Facebook Retargeting For Multiplying Your Sales
Have you ever noticed that after visiting an online store, you sometimes see the same store’s ads in your Facebook feed? This is no coincidence - what you are seeing is a retargeting ad.
Facebook retargeting (also referred to as remarketing) is strategic marketing designed for people that have already visited your ecommerce site.
There are various ways to use this powerful tool:
- To attract visitors back that left the site and never converted
- To create upsell or cross-sell opportunities for those who have purchased your products
- To bring back potential customers that have abandoned their shopping carts for any reason
This article will describe why this tool is so effective, and provide a complete guide on how to set up a retargeting campaign for your online store.
Why Retargeting Is So Powerful
The first thing to understand is why Facebook retargeting ads are so effective.
There are multiple reasons:
- It takes around 12 touch points with a customer to convert - In the competitive online marketing world of 2020, it takes an average of 12 times for a potential customer to view an ad, visit your website, or engage with you before they make a purchase.
- Remarketing ads are 70% more likely to convert - This is thanks to enhanced exposure which enables your visitors to learn more about your store and products.
- You can customize your ads - When someone has visited your site and seen your products, you will be able to tailor your ads accordingly by showing them relevant products.
An added bonus: you have unlimited access to appear in a visitor’s Facebook feed once they have visited your website and accepted the terms and conditions that make retargeting possible. This presents a long-term and focused marketing campaign that simply would not be possible using other strategies.
How To Set It Up
Below you will find the steps of starting your very own campaign.
It all starts with installing Facebook Pixel. This is a small piece of code that enables you to track and monitor your visitor’s behavior on your website.
To create a Pixel, you need to carry out the following steps:
- Facebook Business Manager > Events Manager > Pixels
- Click “Create a Pixel”
- Install your Pixel by either copy-pasting the code to your site, or by sending the code to your developer by using an automatic email
“Events” are triggers that occur on your website, based on your visitors’ behavior, such as searching for a product or adding it to a cart.
Here are the steps for setting up events:
- Go to the Facebook Business Manager > Events Manager > Pixels
- Click “Set Up Pixel”
- Select “Manually Install Code” > Install Events
- Now you can choose the events that are important to you based on the list provided. For ecommerce, some recommended options are “Add to Cart”, “Contact” and “Add to Wishlist”
Once your Pixel is set up, the next step is to select your custom audience.
You can create your audience according to:
- Existing customers
- Your email list
- Visitors that abandoned their cart
Creating Your Campaign
Once the Pixel has been set up and the audience selected, you are ready to create your product ad.
It is recommended that you use a Dynamic Product Ad which is automatically generated from your product catalog data.
Here are the steps:
- Upload Your Product Catalog by going to your Business Manager account > Product Catalogs
- Select “Add New Product Catalog” > “Create New Product Catalog”
- Add your product feed by uploading a CSV file
- The next step is to select “Recurring Uploads” if you wish your feed to be updated automatically from Dropbox or Google Drive.
Pricing and Optimization
Facebook advertising is based on a bidding system.
You can decide the bids yourself, or let Facebook decide how much you pay for conversions - within your predefined objectives and daily budget.
The cost of clicks can vary wildly, anywhere from $0.70 to $10 per click, but the average for ecommerce is around $1.72.
The key to success is being able to analyze a campaign and determine whether it has been successful.
There are a few metrics to pay attention to when analyzing your campaign results:
- Ad impressions - How many times your ad was viewed
- Ad Frequency - How often your ad was viewed on average, by an individual
- Clicks - The number of times viewers clicked on your ad
- Click-Through Rates (CTR) - The percentage of people who click an ad, out of all the people who saw it
- Cost Per Click (CPC) - How much you are paying for each click
It is recommended to wait for at least 500 impressions to get an understanding of how your campaign has performed.
A successful campaign will generate many clicks and have a high CTR.
- If your results were successful, you should scale up your budget.
- If your results were unsuccessful, it is recommended to review images, copy and placement of ads.
Facebook remarketing ads are a highly effective way of keeping your visitors and customers in the loop about your online store and products.
Setting it up takes a little bit of time and technical knowledge, but it can be done by following the steps above.
The most important things to remember are:
- Selecting the right audience for your campaigns
- Choosing correct images and creating powerful copy
- Monitoring results closely to improve your ads, or invest further in those that were successful