Facebook is no longer just a place to connect and socialize with friends and family; with over a billion users, the platform is an e-commerce goldmine. Businesses can leverage Facebook ads to gain deep engagements, build awareness, and maintain relationships with customers.
If you work in e-commerce, then it’s likely that you’re constantly looking for new ways to increase profit margins and drive sales. So, as the saying goes, “work smarter, not harder” with Facebook ads. With over a billion monthly active users spending around 20 minutes a day on the site, the platform is abundant with opportunities for sales. That is, if you know how to use it correctly. Here are the top reasons why Facebook is vital for your e-commerce business and tips for optimizing your investment.
Target Your Customers Where They Spend Their Time
Many businesses are already seeing the benefit and taking advantage of the advertising opportunities on Facebook – six million, to be exact. One of the most appealing features of Facebook ads is the ability to target your audience based on a number of different factors. These include their behavior, interests, location, demographics, age, and more. This is particularly helpful if your target audience is limited to one gender (for example, women’s clothing) or if you have specific geographical limitations. This ensures those who view your ads will find them relevant, thus increasing the chance of conversion.
In fact, Facebook even allows you to design Custom Audiences by uploading data taken from your website, with your permission. This can then be used to target and retarget customers and those who have viewed pages of your website or visited at a specific time.
Sales Funnels to Drive Conversions
Let’s say you have identified two different target audiences for an online clothing store that carries both used and new items. One persona may be more interested in unique statement pieces, while the other is more drawn to the eco-friendly, slow-fashion side of the business. For the latter, you may want to set up a sales funnel.
To attract the slow-fashion persona, you could start with a blog post about the ecological impact of buying second-hand clothes versus brand new items, while highlighting some cool pieces you have on the site and how to style them. By using Facebook’s targeting tools, you can promote the blog to your audience and drive traffic to your website. You can then retarget these visitors by gathering information about them from your site, perhaps by asking for an email address to receive a special discount. Once you have a list of people, you can create a Custom Audience in Facebook and retarget these people with ads that are more likely to convert because they’re warmer leads.
Facebook ads can start seeing results for as little as $1 per day, making it an affordable e-commerce opportunity you don’t want to miss out on. However, depending on how competitive your industry is and what your goals are, you may need some extra dough. The good news is, you can start small and work your way up as you start to learn what works for you on the channel. After you’ve got a bit of experience running Facebook ads, you’ll be able to evaluate them, identify and terminate the poor performers, and increase spending on the successes.