So I have found a little success with one audience but it is huge and the costs are pretty high. The audience size is 11 million and it costs me anywhere between $6 to $23 for somebody to initiate checkout. The audience is simply targeting the behavior men's apparel buyer, that is an 11 million person audience.
I spent $100 dollars to try this audience out sending them to this specific product: http://bit.ly/2sRHyAw
I saw some success with this product and would like to get this to a more specific and targeted audience so I can get my cost per sale way low.
Does anybody how any specific suggestions for target audiences to add on to this so I can narrow this down and get a low low cost per sale?
Facebook ads are the way to go today. You are absolutely right in prioritizing audience over everything else (creative/copy etc).
Firstly, make sure you have facebook pixel on your website. This will help you identify your website visitors and retarget them with your ads. Since retargeting ads are the most effective, this should help you lower the cost per checkout. Facebook pixel will also help you to reach out to the people who landed on your website via search engine/emails/blogs/videos.
Second thing I would advice is to have a very careful look at the ad performance across various dimensions such as gender,age,geography,device. For example lets consider the cost per checkout across age groups. Let's assume that you observe that cost per checkout in age group 18-24 is $3 where as the same for age group 29-35 is $29. In this case you can exclude age group 29-35 from advertising and then compare the ROI.
Apart from ads, have you looked at organic growth on social media as well?
It lets you target your potential customers at almost no cost. Although organic growth requires a lot of investment in form of effort and time, Orangetwig helps you in minimizing your effort and time and provides you with a lot of design options.
Also at Orangetwig, we are building a new Facebook Ads product.
Let me know if you are interested and I will be happy to give you a free trial of the product.
Happy advertising :)
You could try refining your targeting based on other factors like recency, age group, and location. If you know of similar brands, you could also use that too.
If you're looking for a cost-effective way to drive quality traffic to your store, then it'd be worthwhile to check out the Ads app:
Free Ads Exchange - https://apps.shopify.com/ads
Free Trust Seals with Reviews Generation - https://apps.shopify.com/trust
Free Conversion Checkout Timer - https://apps.shopify.com/conversion
Firstly, congrats on managing to get an audience. This really is a trial and error process. You are right to be using facebook as this is the place to be. As those above mentioned, have a look at the various demographics like gender, age, location etc and narrow it down that way. If a particular interest or age etc is too costly then ignore that and you can come back to it in the future.
We are also looking at finding a good audience that we can then play with. we have experimented with a few but none have brought us any sales.
It is all a matter of not giving up.
Try to track your visitors and find out which visitors purchase from you and which don't. After you find these visitors, you can target an audience on Faccebook which is similar to them.