James: And then you’ve got your ad budget which can be small, because you’re starting with a warm crowd. A hot crowd, even. It doesn’t have to be cold. Because it’s much harder to convert cold traffic. It takes some pretty special skills to do that. But why start there when you can go for the easy stuff, is really the essence of this particular episode. Right?
Ilana: Exactly. And I mean, there’s a common marketing, I guess, theory in that the person who’s most likely to buy from you is the one who’s purchased from you before. And so even if someone has come to your website and made a purchase, you’re not completely new to them.
Or even as, you know, with your surfboard guy, he just accessed his past customers, they know him, they like him, they trust him. It makes sense that they’re going to buy a different surfboard or something else afterwards.
So I guess the next stage from that is, many people might be wondering, Well, how do I know what I want to sell? Especially for e-commerce people, they’ve got a whole array of products that they’re trying to sell, and it’s very hard to think.
And often I say to people is, and really this actually applies to lots of different types of businesses as well, is focus on the 80/20. Focus on the 20 percent of the products, be it service, information or physical products, that are generating you 80 percent of your results. And just take that 80/20 approach and just focus on those bestsellers, because odds are they are bestsellers for a reason. And that’s just a really good starting point as well.
James: Yeah, it’s the first thing I look for, is like, which one is the one that sells the most, has the best profit, is like, the easiest, lowest resistance.
And again, when people are showing me campaigns, they’re going for the hotspot. Like it’s the most obvious one that is going to generate the volume. They don’t go for the fringe or the quirky stuff. Don’t try and be an artist here. Just lean into the mass market. And you’ll find it’s like a very ready, willing audience for you.
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