Interest based / Top Funnel Campaign
Similar to google, keywords also work for facebook while searching for interests. Although, facebook uses words that flash on one’s profile to fit them into a “box” that can easily be targeted by the advertisers. All this is completely based on one’s behavior, their legitimacy of data they are providing about themselves, kind of pages they like and various other factors.
What are we trying to find with their Interests?
The main intention is to target the interested audience in the subject and not the random viewer/news seeker.
The best prospects are the ones who are interested in multiple parts of a particular aspect and have detailed knowledge about the things that aren’t commonly known by all.
For instance, Messi is known by all for his popularity in football, no matter if anyone is a football fan or not, but someone who knows Kevin De Bruyne, is surely a die-hard football fan.
This is what applies while spotting ideas such as influencers, events or magazines.
Rather than targeting Kevin De Bruyne, one can also target people who are interested in both Kevin De Bruyne and Lionel Messi which would let you attract die-hard football fans who are part of the Lionel Messi fan page.
This would definitely help in filtering a lot of unwanted audience.
Cart Abandonment / Retargeting Campaign
Cart abandonment or Retargeting Campaign is when customers add items to their online shopping cart but exit the website without making a purchase.
For Instance- Someone is online on Myntra at midnight, adds their favourite outfits for purchase and suddenly falls asleep, forgetting to complete the payment, this results into incomplete purchase and now they may or may not return back. The Global Cart abandonment rate is around 75% and there is no specific reason for the same.
The possible reasons can be-
- More research
- Comparing of prices
- Trust issues
- Failure to make payment
- Waiting for sales/offers
And many more…
WHY TO WORRY ABOUT IT?
The high rate of cart abandonment exhibits that the ratio of customers beginning their purchase process but not completing it, is more than that of the actual buyers. The items abandoned are the potential source for revenue generation that is not secured as the purchasing process is not completed, as a result the goal of maximising the profit is disrupted.
How to go about this?
One can set up inclusionary and exclusionary targeting in order to ensure that people who have begun with the purchase procedure or have visited the “View Cart” pages or preliminary checkout pages (if they are there) and have not completed the order will see ads.
These ads must have some introductory offers such as hefty discounts of 15-20% or some buy 1 get 1 offers, or maybe offers of free shipping which will make these much more productive.
This shall convince the users to purchase the item at the first place and shall help to build a connection with the customer which otherwise would have not been made.
Had it ever happened to you that the product you just saw on any shopping site, suddenly pops up on facebook? Astonishing!! isn’t it?
That’s what cart abandonment remarketing does, with the help of facebook ads.
Amazon, being one of the largest ecommerce stores in the world, has a vast marketing team, a grand budget and an extremely satisfactory understanding of the customer psychology/buyer’s persona and acknowledge the fact that the majority of people who search for items of their interest and even add them to their cart, do not buy the products. To avoid cart abandonment they install a facebook pixel in order to retarget people who have been browsing.
For instance, a person wishes to buy a bed sheet but his mother doesn’t want him to buy online, so the mother might see Ads with just a reminder that amazon sells bed sheets, whereas the man probably will get to see ads with offers on the bed sheets as per the websites behaviour.
If somebody has added a mobile phone to cart or wish list then they are further in the buyer journey, but there may be underlying reasons holding them back. In that case, Amazon will create Facebook adverts with offers and discounts with the hope that it will tip you over the edge and they might buy.
Retargeting an abandoned cart effectively really can make the difference between a successful advertising campaign and an unsuccessful campaign.
A look alike is a way to reach new audiences who are likely to be interested in your business and they might be similar to your already existing customers.
To target such an audience, one needs to provide facebook a source audience (sometimes also called a seed audience) and the ads manager will use the available data to find common themes and then will create a potential audience with the similar traits.
While creating a lookalike audience, one needs to select the percentage so as to which the seller wants the potential audience to look alike.
Such as, if the seller selects 1%, lookalike will be the 1% of facebook users in that country that is most similar to the source audience.
This would straightforwardly eliminate 99% of the least good match, and would instantly give a highly potential audience to target.
Lookalike audiences are simple and powerful. One can select an audience group that has been an asset and then use them on platforms like Facebook or Google to find users with similar traits.
This is how one can scale a successful product company and prospect fresh potential audiences beyond its local environment. Although, it is not a “one size fits all” solution and most likely, one method that is extremely effective in one case, might be destructive or ineffective in another operation under different assumptions.
Lookalike Audience Seeds For eCommerce
Despite the fact that facebook has been referred to a lot, the list of tactics is applicable for any ad platform with a “lookalike” functionality.
For instance, Google’s similar audiences and Taboola, Outbrains variation on lookalikes to name a few.
While many guides that discuss the nuts and bolts of how to set up a particular lookalike audience for a particular campaign type, few address the tactics behind each maneuver.
For a business with a lot of cart abandonment, lifetime value is possibly the best metric to use when creating a lookalike audience. This strategy entails taking the elite customer, the top percentile in terms of lifetime value and using them as a lookalike audience seed, producing an audience that is believably to produce constructive results.
- Requires continuous purchase data
- Great for expanding an existing customer base
A very common “best practice” for businesses.
When placed site-wide, this strategy is astounding for businesses that have a handsome sales volume and facet a few products that serve a specific user journey.
For instance, a band selling merchandise.
In circumstances where clashing products are sold under the same roof, it’s mandatory to split the audiences by product category at least so that each audience shares a specific purchase resolution.
For instance, a departmental store that sells both childcare and cosmetics, might find that these product categories are best segregated into different lookalike audiences, one for each category and presented with ads for products that present a natural continuation of the user journey.
Highest Cart Value
- Requires a lot of purchase data across to achieve cart size variance
- Great for finding more of your most profitable customers
Besides these, another alternative with a sizeable backlog is focusing on customers who checked out with particularly large carts and using them as a seed for lookalikes.
This produces a lookalike that’s believable to repeat this binge shopping pattern. This strategy is especially effective in seasonal/holiday context
Best Sellers Campaign
The ads show only the best sellers for gaining traffic on the website or making trust of the customers.
Targeting ads for best sellers items from your inventory could be a very effective marketing strategy as you are selling stuff which your audience have shown interests in the past. It takes all the guesswork out of analyzing what to sell or not as the data is purely biased on the audience behaviour.
If most of the persons are interested in a certain category of product there are good chances that if you pitch that product to some other persons they would be interested in that product too.
Addyz makes it completely easy for you to sell out your best selling products. Its automatically detects the best selling products on your store on the basis of order history and creates a catalogue within only best selling items.
With Addyz Campaign launcher you can then create a best selling campaign featuring items in a best selling catalogue.
Facebook Page Engagers Campaign
This campaign is based on a warm audience.The people who are visiting your site but are not liking or engaging in your ad campaigns or are maybe engaging but not fully participating.
You can segment and build audiences based on the interactions people have with your Facebook page and ads.
Segmentation can be based on-
- People visiting your page- You can easily prospect people who have visited your page and constantly target them with more posts of your page or maybe few insights. This will eventually help you convert them into purchasers.
- People who have seen your posts- People seeing the posts are definitely more engaged than people just visiting you.Hence,it is a more easy target. Triggering someone at the edge is easier than having them visit you first.
- People who have saved your posts- Target this type of audience with the ads related to the posts they have saved. It definitely reduces effort and filters the audience for you.
- People messaging on your page- This means the person is so much engaged and has the know-how of your page hence,can be targeted with personal offers and benefits. Of Course,it is not easy as it seems but way easier than targeting an audience who doesn’t even know you.