Monday, October 31, 2022
Boo! The spookiest costume of them all 😂
Have some chocolate or candy today – it’s a must! 🎃
In this newsletter, you’ll find: 👇
📦 Combating high Meta costs with scrappy content
📦 The magic of bundling for your business
📦 Personalizing your ads preferences with Google’s My Ad Center
📦 How to automate every aspect of your customer analytics to be faster, more efficient, and more profitable
Read till the end to access exclusive DTC swag. 😎
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Getting the Most Out Of Meta
Struggling to gain traction on Meta and want some tips to reinvigorate your ad account? Keep reading. ✅
With visibility into 170+ Meta accounts, the Pilothouse Meta team is seeing an increase in cost-per-acquisition (CPA) and decreased conversion rates (CVR) in their top four geographics (USA, CA, UK, AUS).
While cost-per-click has only increased by 4%, click-through-rate has increased by 10.4%. Together, they bring a higher overall cost-per-acquisition (CPA).
Here’s the top four things the team thinks are impacting high CPAs and decreased conversion rates:
So how can brands win? Let’s find out 👇
🧨 It’s time to get scrappy
When looking at winning trends across accounts, one thing is incredibly clear: scrappy content is working!
People are looking to social media for entertainment, and scrappy content interrupts the scroll pattern and invokes audience curiosity.
For example, reaction style, BeReal-esque, TikTok trends, and reveals are very hot right now! 🔥
Pick a theme, match it, and create an ad that doesn’t stand out as an ad. Additionally, look at what your target audience is looking for in terms of entertainment and mimic it.
Two simple formats to test right now (that are consistently top performers in Pilothouse ad accounts):
Keep scrolling for another top performer and scaling on Meta based on your budget! 👇
Work some bundling magic!
❤️ You want customers to love your products. Your customers love picking their favorite products. They love it more when you give them a discount for doing so!
So….🎵 Put 'em together, and what have you got? 🎵
That’s right! Customers see immediate value in product bundles—from the discounts they receive to the time they save sifting through your website.
But Bundles aren’t only magical for your customers. They’re magical for your DTC business as well.
Imagine selling fully customizable product bundles. Imagine seeing 9% less churn and a 7% average increase in LTV 😮
So—what can you do with Bundles?
👉 Ready to create fully customizable bundles for your store? Enable Bundles today.
🤓 1 creative test? No thanks
If you’ve got the resources… test, test, test!
Pilothouse’s highest-performing Meta accounts are deploying remarkable numbers of creatives all the damn time.
The market is becoming more and more saturated, so ensure your product, offer, and creative strategies are on lock. 🔒
Here’s what the team suggests:
1️⃣ If you’re on a tight budget ($500 ad spend/day):
Build a pilot test, take your ad set budget, and segment! Think 20-30 ad sets per campaign with low budgets on each. Generally, this looks like approximately $10 of spend on each ad set per day optimized for conversions.
Look for front-end metrics (and hopefully some conversions!), but really what you’re finding is what works with your audiences.
Only test one ad per ad set. This way, you see which variation works best for your brand!
2️⃣ If you’ve got cash money
Run evergreen campaigns and test pretty thoroughly. The team suggests testing across the entire funnel with a combined campaign (three top-performing ad sets that are prospecting and one that is retargeting).
Once you figure out what’s performing best for your accounts and audiences, build the creatives into your scale campaigns!
👀 Whatcha looking for?
Don’t just look at view data to understand how your campaigns are doing! Optimize your campaigns to the data you’re actually getting back from campaigns.
Test 7 day click, 1 day click, and use Google Analytics to look at your click data. Relying on only in-platform reporting isn’t going to get you far these days.
Remember, lean into where you’re getting clicks, not view attribution!
For more information on building campaigns that scale on Meta for your brand, third-party brands, and darkposting listen to the full episode here!
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My Ads, Your Brand
Google has rolled out “My Ads Center” for consumers to personalize their ad experiences on and off the platform. We’ll break down what you need to know about the program to ensure you build or maintain a high level of engagement.
🤔 When and where
Consumers can now choose what brands they’d like to see ads from. First impressions are (still) everything. One negative transaction can lead to a complete halt in advertising with that customer even though they’ve enabled ads in your field.
Consumers can also select what platform is used for ad tracking. For example, a consumer can select YouTube for ad tracking, where they mostly watch beauty content.
In this case, ads from other industries like tech or finance will be limited for this user. Since Google’s ecosystem believes this consumer is highly invested in beauty content, ad campaigns for your tech business won’t reach this person as often.
🛠 The toolbelt
Education, relationship status, and occupation can influence ad recommendations, so be sure to target the right demographics within these categories.
👉 So, what isn’t used for ad targeting?
🚫 Sexual orientation
🚫 Gmail content
🚫 Photos content
🚫 Drive content
There are a couple of ways to navigate the My Ads preferences to ensure that your ads won’t be significantly affected.👇
Stay tuned to social media platforms and other business profiles to know the crowd you’re speaking to. What visual and branding choices could you make to ensure that your audience leaves your brand’s ads enabled?
Some areas to consider in ads are:
Consumers can choose the specific business category they want to see ads from. If your field of work isn’t correctly identified in the Google Merchant Center or Ads account, consider reviewing these details.
You want your ads going to the right people!
You’ll engage a more specific consumer base. People have chosen to see your ads because they want to participate in the industry. This leads to a potential higher engagement and conversion rate with ads, but the sacrifice will be your reach.
Make every sale count as the people seeing your ads are passionate about your products and will spread the word.
💪 Google frames this update in a way that provides the consumer with more control over the ads they see. In other words, you are speaking to invested people.
Use this update to grow meaningful relationships with your consumers and build retention and credibility. The goal isn’t to appeal to everyone but to care for your community and make the most of every relationship you nurture.
Let us know the impact these changes have on your marketing strategies by sending us a reply to this email! 🦻
🐥 Twitter deal to close by Friday, according to a new report.
∞ Meta Offers New Insights to enhance ad performance amid privacy and system changes.
💰 Amazon now allows customers to make payments through Venmo.
🇨🇦 Bank of Canada increases policy interest rate by 50 basis points.
👟 Adidas cuts ties with Kanye West.
🏷 Department store foot traffic is down but recovering.
💧 Bryan Alston, Greater Than - How Greater Than Became Inc’s #198th Fastest Growing Company In the US.
❌ Attribution is a Dead and What To Do Instead with SegmentStream’s Constantine Yurevich.
🖋 Nathan Thompson & Stu Jolley, Stories and Ink: Growing with SEO and Artist Collab Content.
🥦 High Performance, Nutritionally Complete Marketing to $150M with Huel's Ben Bokaie.
⭕️ Turn Your Returns Into Exchanges With Aaron Schwartz from Loop.
Don’t forget to rate the DTC Podcast on Apple (⭐️⭐️⭐️⭐️⭐️)
DTC Newsletter is written by Rebecca Knight and Michael Venditti. Edited by Claire Beveridge and Eric Dyck.
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