Jul 19 , 2019

Facebook Targetting Tip (Targetting Untapped Markets)

Selecting countries to target is pivotal when you're starting out as targetting countries which has a below the average GDP/Capita or countries which do not spend as much on E-commerce/Online consumerism would be detrimental as you do not get your money's worth when advertising.

What do I mean by this? 

For example, countries like the US is known for it's colossal consumerism and has a high GDP/Capita (59,000) as reported in 2017. This puts the US in a top tier country for consumption and would be a great choice to target your advertising materials. On top of that, with the vast population residing in the US, this data would prove to be credible as certain countries have a high GDP/Capita coming from a small population and a small sample size may not be an accurate depiction of the consumerism data in the specific country. Particularly because the flat value of the number of people who are digital buyers would be a fairly small amount even if the percetage values are higher than average.

To start, some guidelines you can follow is by narrowing from the list of e-packet countries you're shipping out to when you're starting out. (Click here)

From there you can search up various countries' GDP/Capita, their population size, and their online consumerism. From there you can cut off a few countries so that you do not spend money advertising to them. The big 4 countries you can target starting out would be Australia, United Kingdom, United States and Canada. However if you do want to branch out to more countries or target untapped markets in countries which have yet to be shown heavy advertisements, this is one way to go about your research.

A basic blueprint

1. Search for 5 -10 interests in your niche that you can target

2. Research countries which are optimal to target in terms of their GDP/Capita and consumption online (This can be further reinforced by searching up countries which are more inclined to purchase your products on google trends)

3. Run your interest targetting in these countries

4. Alter and tweak your ad group such as your gender and age based off the data you collected

From there you can, you can branch into more ad sets such as Lookalike Audiences (LLA) based off the data you've collected from your interest targetting. Hopefully you'll be able to find certain countries that are more reactive to your advertisement and products and you can then target these countries even more.

 Here are a few sites you can do your research on

https://www.websitebuilderexpert.com/blog/worlds-biggest-online-spenders/

https://www.worldatlas.com/articles/countries-that-spend-the-most-shopping-online.html

https://www.easyship.com/blog/10-ecommerce-destinations-to-target

All the above websites contain information and data wich belongs to its' rightful owners who have done the work to research on it.

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