This article will help you to gain insight into effectively tapping into your target audience, and using data to expand your market base and build your brand, all whilst growing your sales generation on Facebook.
Here we highlight three key points which get straight to the nitty gritty – our years of experience have taught us that these are unnegotiable for businesses of any size. With over two billion active Facebook users across the globe, the world really is your oyster if you can understand your Facebook audience and market, and what gets them ticking.
1. Use audience data to provide you with insight
Whether you are a small start-up or a well-established retailer selling millions of units a year, there is always more to learn about your audience, and they are ever-changing. New technologies arise daily, and there is an ever-expanding demographic of Facebook users.
Get to know your audience, invest in your audience, and ensure you keep up-to-date. Undersbehavioronsumer behavior across generations, locations, devices and time will certainly help you to improve sales. This could include data on the differing behavior of various age groups, or allow you to compare the spending patterns of people within a particular spend bracket – vital information in helping you to build campaigns that are appealing to your target audience! Setting up efficient tracking on your website is vital to analyze user behavior and find out what works and what doesn’t, allowing you to make informed decisions based on the data.
Here are some interesting examples:
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• 49 percent of all travelers surveyed through Facebook are more likely to book with providers who make it easy to buy across devices.
• A Facebook commissioned study of European buyers published in 2017 revealed that women 18+ who had bought a beauty product within the three months prior to the study check Instagram 21 times daily on average.
• Facebook data shows that 25 million people in the US are interested in fishing.
• A Facebook commissioned study in Europe, Asia and the US revealed that one in three mobile gamers is over 45 years old.
This knowledge is invaluable when it comes to planning campaigns and choosing the right message to attract new customers.
We also recommend that you learn about spending patterns and target audience behaviors during key seasons for your industry or huge retail events such as Black Friday so that you can plan in advance and never miss an opportunity.
2. Audience appropriate creatives
By understanding how your target audience works you can make important decisions which will help improve web site conversion rates. A key aspect of driving up conversion rates is ensuring that you are exposing your potential customers to the best possible creatives on their favorite platform.
This will vary across industry and location, so you best be doing your homework!
For example, data shows that 71 percent of online visits to home furnishing retailers occurred on a mobile web site or app. If you owned a home furnishings store data like this would be incredibly powerful – it should encourage you to improve your mobile web presence and to invest in your user interface to ensure visitors can easily purchase from you on mobile, or easily tap a map to find a nearby store.
Similarly, gamers are 23 percent more likely to buy or use the product being advertised when rewarded video is used vs interstitial video. Knowing this, if you have done your research and know that a large proportion of your audience is also interested in gaming, and have decided to use this audience base to try and increase sales, a rewarded ad would be an appropriate choice to produce higher sales rates.
Another thing to consider is that there are more than 250 million people who use Instagram stories each day – if you know your target audience uses Instagram, by posting either one image or a video up to 15 seconds, your advert will appear between people’s stories increasing your chances of your product being seen.
In short, the lesson to be learned here is to research your audience and their behavior, then utilize what you’ve learned to encourage your target market to choose your brand: if they like mobile shopping make sure you have unbeatable mobile-friendly creatives if they like carousel ads give them to them!
3. Optimising based on results
The research and data utilization does not end when you’ve rolled out your first set of ads, you need to optimise accordingly as your campaign progresses. Reporting, optimising and remarketing through Facebook tools allows you to make sure your campaigns reach the people that really make a difference to your sales rates. By using the data you’ve collated from your audience, make sure that future targeting is strategically focused and appeals to the right people. There are several aspects of this which enable you to drill down into what’s working with your campaigns:
• Web site purchase conversion value – this enables you to manage your budget effectively and spend in the right areas through producing reports on the cost of each of your campaigns, ads and ad sets. This is crucial, as it gives you a clear view of which direction you need to take your ads in.
• Return on ad spend (ROAS) – another key to making the right budgeting and directional choices for future ads. This is something that you should be constantly monitoring, to make sure that you have the freshest ads which produce the best results.
• Web site purchases – ultimately sales are the aim of the game, so you need to be ensuring that you are getting sufficient purchases on campaigns, ads and ad sets. Knowing and monitoring your web site purchase levels limits wasteful spend.
• Costs per purchase – this is the cost of your advertising divided by the number of orders you’ve received. Set yourself parameters of what you see as a reasonable cost per purchase, and if a campaign does not fall within this bracket within a set period of time it’s time to shake-up your ads.
The key to optimisation is to use the data as much as possible to make informed decisions.
So, now we’ve given you the three keys to ad success, there’s nothing stopping you from going out there and producing some kick-ass campaigns and seeing meaningful results!
Image credits: Pixabay