Mike Hauben, Editor
Advertising success starts at the source. At a minimum, successful advertisers need to do three things in order to achieve success with any of their online marketing efforts.
You need to set a strategy and advertising targets
By this, I mean goals, numbers you want to achieve, the results you want to see, etc. Throwing a couple ads together in a rush and throwing them on Facebook sometimes works. But when was the last time your marketing team and sales team sat down together to figure out the actual pathway that your customers take to get to the sale? Sometimes this data is unavailable, especially if its an older store who hasn’t kept up to date with online methodologies.
If you’re running ads, you may be tempted to immediately go into Facebook’s ad editor and start creating ads. However, I’d advise to sit down for a bit and draw the path that you expect customers to take from the moment they see your ad to the time they checkout or walk into your store. After you’ve mapped out the whole path, you’ll likely discover some new ideas and ways to keep them engaged throughout the whole buying process.
Additionally, you must know your advertising targets. At the ground level, its smart to use the Facebook pixel on your site to collect visitor data that you can remarket to. However, there are a lot deeper ways to segment your data, and create multiple lists based on customer purchasing and visiting behavior. Maybe you have a nice email list you’ve collected. It could be a waste of money to simply show your ads to all the same people each time. Really strategizing which targets your advertising to for different campaigns will make a big difference in making your ad spend reach the most targeted people.
You need to establish the budget you are willing to spend and your expected result
if you’re putting money into advertising, you need to know what you’ll get out of it. Otherwise if success hits you right in the face, you won’t even know it.
It’s tempting to keep adding money to your ads in hopes something will change. Testing different ads is a huge part of advertising! However, you should figure out exactly what your total budget is for each campaign, in addition to how much you’re willing to spend for each sale. Jewelry is often expensive, and advertising is a numbers game. You’ll likely need to reach a lot of people and get a lot of clicks to get a sale – and that’s totally normal in advertising and e-commerce. As your campaigns develop, you should be measuring how much money you’re actually spending to get a sale.
You need to project how your budget will increase/decrease as you gather results
What adjustments will you make as the campaigns run and the data starts to pile in about your business and customers? This is where reality hits. Many jewelers are surprised at the closing ratios of online advertising – it’s low. However, online advertising is the most important advertising method in the world. So, as the numbers roll in and your campaigns run, you’re bound to see some surprises and will need to make some adjustments. You need to have a plan in place for the changes and adjustments you’ll make to your campaign. Usually, I do this by starting your ads at a low budget, and increasing the ads that are working. There’s no reason to throw your whole budget away immediately. Start slow, see what works, and adjust accordingly.