eCommerce results drop due to high Facebook CPM?! How to fight it in 2021 | Shopify & Dropshipping

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Facebook CPMs skyrocketed recently (Especially in the jewelry space.)

Some people explained it by saying that companies are getting ready for the record-breaking Q4, or for the upcoming US elections.

Regardless of the reason, you need to act if you want to make sure you sustain and scale your brand.

First of all, DO-NOT-FREAK-OUT.

There’s a ton of things you can do in order to optimize your results. Here’s a quick checklist for that:

-Think about raising your prices. This is usually the easiest thing to do, and can be accepted by customers if your brand is not yet established. Be careful with this if you have a loyal recurring customer base.

-Utilize your email lists more. If you are not running a monthly email blast or have your sequences sorted out, such as a card abandonment sequence, etc., go ahead and do this immediately.

-If your product is a wide-appeal product with a solid profit margin, consider running native ads such as Taboola and Outbrain. Remember that these are best to run with an advertorial.

-Work on your creatives constantly. This one is massively overlooked because not many people understand what this actually means. The first thing you need to do is analyze what worked for you in the past and then plan images and video content creation according to your budget limits. You can split this by customer personas, marketing angles, stages in the funnel, placements, and formats, and if you do it right you can diversify your marketing onto channels like TikTok, Snapchat, YouTube, and Hulu. While the first two are good for both retargeting and cold traffic, we’ve noticed that YouTube brings in really high quality cold traffic that you can later use for retargeting. Hulu is yet to be tested, but we’re super excited about it.

-Look at your website loading times. For most projects we start working on, we see a 15% click-to-website-visit dropoff because of loading time speeds. If you reduce that to, say, 5%, you immediately get around a 10% boost in sales.

-Increase your AOV. Think about what you can do in terms of product boundless, pre-purchase, and post-purchase upsells and shipping policies to increase your Average Order Value.

-Think about your retention. What else can you do in order to make customers keep buying your products? There are plenty of options including subscription-based models, newsletters with new releases, and so on. Pick the right approach and implement it. By doing so, you will be able to spend more acquiring a customer, since you know the actual profit you make per customer is higher.

These are just a few ideas for the marketing front end. We haven’t even covered the back end, where you can save on payment gateways and returns, and much more…

Everyone's eCom business is unique and requires different solutions, but remember one thing: If you actually sell a product that people want, there’s almost always a way to make things work.


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⏩ Need help scaling your eCom store /FB ads ? Get your FREE strategy session with one of our experienced growth strategists: https://salesgenomics.co.uk/mike/

⏩ For more eCommerce growth hacks, strategies and discussions, join our Shopify Store Owner Community: https://www.facebook.com/groups/ecommercescaling/

For more information, visit: https://salesgenomics.co.uk