HOW BIG SHOULD YOUR MARKET BE? FACEBOOK ADS – Shopify Drop Shipping Tutorial
You just decided to open a new store but you wonder how big your market should be? What’s the minimum size your total market should be in order to make it work?
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How big should your market be?
Look, you want to have a market that is big enough for you to scale enough to make at least a few thousands dollars per day. If your market is too small, it will be really hard for you to make it work in general.
As a rule of thumb, your market size should be at least 3 to 5 million people ON FACEBOOK. Remember, I recommend you to start testing the market using Facebook ads, so the market size outside of Facebook is not important. You have to know the market size of your potential market INSIDE OF FACEBOOK.
The first thing that you need to do is to go to to Audience Insights. You basically need to to in Business manager, then do a search for Audience Insights and you will find it. Here is a screenshot below.
Now that you are in audience insights, you need to select EVERYONE ON FACEBOOK.
For the location you want to select UNITED STATES!! When I say you guys should aim for a market size or 3-5 million, I’m talking about the UNITED STATES only. You basically want to know how many people is in your market, on Facebook, and in the USA.
Now as you can see above, in the United States, between 150 million to 200 million active users on Facebook, monthly! In the bottom left of the image, we are going to add a broad keyword that represents our market to know exactly how big our market is in the USA on Facebook.
Let’s say my market is cats lovers. I’m selling cat products and I want to target people interested in cats. I would then add the keywords CATS.
As you can see, when I add the keyword Cats, the number for the monthly active users on Facebook drops to 30 to 35 million people! It means that for the people in the United States and that are on Facebook, there are around 30-35 million monthly active users!
Again, you want to make sure that this number is bigger than 3-5 million monthly active users. If it is lower, it will be really hard for you to make money in this niche and it will be impossible for you to scale your ads and make a lot of money!
If you are looking for more, or are wanting to seriously pursue making money with e-commerce, then I want to invite you to join my E-commerce University Program.
E-commerce University is a step-by-step video training course that walks you through everything. The students in it are making a lot of money and the reviews are amazing.
In the program, you get to see me create an E-commerce business from scratch. The program consists of over 45+ “over the shoulder” videos where you get to watch me do everything.
You will learn EVERYTHING you need to know to be successful with e-commerce/dropshipping in this program. I leave nothing out and I am 100% transparent! I share with you exactly what I do with my stores, and even how to scale this business by automating and outsourcing the whole process by hiring virtual assistants! You will learn how to pick a good niche, good products,how to do Facebook ads, Instagram ads, advanced promotions strategies and much much more. This is the exact system I used on all of my stores.
To find out more about E-commerce University, CLICK HERE.
Please leave a comment below or let me know any questions you have. I’d love to hear what you think!