The Rise of Top-of-funnel Advertising in Ecommerce for 2023

30-second synopsis: 

TikTok is an alternative advertising channel that is expanding and has good returns, but expenses are anticipated to go up as demand grows. To maximize their ad expenditure, brands should concentrate on optimization tactics.

For ecommerce firms wanting to increase sales through advertising, Meta is anticipated to be a popular option.

In 2023, Google’s Performance Max platform might come under further scrutiny.

Instead of reducing their marketing budgets, high-performing firms will differentiate themselves by investing in top-of-funnel advertising methods.

It’s critical for firms to keep up with the most recent trends and technologies as the ecommerce sector develops.

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Since the iOS14 update, Facebook ad costs have gone up significantly.

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1)Target Broad Audiences.  The broader the audience targeting, the bigger the audience, which leads to lower competition and therefore lower CPMs.

2)Target All Placements.  In-feed placements are typically more expensive.  You can potentially bring down your average CPM considerably by targeting all placements.

3)Implement CAPI Integration.  Send detailed data about customer interactions and conversions back to Facebook.  This will allow you to:

a)Optimize your campaigns to avoid wasting budget on ads that don’t convert.

b)Identify audience segments that are converting well, and customize your ads to them to increase conversion rate.

c)Create ads that are personalized for each person based on their behavior, eg. by retargeting them with ads of products they’ve viewed.

4)Use Lookalike Audiences to Find New Customers.  This can help you scale while keeping CPMs reasonable.

5)Use Video Ads.  These tend to have higher engagement rates than other ad formats, which can lead to lower CPMs and better performance.

6)Use Agency Ad Accounts.  Using high quality, premium agency ad accounts from trusted partners can give you access to better CPMs and CPAs.  But beware – not all agency accounts are the same.  Start a conversation with Scalix to find out why they’re the best agency ad accounts provider.

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