Are paid ads becoming too expensive?
Let’s take a look at Facebook, for example.
The number of advertisers on Facebook has tripled over the last few years. But the number of users on Facebook has only increased slightly.
More demand from businesses competing to show their ads while the amount of inventory is pretty much unchanged.
It’s no wonder the costs of traffic increased.
So, how do you stay competitive?
Getting more out of the same traffic you’re getting
Most people only talk about getting more traffic. And ignoring the equally if not more important metric:
You might be wondering: what is a conversion rate?
It can be many things, for example:
- How many arrived on your site and sign up to your newsletter
- How much of your traffic converts to become a paying customer
Conversion rates and traffic is a numbers game.
If you can convert more of your traffic to customers, that means you’re making more money for the same amount of traffic.
If you’re making more money, means you can spend more to get that customer.
That’s how you outspend and outbid your competitors.
The most important metric to take note of is your cost per acquisition. As long as you’re making more than the cost to bring in that customer, you’re golden.
The low hanging fruit to convert more traffic to customers
There are many ways to convert more of the traffic you’re getting into customers.
The low hanging fruit that I’m talking about here is recovering disappearing customers.
According to Shopify, 77% of carts are abandoned.
You have done all the hard work to get these people to your website, to view the product page, and add it to the cart. But for whatever reason, they didn’t complete the purchase.
If you’re using Shopify, here’s how to check your abandoned carts.
Go to https://[YOUR_DOMAIN]/admin/checkouts
And you will see something like this.
The reason we’re going after the abandoned cart is because they are hot leads.
They are nearly a customer.
They just need a bit of push to win them over.
The most common way most stores recover abandoned carts is using email. If you’re using Shopify, it is very easy for you to do that.
But here’s the catch.
Not everyone that adds an item into the cart leave their email address. So there’s a lot of customers that get missed out.
How to recover 10X more abandoned carts
Thanks to recent technology advances, there’s a better way you can leverage on to recover more abandoned carts.
It is using Facebook messenger.
You might have heard about messenger and chatbots and automation.
That’s because it really works like gangbusters.
You know why?
We all use messaging apps like Messenger, WhatsApp to chat with our friends, family and colleagues.
When we receive a message, we get notified instantly on our phones.
Don’t get rid of email. Email still works great.
Instead, use messenger and email together for amazing results. Let the customer choose how they want to interact with you.
How to use Messenger to recover abandoned carts
There are 2 ways that I’m going to show you. You can do either one or you can even do both.
The first strategy I want to share with you involve paying some advertising dollars on Facebook. It’s using Facebook retargeting ads combined with Messenger.
Using Facebook advertising laser targeting capabilities, we can target people who have gone to your checkout page but have not completed the purchase.
But in this ad, we are not directly sending the people back to your site.
Instead, we are sending them to messenger, where they will get a special discount code to complete the checkout.
Facebook loves it when you keep their users on the Facebook platform.
By sending them to messenger, essentially they are still in the Facebook ecosystem. That’s why you will see lower ad costs.
The Second Way
The second way is something that I recently learnt and it is absolutely brilliant.
The best part?
You don’t have to spend any money on ads.
The way messenger works is that anyone that has interacted with you on messenger is now on your list.
So first, how do we get them into your messenger list?
The easiest way is to add a check box to your add to cart button.
Another way is using a pop up or slide in box on your site where visitors are asked to connect with you on Messenger to get a discount code.
Another way is to have a chat widget on your website that is connected to messenger.
Now we have them on our messenger list, how do we use it to send abandoned cart reminders?
Here’s what you need?
A messenger builder platform like ManyChat or ChatFuel.
And an automation tool – Zapier.
When a customer abandons their cart, Zapier event will be triggered. And automatically, Manychat or ChatFuel will send out the message to your customer via messenger.
Of course, you will need to set up the messages before hand and when to send it
Now when they abandon cart, they will get message on messenger.
The money is in the list
When someone interacts with you on messenger, they are on your messenger list. And you can send messages to them after that.
As you know, we need to at least 5 touches before purchasing something.
So those prospects may not be ready to make a purchase right away.
And we don’t want to have to keep paying for the advertising.
Once we get them on messenger, we can send them messages to nurture them.
We don’t want to just spam them with promotional messages.
Instead, send them messages that add value.
Teach them something. Share with them the story about your brand and what it is about
And when they’re ready, they will buy from you.
Start using messenger and recover 10X more abandoned carts.
With technology advances in marketing automation and personalization, you can now convert more traffic to customers.
Then, you would be able to outspend your competition.
Crush them while they’re complaining about high costs of traffic.