Guide To Running A Successful Online Business With Case-Study
There are many factors responsible for the success of a business. Definitely, an appropriate strategy with a defined set of goals can make a business skyrocketing. In this article, we are going to talk about those rules and winning strategies along with the tools to help you build your brand wisely, efficiently, and cost-effectively. Firstly, Let’s talk about the product(s).
Have you selected the right product?
If you are looking for something that you can buy at a low price from some manufacturer or wholesale dealer and sell it at a higher price to your audience, it would be a tough work required a lot of research. You need to find a high converting niche, the products related to that niche, and then the winning products among your collection of products. To make the process simple, fast, and efficient, tools like FindNiche can help.
Getting Help From FindNiche:
To find the winning product, you can take help from our free tool called FindNiche. The FindNiche database contains the data of more than two million Aliexpress products with a massive 11000 niches and more than 700,000 Shopify stores. With a few clicks, you can easily filter products based on a number of parameters such as product category, Price, Number of Orders, Votes, top-selling countries, shipping country, accepted payment methods, top brands, and the option for faster shipping.
Features don’t stop here; you can also filter the products based on the number of people adding them to their wishlists or if the product contains a video or not. The database is updated regularly to provide you with fresh analytics, charts, and suggestions.At first, all you need is to visit www.findniche.com, create an account, and start searching for the product.
As you can infer from the screenshot, our powerful database contains updated information about hot selling products on Aliexpress. If you need to dig the analytics and other details, you can do so by clicking on the product.
How To Reach Your Audience:
After selecting your winning product and adding them to the store, the next big thing is driving relevant traffic to your product. For this purpose, you can either go for search engine marketing, display advertising, or social media marketing. So, let’s take the example of a successful case study.
Facebook Advertising Success Story From The Jewellery Industry
We’re going to discuss the case study of an online jewellery brand. Bryan Anthonys’s goal was to spend maximum ad budget on reaching those people who’re likely into buying their product on Black Friday and Cyber Monday. After setting their goal, Bryan Anthonys collaborated with a digital marketing agency to develop a strategy that helped them in crafting a plan to run their Ad campaign.
The company targeted a broad audience using dynamic ads. The feature assisted them in reaching new people who were seemingly interested in buying the product but were not engaged already, thus helping them in getting new leads. The technique helped them in finding a reasonable audience. Notably, nowadays there are various ad spy tools to present the demographics details, then marketers can determine target audience. Such as BigSpy, it is a widely used ads spy tool, people can use it to check the information about gender, age and location, and finally work for audience selection.
After maximizing the engagements, the team worked on a retargeting campaign targeting only the users who had shown any interest in the products by performing actions such as website visits, purchases, or abundant checkouts in the past 180 days. Hence, delivering interest-based ads to the relevant people. Carousel ads showing multiple product images and dynamic ads that automatically fetched different products for each user based on their interests performed phenomenally well.
The campaign ran for a week from 22nd to 28th of November, 2018 leaving a success story behind. The company had to hire extra staff members to facilitate the packing and shipping of products. Here is what the company achieved.
- 3X increase in purchases
- 47% lower cost per purchase
- 57% increase in return on ad spend
- 3.5X increase in conversion value, year over year
It is very clearly evident from this success story of Bryan Anthonys that the success of an online business depends upon the time they invest in developing a strategy and what tools they use.
We hope that this case study has helped you in getting an idea of the winning marketing strategy for a Jewellery business. However, this is not just limited to Jewellery, you can apply the same to other businesses. If you have any queries, please let us know in the comments section.