As mentioned by Nicholas Franchet, Head of Global Ecommerce for Facebook, during his presentation at eTail East, there is an opportunity for the Ecommerce industry to make $1.2 trillion in 2013. In order for each individual eTailer to harness a share of this thriving market, it is imperative that they try to find the consumers who are right for their brand. An easy way to do this is, of course, is through Facebook.
Franchet suggests keeping the following three ideas in mind when deciding to use Facebook to increase market share:
1. Discovery: Facebook is constantly developing new tools to help brands, and the company’s online stores target the audience that best suits the stores’ product. The company has tools like the standard audience tool, which uses Facebook’s data to position products, as well as the modeled audience tool, which uses a brands own data to position its products. As opposed to other marketing outlets, such as TV or radio ads, the accuracy of this kind targeting is remarkably high.
2. Seasonality (Timing): Use Facebook as a tool to position products during certain times of the year, such as certain holidays, which further enhances the accuracy of a brands targeted ads.
3. Compression: With Facebook ads, brands have to be very specific about what content they want presented in the ad. Thus, they must compress the information they want to share into the most relevant combination of words in order to further target their ad.
For Franchet, a well-targeted message on Facebook, whether it is through sidebar ads or news feed ads, is a value-added message. Following the above tips should lead to an increased value in your message, which leads to a higher ROI.