I was able to scale my store to about 3k a day in sales but today my cost per purchase on fb ads went from 2.5 to 3.4 over night. It seems as for the last couple days it had beeen increasing steadily first day was $ 1.92.
Did I burn through my target market?
I just tried to duplicate campaign and start all over.
Should I target same people with different ad set?
Hey Dariel! Gorgeous swim wear. All the ladies in my office have been checking out your site. Hope they make some purchases! ;)
Okay, let's talk ads. Great question. We get that a lot from our retail apparel clients.
There are some key questions you need to ask, both yourself and your marketing person/team/agency:
1. How do you define Cost Per Acquisition (CPA) as it applies to Facebook?
2. What attribution window do you use and why?
3. What Facebook campaign objectives do you use and how do they work together given my goals are growing customers and increasing revenue under a set CPA? Why?
4. How do you structure your account to address prospective new customers who have never seen the brand on Facebook, seen and/or interacted with the brand on Facebook, already purchased from my brand? Why?
5. What is an optimal amount of audience overlap across ad sets for prospecting, retargeting, and retention? Why do you think that and what factors would cause you to change your answers?
6. Do you include or exclude placements and devices in your targeting? If so, which ones and why?
7. What types of creative assets do you recommend we start with and do you have any requests for certain types of creative assets? Why?
We wrote a full blog post about these marketing questions and how to use them to make more sales, hope it's helpful for you.
Cheers! Good luck mate.
Congratulations on scaling your store! That is a huge accomplishment! However, increasing your traffic and sales also means you need to adjust your marketing efforts accordingly. You likely did not ‘burn through’ your target market - you just need to expand that market by making some advertising adjustments.
Here’s some suggestions for you to consider:
As you mentioned, you will want to target the same demographic but with different ads. Your existing customer base will not become repeat customers if they are continuously seeing the same ad over and over again. Let them know about the different products you offer by creating dynamic ads that highlight these items. Do not duplicate the same campaign, but rather, create something new and engaging to keep your brand fresh for the consumer.
As you scale your store, you must inevitably scale your customer base as well. It is highly unlikely that you have exhausted your target audience completely. For this reason, you need to keep evolving your ads to appeal to a wider demographic. Consider changing your ads periodically to expose more customers to more products. Experiment with different types of ads, images, and call to action buttons to see what works and what doesn’t.
How are you targeting your demographic? Are you doing it manually or through Lookalike audiences? If you haven’t done so, Lookalike audiences can help you expand your target market. Consider using apps like Pollen to help you reach a larger target demographic and market to them effectively. As your store scales up, so must your marketing efforts!
Hopefully this helps! Good luck on the further success of your store!