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The Science of Making Money Online

video tutorials Oct 29, 2020

I grew up learning from everyone’s favorite scientist, Bill Nye, so I felt inspired this week to talk about science.

Now hold up and don’t click away… I’m talking about the “science” of making money online.

So if you have an eCommerce store and you are ready for your first sales or your first $100,000 month of sales then this video is for you.

Learn how to create your own eCommerce Funnel in our FREE training series: https://www.curiousthemes.com/your-ecommerce-funnel

 


 

View the Full Video Transcript Below

I’ve been a certified Shopify Expert for over 8 years now and I wish I could tell you that making money online was as easy as wavy a magic wand and poof you have sales.

But this isn’t a Harry Potter themed video and there isn’t a magic trick to become successful.

What you need my friend is SCIENCE.

Really when you look at eCommerce success in its basic form it is a very simple formula.

You need one product people love + your ideal customer and then BOOM sales.

What that’s math not science… hold on a second.

Ok so let’s say you have two beakers…

Beaker #1 contains your winning product or a special promotion you are running.

So this can be any type of product like a handmade item, a print-on-demand design or a manufactured product like with dropshipping.

The key here is that you want to make sure it is the right fit for your audience and that you have either tested it before with your audience or you have done market research and know that it will be successful.

For our science experiment, let’s use this fun shirt on Etsy that says “Science, like magic but real”. You know we have to stick with the theme right…

From the Etsy listing I can see that this shop is getting a lot of sales and they have some great reviews for this shirt as well as their shop overall.

You could create a design like this for whatever audience niche you are in and get it up on your eCommerce store with a print-on-demand company so that they do the printing and fulfillment for you.

This is really helpful when you are just getting started because you can pick one audience niche and test multiple different designs for your product to really test and see what sells best.

Ok now in beaker #2 let’s say this is your ideal customer that you will target in paid advertising.

Well first you need to get really clear about who your ideal customer is and I’ve said it so many times on my channel already.

But if you are new here don’t skip this step!

This can be the make or break moment for your online business because if you have a great product but you are marketing it to the wrong audience then you aren’t going to get any sales.

You need to know EXACTLY who your ideal customer is when you are advertising to them online.

So their demographics like gender, age, career but also much more importantly their interests, hopes and dreams and their problems or fears so you can better speak to them and how your product works for them.

Let’s go back to our science shirt. It is offered in women’s sizes only so that narrows our gender and age down some already for us.

When I look at this product I think it is probably designed for a 30 year old woman who either classifies herself as nerdy or maybe she is even a science teacher. She also probably enjoys some “nerdy” jokes.

Oh my gosh did I just describe myself… well I do like the shirt!

Ok so now that we know who our ideal customer is for this product let’s think about how we can target them with paid ads so they actually know our product exists.

Because that is key. You could have the best product in the world but if your ideal customer doesn’t know it exists then you are never going to make any sales.

You can send traffic to your site through a bunch of different ways like social media, SEO, influencer marketing and paid advertising to just name a few.

For this example, I am going to go with Facebook & Instagram ads but there are other platforms out there too so just think about where your ideal customer is hanging out online.

If we go to our Audiences area in our Facebook Ads Manager we can build out this test audience there. So let’s click on the Create Audience button then choose Saved Audience from the list.

We can give our audience a name so it is easy to find later when we are building out the actual ads. And also you can see on the right side all the parameters we are adding in for our audience as we build it out and how the audience size will get smaller as we niche down.

Now let’s set the location for the United States for now because that is where we are shipping from. Then let’s change the age range to 25 to 40, set the gender as Women and add in the language as English because that is what our ads and website will be in.

Ok so now on to the targeting and why you need to know your ideal customer because now we can add in interests and other pages they may like.

So for our example shirt product let’s type in Science and see some different options that come up. As we scroll through this list we can add in things that could apply like their Field of Study or Industry.

We can also type in science teacher and add in some of these as well. If we scroll back up though we can see the audience size is still really huge though so we need to narrow it down further.

So now let’s click on Narrow Audience so they also have to match the interests in this field as well and now let’s add some of the more nerdy/humor interests they may have.

We can add in Bill Nye and Neil Degrasse Tyson who is a popular astrophysicist and always has the best ties. And now if we scroll back up we can see our target market is more niched down but let’s take it one step further and hit Narrow Further again.

This time though instead of adding in more interests we are going to add in based on their buying patterns because we don’t want window shoppers we want them to actually purchase our product.

To do this let’s click on browse and then Behaviors and then from here let’s click on purchase behaviors and then engaged shoppers. This means that they have clicked on a “Shop Now” button from an ad in the past week so they have more intention to purchase because they most likely have purchased recently from another ad.

So now our audience is a lot more specific which is great and we can save this to run an ad for our product later.

I want you to keep in mind that it is better to have a more narrowed down niche audience of people who are exactly your ideal customers versus having a big broad audience of people who kinda fit your market.

Because if you don’t get really specific you are going to end up wasting a lot of money with paid ads.

Ok so now we have our winning product in beaker #1 which is our science shirt and our ideal customer really dialed in with our Facebook audience in beaker #2.

So if we just combine these together… BOOM SALES

Yep science is pretty cool plus now our beaker color is green for money… did you see what I did there.

Ok so cheesy science experiments aside that is really all it takes to make money online for your eCommerce store.

You just need a great product, know who your ideal customer is and have a strategy on how you will reach them online.

This strategy is often referred to as a Funnel in the marketing world and it is a system that you can create for your eCommerce store so that you are constantly bringing new potential customers to your store, collecting their email address so you can tell them more about your brand and your products and then finally turn them into a paying customer and a raving fan.

If you would like to see more about how to specifically create an eCommerce funnel for your online store then I would love for you to check out a free video series on our website.

We walk you step-by-step through the whole process in just a few days on how to set this up for your store and again it’s totally free. So you can click the link in the description below (https://www.curiousthemes.com/your-ecommerce-funnel) to get signed up and get instant access.

Thanks so much for watching and if you liked this video don’t forget to like and subscribe.

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