Most visitors to your site don’t make a purchase. It’s sad but true.
As you probably know, there’s a tactic that can help you wring the last drop of conversions from your site.
What’s the potential?
- The rate of cart abandonment is high. Almost 72% of shoppers will abandon carts.
- If retargeting isn’t employed only 8% of these shoppers will return to the checkout.
- Click through rate for display ads is a dismal 0.07%. For retargeted ads the CTR is 0.7%. Retargeting ads improves the likelihood of conversions by 70%
- 46% of marketers feel that retargeting is the most underused strategy for boosting conversions.
In this post we will be focusing on retargeting through Facebook.
And why Facebook?
Facebook, despite all the negative press it has been garnering is without a doubt the biggest social media platform there is and offers a massive slew of opportunities for anyone to find and engage a massive following.
Here is the hard data:
- Facebook has over 2.01 billion monthly active users.
- 79% of Americans use Facebook and 53% of them use the site several times a day.
- Every minute 400 new people sign up for it.
Because of the level of targeting you’re able to achieve, you can drill down to precisely the right people who’re most likely to take the desired action.
Users see what they’re interested in seeing and showing relevant ads is an integral part of the Facebook algorithm.
As an advertiser, Facebook allows you to identify an objective for your campaign, then puts your ad in front of the right segment of its users.
To gain more clarity, For example, Facebook allows you to target by:
- Age of the audience
- Geographic Location
- How they have interacted with your site (i.e. retargeting)
And many more parameters.
If you’re running a business you’re probably driving traffic to it through advertisements. Most businesses target people on a hope and prayer.
But you’re missing a boatload of money by not targeting people who have already seen your brand and are familiar with you.
But why does retargeting work in the first place?
People are forgetful. The necessities of life and the distractions of the online world are enough to pry away users from your website.
Think of a customer who has landed on your site from a high intent search keyword. He likes the product but decides to purchase later. Evening comes, there’s a football match on, and in the excitement, he forgets everything about the store.
Would you rather wait for him to come back which could be months down the road or never? Or show him an ad the very next day and get the purchase sealed?
There may be other reasons too for abandoning the visit. For example, shopping cart abandonment often happens either due to high price or high shipping rates.
Imagine getting a coupon the next day that takes shipping to zero or offers a sizeable discount on the product.
A personalized ad with the right messaging can bring back a lot of those abandoned-carters.
Let’s see how to create a retargeting ad
- You should be logged into your Facebook Account
- Go to Facebook ads and click on Ads Manager at the top left corner.
- From the two options available click on Audiences.
2. Next click on Custom Audience
3. Select your target audience from the drop-down menu
In the next screen you will be able to choose and narrow down to a particular audience from the list of audiences available:
For example, you could upload a customer file, website traffic or app activity.
Let’s choose website traffic.
- People who visit your website, any page
- People visiting specific pages
- People who are returning after some time
- Just one specific page
And there you have it! A retargeting ad.
Now, obviously, there’s a lot more to it than this. If you need help with Facebook retargeting, that’s what we do here at Right Hook – let’s talk.
How powerful is Facebook retargeting?
Mazda Case Study
Mazda wanted to get more people to test drive their cars. To that end, they hired a retargeting specialist to get more people visiting their dealerships with ads.
Visitors seeing the retargeting ad converted at 53% higher than the ones not seeing the ad.
Car sales through their retargeting ad were 98% higher than the offline average.
They had an engagement rate of almost 20% from their ads.
They were able to get higher than average ROI because the company they hired used targeted ads based on customer geography to show them ads for Mazda dealerships closest to where they lived. Boom.
WatchFinder UK Case Study
WatchFinder is UK’s biggest online watch site and wanted to increase sales.
With retargeting ads, they were able to achieve a much greater ROI.
- In just 6 months, they achieved an ROI of 1,300% (for every dollar spent, they were getting $13 back).
- Their average order value (AOV) increased by 13%
- With that, the Cost per Acquisition lowered to 34% less than other campaigns they were running.
Defining audiences by the spot they were in the funnel, location and site behaviour, they were able to retarget them with highly personalized adverts.
You probably already know about the power of retargeting ads. You have seen how powerful these ads are through the case studies mentioned above and the vast customer base that Facebook gives you.
Stop reading and start acting now. Nothing’s easier than converting people who already know you. Do you know of any other case studies based on retargeting ads? If so do let us know through the comment section below.
Here at Right Hook Digital, we partner with businesses to drive their business outcomes and high ROI. Our time-tested process flows through the steps of Brand Awareness, Nurturing the Relationship, Conversion, to Loyalty and Retention. Our services include:
- Growth Strategy
- Facebook Advertising
- Google PPC
- Conversion Rate Optimization
Book your free strategy call with Right Hook Digital today by clicking here.