These are challenging times. And that’s the truth.
The coronavirus has already delivered a major blow to businesses and economies around the world – and top experts expect the damage to continue.
As an e-commerce store owner, you have a leg up on many other different types of businesses and business models, as consumer habits are trending towards more online shopping.
Good news for you, but what else can you do make sure your business survives and thrives during challenging times?
Audit Your Messaging and Lead with Compassion
Almost all of the brands we work with at one point has asked, “is it insensitive to be advertising right now during this crisis situation?”
It’s a legitimate question. And the fact that you’re thinking about this, already shows you have empathy for the situation and what others are going through. Taking that one step further, how can you show that compassion towards your audience?
You should audit not only your Facebook ads, but also your Google Ads, website, affiliate marketing, brand partnerships, ambassadors and emails to make sure your message is;
- Relevant/not outdated as far as promotions, covid-response, free shipping etc.
- Compassionate and informative as far as aligning how you’re helping during uncertainty, fear, a disrupted life
- Informed as far as delayed shipping, affected supply chain, etc.
I don’t have to look too far beyond the brands I work with to find good exmaples: H&H Outfitter’s design that supports the PPE, Hyde’s blog series, “a yogi’s guide to public health,” and Everviolet’s Q&A with a doctor about Cancer and Covid-19, to name a few.
Track Your Attribution
First, let’s start by defining attribution.
Attribution is the process of identifying a set of user actions across multiple touchpoints that contribute to the desired outcome and then, assigning value to each of these touchpoints.
If you are shaking your head in confusion. You are not alone. Here’s an example:
A customer comes to your website via a Google ad but leaves before buying. Then they come back later via a Facebook ad. They click on the add subscribe to your email list, and then convert 3 days after they open their welcome email.
So, which of these marketing efforts do you give credit for the sale? The Google ad? The Facebook Ad? The email? This is where attribution comes into play, and weighing the different touch points before the conversion. A few models I like to look at include:
- First Touch
- Last Touch
- Even Credit
Facebook’s free and stand-alone tool called Attribution is key to helping you uncover this. You can find Facebook Attribution in a separate section within your Facebook Business Manager account.
Once you have this in place, you can assign conversion credit to the various touchpoints along the consumer journey, to understand what’s really driving your business outcomes and where you should focus your resources to maximize your profits.
Dial in Your Re-Targeting Strategy
There are many ways to deploy a Facebook retargeting strategy, yet many marketers make the same, and costly mistake;
Running a retargeting campaign that targets everyone who landed on their website in the past 90 days.
The issue with this strategy is that it is casting too large of a net, and in times of a recession your retargeting strategy is one place to put a microscope. Not only will a poor retargeting strategy cost you additional dollars, it’s a huge turn off for your audience.
There are three main ways to run a strategic remarketing campaign:
- Based on time (ie. 3 days, 7 days, 14 days)
- Based on specific products viewed (ie. dynamic product ads or specific URL retargeting)
- Based on actions taken on your site (ie. Add to cart, initiate checkout, purchase)
Ideally, your strategy is a combination of all of these strategies.
If you spend the extra time needed to properly set up your retargeting campaigns, you will not only spend less money, you’ll see higher click-through and conversion rates. You’ll get more for less.
Focus on Your Base
Your past purchasers are already familiar with your product, and simply put, it’s going to be cheaper and easier to get repeat customers back again; to buy more of the same product or purchase another product.
Through Facebook advertising, you can target past purchasers through;
- Your pixel
- Importing an email list of purchasers over time, for a certain product, by lifetime value or average order value
Keep in mind, you’ll want to look at your analytics and see the best time to target your past customers. It may be two weeks later, a month later or even three months later depending on your product. If you’re not sure what’s the best time to retarget post purchasers, look at your CMS data to see if you can spot any timeline trends of your repeat purchasers.
Create Strong Video Content
Especially now, your audience is being inundated with memes, news and loads of organic content from friends and brands alike. So how do you cut above the noise? Video has been proven time and time again to be effective, especially when reaching a new audience.
You don’t need get a fancy camera or hire a videographer, you can be just as effective with a well-done iPhone video, or GIF turned video file. Choose clarity over production quality, and always, always, always: design with sound off, delight with sound on.
Whatever you do, don’t stop your advertising efforts.
Audit your spend, and maximize your profits.
Lead with compassion, know which channels are growing your business, create strong video content and dial in your retargeting. You got this.