Growth Hack #3 – This Google Shopping Case Study Earned +192% Revenue:
Midas Media managed to boost their revenue from Google Shopping by +192%, and profits by around 300%!
How did they do it?
1. They analyzed data and found that 8-9-word long search queries (product specific) generate on average +300% more revenue.
So they started to bid high against these terms.
2. Then they remarketed ads to those who: Viewed basket, didn’t commit to purchase Viewed a high ‘detail-view’ to checkout-rate product Stayed on website for over 4 minutes in one session Viewed site in the past 5, 10, and 15 days Visited site from high converting location Visited site from high converting device Viewed site and in top lifetime value segment
3. Then they segmented their data by mobile devices, gender, age, and geography and found who generates the highest ROI. They focused their ads specifically on the most valuable segment.
4. They found that time and day of the week when their ad was displayed heavily influenced their ROI. So they regularly calculated data and get something like the chart image above.
Then they created scripts that automated bidding across this custom schedule.
What we do know, though, is that they’re an option of ad placement within Ads Manager.
We also know that you need to select a compatible campaign objective in order to use them.
As of now, these include:
If you’re selecting specific placements for your campaign, you’ll find the search option within the Placements tab.
Alternatively, you can run a campaign using Automatic Placements.
If this is the case, Facebook will automatically show your ad in the search results – as long as the objective is compatible.
Making the Most of Your Search Ads
Considering the lack of info surrounding search ads on Facebook, the best advice we can give is to include it in a part of your current strategy as an additional placement.
With that, too, optimize them like you would any other, commerce-focused ad.
What do we mean by this?
Well, first we’re talking about design: Use bright, full-color, and eye-catching imagery.
Then, optimize your campaign functionality.
This includes honing in on your targeting, running remarketing ads, and incentivizing engagement (e.g. contests or offers).
Why You Need This for Your Facebook Advertising Right Now
We keep reiterating this phrase: “right now” when it comes to using search ads.
But why, especially if there’s still so many unanswered questions around formatting and optimizing?
Well, it comes down to competition and reaching new audiences.
In terms of competition: As we’ve seen with every other Facebook ad placement, advertisers saturate a space quickly.
Now, with the number of Facebook advertisers exceeding 7 million, it’s harder than ever to stand out.
A new ad placement – like Facebook search ads – offers a new opportunity for showing up in a place that’s not yet overrun by other advertisers. Webinars can also be a good place to start! Make sure you check out what some of the best webinar platforms are.
And going back to reaching new audiences, the reason is pretty intuitive but worth reminding.
It’s as simple as this: Search ads on Facebook and Marketplace let you reach people you could not with other placements!
Plus, showing ads across placements drives real results.
Facebook research has shown that audiences that saw ads on Facebook, Instagram, and Audience Network achieved an 8x higher conversion rate than those that were served only a single ad.
Being among the first wave of advertisers to use search ads on Facebook can drive real results while helping you get ahead of the competition.
It’s time to leverage this placement in your campaign right now.
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Growth Hack #1 – Privacy Copy Can Cost You 18.7% of Conversions:
A company tested two checkboxes for an email signup box.
Version A: just said “Terms and Conditions” Version B: Said “100% privacy – We will never spam you”.
Tests indicated that the word “spam” had an undesirable effect – even when used to assure visitors that they would not receive any spam. The hypothesis is that by placing the word spam in close proximity of the form, you actually plant an idea in the minds of the prospects:
“Oh wait, could they actually end up spamming me?”