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]]>Pretend there are two brands competing for the same type of customer with similar products. One is testing extensively and going all-in to validate their results so that they come out comfortably profitable on their marketing efforts. They test and test and scale if they are hitting a 4-5X+ ROAS (Return On Ad Spend). They have done their math and determined that these are the numbers they need to hit in order to cover their Cost of Goods Sold and Ad Spend and still come out with some decent profit. They are patient and determined to hit these results before dumping money into their ads. No big deal right?
The problem is that the other brand, that is going after the same exact customers with comparable products, is scaling as fast and as hard as they can at a 2X ROAS. Their strategy is a lot less about making a ton of money on the first time purchase and a lot more about building long term relationships with their customers so that they come back and purchase over and over again. They have also done their math but their thought process doesn’t ask the question, “How good of results do I need to get to still be making money off of these purchases” but instead ask the question, “How much can I afford to spend to acquire a lifelong customer?”.
One brand is focused on making money on the front end through first time purchases. And the other is all about acquiring as many lifelong customers as possible.
I would encourage anybody who is looking at investing into FB/Insta Ads for their brand to strategize and set goals with the long game in mind. Don’t get caught up in the noise and think that you need a 10x Return On Ad Spend to generate true momentum in your business. Lastly, once you acquire a customer, don’t stop there – continue to provide them with value and keep them coming back for more and more. The difference is monumental and the compounding effect of acquiring a lot of customers (at tolerable results) is what will propel your business to new heights.
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]]>The post Market Like Your Love Life Depended On It appeared first on Alaska Boys.
]]>You would never stand on a crowded sidewalk and scream “Who wants to come back to my place for a drink!?” but so many people are doing the equivalent with their marketing efforts without even realizing it.
Instead of obnoxiously begging for attention, challenge yourself to view your marketing efforts simply as a system or tool for adding value to your customers and nurturing them in the same way you would pursue a date and ROI will follow.
So this is all good and dandy but what does the application of this actually look like? Glad you asked!
Brand Awareness: Do whatever you can to serve your ideal customers your most relevant and compelling content…Keeping in mind, you are just trying to start the relationship and add value to their lives. This can be done through “top of funnel” paid ad campaigns, live social videos, or simple organic posts. Content is king and consistency is a must.
Conversions & Nurturing the Relationship: This is where the magic happens. Granted you have your Facebook Pixel placed and have been collecting data on your site, you can now take segments of your “top of funnel” audiences and retarget them based on behavioral data with highly contextual and sequence-based content and nurture them to the point of purchasing. One good application of this is Facebook’s Dynamic Product Ads (DPAs). You can get very in depth with sequenced content and offers through these campaigns but a good starting point is a campaign that serves ads to anybody who viewed or added your products to their cart but did not purchase. The cool thing about DPAs is that the ads content will be dynamically generated based on the user’s actions…for example, if they viewed a strapless red dress on your site, they will see that very same dress on the ads that will show up in their feed. So instead of feeling overwhelmed and even annoyed by irrelevant advertisements that yell “pick me, pick me”, they are actually seeing ads that they are genuinely interested in and care about.
Loyalty, Retention, and Delight: This is where most brands drop the ball – leaving a ton of money on the table and leaving newly converted customers out in the cold when they are feeling the warmest towards your brand. Your customers should feel delighted and encouraged to be your strongest brand advocates. There are countless opportunities to up-sell, cross-sell, serve related content and keep your customers coming back for more and more and more!
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]]>The post Shopify Store Owners: Place Your Dang Pixel appeared first on Alaska Boys.
]]>Success on Facebook or Instagram for e-commerce businesses, contrary to popular belief, does not happen overnight. Everything is built around an ability to generate and pivot from data. Think of it as training a robot that will go out and build relationships with your ideal customers until they like your brand so much that they buy your products.
The great thing about building customer acquisition systems through things like Facebook or Instagram Ads is that once you achieve the results you are after on a small scale, you can then carefully scale this up and take your business to new levels and start crushing new revenue goals you have only dreamed of. But again, this is only possible through the correct collection and use of data and the first step is very simple, just place that dang pixel!
First, go to your Facebook Business Manager.
Click on the menu in the top left hand corner, then click on “All Tools” in the bottom right of this menu.
From here, simply go to “Pixels”.
Click on it, and you’ll get access to your Facebook Pixel ID!
If you see the screen below instead of this page…
…it means that you have created Facebook pixel already, but never got around to setting it up properly on your online store.
If this is the case, all you need to do is finish installing your pixel code on your website.
You can either:
The easiest route, by far, is to use the Tag Manager.
Go ahead and click on that option…
Next, click on “Shopify”.
The next window gives you your Facebook Pixel ID…
Copy the Pixel ID to your clipboard and proceed!
Go to the “Preferences” section of your Shopify store.
Scroll down until you soo “Facebook Pixel ID”, this is where you can paste your pixel ID.
And finally…
Select “Pixels” from the drop-down menu, and take a look!
Voila! you are all good to go!
If your pixel status states “No Activity Yet” instead of “Active”, this means your pixel isn’t working (yet). It might take up to 20 minutes for changes to be reflected.
If it still isn’t working Facebook has some very helpful tools for verifying and diagnosing pixels here.
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