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Facebook Ads most underused feature: Custom Audience Lists.
If done right, FB Custom Audiences can help us increase revenue from past buyers.
And to win at FB Advertising in 2020, maximizing revenue per customer is critical.
Here's why. THREAD
If done right, FB Custom Audiences can help us increase revenue from past buyers.
And to win at FB Advertising in 2020, maximizing revenue per customer is critical.
Here's why. THREAD
We advertisers tend to focus on the "Awareness > Consideration > Conversion" funnel (or derivatives of the same concept).
This model is great, but has 2 flaws:
This model is great, but has 2 flaws:
Flaw #1 - The model doesn't consider post-conversion opportunities (aka repeat sales, retention, churn prevention & recovery, etc)
That's money left on the table. Mainly because retargeting existing buyers consistently OUTPERFORMS any other form of advertising.
That's money left on the table. Mainly because retargeting existing buyers consistently OUTPERFORMS any other form of advertising.
Flaw #2 - By not maxing out LTV, our target CPA is lower, forcing us to ditch non-profitable acquisition campaigns that could bring additional customers if we had a higher CPA.
As a side effect, in the long term we could get outrun by competitors who can afford a higher CPA and spend more $$ per customer.
A better version of the funnel would be something like this:
A better version of the funnel would be something like this:
For most companies, email mktg is the go-to channel for the right side of the funnel.
Email mktg performs well for a reason: It talks to people engaged enough to care opting-in.
But email mktg reach, measured as a percentage of reads/total customers, well... it sucks.
Email mktg performs well for a reason: It talks to people engaged enough to care opting-in.
But email mktg reach, measured as a percentage of reads/total customers, well... it sucks.
FB Custom Audiences help brands reach significantly more customers than email marketing.
At B2C companies, the reach of Custom Audiences can be as high as 75%.
At B2C companies, the reach of Custom Audiences can be as high as 75%.
Now, there's a BIG DIFFERENCE between both channels: Email is free, Fb Ads are not.
On email, we send the same newsletter to all customers and call it a day.
On Fb Ads, this is prohibitively expensive.
On email, we send the same newsletter to all customers and call it a day.
On Fb Ads, this is prohibitively expensive.
To run successful campaigns on Facebook aimed at generating repeat sales, you have to display an optimized message for each customer segment.
In fact, success boils down to 2 factors:
Properly segmented Custom Audience Lists
Great Ad Creatives
In fact, success boils down to 2 factors:
Properly segmented Custom Audience Lists Great Ad Creatives
It's basic common sense:
Got a sports ecomm and have customers buying golf clubs? Show'em golf stuff!
A beauty ecomm with customers buying products for dry skin? Show them dry skin tips!
You get the gist...
Got a sports ecomm and have customers buying golf clubs? Show'em golf stuff! A beauty ecomm with customers buying products for dry skin? Show them dry skin tips!You get the gist...
For the last year, we have been working with brands, big and small, experimenting and learning about the potential of Facebook as a channel to increase awareness of promotions, drive repeat sales, and improve overall LTV.
Here are some highlights of the results:
Here are some highlights of the results:
Maquillalia - A large EU based beauty e-retailer:
+97% in conversions from first to second purchase
+24% in revenue from promotional activities
Smilerepublic - Spanish DTC, leader in teeth whitening products:
+388% performance in A/B tests FB Ads vs Email marketing
+97% in conversions from first to second purchase +24% in revenue from promotional activitiesSmilerepublic - Spanish DTC, leader in teeth whitening products:
+388% performance in A/B tests FB Ads vs Email marketing
One of the 5 world's largest cruise liners:
+228% revenue from ancillaries, preboarding the ship
+64% in last-minute booking deals
(Pre-COVID data)
+228% revenue from ancillaries, preboarding the ship +64% in last-minute booking deals(Pre-COVID data)
We hope this thread inspires you to explore FB Custom Audience as an area of growth.
If you struggle with the creation of segmented custom audiences for your e-commerce, we are Relevanzz, a platform that does just that.
The product is currently in public beta.
If you struggle with the creation of segmented custom audiences for your e-commerce, we are Relevanzz, a platform that does just that.
The product is currently in public beta.
We are now inviting adventurous FB Ads experts, cutting-edge agencies, growth hackers & ecomm owners to try it out.
It's 100% free while in beta and you learn more here https://relevanzz.com/?utm_source=twitter&utm_medium=thread&utm_campaign=2020-08_twitter_launch
It's 100% free while in beta and you learn more here
https://relevanzz.com/?utm_source=twitter&utm_medium=thread&utm_campaign=2020-08_twitter_launch
And if you want to talk more about FB Custom Audiences, get a demo or discuss partnerships, just drop me an email to [email protected]
And finally, a short article that talks about our motivation to launch the product in public beta:
Enjoy! https://relevanzz.com/general/public-beta?utm_source=twitter&utm_medium=thread&utm_campaign=2020-08_twitter_launch
And finally, a short article that talks about our motivation to launch the product in public beta:
Enjoy! https://relevanzz.com/general/public-beta?utm_source=twitter&utm_medium=thread&utm_campaign=2020-08_twitter_launch
