The latest news from the world’s leading multichannel solution.
We’re headed to Austin!
This week two members of the Codisto team have flown to Austin, Texas for the 2021 BigCommerce Partner Awards.
After winning the APAC Merchant’s Choice Award in 2020 over Zoom, we’re delighted to be able to appear in-person as one of the three finalists for this year’s Customer Growth Award, recognizing “technology partners whose outstanding solution has generated the most revenue growth for BigCommerce merchants”.
It’s the perfect way to kick off another great year with BigCommerce, and the shared commitment between Codisto and BigCommerce to deliver growth through multichannel, building off the announcement last year of Codisto becoming an Elite BigCommerce Partner and the introduction of free and discounted Codisto plans for all BigCommerce merchants.
This week’s top articles and guides to keep you in the know and help upskill your ecommerce strategy.
Get started with Facebook Ads
If you’re not already using Facebook Ads to promote your brand and products, chances are it’s on your to-do-list. But as with any new paid digital channel, you’re asking the same questions all smart sellers ask.
- What will it cost?
- What returns can I expect?
- How does it work?
- How much control and visibility will I have on my investment?
If you’ve already used marketing channels like Google Ads or even Amazon Sponsored Products, you’re probably already familiar with ad auctions, bids and targeting. Facebook Ads hits a lot of the same beats but is set up a little differently.
Google Ads lets you target people by matching your chosen keywords with their search terms. It’s a simple, elegant way to connect your products with people you know are looking for them.
Facebook targeting is a little different. People don’t go to Facebook to search for products, but that doesn’t mean Facebook doesn’t know what kinds of brands and products their users are interested in. With Facebook you can use things like demographics, online behaviours and interests to create audiences to target. It’s not quite so simple as picking a few keywords, but it doesn’t mean you can’t reach highly qualified customers and generate traffic and sales through your store with a well-targeted ad campaign.
Facebook also offers powerful retargeting options, which let you target customers that have visited your site, purchased from you in the past or even interacted with your Facebook ads.
Once you’ve set your target audience and launched an ad campaign, Facebook’s algorithm uses an ad auction to determine which advertisers get their ads surfaced, weighing quality factors they consider about your ad against your chosen “bid” – the amount you’re willing to pay for an interaction with your ad, either:
- Cost Per Click (CPC): You’ll only pay for an ad when someone clicks on a link in the ad. You set a maximum amount you’re willing to pay per click. Research shows that advertisers should expect to pay an average CPC of $0.94 on Facebook, but this can vary across different industries.
- Impressions (CPM): If your objective is to have your ad seen by as many people as possible, you can bid with a max CPM – the amount you are willing to pay per thousand impressions. Brands that want to improve their awareness on the platform should expect to pay an average CPM of around $12.07.
- Cost Per Action (CPA): By setting up Facebook pixel tracking, you can bid using a target cost for conversion actions that occur on your site, for example, a sale or the completion of a sign-up form.
Once you’ve created your ad, targeted your audience and set your bids, you can also set a budget for your campaign so you can start with a small investment as you try Facebook Ads, and rest assured that as your campaigns run in the background, your costs won’t exceed the amount you’ve budgeted.
Success on Facebook Ads all comes down to how well you target and optimize your campaigns. There is a lot of trial-and-error involved, and plenty of targeting options and ad types to explore as you determine what works for your business objectives.
If you’re new to Facebook ads, you should take a measured approach and start small, monitor the performance of your ads constantly, and slowly increase your investment as you start to see results.
This week’s must read articles from the world of ecommerce and multichannel.
New features, fixes and updates to Codisto products.
Automated Currency Conversion for Walmart now Available in Channel Cloud
Codisto Channel Cloud merchants with Walmart connected that operate an online store from outside the US can now manage their currency settings to automatically convert their store’s default currency to USD for their product listings on Walmart.
The feature will be released to all Channel Cloud customers tonight and can be accessed from the Settings view.
If you have any questions or need help setting up your Walmart currency conversions you can reach out to our support team at any time.