Who is Davie fogarty?
Davie fogarty is the founder of the oodie brand, a 9 figure eCommerce brand.
Davie fogarty is a 26 year old Australian eCommerce entrepreneur, he started oodie from his bedroom with no funding and very little experience. He’s only in the early twenties but has already built one of the world’s most ecommerce brands, OODIE, which he built on the Shopify platform.
The following are the steps that have been documented showing how Davie launched and grew Oodie into a multimillion dollar empire within 4 short years.
1) Find a Product Niche
This step is crucial for the success of your eCommerce business.
To begin with you have to find a product that is suitable for your target market, this will help you save time and money because you won’t be throwing away any more money promoting products that are not in demand.
2) Market Research
After finding your product, the next step would be doing extensive research on your target customers demographics. You want to find out what they like or dislike about certain brands instead of focusing on everything. This stages helps you identify gaps in the market which allows you to better serve them later on down the line.
Once you’ve done all your research then it’s time for *POPULATION SEGMENTATION*
3- Decide on a Product Segmentation
This is another crucial stage in the process which will help you market your product to different customers. Segmentation of customers means dividing them into logical groups based on certain characteristics. When done correctly, this will allow you to market your product more effectively and increase sales by understanding what specific group wants to see or hear before they make a purchase.
4- Create a Unique Selling Proposition
In this stage you will have to narrow down the product segmentations to one group of customer, perhaps people who wear glasses. Then you’ll have to create something that makes your company stand out from the rest, *OPTICAL BRANDS* do not spend money on paid ads or Google Display Network until you know exactly what it is that makes your brand unique and different from the competitors.
If there are no differentiation factors then this means more investment into SEO which is extremely expensive and may not be worth doing for new companies just yet. At this point in time I would recommend testing Adwords campaigns by using negative keywords like “discount” and “cheapest” and see what type of results you get. This way you can weed out prices keywords early on to save costs later down the line
5- Find Customers Who Buy
Before creating an Adwords campaign, it’s best to find customers who are already buying similar products from competitors. This will allow you to understand your customer much better and create ads that fit their needs and wants.Take a look at some competitor websites and check where they gather there traffic from, this will help you determine if Adwords is worth investing in for yourself yet or not. If there is no organic traffic coming from Google it means there isn’t much demand for your product just yet so I would wait another few months before diving into PPC.
6- Find Competitors Who Are Making Money
If you find that your competitors are making money on Adwords then this means there is demand for what they are selling, this is when I would recommend creating an account on Google Adwords and setting up a few ads yourself to test the market. If new companies can make money with PPC then you know its worth investing in it later down the line. This step is quite straight forward, simply go back to each product segmentation you created earlier on during Step 4 and create Adwords adverts for them one at a time until you find one that converts well.
7- Know Your Competition
Now that we’ve finished creating adverts and found out which product segmentation works best it is now time to find out who our competition is. The keyword “competition” shouldn’t be taken lightly here because your competitors could simply be larger companies with far more money than you, this will allow them to compete on price and they may also be able to outspend you on Adwords which wouldn’t make sense for new companies at this stage. A lot of smaller eCommerce businesses go under because they are not aware of the huge costs associated with PPC, they see ads like the one below and think that running an ad like this would be profitable but in reality these types of campaigns fail 95% of the time unless you’re selling products worth thousands of dollars.
Where Can I Learn More About Davie Fogarty?
Alternatively, you can also find him on his youtube channel.
I help ecom and info product businesses scale through paid traffic.