In recent years, online consumption sparked like a rocket on high blast. Online consumers have reached ever deeper into the great bazaar of internet space and far away shopping galaxies, and retailers follow close on their tracks. Facebook retargeting is the tracking device.
A recent study uncovered that every year oversees an increase of 70% in Facebook ad clicks, and ad click-through rates are increasing 160%.
Facebook retargeting is a must for advertisers who want to promote their ads to shoppers who have already visited their website or even so much as clicked on one of their products.
Before we dive into understanding how Facebook retargeting works and why it’s useful for retailers, let’s retrace our steps to the beginning of online advertising.
What is retargeting?
Let’s start with the basics. What is Facebook? No, I’m kidding. Although try explaining that, or the Internet, to your grandparents and see how far your own understanding takes you. For now, let’s keep a straight unbaffled face and explore deeper.
Retargeting is one of the many faces of online advertising, a cookie-based technology going back to the beginning of the millennium that tracks down users following the crumbs they left behind after visiting a website.
Why is retargeting useful?
Generally, 2% of shoppers buy into converting to an online store on the first visit. While 98% of users just click on a website, look around, check the price tags and leave without so much as a good day to you. Retargeting converts window-shoppers into buyers.
It uses a snippet of code that allows the ad networks to serve future ads to the customer who’s been tagged on his last visit. It increases brand awareness and the investment proves to be highly profitable. For every dollar you put into it, you get ten times as much in return. Those are some pretty good odds, and Facebook is fishing for better ones. Of all social platforms, Facebook delivers targeting options worth considering.
Facebook retargeting for Custom Audiences
From awareness to purchase, retailers can follow the user through a variety of Facebook retargeting options. We’ll outline a few for you.
A match made in Facebook heaven
Facebook is updating its Custom Audiences capabilities designed to reach people who’ve visited a website or a mobile app. Advertisers can personalize their offers by creating a custom made profiling to suit the audience. Clearly, a match made in heaven.
The following data types are now available to the advertiser:
- Email.
- Date of birth/ Year of birth/ Age/ Gender.
- First name/ Last name.
- Country/ City.
- Postal code.
- Phone number.
- Mobile advertiser ID/ Facebook app user ID.
Prior to this, only one data at a time was supported. Providing more information in order to find the Facebook user who might be interested in what you have to offer proved to be a boost to business. It recently took a client’s match rate from 50% to 80%.
It all depends on how comfortable you feel with dispensing all this personal information on a social platform.
Shopping is mobile
People spend more than half their Internet time on mobile and in apps. Whether they’re doing travel research, purchasing, discovering or simply browsing, internauts unknowingly set the trend and the latest advertising strategies of any business. Supply always comes close on the heels of demand.
Bearing that in mind, the new Facebook retargeting methods for Custom Audiences include:
- Frequency: how many times someone visited a page.
- Time spent: how much time someone spends exploring a page.
- Dynamic date: a range of things someone has shown interest in, such as a hotel reservation.
- Aggregated values: the total amount a person has spent.
- Devices: including, but not limited to, Android devices, iOS devices, desktop.
There’s empowerment in knowing your target’s options!
The ring of engagement in Facebook retargeting
A new feature of the new campaign in Facebook retargeting is engagement. This allows you to create Custom Audiences based on user engagement with your videos and lead ads.
For video watching:
Even a second of video watching is priceless. Think of it as first eye contact. Once intent is firmly planted, there’s ground for further developing a relationship.
For lead adds:
Facebook retargeting will create audiences who filled out the form, but missed conversion. Or those who filled out the form for Facebook retargeting efforts. If retailers catch their customers at the right point in the shopping spree and manage to brand them with their products, there is a good chance they will profit.
Facebook retargeting pixel in advanced matching
This advanced feature allows a matching of the customer data- email addresses, phone numbers with other Facebook users. In other words, it’s like following a bee in the hope it will bring you to the hive and ultimately, the honey.
To enable matching on Facebook pixel, you will need to get a little on the technical side. You will need to modify the default Facebook pixel code to capture the customer data. But don’t worry. The Facebook help center is there to increase your match rates and guide you through the dizzying process of conversion tracking.
How to Set Up Facebook Retargeting
Consider this summary guide the first baby steps into Facebook Retargeting. Once you’re over the basic requirements, you’re free to explore on your own the twists and convolutions of the online marketing processes.
- Creating Dynamic Product Adds
Advertisers can apply Facebook retargeting efforts not only to traditional Facebook ads but also to Dynamic Product Ads. Trust me. Anything phrase carrying the Dynamic component is a faster way to the desired destination. This includes:
- Setting up a business manager.
- Organizing a product catalog and uploading it to Business Manager.
- Install Facebook Pixel
Once you’ve completed these steps, you’ll need to install the Facebook pixel. Benefits include:
- Access to rich insights, in which you’re provided with a dashboard which offers info on the inbound/ outbound traffic.
- Sharing your pixel, in which you and your partner, if you have one, can share an existing pixel through Business Manager.
- Create an audience
This Facebook Retargeting option allows advertisers to target people who visit specific pages by adding URL keywords.
- Final step. Create an add
Congratulations! You’ve made it to the final step of Facebook Retargeting! Now you can find new sets of customers similar to your website visitors by putting all the look-a-likes out there to fish them out.
In the end, what is Facebook Retargeting good for?
Facebook retargeting is all about marketing people’s desires. To know them becomes essential. In the end, social advertisers can’t miss a ride on the train to huge potential revenue. Thus, the new Facebook retargeting is yet again, a hit.