As businesses discover the power of Facebook advertising, many are looking for ways to leverage it for specific promotions. A leading home decor retailer was running a one-day flash sale and wanted to use Facebook ads to maximize awareness and sales. The challenge for Acceleration Partners was to reach a relevant audience in a short period of time.
Strategy and Approach:
In order to maximize reach and ROI in such a short period of time, the Acceleration Partners team decided to use six ad sets, each with completely different creative and targeting parameters that included a mix of page fans, lookalike audiences similar to past purchasers,specific interests in the home decor market, and site visitor retargeting. Each ad set contained two ads to A/B test: one static image ad and one scrolling product ad that displayed various products from the sale.
The strategy was to maximize reach out of the gate by using large enough budgets that could be reallocated as needed based on campaign performance. After launching the campaign, we optimized every hour based on the performance of individual ads as well as entire ad sets.
By midday we had removed the ads and ad set targeting parameters that weren’t performing, shifting those budgets to the top-performing segments. We then duplicated these top performers with slightly altered targeting to add to the momentum.
The campaign proved that Facebook can be an effective advertising tool for short-term sales. It accounted for 81 percent of sales the day of the promotion and its 2.9 percent conversion rate was significantly higher than the 1.45 percent conversion rate for the rest of the site. The CPA for Facebook was $33 versus the site-wide average of $73. Not only was the campaign a great success, but it provided an effective strategy that could be similarly leveraged for future short-term sales.