I am about to launch into a new skincare label. I am a little wary about the best potential advertising platforms for this offer, as its a very competitive market. Adwords has been taken by most of the major brands and therefore the CPC would be extremely high in this market. After crunching some metrics, I would need to keep my CPC on Facebook or Adwords at $0.60 or lower to make a profit on the front-end, converting at 2%. Looking for an advice.
There are Facebook advertising techniques that would allow you to target competitors followers, related beauty or skincare pages followers then target them with your advert going to a landing page with a buy now unmissable offer to capitalise on your conversions. Because most people do not buy first time, I would then re-target them with the offer on their Facebook newsfeed so they do not forget you, adding to your conversion. Facebook is by far the cheapest for adverts Google would be crazy prices for this type of product. You could also look at placing with affiliates and let them do all of the marketing work and your cost would be fixed, but there is a lot of competition for affiliates in this sector so maybe difficult. If done right on Facebook with a laser targeted campaign with landing page you should be looking at $0.25 to $0.30 per 1,000 views with a decent conversion making the cost per conversion very low. When you target people you know would be interested in your product it is always best to do a CPM campaign rather than a CPC as this is a waste of money, if launching this product there is no market price other than competitors products so you can show it as a high price then do a landing page with a launch offer only available for a limited time with a count down clock, even offer referral discounts if they share on Facebook.
Hope this helps
I completely disagree with Facebook ads. Whens the last time you went on to Facebook to look for a product to buy? Youre going to be product pushing and not solving a problem. You may pay more with Google but it will be more qualified leads. Let me know if youd like to discuss more. Ive got extensive experience in both FB and Google ads.
Totally agree with Mark here.
- Target competitors / interests on FB
- Drive traffic to a landing page
- You can even create an offer and capture emails (enter to win YOUR PRODUCT)
- If you have lots of non-FB traffic, I would suggest website re-targeting on FB
hope this helps
The answer here ultimately depends on what the product is - whether its something you need to generate awareness of or is something you can capture existing demand for...capturing existing demand works if your product is the solution for a problem.
If you need to generate awareness....then FB ads and Google Display Network are the way to go, more on display network here: http://www.thesearchengineshop.com/how-to-promote-your-business-using-google-display-network
If there's already active demand or your product is a problem/solution type of product Adwords can work well
Facebook, Google, twitter, etc. They all have their OWN USP. Therefore there is no black and white "this is better than the other." It's about what you have and who wants it... and where they are/how you position it.
From my own data, Facebook isn't totally ineffective and it is not a "waste" of money nor are the people unqualified, if you are strategic in your approach. A super targeted campaign is likely going to determine your end result.
However, it is not dependent upon interests or "fan page likes" alone.
I highly recommend creating custom audiences of people who you know are most certainly in your target demographic and put some creativity into creating the group.
If you do this, use the optimized CPM option in the Power Editor to an audience of around 3K-5K.
Just as a testing example: Taking this approach, I paid $3.81 for 3 front end sales, 11 leads, and 7 phone numbers. My clicks were up over 270. I would have paid much more had I bid on clicks to a broader audience.
PPV is also another good option for pushing a skin care product to a specific target demographic that is already visiting other high traffic sites relevant to your offer.
Just an extra 2 cents :)
Youtube leads cost me a fraction of what Facebook leads cost with a great campaign. You are lucky to get quality FB leads for $2--$2.50.
Pinterest and Twitter are geared more toward the age range and income level that most skin care products are relevant to.
Forgive me for the scattered insights, I'm working on cup of Coffee number 1 this morning. :) Have a great day
You may not be there yet, but at some point I'd suggest getting samples of your product into a subscription box such as Birchbox.com. (There are many; Birchbox is just the one I'm most familiar with.) Members earn points for doing short surveys for each product they sample, so it's a way of getting some extra market research too. Birchbox uses many engagement points to encourage subscribers to purchase the product through their online store: Birchbox.com monthly box preview videos, how to videos, articles in their online zine and blog, and in multiple emails sent to subscribers with offers that encourage them to buy throughout the month the product is in the box. That can be a great way to get new customers who are loyal to your brand. It's definitely a "go big or go home" option, but if Birchbox doesn't happen to accept your product, you'll learn a lot about what you need to do to make your product more competitive. I'm happy to discuss more ideas if you'd like, and I can recommend some beauty bloggers to contact as well.