Social media platforms can provide a unique opportunity to engage with your audience in a more personal and interactive way than traditional advertising methods. In addition, it allows you to receive customer feedback in real-time!
How to get started?
Google Analytics Audience Data: Analyze audience demographics and interests to better understand customer behavior.
Audience Research: Review customer reviews, reddit threads, and social media comments to identify customer needs and desires.
Creative Trends: Research the current creative trends on social media to find ones that may fit your brand.
Paid Media Targeting Interests: Identify interests to target customers on Facebook Ads.
Competitor Research: Understand messaging and creative strategies used by competitors on paid media channels and websites.
Setting a budget for your campaigns
Defining how much money to spend on a campain is not an easy task. Below we share a few tips that might help:
- Understand your revenue goals and work backwards by analyzing the number of sales you would need. Then multiply that number by your Cost Per Purchase average.
- Meta recommends having 50 conversions per week from a campaign. You can multiply your Cost Per Purchase average by 50 to see the “Meta recommended” budget.
- The most important thing you can do as a business owner is learn the platform and KPIs to understand what is causing poor performance to allow for wise budget decisions. There is no one size fits all solution to this.
- And lastly, spending more does not directly equal better results.
Strategy and Messaging
- Product. Talk about the product's quality and highlight that it's been made locally (when applicable)
- Social Proof. Show mass adoption of the product, you can achieve this with testimonials.
- Events. Think about life changing events that would cause your audience to buy or use your product and use them to tailor the messaging.
- Timing. Create a sense of urgency by making it a limited time offer
Marketing Budget Distribution for eCommerce Companies Across Social Media Platforms
More tips? Read our blog 'The beginner’s guide to social media marketing'