3 Tips Every Consultancy Business Needs to Grow Strong Find success by implementing the right tactics and strategies in paid advertising.
Opinions expressed by Entrepreneur contributors are their own.
The upheaval caused by the recent global health pandemic has changed the dynamics of the online world. Brands, businesses, and entrepreneurs are turning towards digital mediums to continue their business activities and retain their positions in the industry, sometimes with the help of paid traffic consultancy firms.
Brandon See has demonstrated how entrepreneurs can find success by using astute decision-making skills and implementing the right tactics and strategies in paid advertising.
Online consultancy firms have been able to generate massive revenues and cash for e-commerce clients through paid advertising. But for most of these firms, the success they enjoy today did not come easy. They had to spend a lot of money to test strategies and tactics initially to eventually develop their own in-house strategies that would yield results for their clients. Through his firm, Digiceptual, See helps beauty, fashion, and apparel brands generate more than seven-figures through paid advertising
Here are the top three lessons See and his team learned from their past five years of experience working with e-commerce clients.
1. Creatives
A successful ad creative can make or break the success of the business. By having an arsenal of creative styles, it will help determine which is best for the company's purpose. Single image ads, videos, carousels, and collection ads can all provide results. It is not always about high-quality ads; in fact, making a high-quality ad doesn't mean a high performing ad. It is often quite the opposite. Making the ad look organic is essential as social media users are spending time on the platform for its social aspect, not for the ads. It's important for the ad to blend in as much as possible. A simple Instagram story with eye-catchy story symbols and gifs can work very well, even if it is shot on an iPhone with no fancy edits, just an individual talking to the camera.
Related: Stop Overthinking Your Ad Creative
2. Objectives
Ninety-nine percent of the time, the only objectives of concern are conversions, catalog sales, and lead generation. People must run ads either for lead generation or sales. One may ask, "Why not traffic?" Well, Facebook is quite clever. Its algorithm pushes on what the objectives achieved. If one aims for traffic, they get clicky visitors. Traffic is where the objective is to make people visit the website and for this, the Key Performance Indicator (KPI) is strictly focused on the number of times the link was clicked. When it comes to conversions, the objective is to get more subscribers, leads, sign-ups, or purchases and the same is true for Facebook pixel.
The Facebook pixel gathers data from the website and simultaneously communicates that data with Facebook so that they can link their website to their audience on Facebook. Running the conversion objective means that Facebook will show their ads to people who recently bought their type of products and ended their activity on the "order confirmation" page. It will look to acquire customers at the lowest cost per acquisition or at the highest value, depending on the bidding structure, as per Facebook's algorithm.
3. The funnel
In ads, there is a common segmentation approach:
Top of the funnel includes cold interests, look-a-likes, and is a Facebook free-for-all.
Middle of the funnel includes followers, video viewers, and page/account engagers.
Bottom of the funnel includes website traffic, view content, add to carts, initiate checkouts, and purchasers.
Retention means that it doesn't stop at a purchase. It also includes repeat buyers and upsells as well.
Related: What is a Sales Funnel?This funnel is based on all of this Facebook pixel data. A sales journey can be created when information is combined with the Facebook pixel data, right from the ad to the order or lead. This helps simplify the entire process because you will know every step that a potential customer takes, where they may drop off and where you can retarget that customer.
