This year, the total value of global retail eCommerce is expected to reach $3.45 trillion– and most online retailers are reaching these sales heights with Facebook Ads.
Facebook, a platform with 2.41 billion monthly active users, recently reported that they had 6 million advertisers on its platform in Q4 2019.
If you’re not advertising on Facebook, you’re missing a great opportunity to create brand awareness and boost your sales. Last year, I wrote a blog post with 15 essential Facebook Ads strategies for eCommerce. Since the world’s largest social media platform is continually changing, I’ve decided to update this essential information with the 3 fundamental strategies for eCommerce you need to know to start taking advantage of this money-making machine.
1. Install Conversion Tracking Pixel
Installing a conversion tracking pixel on your website is the very first thing you should do when you start advertising on Facebook.
The Facebook pixel is a piece of code that you copy from Facebook and paste on your website. It tracks the behavior of visitors to your website: product page visits, add to cart, purchases, and more. This data allows you to optimize your campaigns, build better audiences, and retarget people that have interacted with your brand.
To create your Facebook pixel, follow these steps:
- Login in to your Business Manager account
- Go to your Pixels tab in Events Manager
- Click “Create a Pixel”
- Click “Create” in the box that appears to finish creating your pixel
Next, add Pixel to your site:
- Go to your website’s code and find the header of your website
- Copy the entire code that you created on Business Facebook and paste it in the header of your website. Paste the code at the bottom of the header section, just above the closing head tag.
- Click “Send Test Traffic” after placing the code on your website to make sure Pixel working properly. If your status says “Active”, your base code has been installed correctly. This can take several minutes to update.
You can also send the instructions to your developer, or if you’re using a partner integration like Google Tag Manager, you can connect your account in Business Manager and follow the onscreen instructions to connect your Pixel to your website.
Related: 5 Reasons Why We Love The Facebook Pixel (And You Should, Too!)
2. Use Dynamic Ads
This is the highest ROI strategy to use on Facebook Ads for eCommerce.
Instead of individually creating ads for each product, dynamic ads allow you to create an ad template that will use the information you upload to a product catalog with your product’s images and details.
Your campaign will use the information tracked in your Facebook Pixel to show ads to people who have already expressed an interest in your business or a specific product.
The best part? Even though you have a vast catalog of products, the ads will be personalized and relevant to your audience.
Dynamic ads can not only be used to retarget people who have taken actions on your website, but you can also target broad audiences to reach people who haven’t heard from you yet. Facebook calls this “product recommendations.” These recommendations can include products already viewed by a person on your website, popular products on your catalog, and products that similar people to your audience interacted with.
To set up your dynamic ads, follow these steps:
Step 1: Set up your Facebook Pixel and Conversion Events
- After installing your Facebook pixel, you need to set up your conversions events, which are specific actions visitors take on your site. You must select the conversion events that best apply to you, for example:
- Add ViewContent events to all product pages.
- Add AddToCart events to either your shopping cart pages and/or buttons that allow people to add items to carts.
- Add Purchase events to purchase or confirmation pages.
- Then, select either product IDs or product group IDs on your events to match individual products viewed on a website separately, such as showing an ad for a product that comes in multiple colors in one specific color choice.
- Associate your Facebook Pixel or events to your catalog to show products based on customer behavior.
Step 2: Build your catalog
- In your Business Manager account, go to Catalog Manager to create your catalog, which is the inventory of products that you want to advertise on Facebook. Keep in mind that you need to keep your catalog up to date and make sure every product has a unique identifier.
Step 3: Create products sets from your catalog
- From your inventory, you need to create a group of items that will allow you to control your bids and the items that appear in your ads. The product sets can be organized by product category, price range, markdown, or promotional price or theme.
Now that you’re ready with your dynamic ads, you can use multi-product ads, like carousels, to reach your audience with multiple products in a single ad.
Related: Getting The Most From Facebook Dynamic Ads
3. Run Retargeting Campaigns
Did you know that on average 72% of online shoppers abandon their carts without buying a product? And only 8% of them will come back. Shocking, right?
For these reasons, one of the most essential strategies for eCommerce on Facebook ads is to run retargeting campaigns. This strategy will help you to show your products to website visitors that view a product or added to cart but didn’t complete a purchase, and also helps you to cross-sell and upsell additional products.
To create retargeting campaigns, yes, you guessed it, you’ll also need your Facebook Pixel. Thanks to the data it collects, you can create custom audiences with segments of people who already have a relationship or interacted with your business: website visitors, video views, consumers who engaged with your Facebook page or Instagram business profile, and much more.
To build these audiences, follow these steps:
- Go to Audiences on Business Manager
- Select Create Audience and then Custom Audience
- Select the source of your audience
- Follow the instructions based on the source
To maximize the return of your retargeting campaigns, offer coupons and discounts. This way, you’ll entice your visitors to come back to your website and finish their purchases.
Related: Getting Smart With Targeting On Facebook Ads, For Beginners
These three strategies are fundamental to making the most of your eCommerce presence. Using them will increase the probability of visitors completing sales and taking more advantage of your ads, improving your ROI.
We hope you find these strategies helpful! Want a team of Facebook ads experts to take it from here? Drop us a line. We’d love to take the hard work off your hands, and help your eCommerce get on the right track!