Trying to learn a bit more about the marketing spent on your sites and where (which sites) you spend it.
I run a small business with no sales yet and would love to learn more about what I would need in order to make my business succesful.
My service focuses on providing educational services to latin american individuals hoping to study in the US. As a result it would be tough to hire influencers or utilize pictorial places such as instagram or pinterest to get traffic.
Would love to hear your thoughts.
Rob here with the Shopify Guru team. I'll chime in first though I'm sure you'll have plenty of other advice. I am a business owner as well and trying to figure out this question myself. I think the cost of marketing really is dependent on your niche and your store itself. In fact, in some instances I don't believe putting money into marketing is not necessarily the right move.
Here are a few things I recommend:
* Forge some good cross-promotion opportunities with other shops
* Facebook is a fantastic way to connect with customers and really expand your brand and drive traffic into your store. Facebook Ads is a consideration but not necessary as it is paid advertising and I think nowadays there are so many free outlets for advertising with Social Media
* In my experience, Google Adwords: https://docs.shopify.com/manual/apps/apps-by-shopify/google-shopping/adwords is a great advertising option and if you plan on paying money. I've seen it show you significant growth in traffic to many sites. I used this early on in my shop and I saw Traffic spike signficiantly and almost immediately.
Establishing your brand is going to be the important thing. This might include just spending time in forums or groups that your particular shop caters to whether it be educational groups or Latin American groups. You're right where Instagram and Twitter may not be ideal outlets for you but Facebook could showcase some really terrific growth overall.
My shop is more of a retail type platform and I've spent approximately $100 in Google Adwords in May but am focusing heavily on Facebook and Twitter right now.
Hope this helps 🙂
So here's how I approach marketing costs as it relates to my ecommerce businesses. One word... quantification.
If you can spend $1 to make $10 how many times would you spend $1? As many and as fast as you can right? So the key thing here is tracking. You need to be able to track your ad spend by source and corolate it to sales made. You can do this fairly easily using an analytics tool like Goolge Analytics.
Now as far as ad spend- I spend aprox $200,000 a year across 2 ecommerce businesses and that generates multiple 7 figures in revenue. But again, I can make sure all my ad spend ROI's because I can track it properly.
Hope that's help. Let me know if you have any other questions.
I totally agree with LJS, as long as the ROI is positive and you can track the sources that are working for you, you'll be able to make this a success. Make sure to create an eCommerce goal on Google analytics.
I'm part of StoreYa's team, and our most popular service is called the Traffic Booster
StoreYa developed an algorithm for targeting customers per industry and store, and get the best value for money that no one single business can gain on its own.
Requiring only 3 easy steps to be done by the business owner, StoreYa automatically setup, manages and optimizes targeted traffic from Google AdWords, Facebook and other large ad-networks. The Traffic Booster doesn't rely on re-targeted traffic, so it fit any size of business.
The algorithm includes:
1. Automatic bid optimizer - real time bidding that finds the most cost effective bid for your campaigns at any given time.
2. Dynamic keywords & ads - real time adjustments of the keywords, ads and the most relevant category or landing page at the web site to the search queries seek on Google.
3. Learning machine - constantly use the most suitable advertising method for each store.
You are welcome to try it out here >>
Feel free to contact me directly, I'll be happy to further assist.
You can't currently find your Ad Spend & ROAS on the Shopify Platform since it doesn't import the costs from the marketing channels. There are 2 ways to do it: