E-Commerce Brands Should Invest in Facebook Ads

Facebook has evolved significantly since the platform opened to advertisers in 2007. It is one of the oldest advertising platforms for companies and continues to grow, with seven million active advertisers on the platform as of the beginning of 2019.

This high number should not discourage people from advertising on the platform, as there are still plenty of ways to differentiate your product or brand. One of the most significant opportunities is for e-commerce companies, as Facebook continues to advance its ad products to benefit both the advertiser and the end-user.

E-Commerce Facebook Advertising Foundation

There are five essential items that should be set up on your e-commerce Facebook account to maximize performance. They will give you the foundation to expand your reach and drive more sales on the platform.

The Facebook Pixel

The Facebook pixel is a tracking code that helps measure the performance of your advertising. It follows and understands the actions people are taking on a website to help with optimization and reaching new audiences. Collecting more pixel site data will help Facebook find more of your ideal customers to deliver better results. The amount of data collected will also help with expanding reach by building higher quality and larger audiences.

Standard Events

Standard events are defined actions that a user takes on your website, such as viewing a product, adding to their cart, and making a purchase. Each standard event is predefined to track conversions, optimize for more conversions, and build new audiences. It is important to note the Facebook pixel must be installed before setting up the standard events.

Screenshot showing how to select a standard event from a drop down list in FacebookScreenshot showing how to select a standard event from a drop down list in Facebook

Custom Audiences

Once you’ve set up standard events, it’s time to create Custom Audiences. Custom Audiences are based on actions (view product, add to cart, purchase, etc.) people have taken on your e-commerce website. One of the main benefits of Custom Audiences is the ability to remarket to users who visited the site but did not purchase. Additionally, Custom Audiences are a foundational piece for expanding your reach to acquire new users, which we’ll talk about in the Lookalike Audience section below.

Lookalike Audiences

These audiences enable you to reach new users who are the highest quality users because they are similar to your most valuable existing customers. Facebook looks at the similar qualities of users from one of your Custom Audiences, such as demographics and interests, and then finds people who most closely “look like” that Custom Audience.

Facebook Product Catalog

A catalog is a container that holds information about the e-commerce inventory from your site. The product catalog is dynamically connected to your site’s products to stay updated on price, inventory, and product details. Once the catalog is set up and live, you can advertise the items across Facebook in a variety of ways. One of the most effective methods is through dynamic remarketing ads to show a product on Facebook that relevant to the user’s last website action (ex: add to cart). Read more about Facebook catalog management here.

Facebook Advertising Metrics for E-Commerce

There are a lot of Facebook e-commerce metrics that advertisers can track to make optimizations and measure performance. Some are more important than others and should be the center of attention for analysis and performance optimization. Four metrics we recommend looking at are:

  • Purchase Revenue: The amount of revenue earned on-site from Facebook advertising. Ideally, the purchase revenue should be higher than the Facebook ad spend.
  • Average Order Value (AOV): The average dollar revenue amount each time a user places an order on a website. The number can vary based on the number of the site’s skews and purchase cost of the site’s items.
  • Return on Ad Spend (ROAS): The amount of revenue received for every Facebook ad dollar. The higher the number, the more effective the ad.
  • Purchase Conversion Rate: The percentage of Facebook ad users who purchase on the site. Having the proper Facebook account and campaign setup will often yield a higher conversion rate.

Facebook E-commerce Ad Examples

There are a lot of foundational pieces and optimizations that need to be completed to run e-commerce Facebook ads successfully. A critical element for advertisers is to have captivating ads with imagery and copy that stands out and catches the user’s attention. Below are some examples:

Screenshot of a Warby Parker ad on Facebook, featuring a pair of sunglasses on a bright pink backgroundScreenshot of a Warby Parker ad on Facebook, featuring a pair of sunglasses on a bright pink background

Screenshot of a Harry's ad on Facebook, featuring a side-by-side comparison of razors from Harry's and Dollar Shave ClubScreenshot of a Harry's ad on Facebook, featuring a side-by-side comparison of razors from Harry's and Dollar Shave Club

Screenshot of a Away ad on Facebook, featuring attention-grabbing copy that talks about how many outfits you can fit into 1.75" of additional luggage spaceScreenshot of a Away ad on Facebook, featuring attention-grabbing copy that talks about how many outfits you can fit into 1.75" of additional luggage space

Facebook E-commerce Campaign Setup Example

The Facebook ad platform has evolved quite a bit over the years, with new ad technology that changes how advertisers set up campaigns to maximize performance. Facebook is making campaign setup more straightforward for advertisers; a graphic below offers a starting point on how to structure the entire campaign, ad sets, and ad units.

Chart showing a prospecting campaign strategy for Ad Set, Exclusion, Optimization, and Ad CreativeChart showing a prospecting campaign strategy for Ad Set, Exclusion, Optimization, and Ad Creative

Chart showing a retargeting campaign strategy for Ad Set, Exclusion, Optimization, and Ad CreativeChart showing a retargeting campaign strategy for Ad Set, Exclusion, Optimization, and Ad Creative

To Sum it Up

Facebook can be overwhelming, and at times it might feel challenging to stay ahead of everything with the platform always evolving. Regardless, your Facebook account and campaigns must have a solid foundation in order to be successful. The five items mentioned in this post will provide the necessary insights to make optimizations and help the most with campaign performance, no matter how the Facebook ad platform changes in the future.

The post E-Commerce Brands Should Invest in Facebook Ads appeared first on Portent.


Which change?

You can change the way people get the things they want.

Or you can change what they want.

Jeff Bezos and Bill Gates are two of the wealthiest people in history. They got that way by changing how people used tools to find new ways to get what they already wanted.

Nelson Mandela and Jacqueline Novogratz picked a different mission. Trying to change what people want in the first place.

Both paths are available, but they’re different.

 

PS The only way to create action where there is none is to tell a story that resonates. I’m thrilled to offer you a preview of bestselling author Bernadette Jiwa’s new story skills workshop with Akimbo. It begins in a few weeks and you can sign up for updates right here.


Inventing Things Without the Words

On October 29, 1969, the first node of a network called ARPANET was connected. There wasn’t a word for what was happening yet. That came later. Internet and TCP / IP, its fundamental protocol for the transmission of information, became a word a few years later. But the vision was to create a “unique intergalactic network.” That’s what one of the pioneers of that company said in early 1960s. No word, no word of mouth, apparently. It was hard to predict what that connection would mean, exactly. On the morning of 29 October 1969, at 3420 Boelter Hall of the…


Give Your Creativity a Boost Using the B.U.I.L.D. Model

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Give Your Creativity a Boost Using the B.U.I.L.D. Model - by Wrike project management tools


Bread and books

Twenty years ago, I met the most famous baker in the world.

I was in Paris for a speech, and visited Poilane, a bakery much smaller than its reputation would lead you to believe. I was hoping to take home an unbaked kilo of dough, a sourdough, one that I could use to spawn hundreds of new loaves over the years.

Proud of my sneakiness, I began by ordering $30 worth of loaves and tarts. And then, offhandedly said, “and an unbaked loaf please.”

The clerks would have none of this. It was impossible, it wasn’t done, it wasn’t permitted.

Bluffing, I said, “I’m confident that M. Poilane would be okay with it.”

On cue, a door behind the counter opened and a handsome man, dressed in a smock, came out to introduce himself. Even before he spoke, I could see the sparkle in his smile, and I figured we would hit it off.

Instead of shooing me away, he invited me into his office. We spent two or three hours together that day, talking about his work. He showed me his huge library on the history of bread and we hung out in the basement, where it was over 100 degrees because of the wood-burning ovens. He sent me home with 2 kilos of unbaked dough. I kept that starter alive for years.

Lionel understood that bread shared wasn’t bread lost. That no one was going to be able to steal his sourdough, even if they grew their own version at home. Over several years, he and I got together for long lunches in Paris when I was in town for a speech. I taught him about the internet, and he taught me about the magical intersection between generosity and idiosyncracy.

Ideas, bread and books are all the same–they’re better when they’re shared. The posture of generosity and connection replaces a mindset of scarcity, and Lionel modeled this philosophy every day.

When he and his wife were killed in a tragic helicopter crash, he left behind friends all over the world as well as two teenaged daughters. I honored his memory in the best way I could think of–by dedicating a book to him. My challenge was that I didn’t have a book in the works, nor was I planning to write one.

The book I wrote, so that I could have a book to dedicate to Lionel, was Purple Cow. It captured his energy and his care and his impact on so many. And it changed the arc of my career as a writer as well.

Lionel’s eldest daughter, Apollonia, immediately stepped up and took over the bakery, a task that few outsiders felt she could handle. After all, she was only a kid. And the patriarchal mindset in her industry and city didn’t help.

Not only has the quality of the bakery been maintained, but its impact has only grown. Apollonia has modeled the clarity and contribution of her dad, and has shown us what it means to share ideas and to lead. From the first moment, she showed up in a way that honored the memory of her parents.

Generosity, abundance and idiosyncrasy in service of craft and community.

Her new book, her first in English, is out this week. Her dad changed my life, and her bread and the way she talks about it might change yours.


4 Tips To Market Your Own Moving Company

Marketing plays a vital role in the success of any business. If you want to be the best moving company New York City or in any other city, you should pay attention to your business’ marketing strategies. The right marketing strategies can become your ticket to stand out from the competition, haul in customers, and earn profit long-term.

If you just started your own moving company and is currently challenged on how you can market it, these tips can help you out:

 

1. Create a great website

In today’s digital era, a business website is no longer a luxury – this online platform is now considered as a need. A website is a convenient and accessible platform used by almost every human being in the world.

One of the most effective marketing strategies you can use for your moving company is a website. Movers NYC and other movers operating in different parts of the globe are now using a website, and if you’re not using any, you’re losing customers to your competition.

Websites are now easy to create as you can pay for a professional or service to do the job for you. Your website should look professional and contain contact information about your moving company. This online platform should allow potential customers to know your business better and reach out to you in the easiest way possible.

 

2. Start a blog

The World Wide Web can be utilized as a powerful marketing tool. Its accessibility allows you to engage with potential customers and make yourself different from the competition.

Aside from creating a website for your moving company, starting a blog can also help. A blog can expand your audience reach and build your authority in the market. As long as the content is regularly published, you can guarantee that your blog can influence your moving company’s success in the market.

There are now online platforms that allow you to post your content for free. However, if you want to use more features, paying for a paid version of these platforms can be a better option.

 

3. Research on your customers

Although it can be tempting to serve every human being in the world, doing this isn’t feasible. Even the most established moving companies have a target market. This status quo should give you an idea of how you should plan your own marketing strategies.

Determine who your target market is. By streamlining who your customers are, it’ll be easier for you to assess what marketing strategies appeal and don’t appeal to your customers. This information will also help you save money from paying marketing strategies that won’t work.

If you’ve determined that your target market is families with children, you can spend your resources on knowing what these customers want from a moving company and what marketing channels appeal to them the most. It’ll be easier for your moving company to meet customers’ demands if you actually know how your customers and what their demands are.

 

4. Connect with real estate agents

Real estate agents can become your platform to reach out to your target market. Real estate agents work with customers who are moving into a new home or moving out of their current homes. And of course, these people will need a professional moving company.

Foster healthy relationships with real estate agents in your area. Join any events that require their attendance and take your time to socialize with them. Creating professional relationships with real estate agents might be time-consuming, but with the number of customers you can acquire from them, all of your efforts will be worth it in the end.

 

Your Consistency Counts

There are actually a lot of marketing techniques for moving companies. While some of these are inexpensive, others require spending a large amount of money. But regardless of the marketing strategy you’re planning to use, keep in mind that consistency is key. The longer you implement certain marketing strategies, the sooner you can reap its benefits.

 


How to Turn Lukewarm Customers into Raving Fans: Me on the Tony Robbins Podcast

I am super excited that I am a guest on this week’s Tony Robbins Podcast! The episode is titled Cracking the Code on Company Culture: How to Turn Lukewarm Customers into Raving Fans, and Disengaged Employees into High-Performing Teams.


How to Sponsor a Podcast: Getting Started

I want to start by prefacing that there is no playbook on how to purchase podcast ads. Everything you read in this blog post is based on our research and the many hang-ups we experienced along the way.

Podcast advertising isn’t a cut-and-dried initiative, and it requires a lot of upfront labor. What makes this process worthwhile is the fact that it’s not something that everyone is doing—which can mean great things for brands that are struggling to grow a name in a saturated space.

This post will teach you the fundamentals of purchasing podcast ads and prep you for running your very own campaign.

Get to Know the Podcasting Lingo

Similar to social or paid advertising, podcast advertising has its own lingo. And while knowing the ins and outs of podcast advertising terminology isn’t a must, it will help you make better decisions about running a podcast advertising campaign.

Here’s what you need to know:

Episode Downloads

Podcast hosts praise themselves on the popularity of their show. Show popularity, as you might’ve guessed, is measured in episode downloads. Regardless of which publishing platform the host uses (e.g., Apple, Spotify, etc.), they’re given information on the number of downloads every episode receives.

When looking at the performance of individual episodes over time, hosts can make educated decisions about the average number of downloads an episode will receive in the future. They then gather those insights and use them to decide on their sponsorship rates.

It’s important to note that episode downloads do not equal the number of listeners who will hear your ad. Podcast listeners may not play the episode right away, or they may skip the ad read altogether. And while this may sound discouraging, research shows that 93% of podcast listeners get through most of the episode and are less likely to skip podcast ads altogether.

CPM Model

Technically speaking, podcast hosts base their advertising rates on a CPM model. CPM stands for “cost per mille,” which translates from Latin to “cost per thousand.” If a podcast has a CPM of $25, that means you’re paying $25 for 1,000 listeners (or downloads per episode). And if that podcast receives 50,000 downloads per episode, you should expect to pay $1,250 for a single episode.

Based on our experience, however, pricing isn’t always this cut and dry. Many other factors go into play when it comes to podcast advertising rates. Such as:

  • Campaign duration (number of episodes sponsored)
  • Ad type (baked-in vs. dynamic)
  • Ad placement (pre-roll, mid-roll, vs. post-roll)

In summary, the podcast advertising pricing model is very much arbitrary. And while it’s important to take note of podcast CPM rates, it should not be the only stat you take into account.

Ad Types

There are two different ad types: baked-in and dynamic. The baked-in ads are the permanent, evergreen ads. They’re the ads that get recording during the show and remain part of the episode until the host decides to take it down entirely. From our experience, those types of ads sound more organic, as hosts tend to weave them into the topic of the show naturally.

Although it’s common for dynamic ads also to be host read, these are the types of ads that get inserted into the episode on-demand. Once the episode reaches the promised number of downloads, the ad will be swapped out with a different sponsor. In doing so, hosts can monetize the same episode over time and in turn, make a larger profit. As a sponsor, you’ll want to consider dynamic ads if you’re interested in running a seasonal campaign, as the evergreen exposure is of less importance is those instances.

You can learn more about live-read versus pre-produced podcast ads here.

Ad Placement

There are three types of ad placements that you should be aware of:

  • Pre-roll: runs at the beginning of the show for 15-30 seconds
  • Mid-roll: runs in the middle of the show for 60 seconds
  • Post-roll: runs toward the end of the show, usually before final credits

Since mid-roll ads get the most significant exposure, they tend to be the most expensive, followed by pre-roll and post-roll.

When deciding on ad placements, remember that not all hosts treat their placements equally. And while most established podcasts offer all three, some may provide fewer placements or charge the same amount, regardless of when the ad is played. So be sure to check in with the host and confirm the placement and the duration of their ad spots.

Setting a Budget

Even if you have all the confidence in the world that podcast advertising is right for you, it’s essential to start small. If you’re working with smaller, host-owned podcasts that offer baked-in ads, a budget of $10-15K is a solid starting point (check out this case study to see an example of this approach). And while a smaller budget may not result in the most glorious ROI, it will help you dip your toes into podcast advertising, without blowing your entire advertising budget.

It’s also helpful to set a budget for individual episodes—as it gives you parameters on what podcasts fit into your price range. For example, if you’re starting with smaller podcasts, set a per-episode budget of $500-$1,500. This way, while you’re prospecting for podcasts, you can easily vet podcasts that are way outside of your price range.

In our experience, we found that pricing fluctuates based on the popularity of the targeted niche. If that niche is saturated with other sponsors, your $10K budget may not stretch far. Keep this top of mind as you search for podcasts and set your budget.

Know What to Ask for as a Sponsor

Once you’ve built a list of podcasts that you’d like to work with, you’ll need to start getting in front of the podcast hosts and formulating partnerships.

When you’re first getting started, this can feel a bit daunting. Podcast advertising requires a lot of moving parts that need to be solidified before the launch of your first campaign.

To make things a little easier, here’s a template that we use to collect information from the hosts:

SUBJ: [NAME OF PODCAST] sponsorship inquiry

BODY:

Hi there,

I’m reaching out on behalf of a brand in the [INDUSTRY TYPE] industry and I was hoping to get a media kit for [PODCAST NAME] podcast.

Primarily, I’m looking to get information on the following:

  • Downloads per episode
  • Ad type (baked-in vs. dynamic)
  • Cost of mid-roll placement
  • Sponsorship commitments (required # of episodes/spend)

Thanks so much!

In addition to asking the technical questions, you’ll want to gauge the host’s enthusiasm in their email reply. If they don’t seem super interested or excited about your product or service, their lack of excitement could very well translate into the live ad read.

Stay Organized

When you first begin establishing relationships with hosts, there’s going to be a lot of back and forth. If you’re not keeping track of whom you’re contacting, it won’t be long before the podcasts start blending. A spreadsheet will help you keep track of which podcasts you’ve contacted and what it costs to sponsor them.

It’s also important to note that sponsorship slots for popular podcasts fill up quickly. During your outreach, you’ll soon come to realize that the podcasts you’re most interested in working with may not be available for several weeks or even months. It’s a good idea to use the same spreadsheet to track upcoming availability—which can also help you plan for upcoming campaigns.

Now that you’ve familiarized yourself with the process, purchasing podcast ads will be a breeze! If you’re ready to start finding podcasts to sponsor, be sure to check out our tips on finding a podcast for your next ad campaign.

The post How to Sponsor a Podcast: Getting Started appeared first on Portent.


4 Questions with Osvaldo Danzi, Founder, FiordiRisorse

“I put human before resources because only flipping perspectives we can change the ending – Persons’ and stories’.” [Translation note: in Italian, we’d say Resources Human. But even when we say HR in English, we still mean to focus on the resource part, not the human.] The word itself means the best of resources, la crème de la crème, if you will. FiordiRisorse is what would happen if trade associations were able to follow the questions, rather than be all too eager to give fast answers. Because we’re living at a time of great change, and the people who’re doing…


“Get what you want without compromise”

That’s the call of our times.

Run a marathon without getting tired.

Lose weight without dieting.

Get ahead without working hard.

Earn big money without risk…

When you expose it this clearly, it’s obviously nonsense. Compromise is precisely what’s called for.

You can’t have everything you want. But, if you care enough and trade enough and work hard enough, you might be able to get some things that matter.

The real question might not be, “what do you want,” it might be, “what do you care enough to compromise for?”

 

PS Today’s the last day to sign up for The Freelancer’s Workshop. This is our last session of the year.

Time to start doing the work to earn better clients.