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Yes, using negative keywords in your Google Ads campaigns can be an effective way to improve the performance of your campaigns and avoid wasting ad spend on irrelevant traffic. Negative keywords are words or phrases that you specify to prevent your ads from showing up when someone searches for those terms.
Here are a few reasons why you should use negative keywords:
- Improve relevance: By using negative keywords, you can ensure that your ads are only shown to people who are searching for products or services that you actually offer. This can help to improve the relevance of your ads and increase the chances of a click or conversion.
- Increase Quality Score: Quality Score is a metric that Google uses to determine the relevance and quality of your ads. Using negative keywords can help to improve your Quality Score, which can lead to lower costs and higher ad positions.
- Reduce wasted spend: By using negative keywords, you can prevent your ads from showing up for irrelevant searches, which can help to reduce wasted ad spend.
- Improve ROI: By using negative keywords, you can increase the chances of reaching the right audience and improve your ROI, as your ad spend is more likely to convert into sales.
When creating your negative keyword list, consider words or phrases that are not relevant to your products or services, such as “free” or “cheap” if you offer premium or luxury products. Additionally, it’s important to regularly review your negative keyword list and add or remove keywords as needed, based on your campaign performance.
For the last year, we’ve been using mainly broad targeting and the results have always been better than using interest or LAL targeting. Facebook has a lot of data and if you just optimize for the correct actions and ensure you have a good ad account setup, the algorithm will basically do the job for you, i.e. find people who are most likely to convert. Just choose a country you want to advertise in and don’t use any age, gender, or placement restrictions. Facebook knows who is most likely to convert, you just have to set up everything correctly and tell FB what your primary goal is (conversions) so it can properly optimize and get you the best possible results.
LTV, or lifetime value, in Facebook ads, refers to the total revenue that a customer generates for a business over their entire relationship with that business. In the context of Facebook ads, LTV can be used to measure the effectiveness of a Facebook ad campaign by looking at the revenue generated by customers acquired through the campaign.
By understanding the LTV of customers acquired through Facebook ads, businesses can make informed decisions about how much to spend on Facebook ads, and how to optimize their ad campaigns for maximum ROI. For example, if a business knows that the average LTV of a customer acquired through Facebook ads is $100, it can make decisions about how much to spend on ad targeting, ad format, and ad placement, based on the expected return on investment.
There are several strategies you can use to increase traffic to your new Shopify store:
- Optimize your website for search engines: Make sure your website is optimized for search engines by including keywords in your product titles and descriptions, creating a sitemap, and submitting your website to search engines. This can help to increase your visibility and drive more organic traffic to your store.
- Use social media: Create a presence on social media platforms, such as Facebook, Instagram, and Twitter, and use them to promote your products and share content.
- Leverage Influencer marketing: Find influencers in your niche and collaborate with them to create content and promote your products. This can help you to reach a new audience and increase the visibility of your brand.
- Run paid advertising: Run paid advertising campaigns on platforms such as Google, Facebook, and Instagram to drive targeted traffic to your store.
- Use email marketing: Create an email marketing campaign to reach out to potential customers and keep them updated on new products, sales, and other promotions.
- Optimize your website for conversions: Make sure your website is user-friendly, easy to navigate, and optimized for conversions. This can help to increase the chances of visitors making a purchase.
- Leverage on SEO: Make sure you are using SEO techniques such as meta tags, title tags, and image tags to make your website visible to search engines.
- Provide valuable content: Create a blog and provide valuable content that is relevant to your audience. This can help to attract visitors to your website and increase the chances of them making a purchase.
It’s important to keep in mind that increasing traffic to your store takes time and patience. It’s also important to monitor your website’s analytics and track your progress to make sure you are on the right track.
CPM (cost per thousand impressions) is a metric that measures the cost of an advertising campaign for every thousand ad impressions. A CPM varies depending on the industry, ad format, and targeting.
A general rule of thumb is that a lower CPM is considered better than a higher CPM. A CPM of $5 or less is considered to be a good CPM. However, it’s important to note that a low CPM doesn’t necessarily mean that a campaign is performing well, it’s important to take into account other metrics such as click-through rate (CTR) and conversion rate to get a full picture of the performance of an ad campaign.
For example, if you are in a very competitive industry with high ad costs, a CPM of $10 or $15 may be considered good. On the other hand, if you are in a less competitive industry, a CPM of $5 or less may be more appropriate.
Ultimately, a good CPM is one that is in line with your campaign goals and budget. It’s important to note that CPM can fluctuate depending on many factors, such as targeting, ad format, and placement. It’s essential to monitor your campaign’s performance and optimize it accordingly to achieve better results.
Customer lifetime value (CLV) is an important metric for businesses because it measures the total amount of revenue that a customer will generate for a business over their entire relationship with that business. There are several reasons why CLV is important:
- Helps to inform marketing and sales strategies: Knowing the CLV of a customer can help businesses to understand how much they can afford to spend to acquire new customers, and how much they should invest in retaining existing customers.
- Indicates customer loyalty: CLV can indicate how loyal a customer is to a business, which can help businesses to identify and target the most valuable customers.
- Helps to predict future revenue: CLV can help businesses to predict future revenue by providing an estimate of how much revenue a customer will generate over their lifetime.
- Helps to prioritize customer retention: CLV can help businesses to prioritize customer retention efforts, as retaining high CLV customers can have a significant impact on overall revenue.
- Helps to identify opportunities for upselling or cross-selling: Knowing the CLV of a customer can help businesses to identify opportunities for upselling or cross-selling, as higher CLV customers may be more likely to purchase additional products or services.
Overall, CLV is important because it helps businesses to understand the value of their customers, which can inform marketing and sales strategies, and guide decisions about how to prioritize customer retention, acquisition and other customer-related activities. This helps businesses to optimize their resources and increase revenue in the long run.
There are a number of reasons why your Facebook CPM (cost per thousand impressions) may be high:
- Limited audience: If your targeting options are too narrow, you may be reaching a limited audience, which can lead to higher CPMs. Try expanding your targeting options to reach a larger audience.
- Competition: If your industry is competitive, it can lead to higher CPMs. This is because businesses in competitive industries are willing to pay more to reach potential customers.
- Ad quality: The quality of your ad can also affect your CPM. If your ad is not engaging or relevant, it may not perform as well.
- Ad placements: The placements where your ads appear can also affect your CPM. For example, ads that appear in the Facebook news feed tend to have a lower CPM than ads that appear in the right-hand column or in the Stories feature.
- Ad format: The format of your ad can also affect your CPM. For example, video ads tend to have a higher CPM than image ads.
- Bid strategy: Your bid strategy can also affect your CPM. If you are using a manual bid strategy, you may be bidding too high or too low.
- Ad frequency: Running your ad too often can lead to ad fatigue and higher CPMs.
To lower your CPM, you can try experimenting with different targeting options, ad formats, placements, and bid strategies. Additionally, it’s important to ensure that your ads are high-quality, relevant and engaging to increase the chances of your ad being clicked and ultimately lower your CPM.
$100 is a relatively small budget for running Facebook ads, and it can limit the scale and reach of your campaign. However, it’s still possible to run a successful ad campaign with a $100 budget.
Our advice is to focus on the right optimization. We have the best results when optimizing for purchases and broad targeting. You need to tell the algorithm what you want from your ads, so if you optimize for purchases you get purchases, and optimizing for the traffic you’ll get traffic. The leads that you’ll get with traffic optimization won’t become your customers.
Setting up Google Analytics on a Shopify store is a simple process that can be completed in a few steps:
- Create a Google Analytics account: If you don’t already have one, you’ll need to create a Google Analytics account. Go to the Google Analytics website and sign up for a free account.
- Get your tracking code: Once you’ve created your account, you’ll be given a tracking code. This code is unique to your website and it’s what links your Shopify store to your Google Analytics account.
- Add the tracking code to your Shopify store: To add the tracking code to your Shopify store, you’ll need to go to the Shopify admin panel. Click on the “Online Store” button and then on “Preferences.” Scroll down to the “Google Analytics” section and paste the tracking code into the box provided.
- Verify your tracking code: You can verify that your tracking code is working correctly by going to the Google Analytics website and checking the “Real-time” section. If the code is working correctly, you should see data coming through from your Shopify store.
- Set up goals: Once you have your tracking code set up, you’ll be able to set up goals.