After years of consulting e-commerce and startups, I have seen many companies underutilize the power of huge website visitor and Facebook fans. In fact, you can run a Facebook campaign, sales promotion, ad retargeting, media contest and other types of campaign to acquire lower cost per lead.
“Screenshot of highly targeted email opt in campaign CPA at $USD 0.58″
In this blog post, I will share the strategies I have personally validated across different verticals toward creating an amazing campaign with early ROI.
- Promote Sales
- Email Opt in
- Facebook Likes
Given a large number of website visitors and Facebook fans, the first step you should do is create custom audiences and lookalike audiences on the Facebook Ads Manager.
To create traffic audiences: Go to Audiences >> Create Audiences >> Custom Audiences >> Website Traffic.
To create traffic lookalike: Go to Audiences >> Create Audiences >> Lookalike Audiences >> Choose Source.
Now that you already have the audiences, let’s take a deeper look at the campaigns
Running retargeting campaigns, you can basically set visitors that land on certain pages in your website.
This is one of the most powerful campaigns you can have, especially when it’s related to time-sensitive sales promotion or any sort of e-commerce product.
For example, our previous campaign for LensCulture.com had about 35% to 40% increase in the total revenue acquired from retargeting.
2. Promote Sales in Facebook
Running a Facebook sales promotion campaign may be a bit tricky with an e-commerce business, where you need to create a very lean campaign structure (this will be covered in my next topic). But if you do it right, you should see great results.
Below is the screenshot of how a lean campaign structure would look like.
As you can see above, I am utilizing a lot of lookalike audiences not just visitors and fans. I also uploaded email lookalike and purchaser lookalike.
The rules for effective audiences strategy is to have an inner segmenting within the lookalike. For example, email lookalike audiences can reach about 200K to 800K, depending on the country. Due to this broad audiences, we can actually reach out to targeted people and will be more likely to convert.
Using this similar strategy in almost every verticals, most of the time we are able to cut CPA by around 50%.
3. Email Opt in
Now you have an idea on how a lean campaign structure should look like. Running email opt-in campaigns is the same, except that you need to hit higher CTR and keep CPC at a minimum.
In order to do that, you need to do a lot of tests on ads copies and banner images. I recommend that you start with two different ads copy and optimize towards at least 3% click-through rate. It’s only after you have reached 3% CTR that you can test on new image banners.
From our experience, hitting $0.50 CPA for email sign-up could be difficult, especially if you have a bad email squeeze page. In order to reach the goal, you need to do a lot of tweaking and refining of your squeeze page / landing page.
4. Facebook Likes
Achieving 1 cent Page Likes is possible but you may need to run multiple experiments to achieve lower CPA. The key tools for achieving low-priced page likes are:
- a) Creativity
- b) Right targeting
Some of the Page Likes campaigns that I ran were usually below $0.05. You need to go the extra mile from a creative angle to do this.
In one of the experiment we did for our internal projects which is called FreelanceCulture.net, we achieved about $0.03 per page like with crazy click through rate. We tested a few versions of ad banners and realize we got better results with a humor oriented ad banner.
You can take advantage of your high website traffic by targeting visitors to your like campaigns. Since many of these people are already aware of your brand and consume your content, showing Page Likes campaign will definitely propel them to like as well.
Nonetheless, to bring down your cost per like, you can also try lookalike with inner segmenting.
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