The eCommerce Marketing Podcast walks you through everything that goes into ecommerce marketing — from inbound marketing to paid advertising to conversions. Learn the strategies top marketing experts use to grow their businesses.
Marketing Strategies Revealed in this Episode:
- How an Ecommerce Business Gets Started with Facebook Ads
- The Best Creatives to Use for Your Facebook Ads
- What Is the Best Audience to Target
- How to Maximize Your ROI
Episode Title: Facebook Advertising Strategies with Steve Chou
Guest: Steve Chou, Co-Founder of MyWifeQuitHerJob.com
Host: Arlen Robinson
In this episode of the eCommerce Marketing Podcast, Arlen Robinson interviews Steve Chou, who runs the popular blog “My Wife Quit Her Job,” where he teaches others how to start their own e-commerce business. Steve shares insights on how e-commerce businesses can effectively use Facebook advertising to boost their sales and traffic. He provides actionable tips and strategies for both beginners and those looking to enhance their current Facebook advertising efforts.
Key Takeaways:
- Introduction to Steve Chou and His Journey (00:00:30)
- Steve’s background and how he started “My Wife Quit Her Job” after his wife wanted to stay at home following the birth of their first child (00:01:30).
- The story of how they started their online store, Bumblebee Linens, which led to the creation of the blog (00:03:00).
- Getting Started with Facebook Advertising (00:04:15)
- Importance of starting with Facebook Dynamic Product Ads for quick wins and high conversion rates (00:05:00).
- These ads show products dynamically to visitors who have already viewed them on your site, leading to higher conversion rates (00:06:30).
- Budget Recommendations for Facebook Ads (00:09:00)
- Suggestion to start with $10-$15 per ad set for top-of-funnel campaigns targeting cold audiences (00:09:30).
- Focus on gathering data and iterating on successful ads to maximize return on investment (00:11:00).
- Advanced Facebook Advertising Strategies (00:12:00)
- Dynamic Cross-Sell Ads: Targeting customers who have already made a purchase to show them related products (00:12:30).
- Retargeting Ads for Service-Based Businesses: Using straight retargeting ads to bring back visitors who didn’t complete a purchase or sign-up (00:14:00).
- Impact of Current Events on Facebook Advertising (00:15:30)
- Steve’s take on how the concerns around data privacy and politics do not significantly impact e-commerce advertising on Facebook (00:16:00).
- Creating Effective Facebook Ad Creatives (00:18:00)
- Video ads tend to perform best for top-of-funnel engagement, even simple slideshows with captions can be effective (00:18:30).
- Tools like Animoto or InVideo can help create engaging videos quickly (00:19:30).
- Targeting Strategies for Facebook Ads (00:21:00)
- Start broad by targeting based on interests and then narrow down using lookalike audiences based on engagement and purchase behaviors (00:21:30).
- Future of Facebook and Social Media Advertising (00:24:30)
- While building a large following on Facebook may have diminishing returns, investing in ads and new platforms like Facebook Messenger is beneficial (00:25:00).
- Utilizing Facebook Messenger ads for direct engagement and higher open rates (00:26:00).
- Immediate Steps for E-commerce Businesses (00:27:00)
- Implementing dynamic retargeting ads to quickly drive traffic and sales from existing site visitors (00:27:30).
- Running ads to bring back previous customers who haven’t purchased in a while (00:28:00).
Guest Information: Steve Chou
- Co-Founder, MyWifeQuitHerJob.com
- Website: MyWifeQuitHerJob.com
Links and Resources:
- Download the six-month guide to marketing your e-commerce store: Get OSI Guide
- Subscribe to the eCommerce Marketing Podcast on iTunes and leave a rating and review.
