Selling on social media is recognition of a market that has yet to be fully exploited to release the latent potential within to sell, upsell and retarget. According to Nosto “ The Ultimate Guide to Facebook Dynamic Product Ads,” an online customer will engage five times before committing to a purchase. This signifies and highlights the imperative of captivating your audience, continuing to engage with them wherever they might go and ensuring your offering grabs them sufficiently to stimulate and motivate a sales conversion.
Facebook Dynamic Product Ads provides a vehicle for promoting your products to a captive audience of 1.86 billion and an average of twelve times the “Return on Advertising Spend.”
It is your avenue to greater social selling success and should not be underestimated. Online visitors are reminded of their browsing history and of their product preferences incentivising them to make informed choices and delve further into related items that spark their interest.
A possible scenario is a potential sales situation where the preoccupied shopper has added items to their cart that were not purchased. What started as a browsing purchase signal and developed into a probable conversion with addition to the shopping cart triggered no action to actually purchase. A number of factors such as a customer being over stressed, hurrying the order process due to work constraints or time issues or simply creating an overcrowded cart where many items are forgotten in the maelstrom, can all dictate the outcome of an initial interest in certain items.
Ironically most E Commerce sales are activated through tablets or desktops though most E Commerce traffic is from mobile. This clearly highlights the fractured nature of the online buying process with shopping journeys starting on smartphones and finishing on tablets or PCs. Nosto data informs us that it is more meaningful to retarget through a shopper’s profile rather than cookies so they can carry on from where they left off. Their data suggests that those customers who have abandoned carts and are drawn back to the store through Dynamic Product Ads are fourteen times more valuable than average shoppers.
It is essential to consider lifetime value rather than single purchases to energise potential sales. Existing data claims that 10.6 times ROAS result from retargeting through post-purchase ads, so embracing and deploying Dynamic Product Ads is a no brainer for all website owners. They also attract new customers if your ads reflect current trends and highlight the most up to date items. Of course there are a number of best practices that should be observed to reap optimal gain from a Dynamic Product Ads campaign. The important point to remember is that there is a cut off time for maximum effectiveness of a retargeting campaign and that is approximately thirty days after customers have revisited the store. Another important element of successful retargeting is ensuring you have a single focal point when creating copy to accompany the visual product. Text needs to instil passion and create a fear of losing out whilst sticking to one call-to-action. There is the potential to stray from the item originally viewed and related purchases, to other ranges – do not be tempted as this is a retrograde step which can produce inferior ROAS and conversion rates and do not confuse tools to improve profitability and cart value with the objective of expediting customers back to your store.
If you have an questions or would like to discuss the information above our expert Magento Dublin team are here to help.