You may not know what Facebook retargeting is, but you certainly have seen it before. After recently browsing for a new swimsuit on an eCommerce website, you notice an ad on Facebook for the exact swimsuit you were looking at. This may seem like witchcraft, but this is a prime example of Facebook retargeting. With a properly installed Facebook Pixel, you can start targeting your ads to your customers.
You can see our previous post to learn more about Facebook Pixel, but simply put it is a piece of code that is attached on your website. With the code installed, you can now use Facebook retargeting to target the people that have already visited your website. Now why would you want to use Facebook retargeting? One simple reason, it’s effective. According to Wishpond, 72% of online shoppers (on average) will abandon their cart before checkout. Without retargeting, only 8% of these customers will return to complete their purchase. Businesses often spend huge sums of money on people that they don’t even know. With Facebook retargeting, you will see a much improved click through and conversion rate with your products.
With Facebook retargeting you can show ads to the right customer. Like you heard from Wishpond, you will often have a customer who viewed your website and put the item in their cart, but for whatever reason making that last step to purchase just didn’t happen. Maybe it was just too expensive or they didn’t have time to finish the purchase. Whatever the reason, a Facebook retargeted ad is a nice reminder of this product and is often enough of a push to have them make that final purchase.
Only for Big Companies?
After seeing your Amazon searches show up as an ad on your Facebook feed, you may believe that retargeting is only for large enterprises. With a large or small budget, you can see a large ROI and dramatically expand your online visibility and appear as big as your biggest competitor. Since these people have already viewed your website, you already know that they have an interest in your product or business. This is just another way to get them to come back and finish that sale process.
It Only Works for Retail – Wrong!
Looking at this way of marketing, it may seem like an option only for retail. But don’t think of it just as a way to sell a physical product. With the power of the Facebook pixel you can start targeting ads to the right people. There is a reason that someone visited and explored your site. If you look at a purchase funnel, this customer is already past the first step and that’s how you should look at it. Don’t bring awareness to your company with your ad, but sell them something of value from your business. It may be a free trial or an email to add to your newsletter list. Whatever it is, you already know that this viewer has “visited” your business and is that much closer to making a purchase.
The more leads that your Facebook Pixel captures, the smarter it becomes. It will learn more about you customer and make advertising easier. You will now not only be able to retarget your ads to previous viewers, but Facebook will start advertising to the customer that is most likely to convert. So that can be either a person that has viewed your site or a lookalike audience that can be created based on your current customers. Adding the coding may seem like a daunting task, but once that it is installed you can really start to market effectively.
Roundpeg is a social media marketing company that can help set up your retargeted ads and start increasing your ROI.