[1/4] Most e-commerce stores are doing Facebook Advertising all wrong.
With new changes to Facebook’s algorithm, Facebook Advertising costs are going through the roof. At least it may seem for most of the e-commerce stores.
With margins as small as for e-commerce that might mean the end of Facebook Advertising. But don’t do that just yet.
That happens because you start it from a different side.
What do I mean by that?
Well, if you have taken any courses or hired an agency, all they talk is about targeting, lookalike audiences, retargeting, etc. Very rarely do they talk about optimising your whole sales funnel.
And with margins as low as they are in e-commerce business it is the most important thing.
Instead here are 3 things that you should focus the most in this order:
1. Increasing the frequency of the times the customers buy. F.
2. Increasing the average order value. AOV.
3. Getting traffic and converting that traffic into paid customers. In other words - client acquisition.
And we concentrate on each one of them in this order.
Why? Because e-commerce stores want results immediately. And that’s where the lowest hanging fruit! These customers have just bought from us, they might still have their credit card in their hands.
And if we manage to offer them something that would increase their overall experience with us, they would happily buy that.
Our goal as a business is to provide them that option.
Which helps us to increase our cash flow via increasing AOV and Frequency they come to us.
… and only when we do all this we concentrate on new clients acquisition.
Amazon made it public that they made more than +35% of Revenue from cross-sells and up-sells! That’s more than 1/3 of the business!
In these 4 series of posts I will be sharing our agency ideas how you could maximize increase your Frequency, AOV and Acquire New Clients for your e-commerce.