The Customer Is King – Busting The Myth
article, blog, uncategorizedThe Customer is King – Busting the Myth
Bad Clients
Clients are the lifeline of any business as demonstrated by the adage “The Customer is King”, — a corporate mantra that places the client at the center of business success.
Prominent gurus encourage businesses to shower their customers with attention and pampering. As a result, most businesses find it hard to say “no”. Bad clients can wreak havoc on your business. Metrics such as the cost-per-acquisition (cpa) or the average time spent will suffer.
The best defence? Ensure that your business is not attracting bad clients to begin with!
How do we do this? By understanding your online customers’ behavior, making informed business decisions backed by reliable data, and tailoring your marketing and buyer journey to ensure the right message is conveyed to the right audience at the right time.
The first step is to build a selection of ‘bad client avatars’ and avoid them in future. The following are examples of the types of bad clients to avoid.
The “Unreasonable”
Unrealistic expectations or demands. Never satisfied. Very challenging. “Unreasonables” put pressure on your resources and drain morale.
Tip: it’s important to set realistic expectations in the buyer journey so the potential buyer knows what to expect. Buyer journey insights will help accomplish this.
The “Low-Baller”
Low-Ballers are looking for the lowest price possible. They are not interested in quality or value and are frustrating to work with as they are only interested in the cheapest options. Identify your target market’s income bracket and ensure that your ads and content target your market.
The “Flake”
When you’re marketing your business, cost-per-click is everything. Avoid attracting clicks from people who are not interested in your product or service. Flakes are time-wasters who click on your ads without any intention of buying anything. They might be curious, or they might just like clicking on things. Flakes increase your cost-per-click without bringing any value to your business. The best way to avoid attracting Flakes is to create ads that are relevant and targeted to your ideal buyer persona. If you’re attracting a lot of clicks but not getting many conversions, it might be time to reassess your targeting strategy.
Opentracker allows you to identify the types of clients who are visiting your website and understand their behavior in real time. This insight empowers you to optimize your strategy and buyer journey to ensure that you are attracting the right kind of attention from the right people. Bad clients can have serious effects on your business, so it’s important to be able to identify them early on. By using Opentracker to understand your online customers’ behavior, you can make sure that you’re doing everything you can to weed out bad customers, improve buyer experience, and increase your conversion rates.
Everything You Need to Know About Customer Journey Map
article, blogEverything You Need to Know About Creating a Customer Journey Map
Customer journey maps are one of the most important tools that businesses can use to understand their customers. A customer journey map is a visual representation of the customer’s experience with your business, from the moment they become aware of your brand to the point where they become a repeat customer. In this article, we will discuss what customer journey maps are, why they’re important, how to create your own customer journey map, and how to use a customer journey map to improve your marketing strategy.
What is a customer journey map and what are its benefits?
As we mentioned, a customer journey map is a visual representation of the steps that a buyer takes to become a loyal customer. By mapping out the customer’s journey, businesses can identify areas where they can improve the customer experience and make necessary changes to their marketing strategy. Additionally, customer journey maps can help businesses understand what motivates their customers and what barriers they face when trying to purchase a product or service. It allows a business to gain insight into customer perceptions and experiences at every stage of the customer journey.
There are several reasons why customer journey maps are so important for businesses. First and foremost, they help businesses to understand their target audience better. By understanding the customer’s needs, wants, and motivations, businesses can create a marketing strategy that is tailored to the customer’s unique perspective.
Additionally, customer journey maps can help businesses to identify potential areas of improvement in their customer service. By unpacking and understanding the customer’s experience, businesses can make changes to their processes in order to improve the overall customer experience and build lasting relationships.
Finally, customer journey maps can help businesses to create more targeted marketing campaigns. By doing the work to understand the customer’s thoughts, feelings, and motivations at every stage of the journey, businesses can create marketing campaigns that are more likely to speak directly to their target audience and convert leads or once-off visitors into lifelong customers.
How to create a customer journey map for your business
The first step is to identify your business’ goals. What do you want to achieve with your customer journey map? Do you want to improve your customer service? Do you want to create more targeted marketing campaigns? Knowing what your goals are upfront will allow you to create a customer journey map that is filled with the information you need to take actionable steps towards improving your outcomes.
Once you have identified your goals, you need to gather data. This data can come from a variety of sources such as customer surveys, interviews, focus groups, and customer service logs. Using an intuitive software like Opentracker to track your website traffic will give you valuable insight into how customers interact with your site so that you can identify exactly where you need to make changes to improve their experience.
Once you have gathered your data, it’s time to start mapping out the customer journey. Begin by creating a list of all of the potential touchpoints that a customer might have with your business. These touchpoints can include everything from becoming aware of your business and first interactions to purchasing a product or service and becoming a returning customer. Break down each touchpoint into smaller steps, so you can really see the detail in the journey start to emerge.
Once you have listed out all of the potential touchpoints, you need to create a timeline of the customer’s journey so that it is a logical progression. Include both the positive and negative experiences that the customer might have along the way. Additionally, be sure to include the customer’s emotions and reactions at each stage of the journey.
After you have created your timeline, you need to start adding detail to your map. Include information such as the customer’s needs and wants at each stage, the steps they might take to progress in the journey, and the channels they use to interact with your business at every stage.
Finally, you need to analyze your customer journey map. What does it tell you about your business? Are there any areas where you can improve the customer experience? Are there any areas where you need to make changes to your marketing strategy? By analyzing your customer journey map, you can gain valuable insights into your business and make the necessary changes to improve your customer’s experience and target your advertising and campaigns.
What are some common mistakes businesses make when creating customer journey maps?
One of the most common mistakes businesses make when creating customer journey maps is failing to include all of the potential touchpoints. It’s important to remember that customers can interact with your business through a variety of channels, so be sure to include all potential touchpoints in your map.
Additionally, businesses often make the mistake of failing to include the customer’s emotions in their customer journey maps. Customers have emotional reactions to every stage of their journey, and your map should reflect each one of them so you can have a complete picture of the customer’s experience and be ready to respond accordingly.
Obtaining data can also be a major challenge for businesses. While there are a variety of data sources available, it can be difficult to gather all of the necessary data and analyze it correctly. As a result, businesses often make decisions based on incomplete data, which can lead to sub-optimal results. To avoid this mistake, it’s important to work with a team of experts who have experience in obtaining valuable, real-time data that you can rely on to make informed decisions.
Opentracker allows you to track your website traffic in real-time so that you can obtain the data you need to create an accurate and actionable customer journey map. Our software empowers you to automate your customer journey reporting so that you can improve efficiency and maximize your resources. With direct access to our data analytics team, you can be confident that the data you’re using to create your customer journey map is realiable and will form the foundation of one of the most useful assets your business can own – a full picture of your customer’s journey that is ready for you to act on.
Increase the bottom line with Offline Attribution Metrics
article, blog, uncategorizedIncrease the bottom line with offline attribution metrics
How one company lost 42 million Pounds and what this means to be GDPR compliant.
articleHow one company lost 42 million Pounds and what this means to be GDPR compliant.
With the constant stream of sound bites surrounding GDPR, one could be forgiven to assume that most companies would have taken care to update their privacy policies and inform their customers about this transition.
Shockingly, according to a ISACA survey, not only are most companies unprepared, but only around half of the companies surveyed (52 percent) expect to be compliant by end-of-year 2018, and 31 percent do not know when they will be fully compliant!
Let that sink in…52% of companies, as of this very moment, do not comply with the (GDPR) General Data Protection Regulation.
Some of the biggest Tech and social media giants like Google, Facebook, Instagram, and WhatsApp have already been slapped with lawsuits for violating the GDPR law that went into effect on May 25, 2018.
If found guilty, EU regulators can impose fines upto 4% of global annual revenues; numbers that could easily run into the billions.
In 2015, TalkTalk, a British telecom company failed to securely store customer data and in the aftermath of the loss of data due to a cyber attack, not only was the company fined around £400,000 by British regulators, but it also lost more than 1,00,000 customers and 42 million pounds.
Such instances of data breach or data mishandling tell us the devastating impact of under -preparedness – lost revenues, dwindled customer base, negative publicity and heavy regulatory fines – enough to bring any company down to its knees.
India with an active customer base of 240 million was the largest audience country for Facebook. In the wake of the scandalous Facebook-Cambridge Analytica affair, Facebook revealed that personal data of 5,62,455 Indian users was improperly shared.
What was the effect of this revelation?
Velocity MR, a market research company, released a survey that
that found that after the Facebook security breach, 24% of users started sharing ‘’lot less’’ data, while 7% stopped sharing data altogether.
Let’s take a moment here and do some quick back-of-the-envelope-math and what this might have cost Facebook.
7% of 240 million works out to 16.8 million people avoiding Facebook. Losing
17 million customers roughly translates to Facebook shutting down operations in both Sweden and Austria!
That’s a lot of advertisement money to go down the drain.
Not only this, CEO Mark Zuckerberg had to endure negative publicity and a televised Q&A grilling session with legislators on both sides of the Atlantic.
With the latest lawsuit over GDPR non-compliance, Facebook with its deep pockets could survive another round of missed opportunities in advertising revenues and regulatory fines.
But honestly, how many businesses can afford incidents like this?
A study by Ensighten revealed that one of the reasons firms seem unprepared for GDPR, could be the lack of consensus over who is responsible for data protection within a business and how to go about it. What should be the first step?
Ryan Wain, chief marketing officer at Unlimited Group, advised decision makers to undertake a full audit on data held by a business.
He added: “Possibly the most important consideration is to avoid viewing GDPR compliance as a process with a hard and fast endpoint. Rather, it will be an on-going journey as you gather and process new data moving forward.”
It’s time to be GDPR compliant
For more than 15 years, we have been helping companies take smart decisions using data analytics. Now, we are also helping small & medium sized businesses stay compliant with the GDPR law.
The GDPR law runs to 11 chapters and 173 recitals and let’s face it, who has the time to sit down and pour through the contents with a magnifying glass?
But the good news is that we have you covered. Here are 3 things that you should absolutely know.
- Geographical location: Businesses in the EU are subject to GDPR—even if the data they’re accessing is processed outside of the EU. The reverse is also true. If you’re a company processing the data of EU citizens (either to offer goods and services, or to monitor behavior taking place in the EU)—it doesn’t matter where you’re based, or where you’re processing the data. You still have to comply with GDPR.
- Greater Penalties for noncompliance: The maximum fine for noncompliance with GDPR is up to 4% of annual global turnover, or 20 million euros—depending on which is greater.
- Explicit Consent required: Consent has to be given in an easy, accessible way before processing a person’s data. You also have to disclose the purpose for that data processing and make it as easy to withdraw consent as to give it.
(Insert video link – null/video/gdpr-what-is-it-and-how-might-it-affect-you/2A0C50F6-6248-49EE-AAFC-A505CB425705.html)
Here’s a quick 3-min guide of how GDPR affects your business.
At a one time fee of just €395, OpenTracker’s Quick-scan Analysis can do a thorough Data audit and help you identify non-compliant features and help you keep avoid the dangers of expensive regulatory fines.
With an expert team at your disposal, we can help you identify the loopholes and shortcomings in the present data handling regime in your company, the state of preparedness of your business to deal with the GDPR provisions and also chart out a custom plan to help your business become and stay GDPR compliant.
We have already helped hundreds of companies with GDPR-compliance. Have any questions? Why not ask? We would love to hear from you.
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Other titles for your consideration:
-83% of companies are in trouble due to GDPR non-compliance. Where do you stand?
-Facebook and Google are facing GDPR lawsuits. Is your company GDPR compliant?
Articles & White-papers
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- Definitions of Big Data
- Goal-oriented User Behavior
- Social Media Advertising
- Understanding Big Data
- High Traffic Website Measurement
- Universal search
- “Google search” through traffic
- Populate your CRM
- Web analytics dashboard
- Send report as PDF
- Big Data Orientation
- Show me all Single Girls using my App on an iPhone.
- Use Case – using OT to understand your clients
- New Report added – Custom events
- Updating, Redesigning Or Migrating Your Website Without Losing Analytics
- 1-click User-Tagging
- Complexity and Real-time search
- Tracking via api.opentracker.net
- Why Your Search Terms Don’t Show Up, and What You Can Do About It
- Introduction to Big Data
- Track user logins
- EU Cookie Law Confusion
- Mobile App terminology
- Social Media Advertising
- Drop in traffic conversion
- Improve Google ranking and PageRank
- Paid Adwords & free Google traffic
- 10 Tips To Get Through Tough Financial Times
- Hits or pageviews?
- Pay-per-click (PPC) advertising and campaign management
- Buying Traffic – PPC Ad campaigns
- Search Engine Optimization
- Online advertising strategies
- Clickstream or clickpath analysis
- Online Privacy Issues
- Buying Traffic – Bulk Clicks
- Using Statistics for Website Management
- Website Market Position
- Tracking vs log analyzers
- How to write a website Privacy Policy
- Access Facebook user profile data with FB Login
- Choosing Search Terms
- Traffic Conversion: Return on Investment (ROI)
- Website Market Worksheet
- You’ve Got Data – PPC Search Terms
- Definition & Differences Between Hit, Page, and Web Counters
- w3.org and p3p standard privacy policies
- Bounce Rate and Click-through Rate
- Building Online Community
- Creating web traffic growth
- Third-Party Cookies vs First-Party Cookies
- Why do I need a website tracker?
- Web Metrics 101
- Making stats work for you
- Making stats work for you
- Data Analytics In 3 Minutes Or Less
- Increase Your Revenue By 30%
Understanding Customer Journey vs Buyer Journey Can Affect Your Bottom Line
article, blog, uncategorizedHow Can Understanding Customer Journey vs Buyer Journey Affect Your Bottom Line
3 Customer Metrics That Increase Profits
article, blog, uncategorized3 Customer Metrics That Increase Profits
Remember that first sale? The hard work to make it happen?
Every purchase is the start of a customer journey. It’s the buyer’s vote of confidence for your brand.
Part of the brand’s experience is servicing this journey. The more perceived value provided, the more profits made!
The customer journey nurtures and improves the customer relationship. Knowing which metrics to track and leveraging this data will help you optimize the journey, increase perceived value and leverage profits.
Today I’ll take a look at three metrics you’ll want to track. By tracking these key indicators, you’ll be able to build strong, fruitful and lasting relationships.
1. Customer Churn Rate
Your customer churn rate is the percentage of customers who stop doing business with you. Reducing churn can dramatically increase profits.
Churn can be a symptom of poor customer service, a change in their personal circumstances or simply finding better deals. Understanding the reasons behind churn will increase profits. Do you have a process in place to monitor and reduce churn?
2. Customer Lifetime Value (CLV)
Your customer’s lifetime value (CLV) is the total amount of money a customer spends with your brand over the course of their journey. It determines how much you can spend to acquire and retain customers.
There are a number of factors that contribute to a customer’s lifetime value, such as purchase frequency, the average order value, and the length of time they remain a customer. By understanding your CLV, you can make more informed marketing and sales decisions that are focused on acquiring and retaining high-value customers.
3. Net Promoter Score (NPS)
NPS measures how likely your customers are to recommend your brand to others. How satisfied are your customers?
NPS is calculated by asking customers to rate their likelihood of recommending your brand. Customers who respond with a score of 9 or 10 are considered to be “promoters”, while those who respond with a score of 0-6 are considered to be “detractors”. The scores are then used to generate an overall NPS score, which can range from -100 to 100.
How to Use These Customer Metrics
Customer metrics will help improve the bottom line.
Take a look at the churn rate. Are you losing customers? Find out why. Counterintuitively it might be as simple as *raising* prices.
Next, take a look at the lifetime value. What are ways to increase the lifetime value? In a competitive market, the player with the highest lifetime value wins.
Lastly, look at your NPS score. If your scores are low, improve the customer experience. Can you improve the communication touchpoints or train the staff?
Add these metrics to your or your partners marketing dashboard and meet the goals.
How To Drive Business Performance Using Customer Journey Analytics
article, blog, uncategorizedHow To Drive Business Performance Using Customer Journey Analytics
Want to get more profits by focusing on the Customer Journey?
Certain technologies allow marketers and business owners to measure activity across multiple touchpoints.
Analytics, tracking, and web stats have been around for decades but only recently can business owners focus on their most important asset: the customer.
By stitching all metrics together you’ll be able to focus on the customer’s behavior.
Think of a KPI that needs improvement? Get the metrics setup in a dashboard and start working towards your goals like reducing churn, driving upgrades or increasing customer satisfaction – i.e. increase profits.
Are you curious about what helps most?
Start by measuring every visitor who comes into contact with your digital presence. Measure and combine all their behavior. This includes website behavior, clicks, logins, downloads, sign-ups and forms, as well as email and newsletter opens. Work to create a single view of the customer across all your channels.
Additionally, this information can be used to visualize flow in the Customer’s Journey.
The goal of your business is to help the customer on their journey to get dream results, with minimal risk, as fast as possible with minimal effort. Imagine that.
Start measuring KPIs that help the customer do this and start driving your revenue up.
The main actions are:
- Identify crucial steps
- Be able to zoom in and drill down
- Identify touchpoints that have big emotional effects
- Reverse engineer outcomes to leverage predictive analytics
- Promote content that brings in ideal candidates
- Eliminate content which generates unqualified traffic
- Automate the parts of the funnel that work
- Have sales and marketing focus on optimizing the journey
- Get main insights into a dashboard
- Continually improve by eliminating bottlenecks
How Data Science Is Revolutionizing the Music Industry
articleHow Data Science Is Revolutionizing the Music Industry
Summary
In this article, we will discuss how data science is changing the game in the music world. You will also learn about:
- Data science and its relationship with the music industry
- Music analytics and its role in producing music today
- How data science can be used to produce the next big hit
Introduction
Data science and music is a combination which might baffle a lot of people. After all, how can music be influenced by data? Don’t artists write their own music or sing songs depending on what they think is good? The answer is a little more complicated than that. While artists do have the choice of picking their own music, writing their songs and producing music videos based on what they deem appropriate for their brand, there’s actually much more going on than simply producing music.
Record companies are becoming very competitive; there’s this ever-mounting pressure to produce the next big hit. Producing quality music is a priority to most companies but there’s no point in creating music which people won’t like. After all, music companies want people to listen to their music all the time and spend their money on albums, concerts, merchandise and more. The music industry actually depends on a lot more than just raw talent to draw an audience. This is why so many music companies are turning to data science to help them determine which songs will cater to a larger audience.
This may come as a surprise to some people but, in the present music industry, it’s really not all about talent- it’s about how many people artists are able to convince to buy their music. The music industry has become a big business which generates billions of dollars every year. So, it should be no surprise when we say that record companies want a bigger share of the market. In order to do so, they can’t simply rely on the whims of their artists. They need something more concrete, something which will help them understand the general public’s changing taste in music so that they can reap greater profits. That’s where data science comes in.
Data Science and the Music Industry
There’s no denying that the way we consume music has changed. A couple of decades ago, albums were sold in cassettes and compact discs (CDs) which everyone would buy from designated sellers. Artists would go on tour, interact with fans and that was it. Now, with the rise of social media, things have definitely changed. Fewer people bother buying CDs from their favorite artists and instead turn to YouTube, SoundCloud, and Spotify to listen to their favorite music. All of these websites are free- unless you choose to sign up for premium, ad-free services- which makes you wonder where the management behind artists is able to pull in so much money each year. There’s an increase dependance towards concerts, ad revenue (from YouTube), merchandise and brand deals to make money. Also, social media has made it so easy for aspiring artists to put out their content, that it is so easy to get lost in the crowd. However, what makes music companies stand out from independent artists is the fact that they use data science to closely monitor what the general public is listening to.
The Rise of Music Analytics
Data science helps big music companies to analyze trends and predict what the next big hit might be. Companies like Spotify regularly release trends based upon the kind of music their users are listening to. Music companies can easily take advantage of this data available to see the trajectory of the kind of music which might appeal to a large audience. If the trend is going towards, for example, dance music, they’ll be sure to nudge their artists to produce such music. Similarly, the release of songs and albums can also be determined by using ‘music analytics’ (the term used to describe the analysis of music trends and more).
These analytics are then used by the marketing department of the company to make sure that the record sells and creates ‘hype’. It is very important to get people talking about music because it allows music companies to go through social media and, based on the consumers’ feedback, collect even more data which will help them schedule things like concert dates, music video release dates and more.
Producing the Next Big Hit
What’s the first thing that comes to your mind when you hear the words ‘hit song’?
Chances are, you think about a particular artist or band, maybe a song or maybe the beat or the chorus in the background which really makes a song stand out. If your answers were similar to what we’ve mentioned, then we’ve proved our point. That might confuse you but hear us out: big music companies often produce similar sounding music from various artists. Which may include likeness in genre, lyrics or even the beat. The reason behind it is quite simple: big music companies have directed your attention towards a certain kind of music- through years and years of analysis- so that you’re used to the kind of music they produce and more likely to listen or buy it.
It’s not a long stretch to say that music industries have designed their business model around making you grow accustomed to a certain type of music. The type is determined by music analytics and its potential to rise and compete with music produced by other music companies. All music companies try to nudge their audience to listen to their music only. This is why you might have noticed that when you’re streaming music on sites like YouTube and Spotify that you’re often recommended musicians from the same record company.
Producing the next big hit isn’t about raw talent anymore; it’s about taking years of data into consideration and then choosing a song whose genre and lyrics have relevance to the time of release, which will cause it to go well with listeners. Music companies don’t have to depend on one artist either; in recent years, we’ve seen songs by previously unknown singers to become instant hits.
Conclusion
As you can see, data science has greatly affected the music industry. While the primary motivation behind using data science has been to reap as much profit as possible, there is no denying that the use of data science in the music industry has evolved the industry more than anyone could have imagined. From predicting trends to using music analytics to determine when’s the best time to release music, set concert dates and more, data science has led to lasting impacts in the music industry which will definitely change the game in the years to come.
How to Run a FaceBook Ad
article, uncategorizedHow to run a facebook ad
CONTENTS
- Vocabulary
- What are FaceBook Ads?
- Why should I use FaceBook ads? (Statistics and Pricing)
- I’m convinced. Tell me more (Types and Formats of FaceBook Ads)
- How to ACTUALLY set up my FaceBook ad (And Beyond)
Vocabulary
- Ad – the final image or other media form that the potential client will see
- Ad set – the level where you decide your target and budget
- Ad campaign – your ad objective (you can run more than one campaign at once and have more than one ad set for one campaign)
- Ad account – the place you manage all of your ads
- Ad manager – the place you set up multiple ad accounts and see all the info on your ads
- Business Manager – the place you manage your agency’s advertising account
- Leads – Information from your audience e.g. phone numbers, emails for newsletters etc.
What are FaceBook Ads?
Simply put, FaceBook Ads are a form of publicity for your brand, product or service. They are a social media tool used to reach the audience on FaceBook and, if you so wish, Instagram.
Why Should I use Facebook Ads?
Well, FaceBook so happens to be the largest social media platform in existence at the moment. This translates into you having the potential to reach 1.62 billion of its users on the planet. Yes, you read that right.
That’s almost 1/4th of the world’s population.
Surveys say that users are over 50% more likely to buy from a business they found on FaceBook than other social media platforms.
About 140 million businesses worldwide use FaceBook Ads as a marketing tool with single entities earning millions of dollars from them.
This includes Ad agencies running ads for multiple clients.
By creating Ad campaigns, FaceBook has made it easier to run the right ad for achieving a specific goal for your brand.
With this tool and more, as you’ll see below, the process has been made quite simple to follow.
Facebook has 2 agreeable rules concerning cost:
-The least cost is 1 dollar per day.
-Your budget must be at least double your cost per click (i.e. the average cost it would take to get two clicks).
Outside these rules, FaceBook Ads cost only as much as you’re willing to pay.
You can set a budget that’s either daily or lifetime.
Daily means that your budget will be spread out through the day. Lifetime means that your budget will be spread out through the entire length of time you want the ad to run for.
If you’re having problems deciding, Facebook will suggest a budget based on your ad campaign/objective, your industry and other criteria.
According to Jorden Platten, the average CPC (cost per click) is $0.80 and the average CPM (cost per 1000 impressions) is $5.00.
In my opinion, Facebook Ads, when used properly, are well worth your money.
You’re convinced. I’ll tell you more.
This section of this article explains the different formats of FaceBook Ads that consumers see and the different types of ads based on what they help you accomplish.
If you feel like you know enough and just want to jump right into the process, feel free to skip this section.
Now there are 5 formats and 14 types. I think it’s more beneficial to read about the formats so we’ll start with those.
Formats of FaceBook Ads
- Photo/Single Image ads: These are also called links ads. You can upload a photo or status and add some text, a headline, and a description or use an existing post or status as your image ad.
Facebook has guidelines which you can check on FaceBook’s help documentation to check character count and image dimensions e.g. your photo’s size should be 1200 by 628 pixels if you want it to also be displayed on Instagram.
Also, the photo itself can have overlaid text but if it is more than 20% of your image, your ad might be displayed to fewer people, if at all.
Hint: Research suggests that the best performing images are funny photos or photos with people smiling, babies, pets or special offers e.g. discounts.
- Video ads: These tend to perform best as they are more interactive and contain more information.
Over 60% of consumers are more likely to purchase products they’ve seen a video on. Your video can pop up in a video someone is watching or as a story.
However, your video must be captivating from the very beginning as most people tend to abandon videos after a few seconds. It would probably be helpful to include captions or use videos that are easy to understand without sound as videos do not automatically play with sound (the sound has to be turned on manually by the user).
If you want your video to also be played on Instagram, it mustn’t be more than one minute long.
- Slideshow ads: Here, you can upload 3-10 photos and FaceBook will turn them into one slideshow for you.
You can also add sound and text. Slideshow ads loop and while they are similar to videos, they might be a better option for you as slideshow ads are easier to load on slower internet.
- Carousel/ Multi-image ads: These allow the user to swipe through 2-10 photos. You can add a link and headline to each photo or use one link and headline for all the photos in the carousel.
You can choose to allow Facebook to automatically show the best performing photo as the first.
- Collection ads: It is more interactive as users can swipe and zoom in or out.
This ad type cannot be displayed on desktops. In creating this ad, readymade templates are available and optional.
Disclaimers:
- Options b through to e allow you to include more information than in single image ads, are more interactive and therefore tend to perform better. They can be used to tell a story about your brand, show a product from multiple angles, display multiple products, explain a process or tutorial, or show before and after pictures.
- Your ads should contain or end with strong calls-to-action e.g. links that say “sign up here” or “get directions” or “shop now”.
- If you’re not sure what format to run with, you can use Facebook Creative Hub to create mock-ups of different formats to help you decide.
There are 14 types of Facebook Ads categorized into 3. They will be listed out for you in the process of setting up the ad. Each type accomplishes the particular objective for which it is named; however, some extra information will be given in this list.
AWARENESS
- Brand Awareness: In choosing this objective, you should run with a more general audience. You could also use this option to remarket to people who have interacted with your brand before but may not have fulfilled your main objective e.g. subscribing to a newsletter or purchasing a product. It is targeted at people more likely to look at the ad for a longer amount of time.
- Local Awareness: To publicize to people within a particular area.
- Reach: To get your ad/page to as many people as possible. Brand awareness is more focused on people who will remember your brand.
CONSIDERATION
- Traffic: To get people to click on a link. It is ideal for a small budget and works well if you’re trying to get people to read an article of any kind. This can be used to generate leads by driving people to your page. (In tracking the metrics of this, it is better to pay attention to landing page views than the number of clicks because not all clicks mean that someone actually viewed your content/website.)
- Post Engagement: This encourages people to like your content, view your videos, share your content, comment and engage with your page. The main benefit is that it lends credence to your page so if you’re a new brand or business, with little to no following, you might want to look into this. However, according to Jason Wardrop, this is simply a vanity metric whose target you’ll accomplish anyway if you run conversion ads; so it might be better to save your money on this and put it into a conversion ad instead.
- App Installs: This encourages users to install and use your app if you have one. This would probably be better suited for businesses like taxi companies, banks, etc.
- Video views: This is highly advisable, especially for businesses that are just starting out with no audience as video is a high-converting form of advertisement. This gets as many views as possible for the video.
Side Note: After the video has been sent out, you can create remarketing lists of users based on the amount of time people watched the videos for e.g. those that watched for 5seconds, 1 minute or 10%, 20% of the video etc.
- Page Likes: It simply gets people to like your page. This also is most useful, in my opinion for gaining social proof as a new page. However, you could also use it to grow a group by inviting the people who like the page to join a group.
- Event Responses: This gets people to attend your event.
- Lead generation: These help you gather information from potential clients via lead form ads that open in Facebook itself (not your website). You could also do this with conversion ads but the information gathered with lead generation tends to be more accurate because, in this system, FaceBook automatically fills the blanks with information that the users have already given it access to.
- Messages: Messenger bots are used to encourage users to chat with you; the bots could also be used to keep the conversation going. It is widely advised for brands that have expensive merchandise; it would give potential customers a convenient way to have their inquiries answered and objections were taken care of so that they can then purchase.
CONVERSION
- Conversions: This is used to get people to carry out your specified action e.g. making a purchase, filling a form, etc. As mentioned before, conversion ads are also used to generate leads on your website. The differences between these and lead generation ads are that the user has to manually enter the information here and that you have more control over what happens next whether to send the user to some other page.
To use the following two, the landing page should contain a Facebook pixel (which can be put in by you or your web developer) to help you monitor more details of user activities on your site after they use the link in your ad.
- Catalog sales: This encourages people to shop with you. You can remarket with this; for example, it will remarket a product or a similar product of yours to a person who may have looked at that product but didn’t purchase it.
- Store visits: This advertises, to people, your branch that is closer to them.
Disclaimer:
- it’s important that you choose the right objective because Facebook will show the ad to the people that are most likely to fulfill that particular action. If you try to get leads with a traffic ad, your conversion rate will be low because traffic ads target users who are likely to click on your link, not users who are likely to fill out a form.
- If you want to run just one ad, choose the objective that is MOST important to you at that time and run with it.
How to ACTUALLY Run Your Ad
You must have a Facebook Account to create a Facebook AD.
You can then create a page in your Facebook account for your brand or business. Use your personal account to create your business page (you can get banned if you try to open a new account for your ads alone therefore it is not advisable).
To start the process of running the ad, you can use Facebook Ads Manager.
ADS MANAGER
Using Ads Manager will show the ad on the page you used to create the ad so if you don’t want your page cluttered with ads, use the Power editor.
- Go to Ads Manager, on the top right corner of the page, click on ‘Create an ad’.
After loading your account information, it will present you with the list of campaign objectives for you to choose the one you want for that ad. Choose your objective. T
These are the types of Facebook ads we discussed in the previous section. They determine how you want the users who see your ad to respond and therefore determine the audience that Facebook makes available to you.
Hint: Note that ‘Boost your posts’ will mostly get you likes only.
- Pick an objective and fill in the follow-up details.
- You’ll be led to the ad set where you set criteria for the audience you want to reach. e.g. location, gender, age, interests, etc. You can create and save custom audience lists for future use. Fill as desired.
If you’re not sure what the target audience for your product or service should be, a google search could help you figure that out. You will also set your budget here. Facebook can suggest a budget for you and you can give Facebook an amount to spend for you. As discussed above, you can decide if you want your budget to be ‘daily’ or ‘lifetime’.
- Create your ad: Choose your ad format, select your photo. You will also insert the headline, text, and call-to-action you want to use to communicate your ad to your audience.
- Click on “Publish” at the bottom right of the page.
- Track and Measure: Go to your Ad manager dashboard and pick the ad you want to track; When you have on the ad, you’ll see “view charts” Like the image below.
Click on it and it will take you to a dashboard where you view your ads performance based on your set objectives.
Conclusion:
Facebook ads shelters the largest number of individuals amongst other social media platforms. Running an ad on the platform may seem complicated on the surface but this guide has broken down what you need to know about creating a Facebook ad. From creating a Campaign Manager account to Creating an Ad Set to hitting publish. Feel free to save and reference it anytime. Happy advertising.
The difference between Customer Journey vs. Buyer Journey can best be summed up as: The difference between Attraction and Retention.
The Buyer Journey is all about the steps a person takes before making a purchase.
The Customer Journey is about developing a relationship or customer experience with a person after purchase.
The word ‘journey’ is relevant for both customers and buyers.
The Customer’s Journey starts when the Buyer’s Journey ends.
A good analogy might be a race track. You run a race and you win a buyer. Now you running around the same track, win another race and sell something more to that customer.
Can it hurt your bottom line to not understand the difference? Of course. The big secret is that it costs more to gain a new customers (CPA – cost-per-acquisition) than to keep existing clients, both in terms of money and effort.
Heck, if you do your math right, you can even make a loss with your first sale to acquire a customer.
Think of it as running another lap around the track just one more time, instead of learning a whole new sport.
The point is that we are always on the lookout for the next campaign or promotion. Looking for new customers. It is tempting to keep thinking of new hooks and pain points.
Looking for new customers and keeping existing buyers engaged should both keep happening. But keep in mind that they are different funnels and require different strategies (call to action, offers, pricing, etc.).
Bottom line: approach these two types of engagement differently, be aware that they exist and require different hats.
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