Have you ever thought about running a one
product business?For some dropshippers, it’s a simple formula
for success.So stick around, cos we’re going to break
down that formula for you today.Hi world how goes it, it’s Mark from Oberlo.Welcome to Show and Sell.Usually in this series we take a look at a
product niche and the ways in which merchantscan sell in that niche.But not today.Instead we’re going to talk about how to
sell a single item with a one product store.First we’re going to identify reasons why
you may want to run a single product store,and then we’ll explore how you can make
that store a success.Every entrepreneur is different.Some might be awesome at running a general
store.But if you’re more suited to running a streamlined,
straightforward outfit then you’ll probablyappreciate setting up a one product business.It only takes one good idea for you to make
it big.And without the distraction of building a
store for multiple products, and then managingand marketing those products, you can focus
all of your energy, attention and resourcesinto selling your one product better than
anyone else.I don’t want it to sound too good to be
true.Because there are challenges that come with
setting up a one product store.Unlike a general store, a one product business
goes all in on a single item.And that is perhaps the gnarliest challenge
of them all,how to findthat one product you want to sell.So that seems like a good point for us to
start.There are five things to keep in mind when
you go looking for great dropshipping product.One.It’s not easy to find elsewhere on the web.Two.It’s tricky for shoppers to guess the price.Three.It’s interesting enough to entice consumers
to click.Four.It can be purchased by consumers with no need
for any prior research.And five.It’s inexpensive.A product price of $5 or less, including shipping,
is ideal.Using this criteria I searched the Oberlo
marketplace for an example of what could bea good dropshipping product for a one product
store.And I found this interesting solar-powered
cranium-cooling accessory.Right, I know this looks a little goofy but
hold on.It fits our five search criteria quite nicely,
and there already appears to be a market forthis cap, as it has got multiple sales in
the last month and six months.And it has a couple of five out of five customer
reviews.On top of that, it’s novel, and pretty eye-catching,
meaning it would make for a great productto advertise in a video.Let’s say you’ve also found your product.What now?Well, now it’s time to build a winning store
that’s optimized to sell one product andone product alone.Shopify has a few store themes which are ideal
for single product businesses.Startup is one of those themes for one product
stores or stores with small inventories.This theme adheres to a golden rule of one
product marketing: it provides merchants witha powerful space above the fold for their
product to immediately hook the user.Above the fold refers to what is visible on
the user’s screen.In this context, it’s what is visible once
a user arrives to your online store.Anything below the fold requires the user
to scroll.A large hero image above the fold is a golden
opportunity for single product store owners.This is premium real estate to build your
brand, highlight your promotions, and bringyour flagship product to life.As you can see with the Startup theme, a hero
image above the fold also works as a greatspot to allow your customers to order the
product directly from the hero image itself.It acts as a guiding hand, waving away distractions
and enticing customers to fill their cartand go to the checkout. ASAPAfter all, it’s a one product store
– there’s nothing else for customers tobrowse for.But hold up: we’ve gotten a little ahead
of ourselves.How do we even get customers to our store
and interested in our solar powered ventilatorhat in the first place?To do that, we have to get smart with social
media.Start by optimizing your Shopify store so
that it can leverage the power of Facebookto the max.You do this by connecting your store to a
Facebook Pixel.And then run ads to drive traffic to your
store.Our ventilator baseball cap is attention grabbing
enough to drive traffic to our one product store.People are likely to want to find out more
about this unique headpiece.Once we generate traffic, the Facebook Pixel
monitors what visitors do once they are inthe store.The goal is for the Facebook Pixel to help you optimize
your ad strategy.With the data recorded by the Facebook Pixel, you can
segment your store’s visitors into groups,and then hit get those groups with hyper-targeted ads.Do you like the sound of the Facebook Pixel?You should do, because it is a powerful way
of figuring out which customers are likelyto buy your product.Try setting up a Facebook Pixel for your store.We can help you do it.Simply click this link right here and watch
how to set up the Facebook PIxel in undertwo minutes.All right, your Facebook Pixel is operational.You’re running ads, you're collecting
data, and now you’re running even better adsPretty soon you should be getting some traffic and sales.If not, Facebook has another way of helping
you out.Once you collect Facebook Pixel data on one hundred
people from a single country, you get access tothe Purchase lookalike audience feature on
Facebook ads.A lookalike audience is an effective way to
reach new people who are similar to your visitorsand customers.You can use a lookalike audience to target
a new market, or to simply find a new audiencein your existing market.You create a lookalike audience based on the
people the Facebook Pixel has already seen.Facebook recommends that you build this base
list for the lookalike audience out of peoplewho have made a purchase in your store, and
not just every single person who has visitedyour store.This generally leads to better results for
merchants who use lookalike audiences.That’s because the Facebook Pixel helps bring traffic
to your store made up of people similar tocustomers and not just similar to store visitors.It’s an effective, hard working Facebook Pixel too.Around ninety percent of the time, lookalike
audiences average a higher click-through ratethan other audiences on Facebook.Have you thought about what kind of ads work
best on Facebook?I can tell you that the trend is pointing
very clearly toward video, which is the mostpopular medium for Facebook campaigns.Facebook users spend 100 million hours a day
watching videos.And the clickthrough rate
for video is as high as 57 percent.It’s generally advisable to make your ads
eye-catching and fun so as to encourage impulsebuys.But if your product is not suited to impulse
purchases you can make a functional videoinstead.After all, there is data to say it’s worth
it.Ninety-six percent of consumers said they
find videos helpful when they are choosingwhat to purchase online.And here’s the kicker: nearly three quarters
of consumers are more likely to buy a productif they have watched a video explainer prior
to hitting the checkout.So this is definitely a medium worth exploring
for one product stores.As the merchant, you can focus your time and
creative energy on making o ne hit video foryour product, you don't have to stretch resources
to make multiple videos for multiple products.Now I know not everybody has access to filming
equipment, or maybe their product is not wellsuited to video ads.But there’s good news: good old photos are
still popular, and are second best to videoswhen it comes to attracting customers on Facebook.If you’re considering a one product business
but still need some convincing, then you shouldread one of our merchant success stories.Click the link in the description below.This success story is all about how one dropshipper
took a single product and turned it into asix figure ecommerce business.What one product would you sell in your online
store?Have you tried using lookalike audiences?Let me know what has worked and what has not
worked for you, and I will get back to you.Thank you for watching this video.Until next time: learn often, market better,
and sell more.
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