“Ad spend keeps increasing but I see no results. Especially very less conversions, high cost per purchase (CPP), and so on”, sobs Peter, a marketer who is running Meta’s latest Advantage+ Shopping Campaigns (ASC+).
Like every marketer, Peter also wants to maximize his marketing performance. He focussed on one important metric, the conversion rate.
He was successful in increasing his conversions by 4X times!
How did he improve his conversion rate?
What features of Advantage+ Shopping Campaigns did he leverage to get the impeccable result of 4X higher conversion?
Read on to know…
Using First Party Data To Increase conversions in Advantage+ Shopping Campaigns
Meta’s advantage+ shopping campaigns are data-driven machine learning algorithms that give the results based on what you train them with.
When you give first-party data to Meta, it will be beneficial to you.
Wondering why first-party data? The logic is simple – “People who already interacted with your brand are the high-intent audience and are most likely to convert, compared to others.”
First-party data also provides relevant audience signals to Facebook to understand who is the right audience. It drives the algorithms to expand its audience net in finding relevant target audiences.
Train Meta’s ASC with First-party Data
Swiftly sync all your stored first-party audience data with Meta with just a click from CustomerLabs CDP. Do not forget to enable the “Activate UTM parameters for custom audience types for Advantage+ shopping campaigns.”
Doing this sends Meta two signals –
1. All your first-party data audience segments will be synced to Meta as a custom audience;
Meta’s algorithms will learn from the audience signals of this first-party data and train itself on these data signals to find new prospects.
2. Your UTM parameters at the ad account level for the ASC are set as – ‘new_audience’ for new customer value, and ‘first_party_audience’ for existing custom audiences who have interacted with your brand.
Having these UTM parameters will help in reporting and attributing the purchases correctly to new and existing first-party audiences separately.
Campaign Level Settings for Improving Conversions in ASC
Once the audience is synced, start setting up the ASC campaign.
At the budget & schedule stage, cap the existing customer budget at 20%. This means 20% of your ad budget is spent on the middle of the funnel audience (first-party audience).
The next steps are similar to the standard campaign setup.
Use attractive ad creatives, compelling ad copies, and relevant landing pages in the subsequent stages.
Note: There’s no Ad and Ad set level for ASC. There are only two levels – campaign level and one level after that to add the ad creatives, landing page URL, etc.
Improved Conversion Rate – The Result Of Using First-Party Data In Advantage+ Shopping Campaigns
Using first-party data in the Meta’s A+SC resulted in the below results:
First-party data improved the conversion rate and boosted the top-of-the-funnel (ToFu) campaign as well. It helped new customers convert at a very low cost.
“Advantage+ shopping campaigns drove 12% lower cost per purchase conversion compared to advertisers’ Business as Usual (BAU) ads”, says Meta
First-party data acts like a nitro booster that optimizes the campaign by giving a ROAS of 4 for Tofu and around 11.5 for MoFu audience.
The results also show that the conversion rate is 4X times higher for first-party audiences (MoFu) than the new customers (ToFu)!
Start syncing first-party data now with Meta and use recommended strategies to maximize your performance.