With Black Friday slowly creeping its way into your sales calendar, it’s prime time for maximizing Facebook advertising and competitive sales efforts. Our e-commerce specialist and Product Manager, Lari, whipped up some quick and actionable tips to prepare your ad campaigns for Black Friday and Cyber Monday success in a matter of minutes. Lari, take it away…
We all know that Black Friday is a hot holiday in the retail industry, and it’s only getting hotter. A report by Adobe reports that Black Friday online sales for 2016 surpassed the $3 billion mark – $3.4 billion, to be exact, which is a 21.6% increase from the prior year’s sales. Advertising plays a huge role in keeping this momentum aflame. Basically all of your competitors – big and small – are running their ads on Facebook and trying to put their ads in front of consumers before and after the sales commotion. Here are 4 simple yet powerful ways to cut through the Black Friday ad noise and launch a Facebook ad campaign that drives results.
1. Ramp up your ad spend and optimize your creative
Why does this matter? Facebook’s ad auction doesn’t work like a traditional one where the highest bidder would win; but due to increasing competition in the market, the price to win an ad impression will inevitably go up. The downside: there’s pretty much no way around this, as laws of supply (limited advertising space) and demand (more advertisers with bigger budgets) apply. In practice, this means that in order to ensure consumers find your offer, you need to spend more and be a bit more strategic.
So an imperative question arises: How much more should you be spending on ads?
Unfortunately, there’s no cookie cutter answer as that’s totally up to your company’s initiatives. Statistically, the trend is to increase ad spend by around 30-50% in order to keep ads competitive, but this can be more if you’re in highly competitive vertical.
Don’t forget to review your creative!
If you haven’t optimized your campaigns or refreshed your ad creatives for a while, now’s the time to do so. Ad creative is paramount to the success of an ad campaign; generally speaking, 90% of information transmitted to our brains is visual. And since Facebook and Instagram are, by nature, visual platforms, creative matters. A lot. A relevant product offering and good targeting is one thing, but without that visual element, your viewers may not fully engage with your ad.
Here’s the upside: One way to minimize increasing prices in the ad market is to make your ad as compelling and relevant to your audience as possible. Facebook rewards ads that are more relevant for the audience delivering better results by reducing prices for the best ads. Sounds confusing? I bet, but simply trust me on this one. Well performing ad feeds its own positive cycle.
Taking action: When you’re increasing ad spend and adjusting your budget, make sure to update your creative so the ad differs from what a client may have already seen (and encourages users to stop scrolling and start interacting).
2. Piggyback your Black Friday clients to gain customers in December
With a huge influx of shoppers flocking to the nearest smartphone or desktop to indulge in Black Friday shopping, it’s also prime time for retailers to capitalize and simultaneously prepare for the next phase in the holiday sales period: December shopping.
Black Friday sales period is an opportunity to acquire new customers (and re-engage old ones) before the December sales kick in. Clients who shopped during Black Friday – and possibly delivered a negative return on investment – are also likely to shop for gifts in December. This should affect the overall value of a client from one month to the next – as well as your long-term success. Your job? Make sure they return after the sales bonanza!
Taking action: If you haven’t done so yet, enable a post-purchase re-targeting campaign that automatically kicks in one week after Black Friday to keep the momentum going well into December.
3. Re-activate your idle customers
If you’ve made the decision to launch your first Black Friday campaign, or are ramping up last years campaign, listen up!
It goes without saying that if your customers don’t know that you have exciting offers, they’re unlikely to visit your site. The solution: promote your sales. One solid strategy would be to have a week-long teaser campaign prior to actual key sales date so that your clients have time to eye out your offers.
Taking action: Re-activate your existing clients and market your sales. Use a custom campaign that targets customers who have shopped in past 180 days, ideally by using video content in the Facebook Collection Ad Unit. Go one step further and upload your entire email list to Facebook, then target them with the same ad. In order to increase your success, make the offer exclusive if possible – for example, share a secret link or password to access offers one hour before everyone else (because FOMO is a universal thing, folks).
In parallel, acquire new customers by targeting multiple lookalike audiences and customers who have interacted with your social media profiles to maximize your reach, as it’s key to driving more new sales in.
4. Maximize your week’s sales with a quick reminder campaign
If you’re already teasing your audience with offers well before Black Friday, this aggressive tactic may be right up your alley.
Re-engage buyers with a specific Black Friday-centric message: use this message to re-target your buying customers immediately (or up to 24 hours) after the purchase. This should be done during Black Friday week.
Follow this game plan to make sure your engagement tactics really resonate:
- Use a custom campaign targeting customers who have shopped within the past day.
- Incorporate compelling copy to really drive the message.
- Schedule the campaign once the sales frenzy begins.
- Schedule the campaign to be terminated once your virtual shopping doors have closed (i.e midnight on Saturday).
Not sure how to create a custom campaign? We’ll leave you with some quick insight on how launch your ads quickly and effectively:
While Facebook ads carry huge potential for driving sales, keep in mind that personalization is a multi-layered strategy. Check out our whitepaper on the 6 things you should do to prepare for Black Friday, Cyber Monday and beyond.