The Power of Facebook Retargeting For Your Business
Chances are, you’ve experienced the eerie feeling that a brand was following you on the internet.
You know, you browse around on a site then soon after you leave the site and head over to Facebook, you see an ad enticing you with the very product you were looking at. That my friend is retargeting!
As a consumer, you understand how effective retargeting ads are at getting you to go back to a website, but after reading this article you will have an understanding of how you can begin to take advantage of Facebook and Instagram retargeting ads for your business.
What is Retargeting (aka remarketing)
Facebook retargeting, sometimes referred to as remarketing, is the process of sending ads to people who have done either of the following:
Visited your website
Visited your App
Visited your Store
Engaged with your Facebook Page
Joined your contact list
The first four on the list are made possible through the Facebook pixel. The Facebook pixel is a code added to your site that makes it possible to keep track of Facebook users that visit your site. You can also upload contact lists from your CRM or some other source to retarget people on the list.
Why is it important
By now, you know ‘what’ Facebook and Instagram retargeting is, but why is it important to your business?
Facebook retargeting increases your sales conversion rates. Your website visitors are 70% more likely to convert on your site when retargeted. If that isn’t enough to convince you that you should be using retargeting, then by the end of this article, you will clearly see the value of retargeting for your business.
Facebook and Instagram ads increase familiarity
People don’t buy from somebody who they’ve only heard of once….ESPECIALLY on the internet. That’s why approximately 96% of visitors that come to your website are not ready to buy.
In fact, it takes 7 to 13 touchpoints to finally get a conversion. A touchpoint is any encounter or interaction your prospect has with your brand, including a: social media post, flyer, website visit, store visit, email, and so on. Thanks to Facebook retargeting ads, it’s easy and affordable to continuously present your brand to your target audience.
The more a prospect sees your brand, the more familiar with your brand they become. With familiarity, comes trust, and a prospect has to trust your brand to buy from your brand.
Personalize ads based on prospect behavior
Thanks to the Facebook pixel, mentioned earlier, you can personalize ads based on your prospects’ or customers’ behavior. For example, let’s say a customer buys lotion on your website, soon after they can be shown an ad for matching perfume. Or, consider a prospect that’s browsing your site, looks at the product page for a laptop, but leaves your site without purchasing. You can quickly drive them back to the site by delivering an ad to them containing the exact laptop they were peeking at.
By now, you see that Facebook retargeting is a fantastic way to push prospects through the funnel, or customer journey, towards a purchase. In essence, retargeting is important because it allows you to do 3 different things:
Reach people who already know you (staying top-of-mind)
Personalize ads (personalized experience increases likelihood of purchase)
Keep your loyal customers coming back (showcasing new or complimentary products to your best customers.)
Now do you see why Facebook and Instagram retargeting is important? Next, let’s talk about the mechanics of how retargeting ads work.
How Facebook retargeting works
Retargeting is made possible thanks to the high-tech machine learning and tracking capabilities afforded by the Facebook pixel. When someone visits your website and takes an action (for example, buying something), the Facebook pixel is triggered and reports this action.
Retargeting starts with finding people who have engaged with your business, both online and offline. There are two ways to create retargeting audiences.
Customer Lists - create audiences by uploading contact lists you have
Pixel - create audiences based on activity on website, app, Facebook and Instagram page or in your store
Things get really interesting with dynamic retargeting ads. Dynamic ads automatically show each viewer the most relevant products and ad creative across Facebook, Instagram, Audience Network or Messenger, based on the actions they’ve taken on your site or app.
Ready to get started with Facebook and Instagram retargeting ads? Here are the steps to get started if you are a beginner.
Create and install the Facebook Pixel on your site
Create a custom audience using the pixel for Website Traffic (60 days is a good time interval).
Create new campaign, naming it “Retargeting Ad”
Select the website traffic audience you just created within the Ad Set
Add your creative, and publish
You’re off to the races! If it gets too complicated, let us know
As you can see, Facebook retargeting is extremely useful. Thanks to retargeting, businesses of all sizes now have access to an affordable way to increase brand familiarity, provide personalized ads, and increase sales conversions.
If you’re not retargeting, get to it. If nothing else, your business should be running a retargeting ad to your website traffic. At Olam, we’ve increased revenues 5x for clients by employing retargeting. It’s overwhelmingly affordable, and well worth the return on investment.