February 24, 2015 at 16:59Funnely: Automate Facebook ad creation for online stores
More recently, a new startup appeared to automate the creation of advertising campaigns for online stores on the social network Facebook - Funnely. At first glance, it might seem that the time for this was chosen poorly, since on February 17th of this year, improvements appeared on Facebook that expanded the capabilities of its advertising tools. Is it so?
Facebook’s advertising tools were really improved: the ability to display several products in one ad was added, an automatic search for users who are more suited to certain products, the use of product site statistics for targeting, dynamic retargeting, automatic removal of a discontinued product from an ad, and so on .
But as they saythe creators of Funnely, creating and setting up Facebook ad campaigns is a huge job that takes a lot of time. In addition, they need to be constantly updated, keep track of the budget, maintain the relevance of the content, and most importantly - to set goals and analyze the results.
For such work, the company will need a specially trained specialist, and maybe not one. They will have to not only do the work mentioned above, but also periodically learn new advertising tools that Facebook creates.
However, in this case, Nanigans comes to the rescue., one of the leading companies in the field of automation of social advertising. The budgets of its advertising companies have repeatedly exceeded $ 500 million per year. This is a very large player in the market for such services. They really take the bulk of their work with Facebook, budgeting and analysis of indicators and achieve excellent results using their own innovative technologies.
But a logical thought follows from here: not all companies can afford their services. And not even because they are poor. After all, it simply can be small firms that have a very modest turnover. And if these are small companies that don’t have that much money, but even don’t have advertising specialists?
And here comes into playFunnely. So, Funnely helps small online stores that don’t have the time, desire or qualifications to create and maintain Facebook advertising campaigns on their own.
The startup was founded by immigrants from Argentina, but the rest of the team is in Silicon Valley. The project received $ 237,000 from the 500 Startups business incubator, MITS Fund, NXTP Labs and business angels.
One of the conditions for working with Funnely is that the online store must be raised on the Shopify platform. Funnely synchronizes Shopify, Google Analytics and Facebook. Thus, the data on purchases and visitors of the store is analyzed using Shopify, then advertising campaigns are generated on their basis on Facebook, and goals are set in Google Analytics, indicators are monitored and results are analyzed.
So, working with the Invino wine store, Funnely first divided users into categories. Let’s say the category “lovers of red wine” was chosen. From the analysis of sales data received from the Shopify platform, the most demanded products from the selected category were determined. Facebook searched for users with similar interests who were also shown advertising of red wine. As a result, Invino, having invested $ 600 in a weekly advertising campaign, received a profit of $ 9,700, which is 16 times higher than the initial investment.
Despite the fact that the beta version of Funnely was released about a week ago, the project has already earned $ 150,000 and increased its return on investment (ROI) by 17 times.
Apparently, the Funnely project will take its rightful place in its segment, successfully blending in between Facebook and Nanigans.
In the future, Funnely plans to expand and work not only with Facebook, but also with other social networks.
Facebook’s advertising tools were really improved: the ability to display several products in one ad was added, an automatic search for users who are more suited to certain products, the use of product site statistics for targeting, dynamic retargeting, automatic removal of a discontinued product from an ad, and so on .
But as they saythe creators of Funnely, creating and setting up Facebook ad campaigns is a huge job that takes a lot of time. In addition, they need to be constantly updated, keep track of the budget, maintain the relevance of the content, and most importantly - to set goals and analyze the results.
For such work, the company will need a specially trained specialist, and maybe not one. They will have to not only do the work mentioned above, but also periodically learn new advertising tools that Facebook creates.
However, in this case, Nanigans comes to the rescue., one of the leading companies in the field of automation of social advertising. The budgets of its advertising companies have repeatedly exceeded $ 500 million per year. This is a very large player in the market for such services. They really take the bulk of their work with Facebook, budgeting and analysis of indicators and achieve excellent results using their own innovative technologies.
But a logical thought follows from here: not all companies can afford their services. And not even because they are poor. After all, it simply can be small firms that have a very modest turnover. And if these are small companies that don’t have that much money, but even don’t have advertising specialists?
And here comes into playFunnely. So, Funnely helps small online stores that don’t have the time, desire or qualifications to create and maintain Facebook advertising campaigns on their own.
The startup was founded by immigrants from Argentina, but the rest of the team is in Silicon Valley. The project received $ 237,000 from the 500 Startups business incubator, MITS Fund, NXTP Labs and business angels.
One of the conditions for working with Funnely is that the online store must be raised on the Shopify platform. Funnely synchronizes Shopify, Google Analytics and Facebook. Thus, the data on purchases and visitors of the store is analyzed using Shopify, then advertising campaigns are generated on their basis on Facebook, and goals are set in Google Analytics, indicators are monitored and results are analyzed.
So, working with the Invino wine store, Funnely first divided users into categories. Let’s say the category “lovers of red wine” was chosen. From the analysis of sales data received from the Shopify platform, the most demanded products from the selected category were determined. Facebook searched for users with similar interests who were also shown advertising of red wine. As a result, Invino, having invested $ 600 in a weekly advertising campaign, received a profit of $ 9,700, which is 16 times higher than the initial investment.
Despite the fact that the beta version of Funnely was released about a week ago, the project has already earned $ 150,000 and increased its return on investment (ROI) by 17 times.
Apparently, the Funnely project will take its rightful place in its segment, successfully blending in between Facebook and Nanigans.
In the future, Funnely plans to expand and work not only with Facebook, but also with other social networks.