Targeting the right audience while curating an Ad strategy for an e-commerce platform is highly emphasized because of the benefits it brings. Facebook is a thriving platform, especially among the younger and the older population. People are more likely to spend a lot of time here, making it the ideal platform for advertising,
What is a “Targeted ad”?
Targeted advertisements or focused advertisements are those that help organizations in reaching the potential customers in the right locations, specific age group and other demographic characteristics that are of pertinence to the business.
Specific Targeting: The best way to gain exposure when building a brand
Specific ad targeting allows organizations to provide a clear definition to Facebook on whom they perceive to be their target audience. It also allows establishments to customize ad types for a potentially smaller audience- namely the target group or the audience group identified to bring about the best Return of Investment (ROI) in terms of audience development and can possibly become your customer. This ROI can be in any form; be it increase in website traffic driven from running ads, a spike in the sales of products or any specific conversion relating to your e-commerce business.
For example, a boutique in Hyderabad that sells trendy clothes for young women can set their target audience profile as follows
Gender: Women
Age Group: 18-30
Demographics: In and near Hyderabad.
This can help you reach the right audience without an overpowering budget.
Broad Targeting on Facebook for E-commerce:
Broad targeting comes into play when a major brand with existing clientele wants to both retain existing customers and attract new ones. Broad targeting is best suited for FMCG, real estate and other buyer persona agnostic industries.
While broad targeting can increase an organization’s possibility of finding new customers, it is relatively more expensive. Similarly, it is equally important to construct a strong number of revisiting customers to help e-commerce thrive and sustain, and broad targeting facilitates that.
The cost of building a targeted ad on Facebook:
A mélange comprising multiple factors are crucial in deciding the cost of the ad, the results it brings. Prior to launching a campaign an organization needs to consider the following factors, and obtain an optimized quote:
1. The definition of focus or target audience.
2. The type of business or industry.
3. The quality of the ads.
4. The geography or location of target audience
5. The placement of ads- Facebook’s News Feed, side columns, Messenger, or Instagram.
Prime factor that influence the system:
The bidding system on Facebook focuses on providing value by determining the worth of the content. It helps the best and fittest or organizations secure good page slots (positions on the page of potential customers).
Another set of important factors to consider while crafting ads will be the quality, the relevancy of the content and the value it will provide to your targeted user. This helps organizations win bids even with a smaller monetary bidding amount, generating higher impact over time.
It is not necessary to have a huge budget to run successful ads. There are millions of ways to build a brand in a budget. Tracking sales and experimenting with different marketing and sales strategies is one way to go about it.
The process of creating ads for existing customers to upsell and target customers based on their interests is a strategy many e-commerce industries are adopting in today’s world.
The right kind of strategy for targeted ads and the efforts taken to understand the customer profile will be a huge win-win for the organization and its customers.
Leverage the power of targeted ads and reach the ideal customer using targeted ads, without having to sift through millions of untargeted potential customers.
