digital media

3 Ways to Squeeze More from Facebook Web Retargeting

By David Berry: In February, we gave you a blog on the basics of Facebook Web Retargeting; what it is, how it works, and how powerful it can be when supporting bottom line business goals.

Today, let's dig a little deeper. One thing to note is that web retargeting isn't a magic fix-all. Some brands might see it that way, though. They'll set-up a basic web retargeting pixel and say "wow, we're seeing higher click-throughs and traffic. This thing works!" But below are three ways to get even more out of the pixel.

(Note: There are other types of retargeting that we'll touch on in other blog posts, such as engagement retargeting)

1. Retarget Off of Individual Pages on Your Site: If you're an ecommerce retailer with a wide variety of products/target users (think Party City), then retargeting off of all your site traffic may not be the best use of your time. Instead, retarget off of specific pages. The Disney movie, Frozen, has been huge in recent years, and the target user for the products there are likely the mothers of young daughters. So, Party City would get the most bang for its buck by retargeting off of the Frozen page and serving other Frozen content to those users, knowing they've already expressed an interest in Frozen-related products. The odds of conversion/sale increase dramatically when you're retargeting users with content that is specifically relevant to what they already clicked on.

2. Use Retargeting Audiences to Market Similar Product Lines: Let's go back to the Party City/Frozen example. If I have a user who has already clicked on an Elsa costume, for example, then she may be an ideal target for ad content that I'm about to promote for Beauty and the Beast products (not gonna lie, I really can't wait to see it). This is likely to lead to higher click-throughs than simple interest targeting. 

3. Use Retargeting Audiences to Create Lookalike Audiences: Facebook has extensive data on its users, everything from age, gender, school and family status down to past purchasing behavior and web activity. Which means that when they say they can find users who look and behave like you do on the web, you know they mean it. So a great way to get extra mileage out of your retargeting audiences is to build lookalike audiences off of them. If I'm selling a ton of Frozen products, and I know that there are other users who look just like the ones who are buying my stuff, well, I'm going after them too.

Got any tips of your own? Share them here.

-DB

Here's How Much You Should Spend on Advertising

By David Berry: A question that every - every - marketer hears from prospects or clients is "how much should I be spending on ads?" And there isn't a marketer alive who can give you the "right" answer on the spot (though some could come close).

When I get asked this question, my favorite response is "one million dollars." I say it with confidence too. Invariably, the person who asks me chuckles, and then I explain the same thing every other marketer will explain to them.

"It depends..." 

Of course, even though "it depends" is the start to the right answer, people don't want the right answer. They want a tangible number that they can touch and feel. That they can react to and say "oh, I can afford that" or "oh, that's too much."

Today, though, I'm going to try to give you a "pretty good" answer to the question, based on a few assumptions:

  • You're a small-to-mid-sized business and you sell a product to consumers

  • You haven't done a ton of advertising yet

  • You have a lot of shifting priorities and don't know where to start

If that's the case, I can make a few more assumptions:

  • Advertising has to pay off quickly, or there won't be more money to play with

  • You'll watch over every dime once you start spending money on ads

  • You may be inclined to freak out, change direction or shut it off at the first sign of volatility

The good news? A lot of small-to-mid-sized businesses are just like this. Now, let's dive in.

Put Aside $5,000. I say $5,000 for a few reasons. It's an amount of money with which you can test and learn what works and doesn't work for your business. Plus, it's enough where you could justifiably stretch it out for several months. Too many first-time advertisers say they can afford a certain amount, yet when it comes down to actually spending it month after month, they balk. They freeze. And they pull back without learning or selling much. By putting your investment aside ahead of time, you remove the chance that you'll panic and pull back if you pay as you go.

But $5,000 Isn't Likely to Transform Your Business. Treat your initial $5,000 investment the same way you would treat the purchase of a sofa. You might recoup some of your costs on it, but the goal is to use it for a purpose. And that purpose, in this case, is to learn which approaches, messages, visuals, targeting, etc. are the ones that work for you.

You'll Get There, But You'll Need to be Patient: I have a client who spends $2,000 a month on ads and generates close to $7,000 in revenue. Another spends around $10,000 a month and generates around $25,000 in revenue. But that didn't happen overnight. In fact, in both cases it took us about three months to come up with an approach that generated consistent revenue. If either client had panicked in the first 90 days and abandoned ship, they wouldn't be seeing the success they're seeing now.

So there's your magic number! $5,000. Now, where do we start? Well, that's a conversation for another day. Or, you could email david@dbpluspartners.com to discuss it :)

-DB

 

Wtf is 'Digital Advertising' Anyway?

By David Berry: Once upon a time, when advertising budgets were dominated by TV, radio and print, the media landscape was easy to understand. Clients could feel and hear their ads, and the media was easy to understand too. A TV ad goes on TV. A radio ad goes on radio. A print spot goes in a newspaper or magazine.

But then along came digital, and the confusion began. Clients -- and even agencies -- were, and still are, slow to embrace it. Largely for the same reasons anyone is resistant to change; it goes against what they know. The medium itself challenges the entire process that so many in the creative world took for granted.

  • Client Sends Brief

  • Creative Team Brainstorms

  • Creative Team Comes up with Great TV Commercial

  • Creative Team Wraps Billboard, Radio and Print Campaigns Around TV Commercial

  • Yay!

Digital isn't that easy. And a lot of it isn't even visual or auditory in nature, so it's much harder to wrap your head around -- and therefore, harder for agencies to sell, and even harder for clients to sell to their own bosses. So, what is digital advertising exactly? In short, it's literally anything that is online. 

Digital advertising refers to marketing media that is digitally displayed. Digital advertising technology exists on the Internet, on smart phone and hand-held media devices, and even on automobiles and billboards.
— SmallBusiness.Chron

Within that definition, there are a number of categories which the ads fall into (and more than what I'm showing here).

  • Display Advertising. (Let's call them banner ads.)

  • Affiliate Marketing. (3rd party partnerships where content sites get a cut of sales from other people's products. Looks a lot like display advertising.)

  • Social Network Advertising. (Sponsored content and retargeted content.)

  • Search Engine Marketing (SEM). (If it's in the top 3 on your Google search, it was paid for.)

  • Search Engine Optimization (SEO). (If it's on the first page after the ads, SEO got it there.)

  • Mobile Advertising. (Ads that are targeted to your phone, because you fit the target audience or because you're near a place that wants you to shop.)

But there's something that a lot of digital ads have in common, and that's what makes it so hard to digest -- so much of what makes it good is never seen. For advertisers who spend millions of dollars on their ads, it's a terrifying prospect to say "hey, that TV commercial you can watch every day on your favorite stations? Let's drop that in favor of a bunch of Google Ads that you'll never see, with targeting too convoluted and detailed for you to understand."

How do you cut through the clutter and know you're not being had? Well, we'll talk about that next week. But for now, hey, you know what digital is. That's a good start.

- DB