If you want to advertise in eCommerce shops but don't know where to start,
this article will help you build a winning strategy using Madgicx Audiences.
When first choosing an audience, we want to cast as broad a net as possible to see where the 'fish are hiding.' Once the fish bite, we can keep on scaling in those directions. Madgicx built an ARR strategy to cover all segments of the audience funnel. More about the overall ARR strategy here.
The first segment you should look at are the Acquisition audiences; specifically the
Acquisition Prospecting Look-A-Like Audiences (people who have never engaged with your ads before).
When choosing Acquisition Prospecting Audiences we recommend testing as many angles as possible to find the best audiences.
To start, ask yourself the most macro questions:
- What is the customer segment? (How many lifetime purchasers do you have)
- What is the video viewer segment? (How many people watch your video ads)
- What is the visitor segment? (How many people visit your website)
- And finally which one is going to drive the results for you?
Madgicx's eRFM audiences are some of our most powerful audiences for eComm. They have the special ability to optimize by automatically generating multiple duplications of the same selected eRFM audiences with slight changes in recency, frequency, and monetary value; and anywhere from 24 hours-3 days of delivery, the software will pick the top performing audience and use it for the ad set. More about eRFM customer audiences here.
The best strategy when starting out is to test whether conversions will arise from quantity or quality of data. We recommend launching Infrequent Silver Value Customers from one side of the scale and Frequent Platinum Value Customers from the other side of the scale. This gives you the ability to test the broadest customer segment vs. the most micro customer segment.
Other than the eRFM audiences, some other great audiences for eComm include Top Seed Audiences and Top URL Audiences. Keep in mind, if you have catalogs setup you can choose our Product Affinity and Category Affinity audiences.
Now you can ask yourself three more macro questions:
- Have I chosen the right Audience?
- Is the Audience big enough?
- What is the quality of this Audience?
After a few days you can analyze your results.
Note**Early indicators of under performing ads can be a poor CTR and expensive CPM.
Once you feel you have built solid audiences in Acquisition, you can put your attention on re-targeting since we want to keep testing different angles.
We can cover all of our re-targeting audiences in just a few clicks:
To start with, our recommendations are the following:
- Recent visitors 0-30 days
- All high intent visitors 0-30 days
- All visitors 30-180 days
- All high intent visitors 30-180 days
Once you've covered the full Re-Targeting funnel, you can test the performance uplift by selecting our micro tactics, such as:
- People who visit your website multiple times
- People who spent time considering for more than 3 minutes
- Deep browsers: people who spent more than 8 minutes on your website
This can help you find quality prospects and convert them into customers.
Speaking of which, it's time to discuss Retention...
Our Retention audiences only track customers from the last 180 days (according to the Facebook Pixel memory).
To begin, we suggest always taking the broadest customer segment which would be Basic Retention from the last 180 days, and then (as always) you can choose more micro audiences as seen below.
It's important to remember that no matter what - selecting the right audiences does involve a bit of trial and error, but once you begin to see results, you can scale in that direction and then you'll be able to go ahead and set up our optimization tools such as bid testing and A/B testing to get the most out of your audiences!