During our lat show, we sat down with Facebook and Instagram marketing expert, Jennifer Spivak, co-founder of The Ad Girls, to discuss the most important things retailers need to consider when running Facebook or Instagram Ads.
According to Jennifer, there are three things that retailers must have in order to find success with Facebook Ads. They are:
- Your Messaging: What makes your brand or business unique? It’s important to understand and tell your audiences what makes you different. It’s also important that that message s composed of credibility, vulnerability, personality, and feel good. You’re not just selling products
- A Website That Converts at Least 2%: If you’re a retailer who wants to start using social ads to drive sales, you need to make sure your website converts at rate of at least 2%. That means that 2% of the people that visit your website purchase from you. That’s the percentage that makes Facebook ads worth the investment.
- Strong Backend Systems: As a retailer, you want to make sure that making sure your website has the backend systems in place so you can retain those customers, turn them into repeat customers, and make your advertising budget investment based on customer lifetime value.
According to Jennifer, the biggest mistake that people make when developing a paid Facebook Ad strategy is not understanding what paid ads are designed to do. Facebook and Instagram Ads are not a magic bullet that’s going to fix your business overnight. It fact, Jennifer says you want to view the ads purely as traffic. And when that traffic used properly, it has the ability to become a scalable, predictable system of revenue generation and growth for your business. But if the foundation isn’t there, ads not going to deliver what you expect.
We also sat down with Jennifer’s partner, Courtney Tarrant of The Ad Girls, to discuss her life on ranch, building her business outside a major city, and how to be strategic about Facebook Ads. In this video, she teaches you how to know if Facebook Ads are right for your business, if you should be running them, when you should run Facebook or Instagram Ads, and how to make the money you invest Facebook and Instagram back 10x.
And spoiler alert….Courtney shares the Facebook Ad metrics that matter. And they are:
- Cost Per C lick (CPC) — which should be less than $1.00,
- Click Through rate (CTR) — which should be higher than 1%,
- Add to Cart Rate — which should be 15%,
- Abandon Cart Rate — probably 30% won’t complete,
- Website Conversion Rate — which comes out to 2-4%.
To learn more about how to create successful marketing programs for your retail business. You can register to attend our next show to attend over 40 free seminars. You can also find many more videos on your YouTube channel.