From its origins as a digital yearbook for Ivy League students in 2004, Facebook has indeed come a long way.
For instance, nobody could have envisioned that nearly 20 years later, it would supplant TV as an advertising platform for a fraction of a cost.
From the exclusive enclaves of Harvard–and later Yale and Stanford–today’s Facebook users are estimated to be nearly three billion from all corners of the globe.
Now, businesses may think that the primary purpose of creating a Facebook page is to get as many likes or follows as possible. So, their marketing strategy is designed to achieving this goal.
After that, they no longer have any idea of how to get their followers to take the next step toward dipping into their pockets for their wallets.
The fact is that more than 9 in 10 of your visitors have no intention of buying. It is now up to you to convince them otherwise.
Sure, it is nice to see the number of followers tick up, and you may enjoy bragging rights over their competitors. But your social standing will not impact your profits in the long run unless you do something.
And that is where Facebook Retargeting comes in.
When you are personally managing your Facebook Ads, you may have an idea of who your customers are based on their profiles. But do you know the reason why they visited your website or Facebook page?
You might say because they are paying customers.
How much are you betting that your assumption is correct? Are you willing to wager your company’s fate? Scratch that. You do not need to make that bet because it is essentially what you are doing anyway.
Make sure that the data supports your assumption if you are going to mortgage your future.
How can you convert them into loyal customers rather than one-time customers?
Facebook retargeting is an invaluable tool that will help identify the people who visited your website and then study their data to spot patterns and intent.
You can then use this data to create compelling ads to make them revisit your site and make a purchase.
Facebook Retargeting can help your company in a myriad of ways.
The first step is preparing a list of the prospects you want to target.
Creating the list is quite easy because there are multiple tools you can use, such as analytics, visitor profiles on your website, or your brick-and-mortar store. You can also gather data through your customer relationship management software.
You can prepare your customer list in the following formats before you can upload them on Facebook:
Your custom audience may also be identified by the country/city/state/provide where they are based. The Zip Code may also be entered as an identifier, along with the birth date and gender.
You can launch your retargeting campaign using the Facebook Ads Manager tool.
But first, you need to install the Facebook pixel. It is a small modification to your code, which is a powerful tool to track users and their online behavior after interacting with your brand.
Once they click on your ad, added an item to their cart, or visited your website, you ensnare the customer in your web of omnipresence.
Even if they leave, you can follow the cookie crumbs to easily track them across the Internet.
Everywhere they go, they will be reminded of you, like the one that got away, or perhaps an itch on their back that they could not reach to scratch.
Installing the Facebook pixel is quite straightforward. Before anything else, you need the following elements:
A. Creating a Facebook pixel
B. Add the Pixel
The next step is to add the pixel code into your website’s source code. You can choose to do it manually, use a partner integration, or email the instructions to your website administrator or engineer.
Generally, you only need one pixel across multiple business sites.
But there are times when you need to add multiple pixels, like when there are two separate ads on your website. The marketing agencies may decide to run separate pixels for their ads.
1. Head on to Ad Creation to create your dynamic ad. Make sure to select the audience who already interacted with your services and products on Facebook or other platforms. You can then retarget them first.
2. Next is to select your retargeting option. There are multiple ways to do this.
3. There is an option to identify the number of days where the last audience activity was recorded. Enter your answer.
4. Show Advanced Options if you want to include Lookalike Audiences in your Custom Audience targeting. Lookalike Audience refers to that underserved segment of potential buyers who share similar intent and goals with your existing customers.
The catalog is necessary to create your Dynamic Ads.
The catalog is a repository of all your products that you want to advertise on the platform. Facebook recommends creating a single catalog rather than different inventories to minimize confusion.
If you already have an eCommerce website from Shopify, you can integrate it seamlessly into your campaign. If not, you will have to create your business Catalog.
You click on Commerce Manager to get started.
With retargeting, you can tailor your ad according to the specifications of the customer.
For instance, you can target prospects who visited your website or competitor sites as they browse for products that interested them.
The question is, why did they not convert?
You can then tweak your ad to address the pain points of the customer, making them more likely to buy.
Using Facebook Retargeting, you can increase site visits by over 700%!
The first step is to get them to click on your ad because the same data revealed that the customers are 26% more likely to make a purchase when they do.
After defining the parameters of your Custom Audience, you can then begin to launch your campaign.
Go back to your main business profile page, and move your cursor to the top-right of your screen to select “Create an Ad.”
Simply follow Facebook’s instructions on how to start your campaign, including your budget, your target audience, the frequency of your ad, and the schedule to display your ad.
You also need to outline your marketing objective to give Facebook an idea of your business goals. In this way, it can further hone on the types of customers you want to target.
For instance, eCommerce sites are for-profit organizations. Facebook will target the audience not only for their buying capacity but whether or not they are likely to engage with your business.
As you can see from the options, some websites are not interested solely in profits. They may want to expand their brand reach, generate leads, increase engagement, and traffic.
Facebook is an affordable platform for marketers to display their ads.
You can already advertise for as little as $1.00 a day. In fact, it is recommended that you first low-ball Facebook, especially during the early stages.
The idea is to run analytics to determine which among your ads yield the most ROI. You can then rationalize your future budgets.
For instance, you can optimize your poorly performing ads or abandoning them together to focus on your more successful campaigns.
You need to remember the three primary factors for how Facebook will present your ads to your target audience:
There is a reason why Facebook created the Lowest Cost option, and it is ideal for:
The Lowest Cost It is not the best determinant of the cost per action (CPA) rate, although Facebook claims that it will try to bring you the cheapest cost results.
The final cost will hinge on the bidding activity. The stiffer the competition, the higher the rates.
When launching your Facebook marketing campaign, make sure to create different types of content.
The idea is to test your ad using trial and error.
Different ads may have different outcomes depending on conditions, target audience, and frequency.
You can even take the shotgun approach. Launch simultaneous ads at once and see which one sticks. Analytics will give you a good glimpse of where you are successful and which areas you went wrong.
It is better to target your top prospects and customers first rather than deploy your ad to all your customers. You can get better results this way as your data will have less noise.
Facebook Retargeting is a novel way to advertise to your prospects without being too creepy about it. It is also a more affordable way to get the word out about your brand and direct your prospects to your sales funnel.
More importantly, do not forget A/B testing on all your Facebook ads to reduce guesswork in your future marketing campaigns.