There are many techniques for conversion optimization, including advanced and creative strategies for those working with a low to non-existent budget. At Camilyo, we understand small businesses (SMBs) need cost-effective campaigns to fit tight budgets. In the previous blog post, we focused on daily techniques that can be applied to small business websites to continuously maximize conversion rates. Once you’ve applied these techniques to your client’s websites, we recommend you run another conversion optimization strategy that does not necessarily require big allocations - the campaign.
A conversion-oriented campaign is a planned sales and marketing strategy that uses one or more channels to reach out to potential customers and drive transactions. Campaigns are especially effective for SMBs that are naturally limited in their ability to generate organic traffic. They can include retargeting methods and paid campaigns on Google and Facebook.
1. Retargeting campaigns:
Retargeting is an online marketing campaign that can boost conversions by reminding users who left a website of that company’s brand, products or services, compelling them to convert. According to kissmetrics, this demographic can be made up of up to 98% of a website’s visitors. An old comScore study found a seven-fold increase in site visitation and doubled boost in conversion rates after a mere four weeks since the launch of a company’s retargeting ads. While indirectly related to SMBs, these findings could reflect new trends in the small business market.
There are several retargeting methods, one of them being the usage of Facebook pixels, where cookies are dropped to track website visitors’.
You can also implement retargeting as an e-mail reminder. E-mails are sent out to potential customers registered in your SMB’s Customer Relationship Management (CRM) software. Add a discount to significantly increase the chance of conversion. This tactic should be used sparingly so your small business client’s own customers will not learn to wait for these discounts before making a purchase.
You can similarly retarget site abandoners and anyone in your client’s CRM via banner ads that typically follow their audience wherever they are surfing. Although, if budgets are exceptionally tight, retargeting via email would be more cost-efficient, especially when using digital site platforms, such as Camilyo, that include email marketing.
While big brands can afford to retarget all site abandoners, small businesses would best benefit from directing their more modest budgets towards customers who failed to purchase after expressing interest in specific items. Your must first track user behavior with your SMB’s CRM to know what products the consumer is seeking and only then run a campaign.
2. Paid Campaigns on Google and Facebook
Paid campaigns on Facebook and Google are drastically different from retargeting through e-mails or banners. They are also extremely advanced and effective ways to reach out and convert desired customers especially when using custom audiences.
A custom audience is a curated audience list made up of a variety of parameters, including location, interests and other demographic characteristics. Both Facebook and Google campaigns utilize similar custom audience selection processes. Google's analytics engine develops preconfigured audiences and allows for the creation of new audiences using existing segments.
Facebook has much more information than Google on existing page fan demographics and can be used to target specific potential customers, matched to the business’s followers. The algorithm analyzes the audience of choice and then a campaign is built around a new audience with similar parameters.
Utilizing a custom audience campaign is an ingenious way to turn your SMB client’s fans into paying and loyal customers. You won’t know who the selected audience is per se: you must trust Google or Facebook to build the target audience, which has proven to be extremely effective.
Here’s how Google and Facebook have each tapped into the custom audience campaign realm:
A. Similar Audiences
Similar Audiences is Google AdWords’ way of enabling businesses to target users possessing similar characteristics to your SMB’s existing website visitors. The rationale behind this strategy is that they are more likely to be interested in what your SMB has to offer. Google mines this data by browsing and collecting information on users’ activity over the most recent 30 days, including a required minimum cookies. If your small business’s audience is too small to be used as a base for a Similar Audience, the option will simply be disabled for their account.
Use this straightforward, yet powerful tool to drive clicks from valuable new prospective customers to expand the reach of existing remarketing campaigns without any additional costs. Research indicates that it leads to almost 50% more clicks and over 40% more conversions when used in combination with retargeting campaigns.
B. Facebook Lookalike Audiences:
A Lookalike Audience campaign reaches a custom audience most likely to be interested in the small business based on similarities between them and existing page fans or other characteristics you define. Facebook identifies common qualities among the page’s audience in geographic locations of your choice and targets them through Facebook Ads. Multiple Lookalike Audiences can be created for different target countries. As it leads to double or even triple the results of more standard or traditional targeting methods, Lookalike Audiences is currently the most effective Facebook tool for locating ideal future customers.
Once you create the Lookalike Audience and allow Facebook to analyze and select targeting options on your behalf, you can easily grow your SMB’s Facebook page. You can also use Facebook Ads to direct members of the Lookalike Audience to your client’s website, increasing leads and encouraging site registration and/or sales.
One main advantage of using Lookalike Audiences for small businesses is its ability to create highly relevant Facebook Ads and scale campaigns quickly and easily in an informal environment. Lookalike Audiences are created based on a percentage sample of people in the target country. You can gradually increase this percentage as higher ad frequency is reached, making this method cost-effective for budget-conscious SMBs.
If your small business client has a very small or nonrepresentative following, it would not benefit from creating a Lookalike Audience. The curated sample would simply not reach the desired potential customers. Facebook has not released statistics that give a definitive answer to the number of followers needed to create an effective Lookalike Audience. However, we recommend building it only if the business has at least 1,000 followers. Based on our experience, this ensures the audience is not solely based on personal acquaintances of the business owner and employees.
Which should you use?
Google and Facebook’s advertising methods are complementary. Facebook Ads are sent to your SMB’s target audience’s news feeds and as random banner ads, while Google Ads show up when your customers search for particular keywords. From a strictly financial perspective, it is more cost-effective for small businesses to advertise on Facebook rather than Google, as the cost per click is lower. Conversely, Google Ads are based on what the potential customer is already interested in, therefore can be more likely to convert. So at the end of the day, both are effective methods of advertising when set up and monitored properly and we recommend trying both and see what works best for each individual business.
For small businesses, converting customers is much more difficult than simply driving traffic towards their websites, products and services. At Camilyo, we allow scale management of different campaigns, making it easy for you to simultaneously achieve lucrative results for many clients.