There is no doubt that Facebook Ads have changed the game for ecommerce marketing. The detailed targeting capabilities Facebook offers, variety of ad types available, and sheer quantity of people on the platform make it an excellent source to discover and scale winning products.
However, relying only on Facebook ads is risky. When you put all your eggs in one basket, you allow Facebook to decide the fate of your business. Once you build up some cash and master Facebook Ads, it makes sense to reinvest in additional customer acquisition channels.
We see clients spend fortunes on Facebook ads. Many make a killing but we still like to see our partners diversify their marketing strategies. Diversification lowers the risk for both our business and your business. That means more sustainable growth and higher profits!
Here are three ways you diversify your ecommerce ad spend.
Three Marketing Methods that Help Diversify from Facebook Ads
1. Local radio ads
Local radio has relatively low cost to reach 1000 people (~$5 CPM). If your product or service has a broad interest, give it a shot.
Here are some ideas to get started:
- Find local markets and radio stations that could be a good fit for your product or service. Here is a list of radio stations across the USA categorized and organized by state. There may also be opportunity in emerging markets such as South America – don’t limit yourself!
- Start small and focused. Try promoting one product or deal that will attract attention. This will make it easier to measure the effectiveness of the ad.
- Find freelancer(s) on Upwork to develop your ad copy and voiceovers.
2. Sell on Amazon
You may be thinking, “I’m a marketer. Why would I sell on platform where they take all of your profit margin and competition is brutal?” Well, the quick answer is that Amazon provides traffic to your products just like you are doing with Facebook ads.
The main difference is that you pay Amazon for this traffic in the form of commission instead of upfront Ad spend (however, Amazon does offer PPC). Competition is high, but the market is growing.
You have vendor relationships for your products and you know which products sell. You could diversify your ecommerce business by buying inventory for your top selling products and send them to Amazon FBA. Margins may not be as high as selling through your own site and you do take some inventory risk – but you have already done 70% of the work.
Opening up an Amazon sales channel can offer a great bang for your buck to diversify your customer acquisition channel. All it takes is a little work, research, and creativity.
Side note: Dropshipping is strongly discouraged on Amazon as your seller account will probably get shut down quickly. Amazon customers expect consistently fast delivery. Amazon is also expanding to new countries where there are fresh opportunities (such as Amazon Australia). On the macro-economic level, we believe they’re ust getting started. Don’t feel like you have missed out.. There is plenty of fruit left on the ecommerce tree.
3. Product collaborations
We love strategic collaborations between ecommerce companies. Imagine if you could promote your hot selling product to customers of another company with a similar client demographic. It’s a wonderful source of reliable, vetted traffic. You could also offer by swapping advertisements with another company.
Example: You approach an ecommerce business with a similar customer demographics to yours and say you would like to put promotional inserts in 5,000 of their orders. In return, you will put 5,000 promotional inserts in your orders.
To sweeten the deal for them, you could even offer to pay for their printing costs! You can also design the insert for them. How could they say no?
It’s all at a fraction of what Facebook ads would cost to find people who actually buy similar products online.
You could also offer to pay a company to place these inserts into their package—potentially growing their revenue stream and yours. All of these ideas can be tested relatively inexpensively but we understand they may not work for everyone.
Like all marketing efforts you want to test and measure the effectiveness of each campaign. For offline channels, use a coupon code, ask customers via surveys, or offer exclusive deals.
We encourage you to use these ideas as a starting point and come up with your own ideas. A little creativity can go a long way. If you’re looking for strategies to revamp your Facebook ads, we recommend checking out this complete guide to Advertising on Facebook by BigCommerce.