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I Jumped On The Bandwagon! Franklin Hatchet Method!

Discussion in 'My Journey Discussions' started by ForceFed54, Nov 27, 2015.

  1. ForceFed54

    ForceFed54 Junior Member

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    I'm not going to waste any time really going over this method as its been done already by a few members on this board. I will however use this thread to go over my process, and keep myself motivated because I think staying motivated is the most important thing when it comes to IM.

    So I've been seeing all the Franklin Hatchet methods popping up and I read through a few and it really sparked my interest. I do FB ads in the auto industry (part of my 9-5) so I already have a pretty good gasp on how to build ads, target, etc using Facebook. This method is pretty damn close to idiot proof, if you have a little money to invest in Ad's you can be started up in an hour or 2.

    So I know Fb ads, I have an Aliexpress account, I have Paypal, I have a Facebook Ads account that I've used for years, and I want to make a little extra money especially in the two biggest selling months of the year!

    I jumped right into it yesterday after dinner! I started with what Niche I wanted to be in. I knew it has to be something people are passionate about, something you cant just run to Walmart and buy, something unique. What better niche than one I myself am truly passionate about? Bingo, I picked a niche that I myself buy products on a regular basis in, a niche that I have been targeted as a consumer on facebook before!

    Now I needed to find a product, so I went over to Aliexpress and started to do a little digging for something 4-5 bucks that I could essentially give away. I found something that I myself would buy, priced at around the $5 mark. Now that I knew I had a product that I could sell/give away I started getting to work on the Facebook page. I chose what I believe to be a nice brandable name, designed a professional logo for the profile image, as well as the cover photo. I then jumped over to Shopify and got my store setup with my Logo, and the one product that I had found.

    Now from my own personal research with Facebook Ads, most of the traffic comes from mobile. Everyone is on Facebook on their phones all day long so I put a strong emphasis on making sure that the layout of my store on Mobile looked clean and professional. I wrote my own description for my product, put the specs in, images, colored the font etc.

    So at that point my Facebook page was complete, my Shopify store was complete, and it was now time to work on my ad copy. Now for my product I decided to price it at $19.99 and offer an early black friday coupon code in order to bring the price to $0. My shipping rate I selected $10.99 as it just seemed like a good number to me. So I went to photoshop, and created my own custom ad with some call to action and flashy promo bits to attract attention. When I was happy with my Image I went to my Facebook page, pasted the link to my product page, and then swapped the image out with the custom one I designed.

    I wrote a post that went something like this "The guys over at [facebook page name] have decided to kick black friday off with a great giveaway! For a limited time get your own [product] for free when you checkout with coupon code BlackFriday1" I also tweaked the title of the ad and the description.

    When I launched the Ad I had optimized it for post engagement, I was curious about how it would work out as opposed to website conversions and tracking with pixel......basically I wanted to be a little lazy haha. I set up the Ad, and let it roll.....

    I started to see some engagement, was getting decent cpe but not a ton of sales, I was essentially breaking almost even with my Ad spend. So I decided to quit being lazy and adjust the ad optimizing for conversions with the FB pixel. That seemed to do the trick, I got 4 orders and the current cost per conversion is around 1.33 which is perfect. Now it is still early to take those numbers to the bank, it will take $50 or so in Ad spend IMO to really see if it is effective or not.

    One sale that really made me happy was the $30 sale, that customer used the coupon code to get one free, but wanted second one, so he paid full price $19.99 for the second item. Its very important that if you go with a coupon code you make it only able to be used one time per order.

    Photo Nov 27, 9 35 14 AM.jpg

    I have done more scouring this morning and found 2 more products to add to my store, at the moment I have them priced normally with an inflated comparison price so it looks like the item is on sale when really I am marking up each one by $5-$10. I have to figure out how to set it up so if I do giveaways on those 2 products that someone doesn't buy all 3 and only pay the $10.99 shipping. I know I read something about setting up weights so I will hunt for that thread and try and get that figured out.

    As of this moment I am in profit by about $32 dollars.....not bad for setting this up yesterday if you ask me!
     
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  2. Invention13

    Invention13 Registered Member

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    Nice one! this does sound like a good method, I understand it almost completely, I just don't have experience with FB ads, do you use a personal account for the ads? that is one of the main things I'm not sure on.

    Good luck
     
  3. Neon

    Neon Jr. VIP Jr. VIP

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    Good Luck OP !
     
  4. SPQR

    SPQR Elite Member

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    Good luck ForceFed54!

    This is a great point. Every year the number of users of mobile phones rises massively. It's smart to take that into consideration.
     
  5. Trith

    Trith Newbie

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    Quick question for OP or anyone else, any tips on writing product descriptions effectively?
     
  6. SPQR

    SPQR Elite Member

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    Be realistic, don't make any false claims. Write for your audience. If you are selling to teenage girls use phrases like "these super cute [product]".

    But most importantly, in most cases, you should keep it short and to the point. You are trying to sell a cheap product, you are not trying to give a university level lecture.
     
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  7. eXampL

    eXampL Power Member

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    Good luck with your journey mate!
     
  8. Cryogenesis

    Cryogenesis Jr. VIP Jr. VIP

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    Ste is gonna be pissed.
     
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  9. Sythix

    Sythix Senior Member

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    Welcome to the club OP. What a great study, and congrats on the sales bro.
     
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  10. Thecodder

    Thecodder Newbie

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    Good luck with your journey man!I subscribed and wait next updates!
     
  11. ForceFed54

    ForceFed54 Junior Member

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    Whats happening everyone?! Big thanks to those of you that posted and came to follow along in my journey!!

    I recognize a few names from the other related threads and I'm glad to see it, I'll do my best to get active in your threads as well.

    So lets get into what I put into my journey today!

    Today I had planned to get two more items set up with ads, but after some consideration I have decided to wait. I want to see what I get for a response from my customers when they figure out how long the shipping is. My supplier guarantees delivery within 37 days which is awful I know, so I want to see how many refund requests or angry customers I get with one product in order to avoid the possibility of having to do damage control for 2x the orders. I currently don't show my shipping times on my site at all, its listed as just "standard shipping" but I know when I send out tracking numbers to my customers that they will soon realize how long it will take to get their purchase. As far as issues go with this method, the shipping time frame is the only big one in my opinion.

    Now to the good news! My Facebook ad is performing better as time progresses, which is what I would expect as Facebook gathers more information from my Pixel and optimizes my ad further. My results today are outstanding as far as I'm concerned, all the numbers are great.....check it out.

    So here we can see I generated $118 in sales off of 9 orders with only 51 visitors! 17% closing ratio is pretty damn good! Excellent Numbers!

    Photo Nov 28, 6 42 12 PM.jpg

    Photo Nov 28, 7 14 48 PM.jpg

    Here you can see my Ad spend for today at $9.98 only $1.11 per conversion! I think we can get lower!

    Photo Nov 28, 6 42 33 PM.jpg

    Today's final breakdown:

    Sales: + $118
    Ad: - $9.98
    Item Purchase: - $44.28

    Today's Profit: $63.74
     
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  12. Sythix

    Sythix Senior Member

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    Nice bro. If you read my journey I am also in a lul period, decided I won't promote until after new years. I did make about 30 sales in just a couple days though.

    I've only gotten two emails of people asking how long it would take and they were both very polite. Pretty sure my first orders already got their item or will be getting it shortly. I got a cool supplier who told me she would take care of any unhappy customers. Not a single charge back yet. Fingers crossed.

    Good luck bro
     
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  13. asap1

    asap1 BANNED BANNED Jr. VIP

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    Good stuff OP. $60+ a day is nice.
     
  14. TheSlug

    TheSlug Jr. VIP Jr. VIP

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    keep up the work! And keep us updated! Interested to hear if you have any issues with shipping.
    I have a product i've been trying to promote with facebook but haven't had the best luck... It's a coffee product

    do you use any specific tools to target your audience?
    I was spending around $2-3 per click. And got no sales after a few hundred clicks lol
     
  15. Cryogenesis

    Cryogenesis Jr. VIP Jr. VIP

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    You've hit the jackpot with your niche selection.
    Keep it up! :)
     
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  16. ForceFed54

    ForceFed54 Junior Member

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    Whats up everyone, I didn't have much time in the last 2 days to get on here and update but here I am!

    Great news is that yesterday marked the 3rd straight day of $60+ profit, and the 4th full day of my Journey. Yesterday was 11 sales for $140, after ad budget and fulfillment yesterdays profits were $67.70 and the prior day was $65 with 9 sales.

    Now my ad budget has been $15/day since I started, but today I bumped it to $20 in hopes to see my profits take a little bump north. I started designing new ads for facebook last night and then stopped.....why? I think my niche is perfect for an IG promotion! Now with IG currently I cannot optimize for conversions which is a bummer, however I think the reach and cpc for website clicks will be low and if I have a good sales copy on my ad and target right I should really only get buyers to click my link anyways.

    Soooo right now the only changes are the $5 increase in FB ad spend, and I am now working on designing my image for my IG promo and sales copy. I plan to start with $10 a day ad spend to test the waters on IG and see how it goes, I should have it launched tonight so that I have a full day of run time tomorrow.

    Thanks for following along! I hope everyone that is trying this method is seeing some success! Post up!
     
  17. Wasteman

    Wasteman Newbie

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    You seem to have found a solid niche! Have you thought about expanding it too a full proper store with just price mark-ups or you just going to stick with the giveaway/coupon deal? If there's a lot of products in that niche, you could make some serious dollar!
     
  18. LoftPower

    LoftPower Elite Member

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    Following along with you! Good luck as I do hope that you succeed!
     
  19. Dunn23

    Dunn23 Newbie

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    Really glad i found this journey OP. I work in social media marketing as well and this could be a nice side hustle. SUBBED! Have a great day.
     
  20. anatho

    anatho Elite Member

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    No updates for 3 weeks, so is it still working for you?