Growth Hacker’s Digest – Edition 31
For the first time in the longest time, I had a guest expert appearance!
At Kurt Elster's Unofficial Shopify Podcast, I talked about Facebook Funnels and Growth Hacking. I share why many eCommerce shop owners get mixed results in Facebook Ads and shared different approaches to fix that.
Beyond that, here's some cool articles I have for you this week:
- E-Commerce is a Bear - Andy Dunn
- 5 PPC Secrets I've Discovered After Millions of Ad Spend - Jonathan Dane
- What We Learned Analyzing The Top 1% Of Scroll Box Pop-Ups - Sean Bestor
- How LeadPages Uses Influencer Marketing To Grow To 25k Customers - Dave Schneider
At Growth Hacker Kit:
Facebook Funnels and Growth Hacking (with yours truly!)
Discover how I do my research, how I craft my custom audiences, and the parts behind a solid Facebook Ads Funnel to boost your eCommerce sales.
Blog Posts of Note:
E-Commerce is a Bear
by Andy Dunn
In light of Unilever's acquisition of Dollar Shave Club for $1 Billion, I just wanted to reflect a bit on which eCommerce business models are viable and which ones aren't.
In this classic 2013 medium post, Andy makes the case that eCommerce sites that house 3rd party brands are in a winner-take-all market. That's because it needs to meet critical mass before it can even be viable. And it can't achieve that level without killing all other competitors AND growing as fast as possible before funding runs out.
Even in Asia, where the industry is dominated by Lazada and Zalora, they still have not reached critical mass. Zalora's net loss reached ($105 Million) in 2015.
So yes, the traditional eCommerce industry is a bear.
But that doesn't mean that you can't carve out a niche.
Using A.G. Lafley's model, there are two strategies to win in market: either win via cost, or win via differentiation. Amazon takes the cake for the low cost approach. For eCommerce differentiation, Andy shares 4 potential paths to achieve that:
1. Proprietary Pricing (Gilt Groupe, One King's Lane)
2. Proprietary Selection / Curation (Nasty Gal, ModCloth)
3. Proprietary Merchandise (Bonobos, Warby Parker)
4. Proprietary Experience (Rent the Runway, BeachMint)
Ben Thompson notes that the Dollar Shave club is a mix of proprietary experience and proprietary merchandise. It had a strong worldview against Gillette's over-engineered razors and it has a tight partnership with Korean manufacturer Dorco.
With the acquisition this week, DSC has set the precedent for future valuations among eCommerce businesses that follow the differentiation model.
5 PPC Secrets I've Discovered After Millions of Ad Spend
By Jonathan Dane
One of Jonathan's best PPC tactics is to use Single Keyword Ad Groups (SKAG). What that means is that for each ad group, you only assign one keyword. Sounds weird, right?
But picture the situation where different search queries trigger the same exact ad. Would that look like a relevant ad to you? (see below)
Compare that to a situation where different search queries trigger different yet relevant ads. Now would that look more attractive? (see below)
Can you now see why that will drive higher CTR%?
Now I understand the cons: yes, it will require making a LOT of ad groups and a LOT of ads.
But here's the deal: Google AdWords works by using an auction bidding model with keyword relevance. You can't afford to not do this.
Here are the cliff's notes:
1. It should appear at the lower right
2. Make it appear once the visitor has scrolled through 47% of the page
3. Show an image
4. Use a light or bright background
5. Describe the offer in the headline
How LeadPages Uses Influencer Marketing To Grow To 25k Customers
By Dave Schneider
There were 4 legs to LeadPage's influencer marketing strategy: giveaways, webinars, guest posts, and podcasts. Dave's list is pretty thin; so I'm complementing this article with these guides:
- How To Get Interviewed On Top Podcasts In Your Industry: Link
- BeardBrand’s Huge Growth With Gleam (Givaways): Link
- How to Create an Online Sales Funnel with Webinars: Link
- Advanced Guest Posting: Link