Monday, August 19, 2019

The Expose Power 5

With Facebook preaching about their new ‘Power 5’ for paid advertising (Dynamic Creative, CBO, Automatic Placements, Account Simplification and Auto Advanced Matching - for those not in the know), we thought it would be fitting to write a blog about our own Power 5.

The Expose Power 5 are the five pieces of the eCommerce puzzle that fit perfectly together to scale your business. When combined, the Power 5 work cohesively to raise brand trust and awareness, customer retention and most importantly your bottom line. Let’s get cracking…

1. Product Knowledge

Product and customer knowledge is power. With a thorough understanding of your product, it’s unique selling point and your ideal customer under your belt you can target these customers, meet their expectations, solve their problems and make sales!

It sounds simple, but you would be surprised how many business owners don’t have a clear understanding of their products USP and ideal customers. If you are a business owner, we’d like to ask you this: How well do you know your product? What makes your product unique, separating you from your direct competitors? Who needs it? Who wants it? What problem does it solve for them?

If you’re paying for advertising, whether it be Facebook marketing, Google ads or SEO, and you don’t have the answer to these questions - you might be wasting your money. Without these product and audience guidelines, your audience targeting, ad copy, creative, keywords and search terms will be missing the mark and you won’t be reaching the people who are ready to buy. However, when you DO have these answers, that’s when it’s go time. 

2. Organic Socials

Having an organic brand presence on a range of social media platforms is key to building trust and a relationship with your customers. Your organic socials is where you can interact and start conversations with your customers (through messaging, comments and likes) and get an idea of what they like and best respond to. This can then be translated into your paid advertising to maximize your ROAS. 

It’s also vital to have a consistent posting on your socials as you can’t solely rely on paid advertising to be your silver bullet. If a potential customer sees a great Instagram ad and decides to click through to your feed only to find you haven’t posted since 2017, you’ve instantly lost brand legitimacy, and you can bet your bottom dollar they aren’t going to be making a purchase. You can deep dive into our tips and tricks for growing your organic socials here.

3. Paid Advertising 

Facebook and Instagram advertising - it’s what we know and love. With over 2.41 BILLION active users and counting on Facebook alone, we’re able to reach and target consumers in a way that traditional and organic marketing never could. We can target based on their interests, demographics, location, activity, friends and more! Plus campaign results are easily measurable in real-time using analytics data.

Facebook monthly active users worldwide since 2008

Of course, Facebook and Instagram aren’t the only paid advertising platforms to consider. There’s also Google Ads, Youtube, Snapchat, Pinterest and LinkedIn, just to name a few. The more you’re across (so long as they relate to your industry and customer), the better of a position you’ll be in to secure your place in the market and SCALE!

4. Email Direct Marketing 

More commonly known as ‘EDM’, Email Direct Marketing is essential for boosting your retargeting stack capabilities, returning customer rate and - in turn - sales. With a multitude of EDM platforms available for use, it’s not only easy but also largely cost-effective.

We recommend establishing an abandoned cart, post-purchase and repeat purchase EDM sequence. Through these sequences, you can add value to your customers in a genuine and personal way. This value can be through providing customers who have abandoned their cart with more information about your brand and a special discount code for their purchase. Alternatively, for past customers, it can be informing them about new products being released or upcoming sales. 

When a customer is targeted with both an EDM sequence AND paid advertising - that’s when the magic happens. 

5. Customer Experience 

The final frontier of the Expose Power 5 is customer experience. Acing your paid advertising, organic content, EDM sequences and product knowledge is meaningless if you don’t provide a positive customer experience.

Word of mouth is the oldest form of marketing in the book, and a customer's experience is a key determinant in whether themselves or their family and friends purchase your products. Positive customer experiences and reviews are gold, not only because they build brand legitimacy and grow your customer base, but also leave you with a strong returning customer rate. And the importance of returning customers? It’s estimated 40% of an eCommerce store's revenue is generated by only 8% of it’s customers, and this 8% is likely to be returning customers who already trust and love your products.

Graphic: Smile.io

In a world where industries and marketing platforms are saturated with an ever-growing abundance of brands and products, let your customer experience be what truly sets you apart from the rest.