What’s Facebook Retargeting?
Retargeting is rated by marketers as one of the most effective means of advertising according to a study commissioned by AdRoll. So, what is it? Simply put, retargeting serves advertisements to consumers who have already visited your website.
Picture this scenario, a potential customer visits your site, clicks through a couple of pages and just as they’re considering making a purchase or contacting you about one of your services they then get pulled in another direction.
In times past, you might have lost this customer into the ether. However with Facebook retargeting, the moment that user visits your website, the ‘Facebook Pixel’ inserts a cookie into to their browser. Via Facebook you can then advertise your products or services to visitors who have visited your website in the last 30 days.
Those visitors will get a reminder about the product or service and with one click, you’ve just recovered a lost sale or new client.
Clients often ask, why retarget existing customers? Shouldn’t we be looking for new customers and reaping the CRM system benefits? The answer to that is two-fold.
- First, this customer is already engaged. They’ve visited your site before, they’ve clicked around and they’ve shown interest which means your cost to conversion is lower.
- Second, as any marketer knows, repeated exposure is fundamental in ensuring your brand is always top of mind. When over 70% of your customers are doing research online before making a purchase it’s crucial to reach your audience multiple times.
Why Facebook Retargeting?
Okay so we know what retargeting is, but what why not simply use web retargeting? Why Facebook? Web retargeting is something you should definitely be doing alongside Facebook retargeting. However there’s some important reasons you’ll want to focus on Facebook.
- Sheer market size; 61% of Australians are active users on Facebook. Facebook has a userbase larger than Instagram, Twitter and LinkedIn combined making it a one-stop-shop social media platform for advertisements.
- Google is the leader in search, but Facebook is the king of display. Retargeting uses display ads to target customers and Facebook is the biggest platform with 40% of the market.
- Higher click-throughs, lower cost-per-click. Stats show that Facebook retargeting has a cost-per-click 79% lower and a click-through 21 times higher than web retargeting
61% of Australians are active users on Facebook. Facebook has a userbase larger than Instagram, Twitter and LinkedIn combined making it a one-stop-shop social media platform for advertisements.
What do we need to succeed?
While Facebook Retargeting is an essential component of social media strategy, millions of businesses are competing for the attention of audiences with limited time. The market is competitive, so its important to clearly define your ideal market.
In order to succeed, you’ll need time, drive and, in today’s digital landscape, experience.
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