If you are hoping to utilize Facebook advertising to maximize your site’s ROI, there are some general guidelines you are going to want to be aware of. Luckily, you have absolutely come to the right place.
In this post, we are going to go over one of the most profitable types of advertising is Facebook retargeting. Before going over what makes Facebook retargeting so effective and valuable, it is important to know some of the most common terms related to this kind of online advertising.
What is Facebook retargeting?
This is certainly something you are going to want to understand before you get into Facebook retargeting. In a way, you can think about retargeting as a form of double-dipping.
What this essentially means is that retargeting operates within the belief that if something worked once, chances are good it is going to work even better the second time.
Think of it like a puzzle piece. If you have had success making a puzzle once, you can be sure that the last piece you need to finish the puzzle the first time is going to work in the same way the second time. With Facebook retargeting, the puzzle as a whole is your potential customer and the puzzle piece is the product that that almost customer left in their shopping cart once visiting your site.
As an advertiser, you can think of yourself as the person trying to put the puzzle together.
Analogies aside, Facebook retargeting ads are a highly effective form of targeting demographics that are quite likely to actually convert and become customers on your site.
How does it work on Facebook?
While you won’t have to concern yourself with this side of the process, it does help to learn that retargeting all starts with a snippet of code called the Facebook pixel. Advertisers use this code and embed it on their site. This code then allows the advertiser (that’s you) to track Facebook users who visit their site.
This small piece of code is quite powerful. It’s a literal gateway to information that will help you in more ways than one. These are the following bits of information that you will get insight into:
- Which pages on their site Facebook users visit
- Whether or not they purchase a product on the site
- Which buttons they clicks
- If they fill out a form to become a lead
- If they watch a video or interact with other types of valuable media
From there, advertisers can serve their ads to their website visitors on Facebook itself and use the information that they have collected. That is the basic gist of retargeting.
Retargeting or remarketing
As you continue to research retargeting, chances are very good that you will ultimately come into contact with another phrase. That phrase is remarketing. You might be wondering what the difference is between these two terms.
The answer is that they are actually the same thing. Retargeting and remarketing refer to the same general action of serving ads to users who have visited your site.
Perhaps the main issue is that while Facebook refers to this act as retargeting, Google refers to the same thing as remarketing.
How much does Facebook retargeting cost
The cost of starting your own Facebook retargeting campaign depends heavily on a number of different factors. Typically, you can estimate some of these factors. Those you can get a decent idea of including the size of your audience as well as your site’s conversion rate. That information you can find right inside your Facebook Ads account.
Another important factor to consider includes the quality of your ad content. The answer to this question will remain unknown to you until you start testing your ads. If you are interested in getting a rough budget that is informed by data regarding your ad campaign, there are FB Ad Budget calculators online that you can take advantage of.
Facebook retargeting funnels
Many advertisers will build on what they call “marketing funnels” to support their Facebook Ad campaigns and improve upon them. These funnels rely on a series of sales pages and follow-up emails to potential leads to encourage those leads that clicked on an ad to take revisit the site and take action.
There is no doubt that funnels can be taken advantage of in a big way to maximize the value of a site’s advertising campaign. That being said, building one funnel and using it for all over your ad campaigns as an attempt to convert every single lead is not going to render a great experience for a user. In fact, it might actually end up deterring engagement as potential leads opt to unsubscribe from your site and content entirely.
For that reason, one of the more successful forms of ad funneling is to approach retargeting ads based on the level of awareness and engagement that you are experiencing from your users. Using this language, you can look at an audience’s path from being fully unaware, to becoming fully aware customers.
Segmenting your audience in terms of how aware they are of your product in regards to a retargeting ad campaign will help you better decide where to put the vast majority of your time and money.
Here are the ascending levels of awareness:
- Unaware: The unaware category is the hardest to reach. This group does not know anything about your brand, product or services. Because of that, it is unlikely that they will take action regardless of any one ad engagement.
- Aware of potential solutions: The next group of audience members who are less costly to target and most likely to convert are those that are unaware of your product, but aware of the services or solutions you offer. It’s much easier to re-engage with someone who has been to your site because they are actively looking to find a solution to an issue they are facing.
- Aware of your product or services: When it comes to the most aware members of your audience, there are users who have visited your site and have even taken a look at your products. Perhaps they have even gone so far as to add products to purchase in a shopping cart but abandoned the site before purchasing for one reason or another. This is a great user to engage. Sometimes, getting these highly aware users to convert is a simple nudge or reminder in your ad.
If you are just getting started with your retargeting campaign, you do not need to build out an elaborate marketing funnel to experience early success. Instead, consider going after the lowest hanging fruit first.
Build out retargeting audiences by working backward from top to bottom. First, target your most aware audience members. After that, continue to build out advertising campaigns for the next more aware audience that you can target.
Finally, the last bit of information that you should absolutely keep with you is this simple rule. Awareness of your site and your products will ultimately lead to trust. That trust will ultimately lead to a higher chance of action. Your most aware audience members will be your most trustworthy ones. Therefore, they will also be your most likely to convert.