I've just launched my store.
I've set aside a budget for paid ads. How do I find out which is the best way to spend it?
Is there someone who would do a competitive analysis for me?
Some of the people I reached out to only do Google/FB ads and are pushing for that. Paid SEO seems to be another specialty. YouTube may be too expensive but my competitors are on there for sure.
I need the whole picture.
First of all, congratulations on launching your store. The website looks very nice I wish you all the best.
Every company is different, and should have its own marketing plan. I would like to recommend this book as it gives an overview of potential acquisition channels new companies could try.
Google and Facebook are a good starting point because of their immense network. What I mean is that most of your customers will be on Facebook and Google, so it makes sense to interact with them there. In general, Google is very good because you can target specific search terms you would like to advertise on. For example, I see you have a special page for "dining chairs". There are between 100,000 and 1,000,000 MONTHLY searches for dining chairs in USA. I see no reason why this audience would not be a good fit for your company. Of course, not all of those 100,000 people are looking to buy, but this is a monthly figure, you only need a percentage of that (and dining chairs are not your only product).
For Youtube, the biggest problem (from my perspective) is creating the video. Since you are just starting, I don't know what kind of budget you have to create a video, but you need to have a good video. Once you have it, you can get 1000 impressions (the number of times the video was shown as an ad) for $15. But this heavily depends on the audience you select.
On the other hand, Facebook is very good because you can get very detailed with whom you want to target. This would give you a lot of room for experimentation.
SEO is always a good idea, but that takes time to take effect (at least a couple of months).
This is just a couple of thoughts I had. If you want, we could talk more.
First of all, I must say I really liked your website! Looks very professional.
You might want to try AdScale for your advertising campaigns on Google & Facebook.
It automatically creates and manages advertising campaigns for your store, using advanced AI technology. What's unique about AdScale is that it use insights from millions of active campaigns in order to create a very accurate audience targeting that is tailored to your store and products. Our customers' average ROAS is 1,000%!
You can learn more about how it works in this video: