Have you ever wondered what a lead form does? Or more importantly, what a lead form is?
Let us break it down a little. A lead form is a box with labels and fields that has a call-to-action button.
Companies implement lead forms on their websites for potential customers who are interested in purchasing a product or to receive newsletters so they know more about your services, promotions, and more.
The 5 Ultimate Tips for E-Commerce Marketing on Facebook
With over a billion users, Facebook is undoubtedly the largest social media network. As a result, Facebook is a fitting platform for e-commerce businesses to expand their advertising reach.
With a plethora of users across varying demographics, it gives you the opportunity to acquire new customers on a larger scale. That’s not all; with the data Facebook provides, you’re also able to retarget existing ones easily.
If you are operating a business digitally and have yet to capitalise on Facebook advertising, you are missing out on this amazing opportunity to grow your business.
By the end of this, we hope you’ll have a clearer understanding of the right steps to take when tackling Facebook advertising strategies. Here are a few tips on how to boost your Facebook advertising strategies.
Tip 1 :
Product Catalogue based Advertising
The Facebook Product Catalogue acts as an online brochure for your business. This is super helpful because it can help you showcase multiple products in one ad. Let’s take a look at why this ad type is so effective:
Increased Conversions – Since, the catalogue helps you display multiple products within similar themes, users can browse through your range of products without ever leaving Facebook. Showcasing multiple options is a proven method to improve the number of conversions/sales for your business.
Tailor ads based on your users – You’re also allowed to set filters and select inventory that can be catered specifically for your audiences. For example, you can decide to show your products based on 3 options:
- Show products from your business category to potential users who might have a high interest in your product or services. For instance, if you run a bakery business, you can show your best selling cakes to users who have a high interest in food & beverage pages.
- Show products only with a high discount value for the bargain hunters.
- Show products with prices under $5 for the specific student audience you aim to target.
This method is proven to work with an efficiency of up to 300% more as compared to other ad formats. Here are some facts and figures from a recent Adobe study regarding multi-product advertising;
- Increased Click Through Rate (CTR) between 50% to 300% for brands using the product catalogue.
- Decreased Cost Per Click (CPC) of up to 35% due to a higher engagement rate.
- Improved CTR and decreased CPC ultimately leading to much more efficient Cost Per Acquisition (CPA)
It is important to remember that Facebook advertising is a complex engine that relies on multiple factors. However, this is a great start towards systematically improving your results.
Most business owners tend to experience a common roadblock: high traffic but low purchase rates on their website. Does this sound familiar to you? When this happens, the reason is often because you’ve managed to attract users who are genuinely interested in your products but they fall through before completing the checkout process.
A recent study has shown that almost 72% of online shoppers end up abandoning their carts. Even more worryingly, only 8% of these users that abandon their carts ever come back. So, how do we get them back?
The solution is simple: start running retargeting campaigns from these curated audience lists. Additionally, by combining this with the previous multi-product advertising tip, you can advertise the products on the abandoned cart back to the specific user! Running an efficient retargeting campaign can bring ROI of up to 10x as compared to attempting to acquire a new user.
Retargeting campaigns are especially useful if you are concurrently running promotions or campaigns on your business website as it allows you to reach out to users who have already shown their interest in your products with further discounts or promos.
Utilising Facebook Pixel for Event Tracking
If you’ve not been using the Conversion Tracking Pixel, chances are, that your ads are not as efficient as it can be. The Conversion Tracking Pixel is a code that can be pasted on your website to track the behaviour of those who have visited your site. By implementing this pixel, you would be able to track the number of conversions to your individual campaign, ad set or ad.
Conversion Tracking Pixels are especially effective when paired with the Campaign Budget Optimisation strategy. These data signals help Facebook with deciding on the right audience to target which will then improve the results of your campaigns. In other words, it is an element that can ensure the ultimate efficiency of your advertisement spends.
Tip: This step is a key part of the account setup stage. Hence, before running any type of campaigns, you should always ensure that you have the right assets connected to your ad account. By doing so, you will give Facebook enough time to learn more about the users on your website who are converting.
Discounts and Thematic Sales
Running discounts are a great way to acquire new customers regardless of the industry you’re in. What can we say? People LOVE discounts! Even people who are not actively looking for what you’re offering, might end up making a purchase just because they can try something new for less.
The Offers feature on Facebook ads makes it easier for people to take advantage of your promo as they won’t even have to leave Facebook. Once a customer clicks on the Offers ad, they’ll immediately receive a code they can use. Another cool thing about this feature is Facebook allows you to show the number of people who have taken advantage of the offer.
This so-called social proof is a great way to convince people that they should grab your offer while it lasts. It’s like giving a little nudge that if other customers are enjoying the benefits of the offer, then why shouldn’t they? That’s the mindset that you should like to cultivate in potential customers.
With that being said, there are many ways you can position your offers. For instance, you can run a discount ad if you have:
- An introductory product
- A special giveaway for any product purchased
- A brand anniversary sale, etc.
Social Media with Giveaways / User Acquisition (Non-Paid)
Undeniably if you own an e-commerce platform your goal is to sell your products. However, we wouldn’t recommend that all your ads should be about selling. Yes, although that sounds like a contradiction, you should know that people often stay away from obvious advertisements. So before you run an ad, ask yourself ‘what’s in it for my audience? What value do my ads bring? ’. Do you want your customers to stay informed, educated, entertained?
Coming up with creative and informative ads can often convince people to buy into your brand rather than buying the product. Hence, it’s a direction worth thinking about. However, just make sure that these contents are not random and should have a real connection with the nature of your business.
If you would like to know more about our Performance Marketing services, drop us an email at [email protected]. Good luck!