Welcome to another exciting episode of eCommerce on Tap. In this episode, Nathan Resnick sits down with Anatoliy Labinskiy, the founder of GSM Growth Agency. Anatoliy has an impressive track record of generating multi million dollars in revenue for clients in the eCommerce industry. In this engaging conversation, Anatoliy shares his experiences, insights, and strategies for scaling funnels, increasing average order value (AOV), and navigating the ever-changing landscape of online advertising.
Boosting Average Order Value (AOV):
Starting with how his strategy works, Anatoliy advises brands to focus on increasing the average order value (AOV). He shares valuable insights on how brands can achieve this objective and emphasize the significance of offering free gifts to incentivize customers to spend more. Anatoliy recalls successful campaigns where customers were enticed by the promise of receiving a low-cost gift along with their purchase, where the costs of the ‘gifts’ offered were negligible compared to other products.
Anatoliy highlights the psychological impact of creating a sense of urgency and scarcity. By promoting limited-time offers and communicating those certain products or collections will never be restocked, brands can create a sense of exclusivity and drive customers to make higher-value purchases. Anatoliy’s experiences demonstrate that customers are more likely to increase their spending when they believe they have a unique opportunity to acquire something valuable.
He recommends creating urgency by telling customers and clients that what’s on offer right now won’t be in the market for long. Combined with a gift offering that entices even the most reluctant customers to complete a purchase.
The GSM Growth Agency founder emphasizes the importance of strategically utilizing upselling and cross-selling techniques to boost AOV. Offering complementary products or suggesting higher-priced alternatives during the checkout process can encourage customers to add more items to their carts and increase their order value.
Furthermore, Anatoliy suggests leveraging tiered pricing strategies, where customers are incentivized to spend more by unlocking additional discounts or benefits at higher spending thresholds. This not only encourages customers to increase their order value but also fosters customer loyalty and repeat purchases.
Current Advertising Trends on TikTok and Facebook:
As a seasoned marketer, Anatoliy shares his insights on the current trends and challenges in online advertising, particularly on Facebook. He explains that understanding the nuances of different advertising platforms is essential for success.
While TikTok is excellent for brand awareness, Anatoliy notes that it may not always yield substantial profits for eCommerce brands. However, he emphasizes that TikTok can be a game-changer for dropshipping stores.
Anatoliy shares a remarkable case study of how they scaled a dropshipping store to $270,000 in less than 60 days using TikTok ads. He also highlights the importance of adopting a different mindset when advertising on TikTok compared to Facebook, as the platforms have distinct user behaviors and algorithms.
Facebook ABO and CBO:
When it comes to Facebook advertising, Anatoliy emphasizes the timeless importance of understanding the target audience. With the help of AI tools like ChatGPT, businesses can quickly gain insights into their audience’s preferences and tailor their strategies accordingly.
Anatoliy advises marketers to start with ABO (Ad Set Budget Optimization) or CBO (Campaign Budget Optimization) strategies, depending on their ad account’s performance. Testing, analyzing metrics, and adapting strategies to individual ad accounts are vital for achieving success in the ever-changing landscape of online advertising.
Here’s how both of them work:
- ABO (Ad Set Budget Optimization):
- Allows advertisers to allocate budgets at the ad set level.
- Provides greater control and granular optimization.
- Ideal for testing different ad sets within a campaign.
- Enables targeted optimization based on specific KPIs.
- Useful for distinct target audiences or different creatives.
- CBO (Campaign Budget Optimization):
- Automatically distributes the budget across multiple ad sets.
- Simplifies campaign management and saves time.
- Leverages Facebook’s algorithm for optimal budget allocation.
- Ideal for campaigns with similar target audiences and creatives.
- Utilizes Facebook’s machine learning capabilities for better results.
Takeaway:
Anatoliy Labinskiy’s journey from starting with modest goals to scaling multi million-dollar funnels is an inspiration for eCommerce entrepreneurs. His insights and strategies offer valuable lessons for businesses looking to achieve remarkable growth and profitability. By understanding their target audience, offering strategic incentives, and adapting to evolving advertising platforms, brands can position themselves for success.
At Sourcify, we understand the challenges businesses face in the eCommerce space, from sourcing and supply chain management to fulfillment and cost optimization. We are here to provide solutions and support to help your business thrive. Whether you need assistance with supply chain optimization, sourcing reliable manufacturers, or assessing market rates, our teams are ready to assist you.
Contact us today to discuss your specific challenges and learn how Sourcify can be your trusted partner in navigating the complex world of eCommerce. Together, we can unlock your business’s full potential and achieve remarkable growth.
Anatoliy and GSM Growth Agency: Breaking Seven-Figure Funnels
Anatoliy has achieved remarkable success in the eCommerce industry by scaling multi million-dollar funnels. He shares his initial fascination with ClickFunnels and the doubts he had about achieving such extraordinary results.
Back in 2018, Anatoliy discovered ClickFunnels and was amazed by the possibilities it offered. At the time, he had modest aspirations of making $3,000 a month. the concept of generating millions through a funnel seemed unattainable. But Anatoliy’s determination pushed him to dream big and set his sights on creating a seven-figure funnel.
It took time and effort, but Anatoliy and his team at GSM Growth Agency eventually achieved their first seven-figure funnel by 2021. The moment Anatoliy received his first ClickFunnels award, he was overwhelmed with emotions. He vividly describes the disbelief and joy he experienced, holding the tangible representation of his achievement in his hands.
GSM Growth Agency now works with several clients, achieving remarkable success with their work. Anatoliy mentions the development of GSM Growth Agency’s own attribution software, e-Comm Scout, a competitor for the likes of Triple Whale that allows for effective tracking of orders and optimization.
Get in Touch with Anatoliy
Free Giveaway!
Anatoliy has offered a free PDF guide for creating a killer ad copy structure for eCommerce On Tap listeners. Get your free PDF here!
