So, we agreed by now on data driven marketing and in 2018 most marketers are aware of ROAS and CAC. Everyone is putting pixels on their website and optimizing for conversion, creating lookalike audiences and target interest and behavior. But here’s the bummer – what if your products or services are expensive.
- Most likely you have only a few conversions a day (unless you are Net-a-Porte) and optimizing for conversion won’t give you a lot of benefits as you won’t be getting sufficient data for an algorithm to learn over a short period of time
- Everyone loves Gucci but who can afford it? So, reaching people who are interested in Gucci based on activity such as liking Pages or clicking on ads might not gonna drive quality traffic.
- Lookalikes and Similar Audiences are very algorithmic and based on user demographics and past online behavior. If you don’t upload thousands and thousands of emails of your existing customers the algorithms will struggle again to build good matches for you.
- You can retarget your visitors till you are blue in your face but until you give them a specific answer why to buy from you and not somewhere else they are not gonna buy. Dynamic Product Ads are cool but its not cool to keep showing your prospect a product which isn’t available in their size.
So, ppc isn’t working let’s just do influencer campaign? There’s still hope.
First, let’s brush up good old funnels
Awareness. Non-visitors, non-customers, not aware you exist
Where your customers hangout? Selected restaurants? Golf courses? Selected properties? Geo target those with a hack – not 1-mile radius but very precise down to a specific building/venue.
Serve them beautiful (I mean BEAUTIFIL) videos – first optimize for reach then for engagement. Good thing is you target very small interconnected community. If they like your creative they would share with these who are exactly as they are and that’s the network effect!
Interest. Those who viewed your video.
Show your product feed or product catalog. Test blending in with demographics and interest targeting.
Exclude: bulk shoppers, those who like coupon sites, who likes discounters. Use AND binding while excluding to make sure you indeed excluding bargain hunter not a founder of coupon site who likes their page.
Selling leather bags? Include those who like fashion & shopping and luxury brands but exclude vegans and environmentalists.
Don’t think just who your customers are equally important who they are not.
Is your onsite experience of Gucci level? If it’s rather H&M show your more of your products on a platform itself.
https://www.facebook.com/business/learn/facebook-create-ad-carousel-ads
Optimize for product views.
Onsite content is the king (and the queen too). Empathize with your users. They don’t really want to know if the bag is 43.5×21.7 cm they want to know if a laptop fits in there.
Consideration. Those who viewed your products.
Retarget. Yes, size matters! If I wear size 39 doesn’t matter how much I loved the shoes if your only have size 37 available I’m not gonna buy them although I’m gonna click on them and you gonna pay for me clicking. Include size parameter into your product feed.
Social proof – yes, reviews, they are. Not just the product quality but the size – is it running a bot too small or perfect fit for most of the customers?
Optimize for add to cart.
Intent. Cart abandonment.
Upsell, down-sell, cross-sell. Special offer only today. Vouchers. Cash back.
Tap into psychology:
- Create urgency – special offer eds tomorrow – and scarcity – only 2 left, 20 users looking at the product now.
- Price match guarantee
- Remove “pain of paying”. That includes removing the currency sign ($), implementing one step checkout to minimize the “pain” a user going through giving up their money, adding positive reinforcements after each part of checkout is completed.
- Land people on “pre-complete” pages to give them the sense of progress even before they started
People tend to continue the endeavor once they started something.
Purchase. Checkout funnel.
Remove all barriers to buying.
Promise: free delivery and returns, 365 days refunds, all legal forms of satisfaction guarantee.
Don’t be cheap: you don’t wanna charge $2 cash on delivery for $1000 purchase, do you? They don’t wanna give credit cards details cos they don’t trust you not cos they want you to make an extra effort collecting cash.
Optimize for purchase.
Repeat purchase. Those who previously bought.
You have their data now – analyze, slice and dice.
Create price clusters. People who bought accessories might only afford accessories.
Classify and test. Those who bought classics might not be interested in latest trends but might so much as well. Test, test, test.
Consider what users viewed before buying.
EXCLUDE products which a user just bought from showing. Don’t be souq that guy.
Optimize by reach.
Set up referral program. A worthy one – not $20.
Final word or wisdom, be special, be unique, remember why and for whom you started this business first place!