08/07/2021
Ad spend since May 1st: $115,000
Return on ad spend: $570,000
Profit: 32%
Product positioning
THIS STUFF MIGHT SEEM BORING, BUT IT'S CRUCIAL
How do you want your product/brand to be seen by your (potential) clients? How does your product/brand differ from competitors? It's of upmost importance to figure this out
You have to get to know your persona, after that you can analyse your competitors and decide how you want your persona to feel about your product. Do your market research! Not just before you start selling, also during. Always have one eye on your competitors, learn form their wins and losses, this could speed up your process by tenfold
How to analyse competitors:
1) Check their lead capture method, subscribe to their newsletter
2) Check their landing page: their objection handling, social proof, ease of use, payment options (split payments?)
3) Check their carts abandonment: Put something in your cart, wait for a bit and scroll through social media.
4) Use spying tools like adspy, check out their old and new creatives and copies, see how they have evolved
5) Buy a product from them: watch the whole process. When does the confirmation mail arrive and what does it include? Is there anything in the confirmation mail which is trying to reduce returns? Any reviews/ testimonials in confirmation mail? What does the delivery notice look like? Once the product has arrived what does the packaging look like? Is there an invitation to leave a review online? Do they send a follow up e-mail after purchase?