Product Research Lecture Notes

Introduction

• Discussion on product research and finding winning products.
• Importance of winning products in successful ad campaigns.
• Example of a day-launch ad generating $447 in sales with effective ad strategies.

Key Takeaways

• Importance of Winning Products:

  • A good ad strategy is ineffective without a winning product.
  • Example: No creative can save a non-winning product (e.g., fidget spinners).

• Successful Campaign Metrics:

  • Ad campaign performance measured by Return on Ad Spend (ROAS).
  • Example from the lecture: 2.23 ROAS indicates profitability.

Testing Strategy Overview

• Successful testing of products requires:
  • A winning product.
  • A winning creative.
  • A winning ad strategy.
• Importance of selecting the right interests and ad sets (e.g., ABO and ASC campaigns).

Finding Winning Products

• Introduction to using Facebook Ads Library:

  • Tool for checking active ads and competitors in dropshipping.
  • Begin by searching keywords relevant to specific niches (e.g., "shop now").

• The Rabbit Hole Method:

  • A strategy to explore related keywords and niches by starting from one product and branching out.
  • Example: Started with a hydrogen water bottle and moved through various health-related keywords.

Using AdScout for Research

• Partnered with AdScout for enhanced product research:
  • Filters to narrow down active ads, total ads, and specific niches.
  • Ability to find trending products with a higher success rate (new launches).
  • Identifying good creatives and validating successful products.

Validating Products

• Steps to validate potential winning products:
  • Check if the product is selling well on competitors' ads.
  • Look for multiple active ads and ad sets as signs of scaling.
  • Ensure that the website looks professional to gauge seller credibility.

Good Creative Examples

• Good creatives often include:
  • Personal recommendations or testimonials.
  • Engaging visuals that resonate with the target audience.
• Importance of creating better creatives than competitors for successful ad campaigns.

Conclusions and Recommendations

• Winning Product + Winning Creative + Winning Strategy = Success.
• Explore both free tools and paid solutions (like AdScout) for product research.
• Stay updated regularly as trends in e-commerce products shift frequently.

Call to Action

• For those interested in one-on-one coaching for product research and ad strategies, a link was provided for booking a call.