If you’re going to have a single product ecommerce business, you should make sure that the product you choose is really, really good.
But how do you go about choosing that one perfect product for your store?
Scott followed a few golden rules for his store.
“I would never ever ever sell a product that I could get at Walmart or any average store that’s around. I go for impulse buys.”
And Rule 2: “Find a product that most people haven’t seen before and makes for a good video. Especially starting off, you don’t want to start with a really boring product. You want something that’s fun.”
To narrow down his product choices, he thought first of the potential of the market. What’s something that a lot of people have? What’s something they use every day?
One product stood out to Scott. It’s something that millions of people are carrying around in their pockets and holding in their hands every day. Their iPhone.
“I chose a niche that was huge. I mean, how many people have a iPhone in this world? It’s millions,” he says.
(In fact, it’s around 90 million in the US alone.)
Thinking simply, Scott knew that he wanted his product to be uncomplicated and unlikely to break, as well as coming in at a low cost.
He ruled out electronic accessories such as headphones and chargers and focused his attention on iPhone cases.
While choosing a case, Scott looked for one that was genuinely useful, rather than gimmicky. “I saw an iPhone case that had a fake chicken nugget on the back of it. I’m not gonna be selling those,” he says laughing.
After settling on his perfect case, he did some research and found that two other major brands were selling a similar product. His initial concern melted away when he looked a little deeper and found that they hadn’t been active with their marketing for almost a year. And plus, from what he could see from the comments, people loved the idea of the product.
It was the perfect opportunity for him to come in with a new offering.
Using Oberlo, he found an online supplier for the product and added it to his store, carefully setting the price lower than the competition.
“They were selling it for $20, and that’s when Sam Walton’s book came in. They were selling it for $20, but the cost of the product from the supplier was $2-3. So I was thinking I’ll just Sam Walton them and just come in at $10 with $2.95 shipping. That gives me a profit of $10 each after.”
Next, he began designing his storefront. He chose the free Shopify theme Jumpstart, designed for businesses with a small amount of inventory. It was perfect for a one product store. He stripped it back, removing anything unnecessary and reducing his store down to a single landing page. He didn’t want anything on his website to distract from people scrolling down and clicking “Add to Cart”.
He was ready to go.
He set his site live, and immediately launched into Facebook advertising.
Scott’s first strategy was to run Facebook advertising with a fun video explaining the product. He’d set up his ad to generate engagement on the post, which generated a huge amount of likes, comments, and shares.
As people watched, they got interested in the product and clicked through to his website, which was designed to funnel them down into purchasing.
It wasn’t long before, ka-ching! His first sale.
Then came two sales. Three sales. Four.
Scott was pumped. This thing was actually working! He added more budget to his ads, hoping it would help him ramp up his sales.
But Scott’s ad strategy was optimised to get him likes and comments on Facebook, rather than a lot of sales. So eventually, despite spending more, the sales slowed down.
“I started losing money, so I freaked out and ended it all.”
Scott pulled the plug on his ads, and the sales stopped.
His four sales felt great, but he didn’t know where to go next.
Besides, Scott had bigger plans now, as he was about to pack up his life and move across the country.
He shut down the website and put all his ideas on hold.