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Shopify has unveiled an advanced version of its Shopify Audiences tool with the goal of redefining the advertising game for e-commerce. This is great news for small business owners, particularly those looking to optimize their ad expenditure and expand their customer base.

What’s New for Small Businesses?

  1. Extended Platform Integrations: Shopify Audiences has now integrated with all major advertising platforms, welcoming new players – Snap, Criteo, and TikTok. They join the pre-existing giants: Meta, Google, and Pinterest. For small business owners, this means a wider net to cast their promotional campaigns, ensuring they reach their target audience irrespective of the platform they frequent.
  2. Performance Algorithms: Since its launch a year ago, Shopify has been ceaselessly enhancing the algorithms of Shopify Audiences. The results are telling. Merchants have reported up to 50% reductions in customer acquisition costs. For instance, Scotts Flowers NYC witnessed a staggering 140% boost in their return on ad spend (ROAS), while SIMKHAI attributed 89% of its new clientele to Shopify Audiences.
  3. In-depth Benchmarking: One standout feature in the enhanced Shopify Audiences is the benchmarking functionality. It allows merchants to compare their ad performance against similar businesses rather than a generalized grouping. This ‘like-for-like’ comparison gives businesses a clearer perspective on their performance, ensuring they aren’t erroneously comparing their custom t-shirt sales to high-end dress designers.

Why Small Businesses Should Care

David Wurtz, Shopify’s VP of Advertising, underlined the company’s leading role in commerce and emphasized its data-driven approach. The algorithms of Shopify Audiences continually refine themselves, leveraging insights from its vast merchant community. This is commerce’s version of ‘strength in numbers’. As more merchants jump aboard, the tool gets smarter, benefiting all.

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This collective data approach has led to a positive feedback loop. Data indicates that many merchants opt for an upgrade to Shopify Plus to harness the potential of Shopify Audiences. A case in point is Happy Hippo, a children’s bath product company. Upon their first campaign using Shopify Audiences, they attributed 23% of sales to new customers.

Shopify Audiences seamlessly integrates with other offerings, exemplifying the company’s holistic approach. Shopify Plus merchants, for instance, can use the Shopify Credit card for their advertising spends and earn cashback – a boon, especially during the high-spending holiday season.

While Shopify Audiences is available to Shopify Plus merchants in the U.S. and Canada, the company continues evolving its services. The complete suite of audience solutions, especially for TikTok, will roll out in stages.

This upgrade signals an era of more informed, cost-effective advertising decisions for small business owners and merchants. With Shopify’s expanding integrations and continuously improving algorithms, businesses can anticipate a stronger, more lucrative connection with their customer base.

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Image: Shopify




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