We’ve all been there: you go online to research a product or service, only to discover your Facebook page swamped with adverts for the same or similar goods throughout the following week. This occurrence appears to be mystical wizardry at best, and disturbing at worst.
In reality, it’s just a retargeting technique, which is a straightforward marketing strategy.
Retargeting on Facebook allows you to promote to people who have already shown interest in your brand by visiting your website, scrolling through your app, or engaging with your social media profiles. This effective social media ad may help you enhance your online conversion rate and sales like no other.
We’ll go through the advantages of Facebook retargeting and how to include it into your next Facebook ad campaign in the sections below.
Why would you want to advertise on Facebook?
Despite the popularity of Instagram, Twitter, and TikTok, Facebook remains the most popular social media network for advertisers. Over 95% of social media marketers believe it provides the best return on investment.
The fact that Facebook has such a large consumer base adds to its advertising efficiency. Facebook has approximately 2.8 billion active daily website users as of 2021, which is more than a quarter of the world’s population! All of these customers offers a wealth of information to Facebook’s advertising tool. Marketers could use this information to target their adverts with pinpoint accuracy.
Because of these and other capabilities, Facebook remains an important advertising platform for both large and small businesses.
What Are Facebook Retargeting Ads and How Do They Work?
The purpose of advertising in the past was to reach as many people as possible for the least amount of money. Obviously, reach isn’t the only factor to consider. In fact, no matter how many people see or even click on ads, they aren’t very effective if they don’t finally result in purchases or sign-ups.
So, where do you get in touch with the experts who can help you reduce the gap between clicks and conversions? Considering on their interest and familiarity with your business, you target individuals who are further along on their way towards becoming your customer. One can get the most out of their advertising budget by showing ads to people who are most likely to engage.
Retargeting (sometimes known as “remarketing”) is a marketing strategy that allows you to target people who have previously interacted with your brand in some way, whether they:
- Went to your website.
- Added something to their online shopping cart.
- Bought something from your website.
- Within their mobile app, they performed a certain action
- Been interacting with a post on your social media profile.
- Followed one of your links.
- Went to one of your locations.
If someone has already interacted with your brand, there’s a good probability they’re interested in your products or services. Even better, they’re already familiar with your business. They’re more likely to notice and respond if they see one of your adverts on Facebook. The buyer’s journey helps explain why this is the case.
What is the Buyer’s Journey, and how does it work?
Consider the buyer’s journey as a road trip that leads to a client becoming one of yours, complete with detours, rest stops, and cautious navigation.
It is divided into three stages:
- Awareness – A potential consumer recognizes that they have an unmet demand during the awareness stage. This causes individuals to look for solutions in the form of a product or service. Posting helpful, instructional information that introduces them to your company’s offerings is a common way to market to people at this stage of their trip.
- Consideration – Once a potential customer has characterized their problem, they will look into a variety of solutions and compare the services of several organizations. You must persuade people in this stage that your organization is the best alternative by emphasizing your unique value propositions.
- Consideration – A potential consumer chooses the best firm and makes a purchase during the decision stage. It’s vital to keep in mind that not all visitors to your website are at this stage. In fact, 96% of website visitors are not immediately ready to make a purchase. It might take a few more marketing campaigns before they’re willing to part with their hard-earned cash.
This is where a remarketing strategy may make a significant difference.
To sell to people at each of these stages, effective advertising campaigns utilize a variety of tactics. However, it is in the decision step that the actual money is made. As a result, Facebook retargeting advertising are quite valuable.
Advantages of Facebook Retargeting Ads
Let’s look at some of the major advantages of Facebook retargeting now that you know what it is. Facebook retargeting can assist you in the following ways:
- Convert interested prospects – Many ad campaigns aim to pique the interest of audiences that are still in the awareness stage. People who are familiar with your brand, on the other hand, have already demonstrated some interest. You may enjoy a greater conversion rate right away by marketing to them specifically. Brand new viewers are 70% less likely to convert than retargeted audiences.
- Profit from prior customers – Repeat customers are frequently the most profitable group to promote to. They spend almost five times as much as new customers and are nine times more likely to convert than new customers. You can use retargeting to target this population directly, increasing your chances of upselling and cross-selling.
- Reduce cart abandonment – If your website offers products, many visitors will add goods to their shopping carts only to change their minds at the last minute. At over 88 percent, cart abandonment is at an all-time high.
Retargeting on Facebook can help you recover the attention of these on-the-fence buyers and recoup a substantial amount of wasted revenue. If you offer a time-sensitive incentive like a coupon code or free delivery, your retargeted ad could be the final push consumers need to complete a purchase.
- Target with extreme accuracy – Facebook allows you to choose very specific targeting options. You can choose all of the demographic characteristics you would when configuring how to run Facebook advertisements with retargeting ads, including people who have completed specified engagement actions. Only visitors who have read through specified pages on your website, added things to their cart, or clicked on specific links will see your ad.
How to Use Facebook Retargeting
Now that you’ve convinced yourself of its worth, it’s time for your company to put it to the test. It may appear complicated if you aren’t a digital marketer by trade. Facebook, thankfully, makes it a lot easier than you may imagine.
Follow these steps to start up your retargeting campaign in just a few clicks:
- Construct a custom audience – You must first create your retargeting audience before launching your ad campaign. This is made incredibly simple by Facebook. All you have to do is go to the Audiences area of your Facebook Ad Manager account. When you get there, click “Create Audience” and choose “Custom.”
You can then choose from a variety of Custom Audiences, including:
- A customer file – This option allows you to submit a manually compiled list of people. This could be former customers or attendees from a previous trade exhibition. This list of names can be matched with their Facebook profiles, allowing you to promote to this demographic online.
- Website traffic – To remarket to your website visitors, you’ll need to create a digital list by including a Facebook pixel on your site. This enables Facebook to track your website visitors automatically. Facebook will walk you through the procedure step-by-step. Following the installation of your pixel, Facebook will begin generating a comprehensive list of all of your website visitors and their behaviors.
- App activity – If your business has an app, you may establish a Custom Audience for users who use it and take specific actions.
- Facebook engagement – Finally, you can retarget to an audience of people who have interacted with your company directly on Facebook. Maybe they liked a post or left a remark on a video you posted.
- Advertise to this custom audience – Once you’ve built your custom audience, you can use them as the target audience for an ad campaign. You can even add more targeting preferences if you want to. You could want to define a retargeting time period of 30 days, for example. This will allow you to connect out to consumers who have recently interacted with your business before they forget about a prospective purchase.
As you can see, launching a Facebook retargeting campaign is as easy as clicking a few buttons. Your audience will think it’s magic, but it’s actually a meticulously constructed digital approach, as you now know.
Embrace Facebook Remarketing’s Power
So, are you ready to leverage the power of social advertising like this? The results of running your own Facebook retargeting strategy will speak for itself. Conversions are likely to increase, especially if you optimize your campaign as you go.
While Facebook retargeting is a crucial element of the advertising process, it isn’t sufficient in and of itself. You must also ensure that your commercials are fascinating, engaging, and offer the correct incentives to your target demographic in addition to using this strategy.
That’s where an experienced marketing team like WhizFortune comes in—the web sorcerers who can perform spells and bring in clients for you. We’re here to answer any questions you may have, whether it’s about Facebook ad standards or Google vs. Facebook advertisements. Visit us today to learn more about social advertising.
WhizFortune is a cutting-edge, nationally known digital marketing firm committed to elevating your company through unique marketing solutions, custom strategies, channel expertise, and faultless execution. Digital marketing solutions that solve your most difficult internet marketing problems. With a single team of digital marketing experts, you can cross everything off your digital marketing to-do list, break through your growth plateau, and achieve significant ROI.
- eMarketer. For Social Media Marketers, Facebook Produces the Best ROI. https://www.emarketer.com/Article/Social-Media-Marketers-Facebook-Produces-Best-ROI/1013918
- HubSpot. 5 Ways to Nurture Leads Through the Sales Process, eCommerce Style. https://blog.hubspot.com/insiders/lead-nurturing-tips
- Software Advice. 5 Lessons Learned in Site Retargeting. https://www.softwareadvice.com/resources/5-lessons-learned-site-retargeting/