Paul Ryaznanov CEO of MageCloud(a full-service eCommerce Agency) interviewed Dennis Yu on Facebook Ads. Paul is working on eCommerce and helping brands maximize their revenue alongside helping them with marketing. He has the best combo of knowledge and skills, and he is one of the leading service provider agencies (MageCloud) on eCommerce services.
- How product-based businesses get the most out of Facebook Ads.
- With the iOS14 and targeting changes, how should we adapt our Facebook ad campaigns for tracking and proper structure?
- What are the techniques best for their Facebook marketing campaigns, organic and paid?
- How do we best use short videos to drive sales?
Some important points of the discussion
- If you’re an agency, then you’re going to make sure each of your clients has a business manager because that’s necessary to be able to operate and do things like custom audiences, which you guys already know about.
- This is another argument that you want to set your audiences to larger. Not because you just want to hit people randomly, but because the system is going to be able to optimize for you. And they’re not going to charge you as much on that traffic. So you get a double win here.
- A lot of people say you shouldn’t have the frequency go above two per ad set per week. It’s generally true.
- If you have a good product or service, you’re actually going to have a lot of unattributed. We call that delayed attribution and delayed attribution is in the current window of 28 days, which is now seven days.
- Facebook cut the window to seven days because of this whole iOS 14.
- Your ROIs and sales and all that are going to appear to be lower but actually, they’re just as good as they were. They just changed the window that the reporting, the data.
- Some people need to have a ROIs of five. So a lot of people in e-commerce, usually have their overall blended ROIs at four or five because they can’t afford more than a 20% marketing cost of sale. It depends on what your margins are.
- By changing the Instagram account and making it a business account. You’re not going to lose the reach opposite to what most people think.
- If you have your plumbing setup, then Facebook, TikTok, and your Snapchat pixel install the same way.
- I don’t believe in running ads continuously because that’s like leaving the water on and hoping that you’re going to remember to turn it off later.
- What I normally do on Facebook on a page is I would boost post and run it against a custom audience. Or inside ads manager, I would run against a 1% lookalike choosing conversion.
- If you’re doing retargeting, we recommend starting on Tik TOK and Snapchat. It doesn’t matter because if it’s retargeting, these are people who have already visited your site, people who are already on your email list. So this is just guaranteed free money on TikTok or Snapchat.
- I have the three stages of the funnel awareness, consideration, and conversion. They have the same objective names. As you see on Facebook, TikTok and Snapchat are copying these guys to do the same thing.
- I almost never choose top-of-funnel objectives because I think that’s just wasting money because I think a lot of brands are, they love the idea of reach and views and all this, but you see this here we have the same three stages.
- If my local business is in LA and I’m a real estate agent, I don’t want to target all the California. It’s too big, but here I can target down much smaller. Of course like everywhere else.
- A lot of people, like to spend time messing around inside targeting and you can do it inside Snapchat and TikTok. But I don’t recommend it. I don’t think that’s really the key. I think the key is re-uploading your one-minute videos that have been working on Facebook but just for fun.
Is your ability to get your goals, content, and targeting together mainly 15, second and 62nd, right?
One-minute videos that you’re collecting from your customers, where you’re talking about your business and how you got started, or you’re sharing your knowledge about how your product or service is being done behind the scenes kind of stuff, your ability to collect those goals, content, and targeting and get them into the system.
What’s your part as a business owner?
The loading of the mechanical administration of ad accounts is not a pro-level thing. This is an admin thing. The pro is the expertise, the value is the collection of the goals, content, and targeting, which is on you.
As a business owner, entrepreneur, or marketer, you can not hire an agency. To do that part. So ultimately the value is in your strategy.
- For some reason, people think oh, I need to have a Facebook ads expert. No, you don’t. I just logged in and I showed you how the ads are organized. I just showed you that once something’s working, you just keep it going and you put more money on it. And you take that winner from Facebook and you copy it into Snapchat and TikTok.
- I just need to make sure my strategy is right. Meaning my goals, content, and targeting of those ingredients. That we put inside the machine and hire other people to build the machine.
- There’s no Facebook, TikTok, Snapchat, or Twitter ads expert. All there is a strategy. Once you collect these items, then you just have someone load them into the machine, across all the platforms.
How do you get the winners?
The winner is whatever your lowest cost per conversion is provided. It’s statistically significant. So ideally 50 plus conversions for that particular ad. Don’t make a decision when there are only one or two conversions that are not statistically significant.
Would it be silly to run retargeted ads on Snapchat and TikTok? If you don’t actively maintain an account on those platforms?
No, it’s not silly. When was the last time I posted a Tik TOK or posted something on Snapchat years ago, but I’m a business person? I want to drive sales and conversions. I know the pure Tik TOK folks are going to say, it’s not just singing and dancing and all that, but I’m not a consumer of the platform. I’m here for sales. There’s a difference between being a passenger on an airplane versus being a pilot.
If you have 1000 bucks. How would you divide the budget into different parts?
I will do it about one-third, one-third, one-third. When you start, you’re going to start by driving conversions for several reasons.
- You need to make money. When you make money, you’re going to be able to spend more money and reinvest those profits.
- You need to send the clearest signal of conversion into the system. I don’t want to just pollute the system with a bunch of people watching videos, and clicking on things. I want the system to know who’s converting.
Where do eCommerce people lack?
- Most people that do e-commerce there are so product-level focused on features in the images, they forget to tell the story, and they can’t do video. So you need a combination of videos and you want to humanize it, take your top influencer, take the top user that you have, take the founder, tell some compelling stories, and do what the Kickstarter version is.
- Understand your customers. What you could do is get, the last 10 people who have purchased them on zoom and ask them about how they’re using the product, and how they like it.
- Why did they choose, why did you buy from me XYZ products, and capture that with their permission, and turn those into stories and say, “Wow, that was so helpful to us. Do you mind if we share what you said on our social media? And of course, they will say yes. Now you can use it as ads.
- If you’re an e-commerce person, you need to talk to your customers and collect their feedback.
If you want the coupon code to get the $150 on Snapchat and TikTok message Stephanie@yourcontentfactory.com and she will send you the coupon. Now you don’t have to start advertising, just claim your account now, and then we will give you our ads course, and we’ll walk through together in more detail, how to set up those courses.
See my blog on The Mechanics of Facebook Ad Budgeting to get a detailed insight on Facebook Ads and budget.
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