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Top 3 ways to increase ROI in Google Ads
Running an e-commerce business today isn’t what it used to be. The general trend for Swedish retailers is that the profit margin on average is as low as three percent. The fast-growing e-commerce segment makes it even harder to keep the margins up. That’s why it’s becoming really important to focus on ROI by improving the digital marketing strategy of e-businesses. Here we present you with three top strategies you can use.
1 Business Intelligence
The BIG change today is that 60% of all clicks for US e-commerce are derived from Google shopping. Many customers have seen even bigger challenges. The challenge comes in working on your product feed and how you use your data. Based on brand/category/product, find your top and bottom 20% and understand what customer behavior you see in each segment and why. Product titles are key here. Structure them based on brand, category, and attributes, and use different structures for different product titles.
You also need to evaluate pricing, ROAS, margins, and ROI on a continuous basis and take data-driven decision to drive your targets. When setting your ROAS target, you should include logistic, warehouse, sales and return costs. If you have a buying frequency of 0.5+ per month, also make sure to evaluate the lifetime value setting. You need to look at how your price affects the outcome of your advertising, how you are pricing compared to the competition and how that affects ROAS. You also need to change your ROAS targets based on your product margins. You need to make a data-driven decision for each product/brand/category level depending on your pricing strategy.
Read more about pricing strategies here: Pricing strategies for e-commerce and retail companies.
2 Buyer Personas
Since it’s more important than ever to know your buyers, you must invest in target and personalized advertising campaigns based on data at scale. Typical for e-commerce companies are geographic location, age, gender, device and day of the week.
You then see how those factors relate to ROI, and steer your budget to where your ROI is the highest. This is best perceived in a data-driven way, as it will provide you with great insights for future actions.
3 Social Proof
Social proof has shifted. Let’s look at a practical example of a restaurant. In the age before world wide web, it could be hard to find a good restaurant. You would look for places that were busy, and look to see if the customers looked satisfied. Back then you built a business solidly over many years, and it was commonly based on word of mouth.
Offline it was a bit more subtle, but online we need to be a little more obvious. Social proof today is fast-paced. Social proof indicates that many people have bought something, or that they've gotten good reviews. Today people do their research and look for validation.
Good reviews = Proof of success
By using product ratings, you can stand out in the crowd, increase click-through rates and attract high-quality traffic to your website.
Another way is through rich snippet stars, which means that you collect reviews and then display them through an ad snippet code. It’s a quick and effective way to increase traffic to your page.
In this example with LensDirect.com, they increased the traffic to their website by the use of rich snippet stars. By leveraging reviews socially and on paid acquisition channels, they were able to measure performance against their companies KPI's which include social engagement, the click-through rate on search results, and conversions.
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Top eCommerce Predictions and Trends for 2023
The eCommerce industry is constantly evolving, especially with the advancement in tech in recent years and it can be challenging to keep up with the latest trends and technologies. In this article, we'll be forecasting some of the most exciting eCommerce trends for 2023. Knowing about these trends will help you can stay ahead of the curve and understand what the future holds for online shopping. From continued growth of mobile eCommerce to the rise of social media eCommerce, these are the trends and technologies that are expected to shape the eCommerce landscape in the coming years. Keep reading to learn more!
Google Analytics 4, Privacy and Black Week
Want to move a step ahead in getting closer to your customers? Get hold of Google Analytics 4, a gem for all businesses.
The e-commerce universe is now prepping up for the year’s extravagant fancy sale i.e., Black Week! This is where your privacy game will come into play while customers would be busy browsing lakhs of websites during this shopping spree.
Let us learn more about Google Analytics 4 and Privacy in this blog to accelerate your revenue safely.
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Take Your TikTok Ads to the Next Level
To look into the future, let us peep into the past once. TikTok earlier was loaded with content focused on dancing and lip-syncing videos inclined more towards an uprising for polished platforms and enabling easy access and non-positionality of content consisting of short videos largely.
Top eCommerce Predictions and Trends for 2023
The eCommerce industry is constantly evolving, especially with the advancement in tech in recent years and it can be challenging to keep up with the latest trends and technologies. In this article, we'll be forecasting some of the most exciting eCommerce trends for 2023. Knowing about these trends will help you can stay ahead of the curve and understand what the future holds for online shopping. From continued growth of mobile eCommerce to the rise of social media eCommerce, these are the trends and technologies that are expected to shape the eCommerce landscape in the coming years. Keep reading to learn more!
All About TikTok SEO 2023
INTRODUCTION
We are in the middle of an ongoing search evolution that is gradually happening! TikTok is arguably becoming a search engine, which has been recently acknowledged by Google too.
Why You Should Get Started with TikTok Ads Today?
Amazon and HBO have spent huge money on TikTok advertisements in the U.S. during the months of January and May 2022, says Statista!
And why not? TikTok reached the “1 billion” count on its daily active users in 2022! Hence, advertising on TikTok is just inescapable!
TikTok Ads are booming because their widely diversified audience has helped brands gain high profits with natural virality.
Create Successful Holiday Ads on Facebook & Instagram
Did you know? According to AdMaven, holiday retail sales have reached a whopping $789.4 billion in the year 2021!
It's the holiday season! Everyone right now is on a shopping spree and this is the time, businesses have to be on their toes. If you are not playing with your Facebook and Instagram right now, you are at a big loss in this game of Holiday Ads!
Let us begin by jumping into some holiday insights for the year 2022. Interestingly, shopkeepers have been receptive to trying out new brands across various niches this time round.
Peak Season 2022
How to Solve Privacy for Marketers & eCommerce?
The privacy-first approach is now the eligibility for a business to sustain itself in the current cutthroat competition. It is believably impractical to process a transaction without publicizing your personal information!
So, let us look for a solution and learn how to solve privacy for marketers & eCommerce in this blog.
Google Analytics 4, Privacy and Black Week
Want to move a step ahead in getting closer to your customers? Get hold of Google Analytics 4, a gem for all businesses.
The e-commerce universe is now prepping up for the year’s extravagant fancy sale i.e., Black Week! This is where your privacy game will come into play while customers would be busy browsing lakhs of websites during this shopping spree.
Let us learn more about Google Analytics 4 and Privacy in this blog to accelerate your revenue safely.
Latest Instagram Updates! [July 2022]
We’re thrilled to learn about the new features being rolled out by Instagram and we think they’re going to be a game changer for marketers and creators. These much-awaited updates were finally announced on 21 July by Adam Mosseri, the head of Instagram, on various social media platforms. Keep reading to know all about the updates.
Instagram Influencer Marketplace: The Next Big IG Update for Brands
87% of its users say influencers have inspired them to make a purchase, and 70% of shopping enthusiasts visit Instagram to discover their next purchase. Brands report Instagram influencer marketing ROI is over 5X: $5.20 for every $1 spent on influencer marketing on Instagram. That’s why Instagram has finally decided to launch an Influencer Marketplace and it’s going to be amazing for you - whether you’re a brand or an influencer. Stick with us to know what you can expect from the all-new Influencer Marketplace.
TikTok Statistics – June 2022
Spoiler Alert: this will be a text and data-heavy blog post!
TikTok is available in over 150 countries, has over 1 billion users, and has been downloaded over 9 million times in the Nordics alone. If your brand’s target audience includes anyone between the ages of 13 and 60, you should be on TikTok right now.