One of the biggest nightmares of every eCommerce marketing team is that the products they promote by allocating a budget cannot achieve the expected conversion rate. 😱
The lack of positive feedback about product strategies that are planned effort and time can cause great disappointment. Although this may seem like something related only to the product with a low conversion rate, it actually affects the performance of your other products. Because investing both time and budget on a product that does not bring you profit will cause you not to be able to adequately share your time and money with other products.
Of course, it is not right to say that the products with low conversion rates are the black sheep :)
Because using different strategies to promote these products and capture the attention of users can also be a good method to solve the problem. But things change a little when it comes to saving money and time.
At this point, it is necessary to make the right decisions and create new sales opportunities by throwing non-converting products into the background. Because your spending on these products is wasted and increases the cost of your overall business marketing.
Why Is It Important to Track Facebook Ads Performance of Products
Tracking Facebook Ads performance of products is important for you in many ways to improve your overall business marketing performance. In this way, you can create new strategies and take firm steps. Let's see what these are!
1) Learn from your mistakes
You can spot errors in your strategy by detecting products that don't perform as you expect and don't provide adequate conversion rates. In order for users to have a successful purchasing process, you need to impress them enough to want to interact with your product. Because users do not want to waste time with products that do not fit their search intent and do not interest them. That's why you need to catch their attention at every point, from the image you use when promoting the product to the page showing the product details.
Products that fail to do so are very likely to fail to convert and underperform. However, by regularly tracking the Facebook Ads performance of the products, you can see which products need improvement. So you can compare well-performing products with below-average-performing products and see where you went wrong.
2) Save budget
If you have products that still drive traffic to your site through Facebook Ads despite a low conversion rate, it can snowball into your advertising budget. Because the money you spend to promote a certain piece, in the long run, causes you to not focus enough on the others. As a result, other products with high potential are put in the background because of the money spent on this high-cost one.
For these reasons, tracking how the products you promote in Facebook Ads perform will help you find sales opportunities. With this tracking, instead of allocating a budget for low-performing products, you can create different strategies by distributing your advertising budget to other products. Thus, you will both create sales opportunities and save your money from wasting.
3) Increase your credibility
If the products you promote in Facebook Ads bring traffic to your site but cannot provide conversions, one of the reasons for this is that the product that users see in the advertisement does not match the product they encounter when they enter your site. In this case, users leave the product purchasing process and do not interact with the landing page. This not only increases your bounce rate but also increases your advertising cost. However, if you stop promoting products on Facebook Ads that don't bring you conversions and create different sales opportunities that fully match users' search intents, users will interact with your products more. As a result, you will have higher credibility in the eyes of users who think they have found the product they are looking for. Thus, you will create valuable customers who want to shop from you again in the future.
How to Find Sales Opportunities
When you do research on how to find sales opportunities through Facebook Ads, you will come across many product performance tools. One of them is Facebook Ads Manager. You can find information about how the products you promote in Facebook Ads are performing here and get detailed analyzes. However, only if you really have time and effort to spend 😊 Because Facebook Ads Manager has a structure that requires you to do many detailed filters to reach the data you want and can start to become boring for you after a point. Don't get us wrong, we're not saying that this system is bad, we're just talking about it being a tiring process.
If you do not want to use Facebook Ads Manager, you will see paid product performance tools. Many of these tools can easily provide you with the data you want and enable you to take the necessary moves.
However, a problem may arise here. Does it really make sense to spend a lot of money in the long run on a tool that can only do product performance tracking? Or is it wiser to invest in a tool that will enable you to track product performance and help you with many different issues?
We're sure you chose the second option😊 Well, then you need to find such a tool, but don't worry, you don't have to go far.
heybooster detects products that have not been able to provide a conversion rate despite high traffic last week and allows you to see them. Thus, you can quickly detect which channel the traffic is causing costs for you.
Let's see how you can detect these products with heybooster and thus create new sales opportunities!
1. To find sales opportunities with heybooster, the first thing you need to do is to register!
2. Secondly, click Integrations from the left side menu and connect data sources and heybooster.
3. In the third step, click Insight Categories and run the Product Performance package.
4. Then, click No-conversion product landing pages from the page that opens.
5. And that's it😎 If you wish, you can receive daily, weekly, and monthly alerts by clicking the Set a Notification option to be informed about the changes that may occur in the data!
To summarize, it would be wiser to stop promoting products that drive traffic to your website but fail to convert and focus on different products. Thus, you can allocate more budget to other products and create new sales opportunities by promoting them.
heybooster is all you need to detect the opportunities! It will detect these products completely automatically in your stead. In this way, heybooster helps you to create different strategies by preventing you from wasting your time and money.
Click here and try heybooster now!