Over the years many clients have said to me, “we need to reach everyone for this product to sell!”
My response is always the same …
When it comes to optimising your advertising for sales/purchases there is one thing that matters! Reaching the most RELEVANT people, not ALL people.
Otherwise the only thing you’re going to get is a giant invoice from Facebook that no where matches the value of the purchases from your ads!
One way we make sure this NEVER happens is to use ‘VALUE BASED AUDIENCES’.
You may have heard of the ‘look-a-like’ audience, where Facebook takes your existing customers data and finds those online who have the same/similar interests and engagements and serves them ads for your business.
The Value Based Audience is the adult version of this!
They allow you to assign a value to your existing customers (perhaps based on total purchases, or frequency of purchase etc) to determines how valuable they are to your business.
From this, Facebook’s Gandalf a.ka. ‘the algorithm’ can find people who are most similar to your top customers based off their purchase history and interests!
Using value based audiences in this way means that you are putting your advertising spend into finding and converting the most RELEVANT people, which is the key to long term business growth and strong ROI!
Interested? Give us a call and let us put it to the test for you!