Every retailer should be spending on Facebook. Facebook's reach is incomparable (1.2 billion people) and the advertising cost is relatively low—generating strong ROI for online retailers. Setting up a Facebook campaign for retail business is fairly simple. Here's a quick 5 step list for getting a campaign going on Facebook.
If you don't already have the Facebook tracking code on your website, then begin by uploading an email list of your best customers into Facebook to create a Custom Audience:
Once you have created that list you can create a Lookalike Audience. A Lookalike audience on Facebook is essentially a target list made of profiles that are similar to the "seed audience" (e.g., the list of your best customers that you just uploaded). This is a great way to find new shoppers that are similar to your existing customers.
The next stage is creating a Website Custom Audience (i.e., visitors to particular product pages or category pages on your website). These are useful for retargeting visitors and can also be used to create Lookalike audiences for pre-targeting similar shoppers.
Start with three photos of your product. This is the best way to take advantage of Facebook's optimization process. Basically, if you upload three photos for the same ad, Facebook will automatically test all three and then display the one that performs the best.
If you only have one photo of your product, that's fine, but it needs to meet certain criteria:
Monitoring things like Clicks, Click Though Rate, Cost Per Click, Reach, and Impressions is what most people do to measure success. However, these things should not be the measure of success for a retail business' Facebook campaigns. Conversions, registrations, check-outs, and add-to-basket are much better things to monitor for success after setting up a Facebook campaign for retail business.
To measure these things, you must use conversion tracking, which requires installing a small piece of code on your website. You'll want to install this before making you ad active.
Creating ad variations allows you to track effectiveness and later optimize specific ads. Certain demographics are more expensive to target than others. Having variations for different age ranges, for example, would allow you to pause an ad set for the age range that isn't performing well or isn't delivering the target Cost Per Acquisition (CPA).
Creating ad variations in PowerEditor can be time consuming. StitcherAds has an automation process, where you can create one ad and the variations are automatically created.
Multi-product ads have proven to produce great results for retailers in comparison to simply using single ads. Retailers using StitcherAds for multi-product ads have seen a 36% - 54% decrease in Cost Per Acquisition (CPA) and 41% - 234% better ROI.
Setting up a Facebook campaign for retail business is fairly easy. If you'd like to know how to quickly scale your Facebook advertising and campaigns, contact one of our experts for additional advice. Our platform is designed for retailers to save time in scaling spend and gain new customers quickly.
