With Facebook ads CPMs hitting record highs (meaning the ad placements are becoming more expensive), I wanted to break down some strategies that have been helping us get record LOW CPM’s.
A lot of companies are pulling back spend right now due to shipping logistics and delays -- so what does that mean?
A perfect opportunity to scale…
Yes, Facebook ad costs have been rising, and they will continue rising..
But there’s some things you can do to keep your CPMs + CPP low, and returns HIGH,
I’ll try to keep this short and sweet.
Here’s the breakdown:
1. Content is KEY: Ok, I know you’ve heard this line time and time again. But please dont forget it. The content in your ads plays a BIG part in the cost for your placement and therefore the returns you will get. Make sure your content / creative has the following
- Shows product in action
- Explains benefits of products within the first 3-seconds
- USE video -- tik tok / reel style videos work best (with text overlay)
- Have CTR target of at least 4% (and then scale the heck out of this asset)
- You should be thinking of yourself and your business as a CONTENT business, not just a product business.
2. Broad audience targeting
This past quarter we spent $1M+ on ads, and what has been working really well is broad targeting through CBO setups. We prefer the sniper method, but please test. Everything that works on one account does not always work on the other. Media buying is an art form
Here‘s the Sniper method:
- 1 CBO campaign
- 20 adsets
- 3 videos each
- Each adset has a cost cap around your desired CPP with $1 increments
- *** If your current FB ad budget is less than $3k / month - stick to simple CBO setup with 4 ad sets, and 3 videos in each ad set. Test a broad audience, website visitors lookalike audience, purchase lookalike audience, and interest stack audience.
3. Back-end flows (Email + SMS)
We all know that 97% of people that land on our site won’t buy that first time, so lowering our overall CPP has come a lot from optimizing our backend flows of email + sms .
What we’ve learned is that offering HELLA incentivizing deals on the backend, and 7-day drip flows will pick up a lot of cash left on the table
We also have increased our post purchase flows to increase the LTV of each customer we acquire. If you need ideas of email styles/flows check out reallygoodemails.com
4. Focus on highlighting shipping times
This has been SUPER important, and increased conversion rates during this holiday times. Use your shipping times as a selling point and highlight the last day to order for a christmas arrival in your email, sms, ads, and website banner
5. Customer personalization
Do what the big brands can’t --- give your customers a personalized experience. Call them and thank them for their order, send your VIPs a handwritten card for the holidays (use a platform like handwryttn to do this at scale).
Some larger brands are actually investing in call centers in 2022 to be able to give more personalized experiences to their customers - so please don’t take this tip lightly. Do it!
6. Leverage gift cards
I know, I know ----- your inventory is stuck at sea lol. No seriously, this year has been hectic for shipping. So what should you do? Leverage gift cards! Only 30% of gift cards are actually fully redeemed, and they can make a sweet offer for new customers and returning ones.
We ran a 50% gift card offer (paired with a bundle of our best sellers) and generated $30k cashflow -- at the time of posting only $3k of the gift cards have been redeemed. Try it and thank me later!
Again - I was trying to be short and sweet here (lol), so please let me know if this was helpful and/or if you have any questions!
Happy holidays and go get those sales! Consumers are still shopping!!!!