This episode introduces Shopify Audiences, a new product designed to combat rising advertising costs and privacy changes. It allows Shopify Plus merchants to anonymously share data, create high-intent customer lists using machine learning, and leverage Shopify’s conversion insights for more accurate ad reporting and lowered CPMs. This tool helps merchants find new customers more profitably by optimizing ad spend and improving targeting.
Key takeaways
Understand how Shopify Audiences leverages aggregated, anonymous data from an opt-in merchant network to create highly targeted customer lists, helping to reduce advertising costs (CPMs) and improve ad performance.
Explore the potential of using machine learning within Shopify Audiences to identify high-intent customers who are most likely to convert, based on Shopify’s extensive conversion signals across its platform.
Recognize that Shopify Audiences provides improved reporting by closing the loop between ad impression and conversion, offering more accurate insights for optimizing future ad campaigns.
Consider integrating Shopify Audiences if you're a Shopify Plus merchant using Shopify Payments in the US or Canada, keeping in mind its current availability for Meta platforms with plans to expand to Pinterest and TikTok.
Leverage the shared audience network to maintain growth and customer acquisition despite increasing privacy regulations and the deprecation of third-party cookies, ensuring a sustainable customer acquisition strategy.
In today’s Shopify ecommerce podcast, my guest is Daniel Debow from Shopify. They recently launched a new product called Shopify Audiences.In recent years, regulatory and commercial privacy changes have affected how merchants can find new customers. Merchants were finding it hard to adapt to these changes while advertising costs (CPMs) increased as much as 300%. This was a problem Shopify needed to fix!Through Audiences they have created an opt-in merchant network to share data anonymously, and lower advertising costs. Merchants on the network are now able to build an audience list directly from their catalog - port it over in a privacy-safe way to ad platforms - and leverage machine learning to find new, high-intent customers for their products. Based on Shopify’s aggregated conversion signals across shops, they find customers most likely to be interested in the product, lowering CPMs and ultimately increasing working capital for merchants. Ultimately, what can be measured can be improved. Shopify’s unique view into conversion insights also helps to close the loop between the ad and the action - and provide accurate reporting that guides merchant decisions.The product is currently available to Shopify Plus merchants who use Shopify Payments and have shops in the US and Canada. We launched the product with Meta, and plan to open up to new platforms such as Pinterest and TikTok this year. Profitably GROW and SCALE your Shopify store with the resources mentioned in today's ecommerce podcast episode.Have any questions or comments about this episode? You can reach us at hello@ecommercefastlane.com or through any of our social channels. We love hearing from our listeners!Looking to profitably grow and scale revenue for your Shopify store? Click here eCommerceFastlane.com for the latest strategies. Hosted on Acast. See acast.com/privacy for more information.
What does this episode say about shopify & ecommerce platforms?
Understand how Shopify Audiences leverages aggregated, anonymous data from an opt-in merchant network to create highly targeted customer lists, helping to reduce advertising costs (CPMs) and improve ad performance.
What does this episode say about paid acquisition?
Explore the potential of using machine learning within Shopify Audiences to identify high-intent customers who are most likely to convert, based on Shopify’s extensive conversion signals across its platform.
What does this episode say about ai & automation?
Recognize that Shopify Audiences provides improved reporting by closing the loop between ad impression and conversion, offering more accurate insights for optimizing future ad campaigns.
What does this episode say about analytics & attribution?
Consider integrating Shopify Audiences if you're a Shopify Plus merchant using Shopify Payments in the US or Canada, keeping in mind its current availability for Meta platforms with plans to expand to Pinterest and TikTok.
What does this episode say about shopify & ecommerce platforms?
Leverage the shared audience network to maintain growth and customer acquisition despite increasing privacy regulations and the deprecation of third-party cookies, ensuring a sustainable customer acquisition strategy.
