For any ecommerce merchant, analytics is a key component is creating sales and marketing strategies to engage their consumer base. It is critical for digital marketers to know how to use their results to grow their audience and increase their Internet presence. From interrogating key SEO buzzwords, understanding block chain and algorithms, analytics can also feel overwhelming at times but it isn’t impossible to manage. Before you can master your analytics usage, you have to understand that it is more of a philosophy rather than a rigid set of rules. A lot of vendors have a lot of misconceptions surrounding what comes with good analytic managements and here are a few tips on how to better optimize your analytical results.
It Doesn’t Have to Be Expensive
One of the biggest misconceptions of analytics is that it is very expensive – and it can be with some vendors electing to hire third-party contractors to oversee this task for them. Software programs like Adobe’s Marketing Cloud can cost upwards of $100,000 a year, which can be a heavy financials burden on smaller, independent companies. You do not have to rely on this type of service to manage your analytical data when services like Google Analytics, HubSpot, and Hotjar can do the same job for a much lower price.
Collecting vs. Understanding
Many vendors fall into the mistake of putting too much focus on collecting as much data as they can on their audience. However, collecting the data is only one half of the equation. What many tend to neglect is the process of actually interpreting and understanding the data they have. Collecting the data the will not help you understand the consumer. A vendor must create a process to thoroughly review and master. What does the data tell you? What are the factors are driving this data? What are your conclusions and reviewing the data? All of these are important questions ask after you gather your information to analyze.
Reporting Isn’t Everything
This may come to a surprise to some but it is a very important truth. Reporting isn’t all there is to analytics. As mentioned earlier, it is more of a philosophy and a process that starts with gathering your data to drawing your summary of the information you have. Depending on the type of online store and your traffic, there is no definite answer on how often you can report your results. It can be monthly, quarterly, or longer. It is about what works best with your operation.
Facebook Business pages promote customer engagement, track demographics, and act as online window displays.
E-commerce retailers have countless ways of promoting themselves online. And leaning on social media should be a top priority in their content marketing strategy.
Facebook, in particular, acts as an online business card and offers a Facebook Business page. Plus, it’s absolutely free to set up!
Of course, you can pay for added extras like ads. Even if your e-commerce retail business has just launched, at the very least, claim your name to a page. It’s an economical marketing strategy.
The primary benefits of a Facebook Business pageAvailable are many benefits of owning a Facebook Business page, but here are the three basic ingredients. Retailers can:
Actively engage with customers. Communicate with your customer base and make long-term relationships. Build an interactive platform, and even use the integrate Facebook Messenger, to provide general information about your products, and address questions or suggestions. Even promote sales via pinned post or boosted post.
Monitor analytics for demographics. Understand your customers’ demographics and turn it to your advantage with Page Insights. Knowing this can allow you to tweak each post’s tone and content to appeal to and target your ideal customer base. Facebook collects user data so why not use it?
Drive traffic to a site. Once you understand your target audience, you can funnel customers directly to your website in the “About” section or even set up a Shop and Catalog feature within the page.
How to make the most out of a Facebook Business pageLet’s dive deeper into each of the above ingredients and demonstrate specifics on how they apply to an e-commerce retailer.
Use Groups and Polls
When engaging with your customers, groups and polls are both underrated tools on Facebook. But they can provide a lot of information on your customer base and how they view products.
With a Facebook Group, retailers can build a community around a relevant topic that your fan base is interested in discussing. For instance, if you sell rugs, create a group surrounding styles of rugs, best cleaning methods, and other home decor tips.
And inside your Facebook Group, you can occasionally create a poll. Doing so can offer tons of insight and value to your community. For instance, you could ask “What’s your favorite home decor style?” The answer not only tells your community what’s trending, but also give a hint on what rug styles will sell well this season. Win-win.
Spy on your competitors for research
This one ties into the analytics mentioned above. Not only can you monitor your customer base, but with the “pages to watch” report, you can also spy on your competitors.
You can track things like their total page likes, posts, and engagement (reactions, comments, and shares). You can even track competitors’ ads to see how they market themselves and how well each ad performs.
Funnel traffic to your e-commerce siteDriving traffic can also provide sales funnels for your e-commerce business. Inbound marketing is still an excellent strategy.
Check out our post on Facebook Ads to discover how to optimize and find your target audience.
Parting words on Facebook Business pageIt seems like Facebook’s algorithm changes quite frequently. More recently, it has listened to its own consumer base and made a point to limit the number of ads that come across our feeds.
As an e-commerce retailer, this may seem challenging. But there are better ways to engage with consumers than simply placing direct sales or promotional content under their nose.
Instead, retailers should focus on entertaining and fun consumer experience using groups and polls along with their Facebook Business page.
Find the perfect ad campaign to target your market audience.
As an e-commerce retailer, to target consumers and funnel them to your Facebook business page or even your website, you need to understand how to use Facebook ads to your utmost advantage.
Let’s take a closer look at some of the Facebook ad benefits, the types of campaigns best used for retailers, and talk about a few methods to display your product and more importantly—your brand.
Benefits of Facebook ads for e-commerce retailersFacebook ads are a powerful inbound marketing tool for driving traffic to your site. And it’s excellent for long-term growth.
Each ad campaign type uses cost-per-thousand impressions (CPM) bidding, which offers a cost-effective way to attract new consumers for e-commerce retailers. Instead of paying for each click, retailers are charged per 1,000 views.
Marketing objectives: which campaign do you choose?When you decide to create a campaign and begin the setup process, expect to be asked: “What’s your marketing objective?”
Start by choosing one of the two available campaigns: Reach and Brand Awareness. The main difference between these two ads is this:
Reach ads essentially target the audience you need.
Because this type of ad is designed to reach the maximum viewers as possible, you get a “frequency cap” before it’s shown to the same person twice.
With this ad, you are also charged per impression—excellent for capturing the attention of a small audience.
Brand Awareness ads go a step further, casting a more widespread net.
If your brand is new, you may need to launch an ad campaign simply to get noticed. Facebook calls this a Brand Awareness ad.
It’s wise to go with Brand Awareness first. It grabs the attention of would-be consumers, who choose to “Follow” or “Like” your product, which will eventually help build demographics and drive more targeted—and profitable!—Reach ads.
Using ad recall lift optimization, your e-commerce business page will only present ads to users who are most likely to become customers (by maximizing reach and recall through impressions.)
You are also only charged per impression, not per click. And the bid is automatic.
Build out and direct ad viewers to a Product CatalogOne optimal way e-commerce retailers can take advantage of their Facebook business page is by launching “product catalog sales” campaigns.
Offering products for sale on a Facebook catalog is just a start. But when retailers set a “product catalog sales” campaign objective, it returns people to products in which they’ve shown previous interest.
Use Carousels to display products Available are several ways to capture the attention of your audience:
Out of the four, Carousels offer an excellent way to dangle products in front of potential consumers. This interactive ad format prompts Facebook users to swipe “cards” to view more products.
But what makes this style perfect for e-commerce retailers is that it allows you to display up to ten images or videos, optimizing your ad campaign! And on each “card,” you can highlight product details, create Call-to-Actions, and even link to different landing pages.
Let’s also assume for a second that you’re not a direct to consumer brand and instead sell directly to designers and other businesses. Even if you lack a product catalog on your Facebook business page, Carousels can provide a product story instead.
If you sell tableware, imagine each card featuring an image of a dining table as it’s prepared for guests. And the final card as everyone gathered around the table enjoying themselves.
Final thoughts on Facebook adsFacebook ads offer numerous ways to promote your brand to 2.32 billion monthly active users (MAU) worldwide. That’s an enormous amount of people.
But to reach the right people, it’s important to understand your brand and your target market audience. Fortunately, Facebook allows you to do both, tracking analytics and demographics. You might be surprised who your target audience is or who they become! So it’s also important to continuously monitor your analytics as you push those campaigns.
Now, what are you waiting for? Create your first Facebook ad!
Even if you are sworn to avoid being swallowed by the social media craze that consumes an inordinate amount of time and energy from a growing number of everyday people, you are a de facto participant if you run an ecommerce business. At the outset of Facebook’s transition from strictly a college kids’ platform to a worldwide social gathering place, few took it seriously enough to consider investing in marketing there. After all, it’s primarily for catching up with high school friends, developing a love life, and commiserating with fellow NFL fans when your team is on a downslide. Right?
Not anymore. Like any other viral entity, Facebook and other social media venues have fine-tuned the art of pitching to businesses. Meet Facebook Analytics, a handy tool provided by the social media platform that crunches data to specifically introduce you to interested parties by way of measuring visitor activity on your page.
The bad news first. Recently Facebook began limiting its “Audience Insight” feature with a new algorithm that restricts this data to users who have liked your page. It’s an unfortunate move in that it delineates potential followers and customers. This privacy-driven decision goes hand in hand with the company’s response to regulatory and consumer discontent. Rolling out Facebook Ads was a big step for the company, albeit to the dismay of many users hoping to escape incessant commercial advertising. But like you, they need revenues, and business owners should look seriously into the unique opportunity they present.
The ability to narrow ad targets to an appropriate audience is huge. You sell a line of hipster cosmetics for young’ns, so why waste your time placing ads on the news feeds of men in their 60s? Unless your role is to advertise jobs or housing, and you were caught up in the very recent debacle in which Facebook is facing charges by Federal authorities for suborning discrimination through demographic targeting (another story altogether), you’re free to select an audience most likely to warm to your goods.
Yet aside from advertising—or rather to supplement it—your Facebook page itself can yield important information that helps refine product offerings, gauge interest, and stay atop of a marketing plan that works.