FB Retargeting Strategy

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Excursionist
56 0 5

Hi All,

My store has been open for ~10 weeks. I'm confident that it can be profitable, but I really need to optimise my marketing.

I am approaching all of my cold traffic through FB adverts at the moment, and want to get in place a good retargetting pipeline. I would really appreciate some suggestions.

I have, what I think, is a well perfroming ad set for cold traffic. It's bringing new people to my site for ~£0.04/click, and getting an ROAS of ~1.8

This isn't really making or costing me anything. It's pretty much bvreaking even, but is acquiring me customers and email addresses, so although my cold traffic campaign isn't directly profitable, I feel I'm getting a lot out of it regarding brand awareness, customer base, reputation, etc. I'm sure this could be improved further, but what I want to focus on is getting a retargeting ad set(s) that is actually profitable in place.

I have experimented a little with retargetting to all recent visitors of my store that have not purchased. This groups is typically ~5000 people.

I had one ad that with the headline "Meet the founders" and directed people to our about us page. This was doing really well, it had an ROAS of about 4.5, and my goal for the margin I want to get initally would require a ROAS of >4.

The problem is that this was very short lived. It maintained a > 4 ROAS until the ad frequency climbed to ~3, and since then it's been getting hardly any conversions. I guess this is because it has already hit all the people that will convert from this ad, and then is just showing it to the others again and again, and this is not what they need to see to convert.

I'm planning on altering my audience so that if they have clicked on this ad they will not see it again, and reducing my add spend on it so that it slowly works through my recent visistors that havent't purchased so it mintains a consistent ROAS for longer.

Is that a good approach?

Then what?

I want to figure out other good ads to show recent visitors that aren't yet customers, as well as a follow on ad for the people who clicked the "Meet the foudners" ad but still haven't bought?

Any thoughts?

What reservations might these pople have. And how can I address them?

They're spending time on my website, and coming back to find out more about the company, but not converting.

This is my first store, and I'm having great fun learning about ecom and filling a need for my customers, and I'd really love to learn from your expereince to grow my business.

Any insights are truly appreciated.

Many Thanks,

Steve

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Pathfinder
233 0 33

Hi Steve,

I have a few remarks regarding your business.

First, I know you didn't ask for a store feedback but I checked it anyway and I really like it, especially because I can really see you're keen on what you're doing. There's just one thing, your Facebook link is broken (https://skullvikings.com/www.facebook.com/SkullVikings/www.facebook.com/SkullVikings/).

Regarding the marketing, it's a big advantage that you're well familiar with the products you're selling and you know the right audience as you're one of the modern Vikings too.

You're only using Facebook ads now but I think Google AdWords could be useful to try too. I've read on your website that it was difficult for you to find some of the items you wanted. There may be a people searching for the same stuff, so what about Google  Search ads or Google Shopping?

On Google Display Network, you can also target topics or placements. You can set the ads to be shown on your favorite websites related to Vikings history or culture (I'm sure you know better than me) or you can choose the topics of the website where you want your ads to be shown.

You said you were experimenting with retargeting all of your previous visitors. Have you also tried dynamic retargeting? It's a special type of retargeting where the ad is dynamically changed to contain products your customers viewed on your site. It's usually quite difficult to set up but our app ROI Hunter Easy can help you with that.

Regarding your "Meet the founders" ad, I believe it's a good way to build brand awareness but you're right that it doesn't make much sense to show the same ad many times. Writing a blog and promoting the posts could have the same effect but it takes a lot of time to create a meaningful blog.

You're still at the beginning so you'll probably need to try many types of ads and many ads channels before you find out what is the best for your business but I believe it will be worth it!

Good luck,

Katerina

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Excursionist
47 0 13

Hi Steve,

as Katerina said, if you are going to use Google Adwords then you must have a look on "What is negative targeting?"

it will really help you to save your bucks by unnecessary clicks from the customers who are looking for the other thing but your advertising is displayed by the Google.

I hope it will help you.!

let me know if you need any other help. i will try my best :)

 

car vacuum cleaner | car care products | car detailing products | Car Polishing Machine | car care India | car polish
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Excursionist
56 0 5

Thanks for the advice.

Katerina, thanks for the site review as well, I have posted my site a few times for review and not gotten much feedback, so that's appreciated. I've fixed the FB link that you highlighted.

Google Adwords is definitely in the plan, but I just wanted to get my FB funnel profitable enough first, and make sure that it's retargetting people who are already familiar with me, instead of letting them forget who we are. Once I have that in place so that it's doing better than breaking even, then I intend to startup Google Ads. I can't really afford to do too much testing and exploration in both at the same time.

I hope that's a sensible strategy.

Dynamic FB ads is something I want to setup very soon, but it looks like a bit of a pain to get setup, but it's high on my priority list atm.

Where would dynamic product ads fit into the funnel?

If someone has visited my site once, do I want to start hitting them with dynamic product ads immediately, or something brand building for people who have vistied within the last few days, and then dynamic product ads for people who followed the first Ad?

At what stage in the ad funnel whouyld you start focussing on specific products rather than brand?

When, if at all should I promote dicounts through retargetting?

I know it's different in every case, but I'd really like to get an idea of what you've tried in the past. what worked and what didn't?

Thanks for the help.

Steve

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Pathfinder
233 0 33

Hi Steve,

This really depends on many factors and I don't know a lot about your customers but I got a few thoughts.

If the customer only visits your homepage and leave immediately, they're probably not very interested and I don't think retargeting could be successful. You should concentrate on customers who browse your website and view at least some products or categories.

Both brand and product ads could work well with these customers so I guess it would be good to combine them. I understand you can't afford a lot of testing but at the beginning, it's really hard to guess what will work best.

Usually, if the customer adds something to their cart, they're very likely to buy and you can concentrate on dynamic product ads. Please note that if the number of abandoned carts is too high, you should take a look at your checkout process, there's probably something wrong.

For people who only view some products, you can combine product ads with some brand awareness (but try not to repeat the same ads).

Katerina

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Excursionist
56 0 5

Thanks Katerina,

That's great to know.

Are the dynamic ads just for showing to people who add to cart, or also for people who viewed products without adding?

My bounce rate is ~40%, so I might try targetting only the top 50% of visitors.

These retargetting groups will be pretty small so hopefully I wont need a huge budget to do some testing over the next few weeks.

Thanks again.

Steve

 

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Pathfinder
233 0 33

Steve, the dynamic ads usually work the best with people who abandoned their cart, it's not a surprise that they're most likely to buy, but they're also good for people who just viewed some products.

I hope it's gonna work great for you.

Katerina

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Tourist
8 0 1

Hi Steven,

great niche site, congrats on that! Getting your sales funnel right is a process, and I think you're already on a great path. If you're actually getting interested customers to your store for 0,04 CPC, that's really good.

I wrote this article about a basic funnel setup for Shopify & Facebook. It's very easy to replicate, so give it a whirl. 

Can I ask how you are targeting at the moment? If you have some sales already (30+), you can try our app Looga, which creates Facebook Audiences for you with people similar to your best customers. Our Lookalike Audiences are excellent for prospecting, and the Custom Audiences can be used to cross-sell to your existing customers.

And here are two more Facebook quick tips of mine that are not exactly funnel related, but could still be useful if you are looking to boost ROAS:

Hope it helps. Feel free to ask away about any of it.

Cheers from Berlin, Luis

P.S. Drinking out of a horn must feel so manly.

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Excursionist
56 0 5

Hi Luis,

Thanks for the response.

Firstly, YES! Drinking from a horn is the best way to enjoy your wine, mead and ale. You should definitely try it!

I initially created a saved audience that matched on a broad term related to my niche, as well as a specific term and a ecommerce term, such as 'Engaged Shopper'

After a while I tried using some lookalike audiences instead of my saved audience. I tested a few combinations based on my pre-lauch subscriber listed, website visitors (all, top 25%, etc), and a few others.

I kept the one that was working best. At that time I hadn't had a lot of sales, but now we have had ~250, so I think I may create a lookalike audience based on those customers, but I didn't know if that will be enough?

Eventually I'd like tocreate a lookalike based on all customers who spent more than my average order value, or repeat customers and see how that works.

I'll definitely have a look through your articles and at your app when I get a chance.

Cheers,

Steve

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Tourist
8 0 1

Eventually I'd like tocreate a lookalike based on all customers who spent more than my average order value, or repeat customers and see how that works.

With Facebook's new value-based audiences you don't need to do this anymore. With each customer you send them, you also send them a lifetime value and Facebook will optimize their ad delivery to reach the customers with the highest value.

You can manually calculate a lifetime value per customer, but this can be tedious and you should really do a lifetime value prediction, as some customers may be rebuyers. That's what Looga does.

At that time I hadn't had a lot of sales, but now we have had ~250, so I think I may create a lookalike audience based on those customers, but I didn't know if that will be enough?

This should definitely be enough. Of course, more data is better (up to 50k), but 250 people is plenty to get started. Facebook's minimum is 30, and I've seen good results with just over 50 customers.

When you build Lookalike Audiences, build them on value-based Custom Audiences. This way, the characteristics of your most valuable customers will be emphasized.

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