The value that existing customers have for a business is undeniable. Implementing an effective retargeting strategy for your business is essential to maintain a relationship with your customers and keep them returning to use your service and repurchase your products. Many brands turn to Google Adwords for this purpose and I personally have witnessed the hesitance of clients using social channels, such as Facebook, for this purpose. But Facebook advertising should not be dismissed immediately and it is worthwhile for your business to test the effectiveness of this channel for your remarketing needs. After all, there are 1.71 billion monthly active users on Facebook so the likelihood of your existing customers being active on this channel is high.
If you already use Facebook for remarketing then here are some tips on how to make the most of it and ensure you are utilising it correctly. However, this article will also be useful for those who have not used Facebook advertising within their remarketing strategy. Below is “how to” get started with Facebook remarketing and how you can make the most of your campaign.
1. Create a custom audience via a Facebook pixel
How this works
You Install the Facebook pixel onto the relevant pages on your website. Facebook then builds an audience of users who have visited your site within a specified period of time. This custom audience becomes available for you to target with both news feed and right hand side ads.
How you can make the most of it
You can filter which ads are delivered to users who view certain pages of your site. For example, you can target Facebook users who have visited the basket page but have not reached the order confirmation page. Using an ad to remind them that they’ve left an item in their basket. Or you could deliver ads to users who have converted on your site, to remind them of your brand and prompt a return visit. If you find that your custom audience of site visitors is very small, this may be caused your website receives a low volume of traffic. Therefore it is recommended that you implement the pixel a few weeks prior to the start date of your campaign, to allow time for the audience size to increase.
2. Uploading a custom audience
How this works
It’s highly likely that you will have captured information from your existing customers, such as e-mail addresses or phone numbers. This may be done via a form on your website that your visitors have completed, in order to make a purchase or to subscribe to your promotional emails. You can upload this information into Facebook ads manager, which then matches your customers to existing Facebook user accounts and builds your custom audience, which you can target anytime with ads. The average match rate is around 60% therefore this may not be suitable if you have a very low volume of customer data.
3. Lookalike Audiences
How this works
You can use this option to reach users who are similar to your existing customer base. You need to select a source, which can either be visitors from your website, the custom audience you have uploaded, or users who have liked your Facebook page. Facebook will then identify users who share similar attributes to your existing customers. You can use the slider to select the audience size you would like to reach but the larger the size of the audience, the less closely matched the lookalike audience will be to your source.
4. Other factors to consider
With Facebook ads you have the ability to overlay your custom audience with the usual targeting options, such as demographics, location and interest. This allows for more highly targeted advertising. For example, you can target your customers who are only located within a particular location and have expressed specific interests.
Excluding your custom audience
A custom audience is not just for targeting. You can make better use of your marketing budget by excluding your existing customers from a campaign, where your objective is to only reach potential new customers.
Customers can interact with your brand on Facebook through commenting, liking and reacting to your news feed ads. It facilitates a two-way dialogue with your customers, which Adwords and email marketing cannot achieve. Customers can also share your news feed ads with their friends. This can increase brand exposure and reaches potential new customers organically, therefore achieving multiple marketing objectives within one remarketing strategy.
The best remarketing strategies are those that reach their customers wherever they may be. Therefore it is necessary to consider how adding Facebook advertising to your remarketing mix can enhance your strategy and your relationship with your customers.
Has Facebook remarketing worked for you or your clients? How has it performed against Adwords remarketing? Let us know in the comments below.