At Shoelace, we know it's hard for you to estimate how much to invest into Facebook retargeting campaigns for your Shopify store. And we know that it's just as hard to gauge what returns you can expect from your campaigns.
So we're here to help.
We want to help you decide when it's a good time to invest in Facebook retargeting and which indicators to keep an eye on when you start run campaigns.💪
Without further ado...
After analyzing the data of over 17,000 users we found that these 2 leading indicators make the most impact on how well your retargeting campaigns do:
Store traffic (aka the # of people visiting your store)
Average Order Value (AOV)
Here's a handy chart that shows what Return on Ad Spend (ROAS) to look for, based on your store's weekly traffic and your AOV:
And here's what the numbers mean:
0X ➡️ You're losing more 💰 than you're making 😢
1X ➡️ You're making $1 in sales for every dollar your spend on ads 😒
2X ➡️ You're making $2 in sales for every dollar you spend on ads 👍
3X ++ ➡️ 🤑🤑🤑🔥🔥🔥
So basically... Higher Traffic and/or Higher AOV = Better Performance!
But of course, these are just benchmarks to compare your results by. The numbers you get can still vary from ours!
Not sure how to drive more traffic or how to increase your Average Order Value?
Check out these 2 articles:
👉 Tips to Drive Traffic to Your Store
👉 5 Proven Ways to Increase the Average Order Value of Your eCommerce Store
Want to leave your retargeting in the hands of an expert?
P.S. If you are currently doing retargeting and getting better results than what we show, please get in touch! We would love to learn from you. 😊