Thriving with Shopify: SHOPIFY AUDIENCES
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.
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