How much you understand e-commerce can make or break your business. Yet, you often think that it’s too complicated and miss your chance to make it a success. That’s why we’re here to tell you how simple it actually is.
The Secret Sauce of E-Commerce Success: Performance Marketing
A sales funnel - You might have seen or heard about it, but you don’t know how to build one. Based on how aware consumers are of your brand and how close they are to becoming your customer, you can break them into 4 layers: cold, warm, hot, and existing customers. By building this funnel, you’ll be able to structure your ad budgets, content, and marketing efforts effectively. Curious? You’re welcome to learn more about it in the video.
Here's a quick rule of thumb on splitting your ad budgets effectively. Commonly, we break it down into three parts:
(1) Prospecting [Cold] - 70%
(2) Retargeting [Warm + Hot] - 20%
(3) Retention [Existing] - 10%
Make Your Ads Work with Content Funnelling
Believe it or not, there’s no perfect or best content to run as ads, but the right ones. It’s easy to identify the right content for your target audience. Just put yourself in their shoes and understand what motivates or entices them.
Audiences in each funnel are motivated differently. For example, a cold layer audience who is unaware that your brand exists is more likely to click into an ad that shows a quick demo of your product vs a big promo since they do not know what the product is. Discover how to make the right ad that brings the right content, the right experience, and the right motivation for the right audience in the video. You’ll be surprised how simple it is to get the right ad with some interesting examples we’re sharing with you. Be sure to catch some bonus strategies shared in the video so you can reap the low-hanging fruits of your business.
Take the Omnichannel Approach and Diversify Your Sales
Did you know that 3 out of 4 shoppers hop between multiple channels before they are converted? How can you catch these conversions at every path they take, or at every step of their journey?
Don’t make the same mistakes that failing businesses do by putting all your eggs in one basket. You need to diversify your marketing channels by taking the omnichannel approach. We’ll show you how in the video. It’s time for you to discover different channels like Meta (Facebook and Instagram), Google, Email, and even Messaging (SMS/ WhatsApp) to diversify in this world of shoppers hopping everywhere. Feel free to learn about it in the video on what’s the right channel for you to start with, or go next.
Stop the Guesswork with Data Analytics
When it comes to e-commerce, data analytics is your best friend. You’ll be able to find a good benchmark for setting your target KPIs, understand your brand and your audiences, and identify patterns, trends, and consumer behaviours. With this information in your hands, you’ll be able to know what and how to do e-commerce right. Feeling lost? Learn about what metrics you should read and where to find them in the video.
Takeaways: Know your product, and know your audience, stay curious and keep testing. That’s what e-commerce is all about. If you’re interested in making your e-commerce successful, contact us to discover how Z21 can help.
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