My amazing aunt, who is “technologically challenged,” told me about the Rothys flats she found online that followed her around the internet. “It was so weird. I saw them on Facebook three times in the last two weeks so I ordered them. I figured it must’ve been fate,” she said.
I didn’t have the heart to tell her that it was not fate, it was retargeting (also known as remarketing). Odds, you’ve also been a “victim” of retargeting influencing your decision-making. Most people become aware of this tactic after visiting sites like Amazon, Wayfair, and other big retailers and all of a sudden being stalked by whatever product you were viewing on the site as you scroll through your Facebook newsfeed.
I’ll admit it, businesses have gotten me to take action many times using this tactic.In fact, it’s embarrassing how many bracelets I have from 4Ocean and how much gear I have from Peloton due to their smart and aggressive retargeting strategies (interesting fact – I was also introduced to both businesses initally through Facebook advertising).
In fact, I’m currently getting Peloton retargeting ads in my Facebook feed.
And the benefits of Facebook retargeting aren’t only limited to products.
The only businesses I can think of who probably wouldn’t benefit much from Facebook retargeting are ones who offer only emergency services like damage restoration and emergency plumbers.
So, you might be wondering “why should I use Facebook retargeting?”
Just think about it like the dating pool. You’d be more comfortable going on a second date with someone you’ve already had a pleasant evening with, rather than a blind date which is much more intimidating, and the chances of flaking are higher.
The same goes for advertising. If someone has already visited your site the chances of them interacting with your ad and purchasing from your brand are much higher than if they saw your brand for the first time.
FUN FACT: website visitors targeted with a display ad are 70% more likely to convert.
What’s your website conversion rate?
The average website conversion rate across all non-ecommerce websites is 2.35% with the top 10% of websites having a conversion rate of 11.45%. This means even if you are in the top 10% about 90% of your website visitors aren’t converting.
More often than not, your website isn’t the cause of the low conversion rate. Typically it’s due to the way people make decisions, the length of time it takes a person to make a decision and the multiple points along the way that influence their decision making.
CUSTOMER BUYING JOURNEY
For example, Think with Google published an article in October 2019 titled Same search terms, different emotions: Anticipate customer needs throughout the journey showcasing Mary’s 64 day journey to purchasing a new SUV. In these 64 days, Mary had over 200 touchpoints.
Even if you are not a car dealership, odds are the people who are finding your business have similar journeys and a similar amount of touchpoints that influence their decision making. In a separate Think with Google article titled How intent is redefining the marketing funnel they showcased 4 sample customer journeys to illustrate that no two journeys are alike and the number of touchpoints for each journey.
- Jill’s makeup journey: over 125 touchpoints
- Justin’s headphone journey: over 375 touchpoints
- Ava’s flight journey: over 500 touchpoints
- Sarah’s candy journey: over 20 touchpoints
Sarah’s journey is particularly noteworthy. If consumers need 20 touchpoints to make a decision on candy then it’s extremely likely that your customers/patients have at least that many.
Benefits of Facebook Retargeting
Facebook retargeting is one of the most powerful marketing tools available. And it is an easy, convenient and cost-effective way to improve your website conversion rate and ultimately generate more leads for your business.
Here’s a few more reasons to invest in this strategy:
- Your ads appear where customers are. Over 1 billion people spend time on Facebook each day with many of them checking the site multiple times throughout the day. Advertising on Facebook pretty much ensures you will get back in front of your website visitors.
- Your ads appear where customers are looking. Most Facebook ads appear in the newsfeed which is where people are already looking which makes them extremely likely to see your ad.
- Facebook visitors are already engaging with posts. People on Facebook are already engaging with posts from friends and family which make them more likely to engage with your post.
- They raise awareness of your business. Most people take time to make decisions. Facebook retargeting helps your business stay top of mind and if you include like-a-like audience targeting in your strategy they can also increase awareness for your business with people who are similar to current website visitors.
- It raises perception of your business. When people see your ad on their newsfeed perceive that your brand is large and has a large following especially since currently and historically it is large companies like Amazon, Wayfair, Michael Kors, Hyundai, Mercedes that utilize these types of marketing strategies.
- You’re targeting warm leads in a place they will notice you. Remind site visitors of a business they are already familiar with. This soft reminder might be all they need to return to your website and contact your business.
- You can market to look-a-like audiences. With retargeting you can also target Facebook users who have similar interests to your current audience and customers. This helps ensure you reach an audience that has a higher potential of showing interest in your business.
- Visitors can see your ad multiple times. It often takes multiple views before someone engages with your offer. Place your message back in front of them where they can make a decision.
- It helps build trust for your business.
HOW IT WORKS.
Facebook retargeting works like this: someone interacts with your brand online. That person doesn’t convert immediately and then goes back to surfing cyberspace.
Later on, that same individual logs onto Facebook and sees an ad promoting one of your products or services. That’s a reinforcement of your marketing message and it’s going to increase the likelihood of conversion.
BOTTOM LINE.
If you skip retargeting you could be letting a lot of big fish get away. And for most businesses, this doesn’t require a large monthly investment and has the potential to drive a very profitable ROI.
Have questions about how Facebook retargeting can help your business? Leave a comment below and let’s talk. Or get in touch via the Contact form.