E-COMMERCE MODELS

Shopify.

Starting from Zero, Lam.

http://tomwoods.com/ep-1018-listener-success-stories-how-the-tom-woods-show-spawned-these-new-entrepreneurs/

Facebook generates 85% of e-commerce revenue?

2008 it was all google.  Doesn’t have the same targeting aor the same ability to target exact market.  Good for specific product.  Got to let the data tell you a story.  Replicating successful products.  The creative.  How are you angling the product in the market?  The creative has to speak to the audience. 

The targeting.  Cat magazines.  Anyone that is running an emcommerce business you have to let the data. 

4 levels or 4 numbers: INDICATORS.

1.    CPR rate from the ad.

2.   CPA, cost per acquisition.

3.   CPC link.  Paying per link/click.  Number @ $1.00

4.   CPM, cost per thousand views.  Offline and online space.  every 1000 you are charged an X amount of dollars. 

DIFFERENT ECOMMERCE MODELS

1.    No inventory?  Recommends this model.  He used it back in 2008.

2.   The inventors are happy to get sales.  All you have to do is sell the products.  Amazon changing the way that people use to buy.  Image of product, description and use credit card.  

3.   Gives you access to selling millions of products without holding an inventory.

Niche based websites?  Yes or no.  General store or niche store.  Always niche stores.  Profitable on the back end.  Easier to build a relationships with customers.  Narrow down the avatar of your customers.

When you’re building the rapport you can sell more products down the line. 

All of a sudden a digital product that allows you to train a cat. 

Facebook really looks at your purchasing event.  Flex store purchase even pixel having your site all over the map confuses Facebook—not sure what you’re selling.  Algorithms confused.  Flex or general store opens front doors on your product.  Kitchenware, dog products, cat products, confuses Facebook algorithms.  Easier to test different products from different niches.