Mix strategies to sell more during COVID
A new effective way to sell more in your online store by combining Influencer Marketing and Facebook Ads.
I present you a new micro-blogging format very specific and focused on e-Commerce, marketing and sales. The Vendfy™ - e-Commerce Lab is born.
Today I'm going to reveal one of the secrets to sell more and faster in your online store. This strategy works especially well for e-Commerce in the Fashion, Beauty & Cosmetics and Fitness sector (very effective technique if your target are women).
Also mention that this strategy is totally valid to go cheaply and quickly to any international market.
Before we start, everything you are about to read is summarized in the following infographic. Although if you don't mind reading, I guarantee it will be worth it.
TOFU (Top of the Funnel)
When our brand or product is not well known, we need to generate trust and fill our top of the funnel with the maximum number of prospects. How do we achieve this? You simply have to do two things.
- Look for Influencers with between 100K and 250K followers on Instagram, contact them and convince them to work with you. Later in the Vendfy™ Lab we will talk about techniques to get better prices negotiating with Influencers. How do you know which ones to choose? Easy, go to the IG of your competitors (or brands you like and share target) and look for the best collaborations with TOP content. Keep the profiles and hire them. Pim pam.
- While you negotiate with them and agree on the conditions (the ideal would be 1 post + 2 stories with swipe up, without any discount code, just branding + value proposition) start thinking about the Facebook Ads strategy, because we will complement the "organic" reach of the Influencers with paid.
- Prepare the content of the Ads, if you can use content from Influencers better (ask their permission before), and prepare your campaign with Reach objective. You will only need to create a couple of stories, I recommend a 15 second slide + another Ad of two slides, in total 30 seconds and in the second one put the CTA of "Learn More". Of course, EVERYTHING must be videos or animated gifs. You can check your competitors' creatives here: https://www.facebook.com/ads/library/.
- Configure the campaign to your liking. Some tips to select the audience if you have a lot of historical data on Facebook Ads and a large audience on Instagram would be to use a lookalike of 2-6% of your Instagram audience (click here to learn how to create a lookalike) + another lookalike of 1-4% of the event view content. If you don't have a large mass of followers or historical data, you'll have to get to work segmenting your buyer persona and configuring their likes and dislikes.
- Launch your campaign a couple of days before the Influencers' publications and agree with all the profiles to publish one after the other (one per day). Of course, provide them with a Vendfy™ link to find out if, apart from reach, they generate sales. Keep the ads active for a week or two, with a minimum budget of 15€/day.
Important: If you don't have the Facebook pixel installed, do it right now and set up the events correctly.
MOFU (Middle of the Funnel)
At the end this micro-blogging little. Now that people are starting to know you, you have more traffic on the web and more movement in RRSS, the moment of truth arrives. You have to convert interested people into customers. Change your chip, now you are in "buy or die" mode.
This time we are going to hire quite a few Micro Influencers (<100k followers). As they are not as well known as the TOFU ones, you will be able to negotiate better conditions, even as they will have seen that the macro ones carry your products, it will be much easier for you to convince them. Now you're in charge, you're cool.
The objective of the micros will be to show the product and its benefits, test it and review it in stories. We will continue with 2 Stories and a post on Instagram. All content the more organic the better. Remember this phrase: the goal is not to sell, it's to be bought.
As before, we will prepare our Ads terrorists who will take advantage of all the noise and trust of the microphones to convert every last survivor. We will use the Facebook Ads Conversion objective and this time the focus will be on post + catalog ads (if you don't have your Facebook catalog configured, click here). As a personal recommendation, it usually works better if you put the order of the products manually and place the Best Sellers at the top.
Important now not to use the same audience. We will create a new lookalike with the event View Content +2-6% (depending on the traffic you have attracted) and we will also add the people who have seen +50% of your ads in video format. This way we don't leave out any interested parties.
Publish the ads a week after the micros start messing around and make sure their posts are well spread out over time for about 2-3 weeks. This time the budget is more relative, I recommend you to use the automatic rules so that the budget goes up only if the results are good.
BOFU (Bottom of the Funnel)
Now is when your ads will appear in the soup of the most interested people who have not bought (yet). We will do it like in TOFU and MOFU, mixing more Influencers and retargeting ads.
You can really do without Influencers in this step, but if you do, you're going to lose a lot of sales. Now we have two objectives: generate FOMO (fear of missing out a.k.a feeling of scarcity) and flood the market with unboxings.
Look for Venders (that's what we at Vendfy™ call nano influencers) between 3k and 20k who are in love with your product. Chances are they have already contacted you when they see which TOP Influencers are promoting you. Look at the Instagram Direct of your business account because you're sure to have requests. Select them well and offer them a performance payment (commission on sales, if they don't sell, you don't pay) + product of their choice. You can use Vendfy™ to track their sales in real time and they themselves, with their dashboard, can see their sales and improve their content on the go. It's a good time to give them an extra 5% discount code (you really don't need more).
And finally, prepare your retargeting ads. Now we are going to use the multi placements option so that our Ads appear in all the places where interested people browse. Posts with dynamic catalog or Dynamic Ads usually work very well. These ads are targeted exclusively to users who have made an add to cart or add to wishlist but have not purchased in the last 30 days (to exclude them, create an audience with buyers from the last 30 days and exclude it in the campaign).
Don't forget to put an expiration date on the offer or code you promote and show it in the ad. Even if you put a countdown (it works a lot, even if it is a loop).
Although it could be improved, this strategy works great and is worth trying. I hope you found it useful and I'll see you in the next Vendfy™ Lab, where we'll talk about what FOMO is and how to do it effectively.