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 campaign is not an easy task. Below we share a few tips that might help:
- Understand your revenue goals and work backward 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 learning 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