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Did you know that Facebook and Instagram collectively have over 4 billion users worldwide? Yes, you read that right! To put this staggering number into perspective – the population of India and China when combined is around 3 billion! These social media giants have grown to such mammoth proportions that it’s impossible to imagine a world without them today.
Facebook, particularly, has become a melting pot for E-commerce activities in recent times. Businesses of all sizes and verticals are vying for the attention of Facebook users and trying to convert them into customers.
But what differentiates the successful ones from the rest? Simple – effective utilization of Facebook Ads. These successful E-commerce businesses have adopted several innovative strategies that have helped them drive huge traffic to their online store. In this post, we will take a look at 10 such high-growth strategies and how to adopt them in your business.
Both Custom Audience and Lookalike Audience are Facebook features that allow you to target users with similar characteristics as your existing customers and followers. The difference between the two is that while Custom Audience is created based on people who already have a relationship with your E-commerce business, Lookalike Audience is created based on people who don’t know about your brand, but share characteristics with your ideal customers.
Both these techniques are great to improve conversion as the users targeted using these techniques have a high propensity to purchase from your brand.
For consumers, this ad format might look similar to other types of ads on Facebook. The actual difference lies in its creation. Instead of creating an ad for every single individual product, you create a template that will automatically populate images and product details. The products displayed will be based on users’ past actions. These ads use Facebook Pixel (will learn more about this in later sections) to track user activity and display corresponding products in the ad.
Here’s what a Meta Advantage + Catalog ad looks like –
Retargeting campaigns enable you to reconnect with users who had previously interacted with your brand either on Facebook or some other website. For example, it could be someone who clicked on an ad on Instagram or followed your Facebook page. They are warm prospects and have a higher intent to purchase from you. Retargeting them via Facebook campaigns can easily convert them into your customers.
Intent-based Targeting is the approach of finding out the specific intentions and interests of your target audience and creating relevant and personalized ads for them. A great way to implement this strategy is by gaining insights into your competitors’ customer base such as demographics and preferences. Facebook Audience Insights tool helps with this. It offers detailed insights about your competitors’ customers, using which you can create buyer personas and build Facebook Ad Campaigns for them.
Upselling is all about encouraging your existing customers to consider an upgraded version of a product for better profitability. For example, encouraging a customer to purchase an iPhone 14 when they own an iPhone 7.
Facebook Ads are one of the best ways to target such users thanks to their personalization capabilities. You can run automated Facebook upselling campaigns for customers based on their past interactions. You can leverage the data you have on their preferences, purchase history, or browsing behavior to create more tailored and relevant upselling offerings.
Cart abandonment has been a plaguing issue for E-commerce businesses for several years now. According to a study by Baymard Institute, the average cart abandonment rate hovers around 70% even today. The most effective way to counter cart abandonment is by using Facebook ads. All you need to do is leverage different features of Facebook that help in retargeting users.
For instance, you can create Custom Audience based on users who have abandoned their carts. Use it to create tailored ads that address the specific needs and motivations of the target audience.
You can also employ Dynamic Ads to showcase the exact products that users abandoned. Along with it, add relevant information such as prices and descriptions so that it will reignite interest and encourage users to return to their cart and complete the purchase.
Must Read: 17 Best Abandoned Cart Email Examples With Key Takeaways (+Free Templates)
If you are using Facebook Ads to market your online store, it is strongly recommended that you install the conversion tracking pixel. Pixel is a data-gathering tool that tracks ad performance, helps in optimizing them, and enables remarketing to visitors who have taken some action on your website. It is simply a piece of code that needs to be placed on your E-commerce store.
For example, a user spots one of your product’s Facebook ads on their news feed and clicks on it to visit the product page. However, they do not take any action and leave the website. The next time they visit Facebook, they will be greeted with a tailored advertisement for the same product reminding them about their unfinished shopping journey. This is the Facebook Pixel at play!
One prerequisite before you install Facebook Pixel is to have a website. Once you have created it, follow the below steps –
Facebook’s Multi-product Ads help you showcase multiple products within a single ad unit. Each product can have its own image and description. The goal of these ads is to drive traffic to your website and improve your conversion rates. For example, if you own an online fashion store, you can display the 3 top-selling shirts in this ad. Interestingly, many businesses use this ad format not only to display multiple products but also to tell a story or provide more details about a product through images from different angles. Here is an example of a Multi-product Ad –
Must Read: 11 Ready-to-Use Facebook Ads Templates to Boost E-commerce Sales
People love videos, particularly Facebook users. These stats prove this –
For marketers and advertisers, this could mean only one thing – use this trend (love for videos) to attract visitors to your E-commerce website. And the best way to do it is via Facebook Video Ads.
Facebook Video Ads are ad placements that enable you to promote your brand or products via engaging videos. They provide a great opportunity to convey your brand’s message in a more engaging way. With the help of appealing visuals, audio, and various storytelling elements, you can create compelling narratives that can attract your potential customers.
Based on their placement, there are different types of Facebook Video Ads –
Facebook’s automated rules can automatically check your Ad Campaigns on a preset schedule. It can either send notifications or make changes to the campaigns according to the action set by you in the rule. For every rule, you select the criteria that trigger the rule, the action that the rule takes on the ad, and the Ad Campaign to which the rule has to be applied. A rule can be based on an ad, an adset, or at the campaign level, but not a combination of different levels. You just have to create a separate rule if you want to target a different level.
Some of the things you can do using an automated rule are –
Besides the above 10 tips, here are a few more essential tips you can follow to master the art of Facebook Advertising –
Your Facebook Ad Funnel can be riddled with challenges and your ad campaigns can often run into performance issues. The key question is how do you identify problems and how do you know it’s time to refresh your E-commerce Facebook Ads? Thankfully there are a few techniques and tools you can use for this. Here are they –
Charts in Ad Manager: Once you click on View Charts against a campaign in Facebook Ads Manager, you will be able to view some basic information about your campaign such as CPM, Viewing Frequency, Reach, etc. all of which can help identify delivery and cost issues.
Reports in Ad Manager: This feature gives you a more in-depth analysis of cost and performance metrics. To access reports, click on the Reports button in the upper-right corner of the Ads Manager screen. Upon clicking Custom Report and changing the view to Trend, you can easily identify ad fatigue. For instance, you can spot issues in the form of reducing clicks/conversions.
Ads Manager Rules: These are nothing but the automated rules which we discussed previously. All you need to do is set cost or performance thresholds, which will give you automatic notifications when the Ad Campaigns reach those points.
A simple thumb rule when it comes to Facebook Ads is – start small. Avoid spending too much on your initial campaigns. Create small-scale campaigns and collect data on how your ads are performing. Focus primarily on metrics like Cost Per Click, Cost Per Mille, Cost Per Action, etc. for every ad. Use this data as your guide to determining the ideal budget for your future Facebook ads. An ideal starting point would be ₹300-400 per day. See how your results are faring for 2-3 weeks given the overall context of your ad campaign. From there, you can scale your ad budget.
And you must also consider your goals while determining the budget. Based on that you can develop a strategy of how you want to distribute your ad budget over campaigns or Ad Sets. For example, if your goal is a higher ROAS (Return On Ad Spend), then you must distribute more of your ad budget to those ads that will drive conversions.
ANS Commerce is India’s leading E-commerce service provider that empowers businesses of all sizes to streamline their operations including their marketing efforts. ANS Commerce offers end-to-end solutions, from performance marketing to warehouse management.
Our expertise in performance marketing can help you build targeted and engaging campaigns across Facebook to drive brand awareness, improve conversions, and maximize ROI.
With ANS Commerce as your trusted partner, you can unlock the full potential of your online store and achieve sustainable growth in today’s competitive landscape. To know more about ANS Commerce, book a demo now.
