As a marketer, there is only one thing on my mind — ROI (return on investment). Every test, tweak, and tactic I deploy is to make that percentage higher. We can increase Facebook Ad ROI in two ways:
A) Decreasing the cost of our ad spend.
B) Increasing the return on our ads.
Preferably, we do both.
In the past year, as I’ve explored more and more ways to increase my ROI, I’ve begun to use Facebook retargeting. Its ability to hone in on people who are most likely to buy certain products makes my ad campaigns more efficient than ever. I’m paying less in ad spend than ever before, andI’m getting significantly better returns than ever before.
However, in order to get these great benefits, it’s crucial to know the best practices for implementing retargeting. I’ve learned a lot of strategies and tips from using retargeting on several promotion campaigns and in this article, I’ll share those as well as give you an overview about the nature of retargeting.
I find that I do a better job when I approach my trade not as a business owner, but as an investor. I think in terms of investment and return. It’s a subtle difference, but often times it can mean the difference between a perceived success and a failure. For example, I was recently promoting a high-end, $10,000, 2-day live event. Although I am not privy to share the exact numbers from this event (client confidentiality), for the sake of the example let’s assume some very conservative results. Let’s say that my campaign resulted in only six total sales. From a business owner’s perspective, that might appear to be a failure — only six sales for an event that can host at least 200 people. But from the perspective of an investor, if I spent $2736.48 to acquire those six sales and they resulted in $60,000 in revenue, then the campaign was a total success. The ROI was 2,122.2%. Pretty darn good if you ask me.
So with that in mind, I am always looking for ways to increase the ROI of my marketing campaigns. Although many factors contribute to such an increase, today I want to share with you one that moves the needle significantly. It’s something that every advertiser/marketer should take advantage of.
Even if you don’t know what the actual term means, I’m sure you’ve experienced it.
It goes something like this. You’re on Amazon looking at a pair of sneakers and decide NOT to buy them at that time. You continue through your day, and all of a sudden as you’re reading Huffington Post or browsing through the latest tear-jerker video on Upworthy, you notice a banner with the exact same shoes you were looking at earlier, following you around the internet. It feels as though you’re being digitally stalked — and you almost are. This is retargeting.
My experience with retargeting in the past year has been nothing but positive. It’s reduced my overall ad cost and it’s had the highest ROI of any type of ad that I run. In fact, I’ve started using retargeting on every campaign I run. In this article, I’ll share with you how retargeting works, how to set it up, who to retarget, what to offer, the benefits of retargeting, and my own specific tactics. All of this will be laced with actual examples and case studies of how it’s worked for me.
Just to clarify, in this article I will be speaking exclusively of retargeting within Facebook (using Facebook’s internal Retargeting Capabilities).
It’s actually quite simple. When you set up retargeting, Facebook will provide you with a tracking pixel (a snippet of code) that will need to be installed on the specific page you want to track. Now, every time someone lands on and views that particular page (while being logged into Facebook), Facebook will drop a ‘cookie’ on their browser (to identify they were there) and build a list of all those people. You now have the capability to direct a specific ad toward people who have landed on that page.
Pretty sweet, right?
But first things first — you’ll have to set it up.
Log into your Facebook Ad Manager.
On the left hand side, select “Audiences”.
On the top of the right hand side, click the green button that says “Create Audience.”
Select “Custom Audience.”
Choose “Custom Audience from your Website.”
Agree to the Terms and Conditions and Select “Create Audience.”
Name the Audience (i.e. “People who have viewed X Lander”).
Under Website traffic, select “People who visit specific web pages” (I always choose this option and will tell you why in a second).
Enter the URL of the site that you’d like to track.
Select the number of days you want Facebook to track that visitor for (from 1-180)
Click “Create Audience.”
This will create the audience in your Ads Manager.
Install the pixel on your site.
When you hover over the audience with your mouse you’ll see a couple of options.
Select the first one (Pixel Details).
You’ll now see the pixel code in a display box.
Copy this code and install it on the appropriate page you are looking to track.
Now that you have created that audience, as people start viewing that page, Facebook will automatically add them to the audience. When creating your next ad, you’ll be allowed to choose it as a “Custom Audience.”
Most marketers put a retargeting pixel on their product pages and retarget visitors with the same items. This is a great, proven strategy, but it only scratches the surface of the potential of retargeting.
Since I work primarily with high-end coaches and consultants offering services/programs in the $5,000-$25,000 range, we never promote the program itself through the Facebook Ad. Instead, the ad is designed to capture a lead, which will put the viewer into a “funnel” that usually leads to an application followed by an actual enrollment phone call.
The funnel looks something like this:
The Facebook Ad directs a visitor to a Lead Capture Page (usually some good content), followed by even more content, eventually offering a personalized phone call after an application is complete. So, back to the question of “who” I’d like to retarget? The answer is everyone at each stage of the process.
Whenever I’m working with funnels, I put a separate retargeting pixel on every single page in the process. This way, if someone comes to the Lead Capture Page but doesn’t opt-in, I can drop an ad to that person reminding him or her of the value of the lead magnet as well as a reminder to opt-in. If someone opts-in but doesn’t apply for a call, guess what type of ad I’m going to show that person? One that builds value around the call and reminds that person to apply right away.
Here is another type of retargeting ad for someone who saw an event page but didn’t buy a ticket yet.
You would run an ad like that by using the Custom Audiences and the Excluded Audiences within the Ads Manager. In the example above, the goal was to remind people who saw the event page and didn’t buy a ticket to sign up for the event. As you can see below, we used the Custom Audience “Those Who Viewed The Page” and excluded “Those Who Purchased A Ticket.”
These kinds of ads show why it’s important to have re-targeting pixels on every page of the funnel. It allows you to do some very specific targeting.
So what about a person who clicked on your ad but didn’t opt-in? Is this a hopeless case? It would have been if you didn’t have retargeting set up on your Lead Capture page. But because you set that up, guess what you can do? On top of delivering ads reminding that person to opt-in, why not send him or her straight to the next stage in your funnel? In fact, using Facebook Ads, you can distribute all of your marketing content that you would normally only deliver to new leads. I use this tactic in all of my campaigns. In other words, those that haven’t opted in will see retargeting ads reminding them to opt-in and see ads that take them through the funnel content. The people who have opted in will also see ads walking them through the funnel, along with the emails they’re already receiving. Let’s face it — email open rates are at an all time low. Having an ad that reinforces the email content could get a great response — maybe even better than the email. By stacking the communication pieces, you are creating more engagement and a higher probability that someone will take your desired action. This brings us to the next point.
For the sake of your time, I’ll simply list various options that you can apply to your own situation.
A) A Reminder.
As I mentioned above, a simple reminder to take a desired action might be all the prospect needs to take that action.
B) A time-sensitive discount on the original product.
Imagine that you’re browsing for a pair of shoes that you really want and don’t end up buying them. Then, later in the day, you see an ad offering the exact pair of shoes you were looking at with a 20% discount for today only. The chances of you buying those shoes rise dramatically.
C) Further marketing/value based content, or more steps in your sales funnel.
By offering more content, you are exhibiting your branding and creating engagement, authority, credibility, and top-of-mind-ness.
D) Similar offers.
So maybe someone isn’t interested in your ice cream maker, but he or she might be interested in your ice cream recipes. If you put a similar offer in front of that person who you already know is interested in a type of product/service, you could get a better response. Whether it’s your own supplementary product or an affiliate product, the sky is the limit as to what you can “cross-offer.”
Here’s the beautiful thing about Facebook: most people stay logged in when they browse the internet. From a marketing point of view, there’s a ton of potential here.
One of my clients in the real estate market is running ads on the Google AdWords network. The company finds that reaching their target prospects is easier when using keyword search terms. We set up Facebook retargeting pixels on his landing page. Here’s where the magic happens. Now, when someone clicks on his Google AdWords ad and hits his landing page, Facebook installs the tracking pixel. The next time that visitor is on Facebook scrolling through his or her News Feed, guess what’s going to show up? That’s right — an ad retargeting them from the Google Lander.
What does this mean for my client?
A) His expensive advertising dollar will go much further since it doesn’t end with the simple landing page that he is driving people to using his AdWords ad.
B) He is “stacking” his presence. It’s one thing to retarget on the same platform as the original ad, but it’s that much more impactful when the retargeting takes place on another platform.
C) He’ll be able to follow up on his email sequence using Facebook Ads, whether or not someone opts-in to his offer.
This can work with any advertising platform, or any other page for that matter.
If you’re running an email promotion to an in-house list, a Solo Ad, a banner ad, or even a blog post, drop a retargeting pixel on everything you can. This presents you with amazing potential for how you can reach already interested prospects. The benefits and potential of properly and creatively used Facebook Retargeting ads are endless. You can follow your user, you can brand faster, you’ll increase your revenue through follow up, and you’ll maximize the value of your traffic. If retargeting isn’t part of your advertising arsenal already, I would highly suggest implementing it immediately.
Have you had experience with retargeting? Has it helped your business convert more sales and extend the effect of your advertising dollars? Let me know by commenting below! If you liked this article, please share it with your friends on Facebook and Twitter and subscribe to receive more great marketing content.