By David Berry: This blog has become an outlet for broad level insights for marketers, as well as business owners looking to gain a few tips that might inspire new ideas. But today we're going to get into some nuts and bolts - and you'll walk away with some tangible tips that you can implement to create social media ads that do more than get a few new fans.
Today's blog centers around retargeting. If this is the first time hearing this term, I'll try to make it simple for you. Retargeting takes users who have been to your website or app and, based on what they did or didn't do there, hits them with additional messaging to encourage purchase or action.
The rationale for 'why' is quite simple - according to AdRoll, only 2% of shoppers convert (buy something) on their first visit to an online store.
Retargeting focuses on the 98% who don't buy something the first time.
It's easy to understand why retargeting is so valuable to marketers. Billions of dollars are spent every year by businesses in hopes of finding the right people to buy their stuff. Most of it is wasted on people who don't care or never even notice.
Retargeting only focuses on the people who have done something that shows they are interested in what you're selling. That means they've visited your website, added something to a shopping cart, searched for products, entered payment information and so on.
And as a marketer, that means spending money on people who might actually buy.
Here's a real-life example from a client of mine:
Let me explain what you're looking at. These are two campaigns that I ran side by side for a client last month. The campaign labeled 'FB Website Clicks (Groupon)' was a group that utilized targeting insights from a Groupon campaign and generated a 1.71% CTR rate - not bad. (Many brands will see website click ads with CTRs of under 1.0%).
The campaign above it, 'Retargeting/Conversions,' however, had a CTR of 7.84%, or more than 4X stronger than the other campaign. Plus, it led to 205 users going to my client's website and actually adding one of their products to their shopping cart. And in this reporting window (10 days), they generated 4 attributable sales - it is possible, or even likely, that these users made purchases that were not as easily attributable, as well.
And again, the rationale for why this works is simple - these users already showed you they were interested. You're just doing them the favor of following up with them to remind them. And in due time, if they're truly interested, they will buy from you.
That's your mini crash course. But now, how do you go about making this work for your business?
Facebook thankfully makes it easy(ish). If you're not too savvy with implementing code on your own website, you may want the help of a developer. Don't worry, once upon a time, I didn't know how to do this either. Plus for most strong developers, installing this snippet of code (and some of its extensions, aka 'Custom Events') to your website is a pretty quick task.
Facebook actually gives you all of the tools you need in order to create the code and it provides a step by step guide for installation, too. You can view that information here.
Don't get me wrong, there is still plenty of work involved with creating good ads, adding in layers of targeting and testing, testing and testing again to see which ones actually drive sales. But the reality is that in the realm of 'sophisticated marketing,' this is an attainable skill set to learn. And the value of taking the time to do so could truly change the financial outlook of your business.