₦airaland Forum

CandyOps:
It's a good thing the internet is available to every Tom, Dick & Harry nowadays. because back in the days you'd have to say that shit to my face and then you'd get punched in the fcukin' throat for running your mouth like a bitch.

CandyOps:
You wan nyash me? Abi you wan initiate me? Which one be chat you call you email you? Calm down broski. You formerly said to send you a mail which I did yet no response. Now it's WA chat .. lol bro.

What do you wanna talk about? If you can't give me a clue then I don't wanna know

CandyOps:
We are already communicating here. Why do you insist on WA chat? Isn't it something we can discuss here?

CandyOps:
Yes we can. Isn't it something we can talk about here on NL?

CandyOps:
I spend at least on an average 250 to 500k on FB Ads monthly.

I sell strictly online with no physical shop
Niche- Gadgets and electronic wearables.

I had to stop selling kids iPad as the cost price keeps soaring and one spoilt product will erase any gains you made from past sales. Plus dollar to naira is killing the gains.

My dashboard sales are great. With CPA averaging at 3000NGN per purchase on dashboard but with 30% success rate in deliveries that means that my real time conversion rate is around ₦6k.
.

I don't build a list as I'm focused on Hot Sales and direct response.

So I had to switch up my products and I ran a test ad for wearables like smart watches and accessories. It was good with conversion rates averaging N750 - 900. Realtime conversion rate should be like 2700 (approx. 3k)

I paused the ads.
Raised 700k
Imported at the rate of N9k per watch... Plus 5k for delivery as we run a free delivery service for every order.


BREAKDOWN:

- 5K Delivery + 9k watch + 3k ads = 17 to 20k expenses b4 sales on top 1 sale

Selling price = N23k - 20k = 3 to 5k gains after sales on approximate (4k = profit, mean value)

Now, we didn't include spoilt items and returned items. Let's say for every 100pcs bought you'll get like 5 or 7pcs faulty.

Now if I have 6 watches successfully delivered a day... That is, 6 x 5 = 30pcs delivered in a week.

30pcs x 4k profits (mean value) = 120k gains weekly. 120k x 4 weeks = 480k monthly

It sounds good on theory but then every business person knows theory is quite different from practical results.

For example, the masses may decide to have a full blown 2 weeks of protest to End Bad Governance and shut down half the country.

Or... Some shit you never anticipated will pop up. So last last you may end up with 300k in gains.

Okay. By the time you minus personal expenses and upkeep. You'll have little left to top up and import more.

Here's what I mean...

Normally, you won't wait for the entire goods you imported to finish b4 you stock up abi?

I mean if you run Facebook adverts and you target nationwide you'll know it's a recipe for disaster if you let your stocks run dry b4 ordering for more.

Because if for example, you have stocks in Kano, Jos, Benue and Uyo. But is out of stock in the main states with highest purchasing power like Abuja, Lagos, Warri, Benin and PH then you will have lots of unfulfilled orders hence money lost as FB will charge you whether you fulfil your orders or not.


Now, remember the 300 - 400k gains? it gets decimated here .. because you have to keep funding your ad account daily and have to stock up on inventory and fight against time to enable better turn over.

Ok. To navigate that issue we try to redistribute stocks from states with goods to states that need them thereby attracting more expenses on logistics.

By the end of the day, you'll have little left to buy more goods. On the next import you'll buy like 60pcs instead of 100.

And we're not even considering the non-stop Naira decline against the dollar peg.

...

Now, every seasoned business owner reading this already knows the solution to this:

1. Increase selling price
2. Change the product.

I tried both. I increased the selling price but got a decline in number of daily orders. Which also meant the price per purchase crept up on Facebook.

I tried switching to a more expensive model of the smart watch and didn't even get 1 order for it. I got burned as I didn't test run the product b4 stocking up.

I kinda assumed it'll fly because the version I was already selling is hot-in-demand.

So I'm stock with stocks worth almost 350k and not much sales going on.

Along the line, all the other money you think you made it gone with the winds.

...


I'm got tired of importing and tried sourcing for the goods locally so as to avoid importation wait time but the ones sourced in Nigeria is more expensive with about 3k on top.


Doing business in Nigeria shouldn't be this hard.

I may have to switch back to digital marketing and growing a list of audience cos I can't keep up with this shit.

I should do just that.

On a 2nd thought 🤔💭

I could source for cheap products that costs less than 3k and resell for as high as 25 +or 30k.

Or sell a digital course. I gotta make moves

Bitterkola100:
drop your number and mention me on a dead thread.
I have a locally sourced product you can easily make millions from with a short period.

Blissful102:
blissful evening to you all. Please I'm here to search for a responsible girl who is ready for marriage,. I'm a digital marketer and ready to settle down from now till december,

The qualities I want in a girl,

She must be igbo

Average height or tall

Either working or have a handwork

18-25

Should be residing in either benin/delta / Eastern part or anywhere closer to these places, so we can easily meet up,

Please do well to send me a direct mail at,

Wealthdigitals36@gmail.com

Blissful102:
A blissful evening to you all. Please I'm here to search for a responsible girl who is ready for marriage,. I'm a digital marketer and ready to settle down from now till december,

The qualities I want in a girl,

She must be igbo

Average height or tall

Either working or have a handwork

18-25

Should be residing in either benin/delta / Eastern part or anywhere closer to these places, so we can easily meet up,

Please do well to send me a direct mail at,

Wealthdigitals36@gmail.com

Blissful102:
A blissful evening to you all. Please I'm here to search for a responsible girl who is ready for marriage,. I'm a digital marketer and ready to settle down from now till december,

The qualities I want in a girl,

She must be igbo

Average height or tall

Either working or have a handwork

18-25 yrs

Should be residing in either benin/delta / Eastern part or anywhere closer to these places, so we can easily meet up,

Please do well to send me a direct mail at,

Wealthdigitals36@gmail.com

MrCork:
Meobizy is a known male ON NAIRALAND who pretending to be female and 80% of females here are male including Meobizy and Siofra male 419 scammmers........WATCH OUT SIR!!!!

PlayMaker14:
I would have recommended Holluwhakemmy, 36yrs, but she's a die-hard Tinubu supporter.

Candidlady:
Check your mail ..

ebubenmuo:
Oya na let's roll

verminnel:
You can talk to me

Bornboy4:
Let me know you better.
I live in Benin City also.
Let's chat please...

ghettochild4u:
Whatsapp me +27737839889

Elena247247:
been there and knows how it feels. You can text me up

Greatzeus:
Sorry about your ordeal,such is life,UPS and down, but you cannot and must not give up, because the darkest night is closest to dawn. Your breakthrough is around the corner.
Good initiative getting friends to talk to and rub minds together regarding business and other salient issues.
Won't mind being a friend but I'm an introvert too,I comment on nairaland like once in a blue moon.

dauntless15:
Yea we can be friends, reach out to me.

gratefulheart:
You to get out of depression with online friends or by sharing money making ideas. If you even know how to make money, you won't have lost money. Feed your soul, you will walk over depression. Stop sounding myopic.

Do the followings:
1. Have conversations and hangout with your family and real friends.
2. Minimize your time online.
3. Listening to soul lifting music (I prefer gospel music)
4. Real your Bible and other inspiring book.

jetwonder:

You need to recycle your brain!

brain54:
I don't mean contagious like chicken pox...

Or covid.

But it's a known fact that if you stay around a depressed person it's likely to affect one's emotional state or mood.

Observing someone's behavior can actually influence one's own thoughts.

Try and seek medical help for your depression Bro.

Making friends might not be the cure alone for your depression.

Or maybe you used the word "depression" loosely though!
🤔