October 17, 2018

FACEBOOK

How to achieve hyper-relevance with geo-micro-targeting in Facebook Ads

You have a booth at a convention, which you really wanna promote. So, you go to Facebook Ads and want to create a Targeted Audience with the Geographic section. But the smallest radius is 1 mile… that’s kinda big even for a big convention.

What use is it for you to show your ad 5 blocks away from the convention?

You want to target people already in the building, or the ones outside of it thinking of entering. Trey Edwards found a way to do this, and although it takes some time getting used to, the results are worth it. Basically, you need to get your geographic audience far under the one-mile radius.

Here’s what Trey Edwards does – first, he puts a pin with a 1-mile radius into the center of the building. Now it gets a little bit tedious. He puts multiple 1-mile pins around this radius so that they touch the building’s outer walls. And he excludes their location!

With this, he achieved the one and only goal he ever had – microtargeting the convention building. But how does one know if it really works? Trey made sure of that too!

You simply make a photo/video ad where you say “If you mention this ad at the booth, you get a goodie.” And boom, if they mention it, you know it works and you’ve won.

It also helps you greatly in creating a high relevance Custom Audience. And with a high relevance CA, getting a precise Lookalike Audience is very easy. If even this point doesn’t convince you, what can?

Have you already used this technique? Tell us your experiences and how it worked for you, we’re thrilled to hear from you.

Facebook giving exposure to Marketing Consultants

This is one of those announcing an announcement things but we wanted to keep you as up to date as we can.

If you go here, you will see Facebook has a “Coming Soon!” page for marketing consultants they approve of.

We’ve mentioned it before in our newsletter last Thursday. Now the page is up and ready to be populated by names…

So people that we’ve featured regularly like Tim Burd and Depesh Mandalia could be listed there, we guess. They both focus on Facebook Ads and have built a very good reputation.

It’s a category for “individual marketing professionals beyond agencies”.

So it could also be a way for people who need to learn about media buying and Facebook Ads to find a more legitimate source rather than dime-a-dozen gurus…


E-COMMERCE

“The riches are in the niches”

We had a look over the Interwebz to see which are the niches that are big, still growing, and likely to be around for a long time so you can build a real business with your store. Let’s get into it!

Unsurprisingly, the clothing/apparel category is very dominant. Especially things such as maternity fashion, a big industry with the perk that you can expand towards other baby or information products such as advice books or workout videos.

Similarly, “athleisure” or casual activewear seems to be doing great. Over the past few years, activewear sales increased the most out of all apparel categories, being the sole reason total apparel sales went up in numbers. It is predicted to grow to $83 billion by 2020.

In the same vein, there’s shapewear, expected to hit $5.6 billion in sales by 2020. These undergarments that discreetly help you create body shapes considered more desirable have seen an increase in popularity.

Good thing you can add them to any store, whether it’s lingerie or general apparel.

Moving away from apparel and towards technology, a hidden gold mine might be phone accessories. The industry is expected to hit $107.3 billion by 2020. Earphones, chargers, phone cases and similar things leave lots of room for you to start a business.

An old standard niche still going strong is watches. Annually, around 1.2 billion wrist watches are sold all over the world, peaking around Christmas.

Lastly here, worth $151 billion is the backpack/bag niche. Whether you’re selling hiking backpacks for nature loving people, fancy evening purses or children’s backpacks (which sell the most in back-to-school season), the possibilities are endless.

And if you’re looking for traffic, there’s some good news next…

Pinterest is implementing features to boost sales

Pinterest is rolling out new features that will make it easier for people to purchase products on its platform.

The three new features include direct links to the retailer’s website plus up-to-date pricing and stock information on all product pins. Under each fashion or home decor pin, you can also find “Products like this” – products the algorithm thinks have a similar style.

Tests of the new features that started in the previous quarter show that clicks on products to retail sites increased by 40 percent.

Pinterest has 250 million monthly active users, but with rumours about an IPO in 2019 Pinterest has no option but stepping up their e-commerce features since their earnings aren’t strong enough. And, of course, competition like Facebook and Instagram isn’t sleeping either.


GENERAL

YouTube counts engagement at 10s instead of 30s

YouTube announced it is changing the attribution criteria for TrueView for action video ads.

An Engagement will count if a user clicks or watches 10+ seconds (instead of 30+ seconds) of a TrueView for action ad.

Conversion will be counted when a user takes action on an ad within 3 days (instead of 30 days) of an Engagement.

According to YouTube the changes should reflect the relationship between video ad exposure and conversions better.

While it’s still not Facebook, where you have to scroll fast to not “engage” with a video since watching 3 seconds counts as engagement, going down from 30 seconds to 10 seconds will clearly polish YouTube’s engagement numbers.

Not that we’ve heard of an advertiser relying too much just on “video views” without more data points…

But what does it mean for the advertisers besides “better” engagement results?

The shorter engagement-to-conversion window will mean faster ramp-up times for target CPA campaigns and more current reporting, says Google.


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Lyft, “the other Uber”, has a subscription plan

Perhaps it’s a bit mean to call Lyft “the other Uber”… But since Lyft is available only in the US and a few cities in Canada, we gotta give the “ride-sharing crown” to Uber.

So yeah, Lyft is Uber’s biggest threat in the US, aside from policymakers.

And while Uber focuses on financial incentives to drive supply and demand for users, Lyft seems to go another way.

That’s why they are launching a monthly subscription plan – $299 all access for 30 rides worth up to $15 each.

If you have a longer ride, you only pay the difference. Plus, for all rides over 30, you get a 5% discount.

Sounds like a pretty good deal if you regularly use Lyft or alternatives. Their CEO, Logan Green, said their vision is to become “the Netflix of ridesharing”. So is “Lyft and chill” gonna be a thing too? 

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