In 2018, advertising your product or service on Facebook or Instagram is the norm. Whilst some companies make it look easy to use these tools to generate revenue, many still struggle to gain visibility. This Wednesday, OneCoWork hosted an Online Marketing Masterclass with answers and solutions for you. Read on to find out how you can convert your digital marketing budget into sales.
Patrick Wind and the AdsAccelerator team have over 6 years of experience in digital marketing and have quite some tricks up their sleeves! They shared with us how to be successful with Facebook ads, SEO optimization and Instagram marketing strategies. Let’s look at some of the most important tips they offered.
FUNNEL THEORY AND PRIORITIZATION
A lot of companies that find digital marketing difficult face the problem of targeting. There are over 2.19 billion of active users on Facebook of varying age, gender, culture and socioeconomic status. It is irrational to think you can target all of them. Prioritization is necessary. Prioritization is to decide who you should focus on and how much resources to spend on a certain group of audience. To help you prioritize, let us introduce the funnel theory.
The funnel theory is based on the process of internet traffic, from people surfing social media (e.g. Facebook) to them buying your product. There are four stages, finding, clicking, looking and buying. Finding and clicking occur at the social media site. People’s attention gets captured and “find” your advertisement and then they “click” on it, leading them to your site. This is the process of conversion. In Facebook algorithm, you will only gain visibility by having at least 50 conversions per ad per week.
After conversion, people “look” in your site, seeing if anything is worth buying. If something interests them, they proceed to “buying” it. This processes is called “retargeting”. Throughout each step, it is inevitable to lose some audience. That is why this model is called the funnel model.
To prioritize, you face a dilemma. Do you choose to prioritize conversions or do you prioritize retargeting? It depends on your product and target audience. If you have a product that is cheap and can be used in multiple occasions (e.g. soap), you may want to focus on conversion. Not every customer check out with a full cart of your finest Savon de Marseille, but you gain visibility on Facebook. However, if your product is luxurious and has specific use (e.g. Audio equipment), you may want to prioritize securing the purchase.
Rather than trying to target every group, and missing them all, target specific groups of people at the right stage. This allows you to regain control and plan accordingly.
BLACK AND WHITE ZONE OF INSTAGRAM
Instagram is a very powerful tool. However, it has a few characteristics that are difficult to handle. Firstly, it is mostly used for personal entertainment. Online personalities can easily gain more popularity than companies. Secondly, it is has an invisible hurdle to becoming “popular”. The already popular accounts can still gain thousands of followers in a minute, whilst small accounts struggle to break the 1000-follower milestone. Thirdly, it is hard to monetize on the viewer population. The audience may be interested in your stories and news feed, but to buy from you is a different story.
To solve the above problems, let’s divide the methods into two zones, the black zone and the white zone. White zone methods are most effective after you get through the hurdle. Black zone methods allow you to gain visibility fast but they are…let’s say less authentic.
White zone methods include the use of influencers and giveaways. We know personal accounts find it easier to generate popularity. Capitalize on that. Invite influencers to your office or store, gift them with some of your products or propose a collaboration. Based on the principle of reciprocity, they may post something on their Instagram, giving you a shout out or simply including your product in their stories. Also, you can collaborate with other companies. Choose those who have a different viewer base and propose a crossover. You can both benefit from each other’s followers.
Be patient with monetization. Some companies can’t wait to plug their products in all their stories and new feed. That’s called hard selling and most people don’t buy it nowadays. It is best to use Instagram as a relay and include links to giveaways, codes to a discount or just your website link. You don’t need to have the picture of your product or the logo of your company every time.
Black zone methods are less ethical, so we're not suggesting or encouraging you to use them, but it's worth knowing that companies employ them and they've recorded success. They include use of 'bots', to like and comment on your posts. Essentially, you're paying for views, likes and comments which increase your ranking on the algorithm and therefore help you break the invisible hurdle, of visibility.
Thank you AdsAccelerator for the inspiring master class about digital marketing. It was very informative and useful for every entrepreneur. There are many more tips and tricks than those mentioned in this article so be sure to check them out on their website. We look forward to working with them in our new office in Placa de Catalunya.
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