5 Last-Minute Holiday Facebook Ads Strategies To Maximize Profit
The holidays are right around the corner and with that comes higher CPCs (cost-per-click), higher acquisition costs, and more competition.
Now the problem is that a lot of businesses act as though they are helpless and can’t do anything to increase their potential for success during the holiday season.
In this article, let’s dive into the 5 strategies to increase profit and reach during the holiday season.
1. It’s All in The Creatives
The holiday season calls for new creatives.
People are looking for deals, heck we prime ourselves each and every Thanksgiving to get ready to buy as much as possible after dinner is over.
Red, Green, and % off signs are on the top of mind.
Which means, your creatives should be mirroring what people are already looking for.
Design creatives that break up the Facebook platform, while also calling attention to your deals and holiday festivities.
Holiday Dynamic Product Catalogs
One major area that people often miss out on is the holiday-themed dynamic product catalog ads.
By simply adding a banner (or utilizing FBs new border tool) it’s easy to refresh your creatives and keep them seasonal during this time.
Bonus Tip: Use a Custom Variable to show how discounted each product is and include that in the dynamic description or even the copy.
2. Manual Bidding During The Holidays
Increased competition rings the bell of this true the statement:
“Whoever Can Spend the Most to Acquire a Customer Wins”
Well, that applies to those of us using an automatic bidding strategy with a high-ticket priced product.
Yet, when we want high-quality customers and to reach the people at the bottom of our funnel, we need to make sure we reach them.
Which means manual bidding has to come into play.
Two Manual Bidding Strategies: Cold Traffic Vs. Warm Traffic
Cold traffic are those unaware or slightly aware of who we are as a brand.
If they are on Facebook during this period of time, it is likely that they are being targeted by a lot of advertisers.
Which is where we need to fine-tune our manual bidding strategy.
Using 3-5x CPA as your manual bid override will prove to do 2 things:
- Ensure that your ad is being shown top of funnel
- Weed out the cheaper clicks that likely won’t convert.
Some call this the bully method, as you “bully” out those people who aren’t worth paying for.
During the holidays it works great.
On the other hand, when remarketing and targeting warm traffic, we mainly just want to get these people back to our website.
That means using the CPC override and targeting between $15-$20 a click.
Don’t worry, you won’t be spending that much per click, but it is another way to ensure that your ads are actually shown to those who are your prospective customers.
3. Using Past Buyers As A Gold Mine
As we just talked about, during this period of time, you’ll want to have past buyers at a higher bid.
Yet, people often forget that their buyers (up to the inception of their company) are the perfect customers for any sort of sale or offer.
Once someone says yes to you, they are infinitely more likely to say yes to you again.
That’s why you always give work that needs to be done to the busiest person in the room.
By targeting your past buyers and remarketing them deals or best sellers, you’ll likely get a stronger ROAS (return-on-ad-spend) with a lower cost per acquisition than any of your other remarketing audiences.
4. Nailing Your Offer
Holiday offers require a bit of thought.
Yes, you can just offer a blanket 20,30,40, or 50% off and call it a site-wide sale, although there is a reason the biggest retailers take a different approach.
They assemble gift packs, will gift wrap your items, and allow you to invite friends to purchase (where you get something in exchange).
During the holidays, with the steep discounts, it’s important to have some way of increasing perceived value and with that AOV (average order value).
Bundles, gift wrapping included at a certain order value, or Holiday exclusive items all lead to a higher AOV without having to compromise as much on the discount.
Think through your offer and don’t just call it the BFCM 50% Off Everything sale.
5. Awareness Now, Profit Later
We still have a week before Thanksgiving, which means this is end game.
It also means that you have one more week to get people out of the cold and into the warmth.
By targeting a lower ROAS and aiming for more exposure leading up to Black Friday/Cyber Monday you are more likely to improve your sales.
Once people become familiar with your brand, you can pull your warm retargeting magic and get them to convert with the killer bundle you are offering.
What looks like a loss in ROAS and overall CPA for this week, will be vastly made up during the next week.
Those are the five strategies to really nail the holidays on Facebook advertising.
Don’t want to do it yourself? Fill out the form here and we will help you get set-up for the holidays.