Riddle me this… I happen all the time yet I leave as quick as I arrive. I create great wealth but bring even greater risk along with me. And lastly, you can build your life’s profits off of me, yet most don’t even realize that I exist.
What am I?
If you guessed a “consumer trend”, you are spot on. Marketing on what the public sees as popular or fashionable can be a risky business. But when you see trends coming, they can be the source of a hefty payout.
Before I get into the theory and logic of how consumer trends work, let me take you along on one of the craziest weeks in my life where I made over $10,000 off of one single product.
The Trend & The product
January 21, 2018–8 p.m.
The Philadelphia Eagles had just won the NFC Conference game and were going to the Super Bowl. You know what that means — a huge consumer trend was about to hit the market. This time it was dog masks and I was going to get in on it.
Now if you’re not a pro football fanatic you might be wondering, how did you make $10,000 off of dog masks? The week before the Eagles opposed the Falcons in the playoff game, reporters made comments calling the Eagles the “underdogs”. Defensive end, Chris Long, and offensive tackle, Lane Johnson, weren’t so pleased with their projected outcome by the media and decided to wear dog masks during their post-victory interviews.
So, I quickly set up shop, found a dog mask with high reviews, ordered a couple hundred, and started posting ads. Within 5 minutes, I had 53 people on my site and 8 orders. I set my campaign on a broad match with keywords like “underdog mask”, “Eagles dog mask”, “german shepherd mask”, and so on. I was literally watching one sale turn into hundreds before my eyes.