Hello to you and two thousand other readers!
Let’s kick off today’s edition in style following last weeks format!
🔥Product/Growth Knowledge concept for you (Facebook Vs Apple)
🔥Product/Growth Tip of the week (Premature ahaa moment)
🔥SLC of a validated business (Juicy 6 figure business)
Facebook Vs Apple, what the hell does this mean?
I look at this like we're the civilians between Captain America and Ironman (Except both are massive "evil" corporations lol)
Let's jump straight into what exactly is happening.
As of the new iPhone iOS release, Apple will be a big one, they're bringing in IDFA (Identification for Advertisers) as a consent form that users need to approve before FB or other apps can get access to any user data.
This comes in with the new module users need to install called the AppTracking Transparency SDK
An example of the image:
What does this mean on an advertising level?
- You can associate your app to a single ad account
- Each app is limited to 9 iOS 14 campaigns
- Your FB Pixel will optimise for a max of 8 conversion events, all other events will be made inactive on an Adset level (View Content, Button Click, Add to Card, Initiate Checkout, Payment Info, Purchase)
- There will be delayed reporting up to 3 days, no more real time data
- For both app and web conversions, delivery and action breakdowns, such as age, gender, region and placement will not be supported.
- You won't have access to 28-day click-through, 28-day view-through and 7-day view-through attribution windows
I did a thorough breakdown here:
Anything premature is usually not preferred
For you dirty thinkers, that’s not what I meant. In product, we often speak about achieving that ahaa moment at which point your customer realises why they signed up for your product
But there is something like introducing that moment a little too soon and converting it into a disappointment.
Twitter’s ahaa moment would be the newsfeed where a user gets to experience the wonders of the internet, see relevant content as well as build connections. However Twitter (any many social media) delay this by forcing users through a “customisation funnel”
Users are often asked to select categories based on their likes and wants, as well as follow some famous people they may know of. This is all in measure of improving their feed and therefore their ahaa moment
This approach can be extrapolated into many products and use cases so be cautious of prematurely introducing your ahaa moment, nurture them up to the point and when you show it to them, make sure they’re wowed by full effect or you’ll experience churn
I’d love a favour from you, if you could reply back with your favourite onboarding experience of a recently product and why I’d love it!
Validated Million $ business ideas for you to build, TODAY!
As promised last week, we’re looking at an eCommerce business you can start today.
The next big wave (it’s already here) is Men’s Skincare
Men’s skincare is the underdog of the 2020 decade, the next few billion dollar companies are going to be coming from the Men’s health and skincare ecosystem. Massive cultural shifts have lead to this trend with more men caring about their skin’s health.
In addition seeing the rise of Kpop bands globally has caused a movement in more guys wanting healthy skin as well as caring about their physique.
The market is severely underserved with many of the juggernauts still focusing on the female market, after all the larger % of online purchases are made by women than men statistically. This is where people go wrong, don’t target men, target women in relationships with men to get their men to care about skin the same way they do.
SLC (Simple, Lovable Complete):
Lowest hanging fruit would be to dropship a product in the hair care space from Aliexpress, this will help you build an audience, trust as well as a pixel base to eventually target your skincare products too. To build your skincare brand white-label your product through the several private labelling skincare companies (I can give you examples but honestly, if you google them, you’ll find enough).
Setup a pre-launch campaign with the aim of landing $3-$5k in pre-sales, which is enough to make the initial batch order and you can scale from there based on your economics
UBP (Unique Bragging Proposition):
Always niche first, then expand later. Men face many issues with skincare that’s often not talked about, some of these are:
- Back Acne
- Patchy beards
- Eye bags
You can create niche products attacking one of these many specific areas that affect confidence and as per market research are highly underserved. Men often resort to female-targeted products to resolve these problems
Why I chose this?
✅ Google Trends is showing an upward steady move towards this. Same applies on a 5-year map
✅ Highly underserved audience
✅ VC backed products
✅ Not too many home brands attacking this space (As compared to women)
✅ Expanded targeting (target women and men)
✅ Get onto a trend that is about to take off for the next 5-10 years
✅ $20Bn industry by 2027
Thats all for this week, if you’ve liked this I’d love your 1 line feedback on what I can do to make it better
As always you can find me here on twitter
See you soon!