Ever think about all those shopping carts your customers walked away from? What about the sheer number of would-be customers that simply don’t know of your store/brand?
Sales are “lost” all the time. This isn’t anything new.
Exposure troubles and lost sales are common ecommerce obstacles with no shortage of solutions.
The challenge is in being efficient, sustainable, and cost-effective with your approach.
One of the most effective options involves leveraging the marketing capabilities of the world’s most popular social network, Facebook.
Facebook for product marketing
Not much more of an introduction is needed, but if you’d like one here it is.
With Instagram under its wing, a massive userbase, its unmatched targeting capabilities, and a broad extended ad network, it should come as no surprise that this pillar of the digital world is perfect for marketing.
Regarding product marketing specifically, Facebook’s dynamic product ads would benefit any online store.
We’ll be focusing on the targeting capabilities of Facebook’s dynamic advertising and how you can cover a lot of ground with just one simple ad campaign.
If you weren’t already in the loop – retargeting is a form of online advertising that targets site visitors that didn’t convert on a sale or objective.
People quit out of interactions at all stages of the buyer’s journey, often for frivolous reasons (user experience, distraction, timing, etc.). Sometimes all a customer needs is a subtle reminder. Where better than on the world’s most popular online hangout spot?
On Facebook, retargeting is an audience type that you can assign to the ads of a sales-driven campaign.
The same principle still stands though. A campaign launched with this audience will serve up highly targeted, behavior-relevant product ads across the Facebook Ad Network – Facebook, Messenger, Instagram, as well as the Facebook Audience Network.
All it takes is a product catalog, a tracking pixel, and some testing to start seeing results.
Check out our guide on setting up dynamic product ads.
Retargeting is the easiest effective way to combat lost sales, but that’s not all the good that can come from having your products on Facebook.
Broad audience targeting
Once your product catalog is linked to Facebook and you have dynamic product ads running, the next thing you’ll want to launch is another ad set under the same campaign – this time for a broad audience.
With broad audience targeting, Facebook pushes your ads to people “who’ve expressed interest in your products (or products similar to yours), even if they haven’t visited your website or app yet.” The key bit being “or products similar to yours.”
This ad set goes beyond retargeting by honing in on prospective customers that aren’t yet aware of you.
It’s the perfect addition to your retargeting campaign.
Retargeting is fairly narrow, it targets those who've expressed interest in your products. Broad targeting is... well, broad.
But both are low-effort, high-priority strategies to close lost sales. You definitely don't want to stop there though!
Facebook can yield tremendous marketing value if you push the right buttons and pull the right levers.
Campaigns segment ad groups that work towards the same goal. Ad sets segment ads for different audiences.
For the sake of getting started, budget control, and also because both strategies work towards the same goal in a similar way, one campaign with a retargeting ad set and broad targeting ad set is ideal.
Set a safe daily budget and take time to plan out your next move. You can get more creative once you’re more comfortable managing your ads.
Eventually, you might want to separate these two ad sets and build them into their own campaigns. Retargeting campaigns can get much more detailed, and broad targeting is particularly useful in awareness campaigns.
You might want to do your testing in a new campaign with a dedicated budget, or you might find a more innovative management style that suits your needs.
General speaking, campaign structure is one of those things that marketers are always discussing. Look into different perspectives to hone your understanding.
Optimized product data
Dynamic ads are made from your product data. Other than audience parameters, the only other part of your dynamic ads that you can directly alter is your ads’ primary text.
Otherwise, the effectiveness of your dynamic product ads relies on optimized data – that includes your titles, pricing, product images, product landing pages, etc.
If you feel your product data is strong enough that your ads would be viable, you can have your products up in no time. Otherwise, sharpen your catalog before automating product ads in any way.
For true control over your product data, effective scaling, automatic updates, and overall catalog sustainability, you should really consider a product feed solutions platform – especially the larger your catalog gets.
These two basic target audiences (website visitors and broad) are the tip of the iceberg.
Once you’re comfortable with the platform, you’ll want to experiment with your audiences. Facebook makes it particularly easy to A/B test ads.
The only other distinct targeting option for dynamic ads is detailed broad targeting – broad targeting can be refined in a number of ways. It may be tempting to start crafting “ideal” audiences, but don’t go in blind. Unlike basic retargeting and basic broad targeting, you want to test your experimental audiences extensively.
The best way to start is by going broad and slightly limiting your reach. Facebook works well with unrefined, broad audiences. A good first step would be to test a broad audience that is only narrowed by a general, market-relevant interest.
You can also make different product sets for your different audiences. Even with the presentation limitations of dynamic product ads, there’s a lot you can tweak.
Just remember to test your ads.
Facebook is an effective platform for anyone selling products online.
General ad capabilities aside, you should really consider running your own dynamic product ads.
Too many sales get lost to distractions, inconveniences, and so much else. Some of those would-be customers just need a little push in the right direction.
With a product feed and a tracking pixel, some of those customers can start finding their way back to you. Once set up, you can easily add broad targeting to the same campaign so that it aims for all prospective customers – those that almost bought from you plus those that might buy from you if they knew about you.
You really don’t want to ignore the product marketing phenomenon that is Facebook dynamic advertising.