What is the best Facebook ads retargeting strategy?
The best Facebook retargeting strategy is as follows: the retargeting must be primarily aimed at audiences who have already interacted with your ads or website. Through long-term continuous repetitive advertising, enhance their loyalty to your brand so as to achieve the purpose of second or even multiple conversions.
Retargeting is a great way to leverage your campaign data, which you bought with real money from Facebook, and is the most effective way to maximize your ROI.
Why do you need to know the best Facebook retargeting strategies?
First, retargeting improves the effectiveness of other traffic sources and strengthens your brand. Cold traffic campaigns are difficult for conversions because people don’t know anything about your product or website. In other words, they subconsciously don’t trust you. Besides, your offer may not be strong enough, the product is not good enough, resulting in easy-to-lose traffic. However, when you acknowledge the best Facebook retargeting strategies, you can increase those ads’ ROI, sometimes by a large margin. You can help strengthen your brand by reminding people of your company.
Second, 91% (Statista) of transaction-generating Facebook ads are achieved on mobile devices, where transactions can be quickly interrupted, such as from a sudden phone call, the line finally ends in front of the coffee shop counter, or you finally get called at the DMV… People might be browsing your website, and then they’ll interrupt the transaction and leave everything behind. The information on the internet is vast and complex. Unless your advertising is creative and surprising, the product is relatively new; otherwise, it is difficult to seize the audience’s attention with a one-time impression.
Last, retargeting is a cost-effective way to get customers. Because you are targeting people who have already shown interest in your product or service, retargeting advertising usually has a high ROI. Retargeting is a way of imprinting a brand image into the audience’s mind by repeating similar scenes or helping to wake up an interrupted memory and prompt them to complete an unfinished transaction.
The best Facebook retargeting strategy
Retargeting is mainly accomplished by creating dynamic audiences.
You can set 5 types of custom audiences with a total of 55 varieties on FaceBook. After these custom audiences are created, the list will be automatically updated to ensure the data’s real-time accuracy.
Long-term retargeting should be thought of as a dynamic process: consistently attracting the audience to your conversion funnel and gradually converting it to the bottom of your conversion funnel. (The bottom of the funnel is the closest to completing a transaction.)
Therefore, the retargeting audience can create a separate custom audience according to their location of the funnel. For example, Video Viewer, Web Visitor, Add To Cart, Initiate Checkout, Purchase, etc.
Most purchase conversions take place within 3 or 4 days of visiting your website, so retargeting within this window should offer the best offers. Second, a conversion window of 5-8 days and 9-12 days can be set so that the offer’s value can be gradually reduced, such as promoting products with relatively low prices and lowering the conversion threshold.
The length of the conversion window is not deterministic.
The closer you get to the bottom of the funnel, the smaller the audience’s size will be. We need to extend the conversion window to ensure adequate audience targets, such as target Web Visitors within seven days, ATC within 14 days, Initiate Checkout within 28 days, etc. It depends on your audience size. If the audience within the conversion window is too small, you need to increase your budget.
The seasonal promotion is mainly based on various festivals and special themes, such as Christmas, Black Friday, the anniversary of a brand, a new product launch, etc.
The audiences of seasonal and long-term retargeting campaigns cannot cover each other, but they can complement each other. Seasonal promotions should eliminate the long-term retargeting audience. Those who gradually fall out of the retargeting time window have a low willingness to convert, but they are not completely cold traffic. We can add them to our seasonal retargeting list and give them a big deal every holiday. It might have a significant effect. At this moment, consumers’ purchase intention is strong, and the retargeting audience already has an impression of your brand. If you launch the right deal, it will be easy to facilitate the transformation.
Types of advertising
For different audiences, the types of advertising also need to be adjusted accordingly.
Take video ads as an example. Those who watch most of the videos but do not visit the website have a little interest and are not entirely interested, indicating that the promoted product is not attractive enough. When you are retargeting next time, you need to change the product or improve your advertising ideas.
Those who have already added to the cart but have not checked out may balk at the price. And your retargeting ad needs to offer a more significant discount(s).
If you still fail to impress them, it may be that the perception of your website security is not convincing enough. So you need to consider the website’s social proof, such as adding product reviews or emphasizing free return in the advertisement, such as unconditional refund if you are not satisfied with the products. You can use tools to analyze audience behavior on your site to determine which factors affect conversion.
For those who have already purchased the product, we don’t recommend retargeting them right away! You should wait about five days or a week and then retargeting. They’ll be like, “Wow! New product launches “.
Mistakes you need to avoid
1 – Lack of Budget input
Unlike PPE, the purpose of retargeting campaigns is generally conversion. Targeting these potential customers carries a high price tag, so if you have a lower budget, you may not be able to bid for these ad spaces, affecting the advertising effect.
2 – No patience
Retargeting is a long-term process that gradually helps build trust in your product and your website. A lead may need to visit a website several times before deciding to convert.
Targeting strategies are essential for retargeting. Adjusting to the audience’s response accordingly to continually optimize their advertising experience while patiently accumulating data; gradually getting closer to the target customers requires patience. But the reward is worth it.
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