suggest a products. You want to basically create a relationship with them.
[37:50 ] Mitch asks, “Should I do engagement to my shop or product with Facebook ads before I do conversion campaign?”
My answer to you is no. I would just strictly stick with website conversion because Facebook will actually go after those pool of people that would most likely buy products off of Facebook. That’s what I would suggest to you to do.
[ 38:08] John asks, “Is there any other supplier other than AliExpress we can use for a Shopify platform?”
Doba is another really good one that you want to look at. They actually just released an integration with Shopify right now so Doba. They actually have a lot of US suppliers in the US on that. You can actually go after that.
[38:33] Paul asks, “Hi, Fred. I am selling into the US but I am getting period from the world. Should I set up the rest of the world shipping table?”
Absolutely. You should have done that on day number one because hey, you are running an online store. You’re running globally. Why do you want to leave out the rest of the world when those rest of the world actually want to buy your product? Just to make sure that you set up the shipping table correctly and that is good.
[39:13] Ashma asks, “How do I narrow my audiences? For example, flower foam cases.”
You want to go after … Basically, if you’re selling an iPhone 7 fire cases, then you want to go after people that love flower and flex it down and basically narrow your audience down with people that are basically owning an iPhone 7. That’s what you want it to do.
More questions in the video!
What are #AskFredLam Shows?
Every week on #AskFredLam, I will give away $500 Zero Up™ Funds to a lucky viewer to get a jump start on your business! Also, I don’t like people being late for my show, so with that, I am rewarding a lucky viewer who shows up early and on time for my #AskFredLam Show, $100 towards your business!
Congratulations to my early birds, for attending #AskFredLam Show early!
Congratulations to the 2 individuals with this week’s Zero Up™ Funds winner!!
*Quick Disclaimer: This is not a scam! I’m literally going to give anywhere between $100 to $500 every week to a serious entrepreneur to kick-start their business. ONLY ONE CANDIDATE PER WEEK! This funding is not a loan or a loan from a bank. There’s no interest and no payback. I’m just going to hand you up to $500 with no strings attached.