Posts tagged build
One of the most efficient types of targeting in Facebook (second to retargeting, of course) is lookalike audience targeting.
Lookalike targeting is basically a targeting type that allows you to use first party data (e.g. customer lists, remarketing lists, etc.) as a seed audience to find new users with very similar characteristics, behaviors, and traits.
It’s applicable for all business models (B2B, B2C, EDU, etc.), but in this post, we’ll lock in on best practices for ecommerce.
When using lookalike targeting, the audience you select as your seed audience is extremely important. Essentially, you want to make sure you are developing audience lists from your best-performing audience.
For example, if you had an option to choose between people who signed up for a free trial of your product or people who actually purchased your product, you should start off with the audience that has actually purchased the product; these are the users driving revenue to your business, and you need to find more users like those.
Okay so now that we know we want to target our customers, are we ready to get started and build lookalike audiences? Nope! Hang tight, especially if you have a large customer base.
Step 1: Create smart segments
If you’ve got a ton of user data to pull from, use it to segment your base into groups with definable characteristics. This helps you tailor creative, messaging, and bidding with far more precision.
When it comes to ecommerce, there are three fundamentals ways you should look to segment your users:
- Average Order Value (AOV): Say you sell a variety of different products, from high-end/expensive items to affordable accessories. Segmenting out your 1st-party data by AOV allows you to better understand the audiences who can afford to go after your more expensive product vs. those who are looking for a bargain.
- Product Category: If you sell multiple different types of products, you’ll want to split out your customers by the product categories they have purchased (e.g. women’s handbags, women’s apparel, etc.). This allows us to better tailor content when running our ads.
- Lifetime Value (LTV): Segmenting audiences by LTV helps you create audiences of users who will most likely be repeat purchasers/loyal customers vs. those who will tend to just buy a few items for their more immediate Separating the two groups will allow you to bid accordingly as you see performance kick in.
Step 2: Build your lookalikes
So now it’s time to build out your lookalike audiences, which range from 1% – 10%. What this means is that the 1% are audiences closest in similarities, traits, and behaviors as your seed audience, and it contains only those users, which restricts scale. The 10% audience is the least similar – but it’s also the biggest pool.
The way you’ll want to set up your campaign is by building ad sets for each segment. So let’s say you chose to segment your first party data by AOV; your setup would look like this:
- Ad set 1: LAL 1% of AOV>300
- Ad set 2: LAL 1% of 300>AOV>100
- Ad set 3: LAL 1% of 100>AOV
Step 3: Customize the experience for each segment
So here is why segmenting out your audiences can be so strong – now we can truly tailor the creative messaging and user experience for each audience.
For example, for the high-AOV audience, we would want to show creative with more expensive products and customize messaging to promote high quality, etc. We would then want to send users to a landing page geared around these more expensive product types.
For the low-AOV audience, we would want creative showcasing more affordable products and would tailor messaging around discounts and deals.
Again, we want to ensure we aren’t sending these users to landing pages with expensive products, as they will bounce. So we choose the landing page destinations accordingly.
Lookalike targeting is a great way to make the most of Facebook’s thousands of data points on its users and get in front of the right core audience.
However, to truly make it successful for ecommerce, it’s critical to craft the right strategy, segment out your first party data smartly, and tailor your messaging, creative, and user experience accordingly.
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The sales process is all about nurturing long-term relationships and building trust, and luckily there are some great tools to help!
There is no magic spell for better sales, no matter how much we wish there were. Likewise there is no special set of words, prospect investigation device, or rated handshake that is going to get someone to buy your products.
Good old connections are pretty much all you have to go on. That includes relationship building, which is one of the most important factors in gaining long-term customers who will come to you again and again.
Here are seven tools that can help you build those relationships and increase your sales.
Salesmate creates and organizes a solid ground for your relationship by collecting all kinds of interactions you have had with your lead. Additionally, it saves you time entering the data by automatically generating and cross-referencing details and interaction history between lists and databases.
It’s also one of the most affordable sales management tools available, so give it a try!
Get information on your contacts right in your Gmail through Rapportive. They connect through contact information to LinkedIn profiles, and show the latest info on each prospect. You will get a picture, work information, former work information, and more. All right there in your Gmail account.
It is a super easy way to customize your communications, by drawing out any relevant information that you may want to include in your message. You would be surprised by what a difference those personal touches make.
3. Charlie App
Want even more info? Charlie App is an amazing tool that will do all the contact research on your prospects for you, and then create a report for you to use. I love using this one before meetings, where there are multiple people involved in the process.
You can get your report, be prepared when you walk in, and impress them with your extensive knowledge on who they are, what they do, and even their latest social media posts. It is a great way to personalize meetings, and be on the right foot the moment you enter the door.
Convert people right from your website using Intercom‘s live chat feature. Communicate in the long term with those customers to keep them happy. Give awesome customer service from the same platform.
The entire point of this tool is to make your customers feel valued and individually catered to. No automated CRM’s, no bots, just one on one communication between your team and the people who make your business grow.
Wouldn’t it be nice if you could let your prospects pick the best time to meet, while still meeting your busy schedule? Calendly is just that magical tool. It lets you set your availability, then link anyone. They can pick a time that works best for them, and set a meeting when you are able to have one.
Then it automatically adds that meeting to your calendar so you never have a scheduling faux pas. Your whole team can use this tool and better manage their meetings and appointments, whether they are in person, on the phone, or online.
6. Click Meeting
Click Meeting lets you set up sales meeting and demo calls easily. It integrates with numerous apps including Youtube, Google Calendar and more. You can get analytics and other important data on your meetings. They also offer free mobile apps which is so important these days.
While it might cost a bit, it is worth it if you are serious about offering audio and video conference calls. You don’t want to blow a sale because you were trying to connect over Skype and kept dropping the call.
One of the most annoying things about Gmail is that they still don’t have a feature that allows you to schedule emails to be sent at a later date. If you want to do that, you have to have another tool. Luckily Boomerang is there.
It is a Chrome extension that lets you schedule those messages, as well as ‘postpone’ messages until a later time that you aren’t ready to have in your inbox. So that message you got after hours that you know will drive you crazy if it is sitting in your inbox, taunting you? Hide it with a click!
Do you have any tools to add? Anything that helps build relationships for sales teams? Let us know in the comments!
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With the coming tidal wave of data generated by the Internet of Things (IoT), a lot of organizations will find themselves connecting pools of data that never needed to be brought together before.
These data silos wind up becoming these stand-alone “containers,” hidden within one department and isolated from the rest of the organization.
Today, most data silos exist separately without sharing, cross-referencing, interpreting or adding to each other’s self-contained data sets. With data silos come the challenge of only being able to analyze each application individually without getting the whole picture of the business situation.
Capgemini Consulting reports silos to be standing in the way of efficient big data usage because of how it complicates business analytics. The question is, what needs to happen to transition from data silos to systems?
“IoT is shifting from a single purpose application connected to the Internet, to multiple applications working together in concert – connected and integrated in the cloud,” says Christian Renaud, research director at 451 Research.
During the IoT Global Council July session, which focused on IoT platforms, Renaud presented market research indicating how IoT is moving from silos to systems.
He used smart cities as an example. “Imagine if a smart street light were connected to public safety,” he said. “[Today] only 41 percent of our enterprise customers say they have IoT technology in-use.”
Dismantling silos will be a bigger theme in the future
Looking forward to the future, this relatively low number indicates a large enterprise potential in the use of IoT technology to fully move from silos to systems.
One step in transitioning from silos to systems is by gathering data together in a dashboard customized for your specific business. By bringing your data out of its silo and into one mutual platform, information will flow freely between departments, applications and systems resulting in aligning business goals and teams to make better decisions.
This is likely to lead to more efficient communication, which can affect total returns to shareholders by approximately 47 percent. And when systems are able to make sense of all data collected in your business, machine-learning models can identify patterns which can be used to make predications.
When these systems are able to predict with better efficiency, that’s when IoT will give true meaning.
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