Maximizing Black Friday Sales with Facebook Remarketing
Welcome to the Black Friday Growth Guide Series, your ultimate roadmap to e-commerce success during the year's busiest shopping season. Over the next two months, we will dive deep into the strategies, tactics, and tools that can significantly impact your Black Friday campaigns.
Today, Black Friday is not merely a one-day shopping event; it has expanded into a season in its own right. To thrive amidst this highly competitive environment, you must have a comprehensive strategy covering every aspect, from pinpointing your target audience to fine-tuning your campaign for maximum impact. This is where our Black Friday Growth Guide series comes into play.
This series will guide you through each step of your Black Friday journey. We'll emphasize the critical importance of early preparations, exploring how securing inventory and refining your marketing strategy can set the stage for success. We'll also provide insights into essential e-commerce strategies to boost your sales during the Black Friday season, from optimizing your website for a seamless shopping experience to creating irresistible promotions.
Unfortunately, the new addition of paid marketing has made the life of the average marketer more difficult. Or has it? Getting into digital marketing was probably one of the more confusing journeys that I’ve had to follow. From the free courses to the misleading information, it could be easy to get lost in the void when it comes to this field, but does it mean that it's hard to learn? No.
Especially when it comes to meta ads, it's much easier to learn by doing, and as the sacred e-commerce day of Black Friday is coming along it's now time to learn how to maximize your returns with remarketing!
While it would have been easier for me to just write about meta ads being important, it's much easier for you to understand it by seeing it. With more than 3 billion users worldwide, Meta ads are now a critical part of every digital marketer’s arsenal. There are people who make their whole career over learning how to perfect this one platform, and hey, that could be you after following our handy black friday growth guide. I’ll stop the fluff; let's look into remarketing and how to launch your first remarketing campaigns on meta ads!
Remarketing ads make 400% more sales than other campaigns
Remarketing means that you’re interacting with people who have interacted with your brand somehow. It can be through social media by leaving likes or by the interactions they’ve had on your website. Accordingly, you might wonder, what information do we have on them when they visit our website?
Imagine you see a fabulous, flashy t-shirt ad, and out of interest, you decide to check out the new brand’s website. You may not know this, but the website tracks your every move, every click, the amount of time you spend on each page on average, and the number of pages you’ve visited in a single visit. Sounds creepy, right? But the truth of this situation is that your behavior on their website can help them predict if you’re likely to convert to a customer.
Types of Remarketing Campaigns
In this entry, we’ll be focusing on DPA and Conversion Campaigns.
Dynamic product campaigns, or DPA for short, are a special type of campaign that feed into your product catalog and show your consumers the exact products they have expressed an interest in. There are a few reasons why they work so well:
- It’s all automated, so you don't need to spend time making ad creatives
- It can increase your conversion rates
- It helps you get more detailed insights into what products work or not
On the other hand, conversion campaigns are used when you want to highlight a set of features about your product and consist of adding custom ad creatives (think traditional media) and then using those creatives with created captions to attempt to invite potential audiences into your website. In some ways, this type of campaign can be useful:
- You can create custom creatives that might have a higher chance of attracting your audience
- You can target specific actions on your website, such as sign-ups or sales
- You can target more specific audience segments than with DPA campaigns.
Facebook Remarketing- Step by Step How to
As I said before, it's so much easier to learn by doing, so instead of wasting your time like some generic article, let's make our first remarketing campaign together.
- Access Meta Ads Manager: Log in to your Meta Ads Manager account.
- Choose Your Objective: Click "Create" to start a new campaign. Select your marketing objective, and for remarketing, choose the sales objective and compete with similar bids in order to get the best bang for your buck
- A/B test and Advantage+ setup: Set up the A/B test function when you have a sufficient budget and time to test the ideas; take into consideration that an “appropriate” budget size will vary based on the industry. Only use advantage + when you have too many ad sets since it could result in uneven budget optimization
- Adset options: First, choose the appropriate conversion location, such as the website, app, or both. Then, choose the performance goal as maximum conversions, apply your pixel, and set the conversion event to purchase. Keep in mind it's difficult to optimize your cost per result when you’re starting out.
- Audience settings: It's very important to mention the region settings of your audience and the appropriate age for your business demographic and gender if applicable.
This is important. Pay attention
What audience settings can you choose for your remarketing campaign?
This was previously discussed in my earlier blog, “Better Audiences on Black Friday”. However, I’ll briefly cover the basics. For remarketing audiences, there are four main categories for audience selection. Three of them: All website visitors, product viewers, and add-to-cart. Cover the depth of your website/app.
- All website visitors cover all of the audience that has visited your website.
- Product viewers cover the audience that has viewed one of your products.
- Add to cart covers the audience that has added one of the products to the cart to check out but has not made a purchase.
AI Audiences cover a wide range of applications that use machine learning and artificial intelligence techniques to find the best-converting customers. There are a few benefits to using AI audiences instead of the rest:
- They’re Based on website visitor behavior and use more variables in their analysis as compared to add-to-cart website visitors and product viewers.
- Real-time Audience Updates make your job easier by introducing less human error and making manual optimization a thing of the past.
- Automatic custom audiences
- Faster Campaign Insights due to a better understanding of audience behavior.
What's the best ad placement for my campaign?
- Choose the proper placement for your relevant audience presence
- If you have a stronger Instagram presence, choose only Instagram
- If you don’t have a stronger Instagram presence, choose Facebook and Messenger
- Audience Network is relatively new. Consider testing it for your brand if applicable
What's the best ad creative for my campaign?
Here, we strongly recommend you provide the link to the product and keep browser add-ons as none. This is to prevent further human error in preventing you from getting your ads success.
Providing direct product links and keeping browser add-ons to a minimum is all about optimizing your ad campaigns for success. It makes sure that users can easily access your products, minimizing any problems with conversion and ultimately enhancing the overall campaigns.
For the amount of ad creatives, it depends on the type of campaign. If you’re launching a DPA campaign, then the ad creative is automatically your catalog, and there is no need to proceed with the ad creative work. In the case of conversion campaigns, then you have to create different ads for each of the products you’re trying to market. You have to go through the previously mentioned process for every single ad creative one by one.
How do I monitor my ad performance?
There are approximately 9 dimensions to checking your ad performance.
Reach & Frequency
Reach refers to the total number of unique individuals who have seen your ad or content at least once. It's important to assess how many potential customers your campaign was shown to. Meanwhile, frequency is a measurement of how often your target audience has been exposed to your ads within a specific time frame. What's important to know is that the contrast between reach and frequency helps you understand the balance between ad exposure and audience fatigue.
- If Reach is a small proportion of the audience you’re trying to reach, then your campaign lacks the budget to reach the rest of your customers
- If Frequency is too high, that means with the budget, you are able to reach the whole audience and show ads too frequently, which means that you can decrease the budget
- Frequency Caps might limit your ad's potential; you might set the frequency cap to 5 and lose customers that could have been convinced on the 6th showing
CPM (Cost per thousand impressions)
CPM represents the cost per thousand impressions, showing you how much you pay for every 1,000 times your ad is displayed. We use it to better understand how well your ads are using your budget.
- If the CPM is increasing over time, that means that other competitors are trying to reach the same customers, meaning that you need to increase the budget proportionally to optimize your reach
CTR (Clickthrough Rate)
CTR calculates the effectiveness of your ad by finding the percentage of people who clicked on your ad after seeing it. It's a key performance indicator for understanding your ad engagement.
- If an ad creative has a low CTR (conversion campaign), this means that it's not resonating with the intended audience
- It can also mean that the intended audience isn't being targeted
CPC (Cost Per Click)
CPC is the cost you get every time a user clicks on your ad. It's important to determine how much you pay for each interaction with your ad.
- Not a must for remarketing campaigns, but it's good to keep an eye on this value and make sure it's not too high. It means that the ad creatives aren't working
Conversions are the goal of your remarketing campaign, and they are the specific actions you want a user to take after interacting with your ad. For an e-commerce business, your conversion is understood in terms of sales, and accordingly, it's very important to analyze the rate of the percentage of this metric. Understanding and optimizing your conversion rate is crucial for evaluating the effectiveness of your ad campaigns.
- This is the most important KPI for your remarketing campaign; if you aren't getting any conversions, check the campaign presets, like the caption, and make sure that they are correct. At this point, consider the recreation of ad creatives as well.
Cost per Conversion (CPR)
If the cost per conversion is high, that means:
- You are able to reach the potential customers, but you’re also showing your ads to irrelevant audiences over and over again, which will drive up your cost per conversion or cost per result
- This is strictly related to the target audience
- Should never be higher than the cost of your product
The conversion rate is the percentage of users who took a desired action after interacting with your ad and making a purchase (in terms of e-commerce)
- If the conversion rate is low, you are either reaching the wrong audience, or you need to recreate your ad creatives to resonate with your target audience
Return on Ad Spend (ROAS)
ROAS measures the effectiveness of your advertising efforts by comparing the revenue generated compared to the cost of advertising. It provides insights into how efficiently your ad campaigns are driving revenue.
- Total Ad Revenue / Total Ad Spending
- If I increase my ad budget, will my returns increase?
- This is one of the most important KPIs to better understand how your budget is being utilized
- None of the other KPIs matter if your ROAS is under 1. In that case, you aren't breaking even on your investment
- The higher the ROAS, the better
Unfortunately, this is all hard to optimize manually
- Learning Phase Wastes Money: Manual optimization of advertising campaigns has a steep learning curve. During this learning phase, ads may not perform well, resulting in wasted ad spend. This is especially important for time-sensitive events like Black Friday, where every penny counts.
- noptimized Ads are Costly: Advertisers must always monitor and adjust their campaigns manually. Ads that aren't fine-tuned to target the right audience and get the intended message across can end up costing more without delivering the expected results.
- Finding the Target Audience Takes Time = More Money: Identifying the ideal target audience manually can be a time-consuming and costly process. Every dollar spent on ads shown to an irrelevant audience is a dollar wasted, especially during high-stakes events like Black Friday.
- Long Feedback Cycles to Improve Paid Ad Performance: With manual optimization, it can take a long amount of time to collect data, analyze results, and make changes. This longer feedback cycle means that you lose opportunities to refine ad performance, resulting in worse returns.
- Too Many Sensitive Parameters: Manual optimization requires handling a lot of parameters like ad creatives, audience segments, and bidding strategies. The relationship and effects between these factors is complicated and require constant efforts, making it challenging to achieve the best results.
- Results Are Subject to Change According to Option Change: Making any changes in optimization can have a bigger effect on campaign performance. Changing one aspect of a campaign will impact other components
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