optimizing your facebook dynamic ads to maximize conversions
TRANSCRIPT
The 2016
Facebook Advertising SummitHOW TO APPROACH FACEBOOK PERFORMANCE MARKETING DURING THE Q4 SHOPPING RUSH
2016 Facebook Summit Layout
Day 1 Optimizing Your Facebook Dynamic Ads
Day 2 How To Fix Non-Converting Social Traffic
Day 3 Custom Audiences: From Zero to Hero in 4 steps
Event Logistics
• Submit Questions In the Chat Box to the Right
• Session Recording Will Be Sent 9/16/16
• More Resources In the Handouts Section to the
Right
• Poll Questions Throughout PresentationEvent Coordinators
Nick CotterMarketing Operations Coordinator
Sarah RogersSenior Social Strategist
OVERVIEW
•Founded in 2007
•Recognized as an Official Google Shopping Partner
•350+ Active Retail Clients
•Top 50 fastest growing company in San Diego 4 years
•Recognized as one of the Top 10 best places to work in SD
CLIENTS
SOLUTIONS
• Retail-focused Paid Search (PPC)
• Google Shopping Management
• Shopping Channel Management
• Amazon Sales Acceleration
• Facebook Advertising Management
About CPC Strategy
Today’s Event Speakers
Nii AheneCo-Founder & Chief Operating Officer
Stephen KernerSr. Retail Search Manager
Optimizing Your Facebook Dynamic Ads to Maximize
Conversions
www.CPCStrategy.com | 619.501.6138 | [email protected]
Course Overview
The Everchanging Facebook Dynamic Ad Landscape
Introducing a Framework to Split Test Ad Copy
Utilizing Demographic Data to Increase Efficiency of Media Spend
How to Find the Perfect Call to Action for Your Audiences
Preparing Your Budget for Q4: Proper Media Spend Allocation
Live Q&A
Poll For The Audience…Are you currently utilizing Facebook as an advertising channel?
A. Yes
B. No
C. Just getting started
The Everchanging Facebook Ad Landscape
www.CPCStrategy.com | 619.501.6138 | [email protected]
Different Ads for Different Objectives
Objectives ActionsClicks to Website Send people to your websiteWebsite Conversions Increase conversions on your websitePage Post Engagement
Boost your posts
Page Likes Promote your Page and get Page likes to connect with more of the people who matter to you
App Installs Get installs of your appApp Engagement Increase engagement in your appOffer Claims Create offers for people to redeem in your storeLocal Awareness Reach people near your businessEvent Responses Raise attendance at your eventProduct Catalog Promotion
Automatically show products from your product catalog based on your target audience
Brand Awareness Reach people more likely to pay attention to your brand
Lead Generation Collect leads for your businessVideo Views Create ads that get more people to view a video
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Different Ads for Different Objectives
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Where to Start? Everywhere?
Introducing The Facebook Ecommerce Conversion Funnel
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Facebook Ecommerce Conversion Funnel
Facebook paid advertising is unique because it touches on every point in the ecommerce conversion funnel - from brand awareness to generating revenue and creating loyal customer relationships.
Although many brands are eager to leverage Facebook’s advertising capabilities - they suffer from a lack of education and guidance on how to promote their brand effectively, optimize their creative, target specific audiences and allocate budget.
www.CPCStrategy.com | 619.501.6138 | [email protected]
Facebook Ecommerce Conversion Funnel
The unique ability of Facebook advertising is that retailers can start their advertising efforts at any point within the funnel depending on their business objectives at the time.
For example, a start-up company is more likely to focus on their “Awareness” aka getting the word out about their new company in comparison with a more established brand who is focused on “Reengagement” aka building customer loyalty among past purchasers.
www.CPCStrategy.com | 619.501.6138 | [email protected]
Where We’ll Start Today – Activation with Dynamic Ads
What is Activation? Customer Activation is when we target people who have shown an interest in your brand
by visiting your site or checking out your product but for some reason have not converted just yet.
How do Dynamic Ads Play a Role in Activation? Increase conversions on your website Get people to claim your offer Promote a product catalog
Introducing a Framework to Split Test Ad Creative & Copy
www.CPCStrategy.com | 619.501.6138 | [email protected]
How the Facebook Algorithm Works
Algorithmic Game Theory and Practice: Published on Nov 20, 2015Eric Sodomka, Facebookhttps://simons.berkeley.edu/talks/eric-sodomka-2015-11-17https://youtu.be/94s0yYECeR8
www.CPCStrategy.com | 619.501.6138 | [email protected]
How the Facebook Algorithm Works
The Goal of News Feed - Show users stories they care about and nothing else. This includes ads.
Facebook assigns a predicted utility value to every possible story based on your individual likelihood to have a positive or negative interaction with a story.
These interactions are then weighted based on Facebook's determination of the meaningfulness of the interaction.
When it comes to ads, Ad relevance is assessed based on the value that the ad is displacing in the organic news feed in a Vickrey–Clarke–Groves auction.
www.CPCStrategy.com | 619.501.6138 | [email protected]
How to Layout a Solid Framework
Because you pay for impressions, CTR or interaction rate should be the *primary* metric a retailer tracks for two different ads.
The higher the CTR or interaction rate , the lower the cost of traffic for your Dynamic Ad Campaigns.
Optimization efforts should be focused on creating a call to action that increases interaction or CTR.
www.CPCStrategy.com | 619.501.6138 | [email protected]
3 Axis Breakdown – DPA Segments
CHANNEL/CAMPAIGN
DESKTOP
MOBILE
Product View But, No Purchase
Product Added To Cart, But No Purchase
Product View But, No Purchase
Product Added To Cart, But No Purchase
1-3 Days
16-30 Days
4-15 Days
1-3 Days
16-30 Days
4-15 Days
1-3 Days
16-30 Days
4-15 Days
1-3 Days
16-30 Days
4-15 Days
PRO TIP: For split testing we want to learn as quickly as possible so we'll run two versions of an ad against each of these audiences.
www.CPCStrategy.com | 619.501.6138 | [email protected]
Split Test Setup
Split Test FrameworkAd/CTA Variation 1 Ad/CTA Variation 2
Optimization against engagement KPIs – CTR or Interaction Rate.
Run campaigns until each there’s a statistically significant difference in ad performance
Generally speaking 10,000 impressions per variation is a good target to aim for
Aggregate performance against variations and channel to see if there are key difference between copy and/channel
Utilizing Demographic Data to Increase Efficiency of Media Spend
www.CPCStrategy.com | 619.501.6138 | [email protected]
Utilizing Demographic Data to Increase Efficiency of Media Spend
Three suggested segmentations to start
- Recency- Activity Type- Channel or Placement
For larger or more nuanced catalogs gender, Age, or Geo maybe be swapped out with activity type or recency to help to target messaging
The breakdown dropdown helps advertisers select logical breakpoints for segmentation
www.CPCStrategy.com | 619.501.6138 | [email protected]
Age, Gender & Geographic Segmentation
Gender Verticals that might consider breaking out by gender to get more insight into spend
effectiveness include:
Apparel
Jewelry
Footwear
Beauty
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Age, Gender & Geographic Segmentation
Age Verticals that might consider breaking out by age to get more insight into spend
effectiveness include:
Apparel/Fashion Electronics
www.CPCStrategy.com | 619.501.6138 | [email protected]
Age, Gender & Geographic Segmentation
Geographic Verticals that might consider breaking out by geo identify geographic segments to
suppress include:
Weather
Seasonal
Outdoor Sports
www.CPCStrategy.com | 619.501.6138 | [email protected]
Facebook Audience Insights – Custom Audience
www.CPCStrategy.com | 619.501.6138 | [email protected]
Facebook Audience Insights – Custom Audience
How to Find the Perfect Call to Action for Your Audiences
www.CPCStrategy.com | 619.501.6138 | [email protected]
Coupon Code CTAs
Get People To Claim Your Offer Create ads with a coupon, discount or other special deals. Ensure you include the coupon code in the copy to give the ad more urgency and call out
why there’s a special promotion.
www.CPCStrategy.com | 619.501.6138 | [email protected]
Seasonal CTAs
Seasonal CTA Targeting Speak to the time of year with specific copy and segment your products accordingly.
www.CPCStrategy.com | 619.501.6138 | [email protected]
Transactional Messaging CTAs
Transactional Targeting Speak to customers where they’re at in the conversion process – remind them they have
something in their cart or provide an incentive (i.e. coupons) if they’re further up the conversion process.
www.CPCStrategy.com | 619.501.6138 | [email protected]
Brand Reinforcement Messaging CTAs
Brand Reinforcement Reinforce the benefits of your brand and what your brand is trying to accomplish. Why
buy from your store?
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Geographical CTAs
Geographical Targeting Speak to weather changes, deals in specific geo-regions. The more targeted your
copy, the higher the likelihood of conversions.
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Interest Based CTAs
Interest Based Targeting Layer interests over your targeting to speak to specific customer segments.
Preparing Your Budget for Q4: Proper Media Spend Allocation
www.CPCStrategy.com | 619.501.6138 | [email protected]
Media Spend Allocation
While the process of split testing CTAs never really ends - the exercise can reach the point of diminishing returns against established segments.
Once we know the performance of these campaigns segments against the same creative we can make decisions on where to allocate spend based on the metric we’re trying to drive (ROI v. Traffic v. CTR).
During the holiday season maximizing opportunities in front of buyers that are most likely to buy is the most important optimization activity a retailer can do.
www.CPCStrategy.com | 619.501.6138 | [email protected]
Media Spend Allocation Breakdown
Mobile DPA CampaignTotal Daily Budget - $600.00
Product view but no purchase – 1 - 3 DaysDaily Budget - $100
Product added to cart, but no purchase - 1 - 3 DaysDaily Budget - $100
Product view but no purchase - 4-15 DaysDaily Budget - $100
Product added to cart, but no purchase – 4 - 15 DaysDaily Budget - $100
Product view but no purchase – 16 -31 DaysDaily Budget - $100
Product added to cart, but no purchase – 16 -31 DaysDaily Budget - $100
Desktop DPA CampaignTotal Daily Budget - $600.00
Product view but no purchase – 1 - 3 DayDaily Budget - $100
Product added to cart, but no purchase - 1 - 3 DayDaily Budget - $100
Product view but no purchase - 4-15 DayDaily Budget - $100
Product added to cart, but no purchase – 4 - 15 DayDaily Budget - $100
Product view but no purchase – 16 -31 DayDaily Budget - $100
Product added to cart, but no purchase – 16 -31 DayDaily Budget - $100
CAMPAIGN LAUNCH
www.CPCStrategy.com | 619.501.6138 | [email protected]
Media Spend Allocation Breakdown
Mobile DPA CampaignTotal Daily Budget - $700.00
Product view but no purchase – 1 - 3 DayDaily Budget - $250
Product added to cart, but no purchase - 1 - 3 DayDaily Budget - $280
Product view but no purchase - 4-15 DayDaily Budget - $50
Product added to cart, but no purchase – 4 - 15 DayDaily Budget - $10
Product view but no purchase – 16 -31 DayDaily Budget - $15
Product added to cart, but no purchase – 16 -31 DayDaily Budget - $10
Desktop DPA CampaignTotal Daily Budget - $500.00
Product view but no purchase – 1 - 3 DayDaily Budget - $200
Product added to cart, but no purchase - 1 - 3 DayDaily Budget - $125
Product view but no purchase - 4-15 DayDaily Budget - $50
Product added to cart, but no purchase – 4 - 15 DayDaily Budget - $50
Product view but no purchase – 16 -31 DayDaily Budget - $50
Product added to cart, but no purchase – 16 -31 DayDaily Budget - $25
AFTER ALLOCATION
CPC Strategy Facebook EvaluationWould you like to speak with us about your Q4 Facebook strategy?
A. Yes, please.
B. No, thank you.
Questions for the Experts?Submit your questions in the chat box on the right
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cpcstrategy.com/facebook-advertising-management
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