Launch dynamic advertisements and display these same products in an advertisement with the carousel format Launch advertisements with the objective “Messages” in order to generate a Messenger conversation Send automatic cart abandonment reminders (if not already done) Etc. Lately, I also advise you to take a look at this very interesting funnel offered by Facebook: repeat purchases. Take several periods: 30 days, 60 days and 90 days. Next, analyze the percentage of repeat purchases. You notice it’s 7% in the last 28 days and the median completion time is only 9.8 hours! This obviously seems suspicious, but it is very easily explained. For anyone who joins one of my training courses, I suggest that they complete their purchase with a second training or coaching.
I make roughly similar offers a few weeks later … This is why the median completion time is so fast. On the other hand, if I take the account of one of my ready-to-wear clients, we notice here that the median completion time is 6.4 days and that the UK WhatsApp Number List percentage of repeat purchases is 15%! This shows that we do well to retarget customers with advertising or emails within days of their purchase. To finish this part, know that you can refine your funnels with different criteria such as age, language, gender, country, city, type of device, etc. You can also save your funnels by clicking the “Save” button to the right of each funnel you have built. 2) Income (and their evolution).
This is why the median completion
The second relationship that we are going to see together is obviously that of income over a period of time! You will quickly see that Facebook not only provides us with a graph showing the evolution of income, but other extremely interesting indicators. For this example, I chose the period from February 1, 2020 to June 10, 2020 for one of my clients who saw his sales increase very quickly with the forced containment due to the COVID-19 pandemic. The first thing that can be seen on this graph is the value of earnings (don’t pay attention to the dollar currency, this is something that can be changed in the settings of Facebook Analytics). We see over this period that there were 10,000 purchases, including 6,700 active buyers.
More than 1/3 of purchases come from existing customers. In this case, the company that I support has a very loyal clientele! Facebook also provides 3 other metrics that I find relevant: Average income per paying user over this period: $ 141.61 (to be converted into euros) Average income per product purchase: $ 94.11 (to be converted into euros) The average number of purchases per user: 1.5 (10.1K ÷ 6.7K) The advantage of this graph, over a sufficiently long period (at least 90 days), is that you can see the evolution of income over time, the peaks in income (is this due to a specific marketing action ?) and compare this development with the previous period.
This is why the median completion
The increase that you see from the end of March is somewhat correlated with the increase in the budget over this period (around 20% compared to the months of February and March), but above all with the cyclical effect of confinement. This does not mean that incomes have fallen since deconfinement, we even observe that they are stabilizing! To go further, Facebook also gives you the possibility to analyze the evolution of the average income per purchase and the average turnover per paying user. You can also change the time interval and refine it with variables like age, gender, country, etc. When you scroll down, Facebook offers you a second report showing the evolution of the number of unique buyers (or the total number of purchases) over the defined period. On this graph, we see a similar trend as on the first one.