The Power of Facebook Retargeting Strategy

Does Your Marketing Include A Facebook Retargeting Strategy?

Want to hear something scary? 97% of your website visitors will leave and never come back.

Want to learn how to recapture some of those people and get them back to your website?

Join us for today’s post on Facebook retargeting strategy. 

Here’s a fun fact about us: We enjoyed digital marketing, setting up and running ads from the very beginning.

But we fell in love with digital marketing when we figured out how to run our first retargeting campaign and saw the results. Forever fan. 

We want to share the power of retargeting, Facebook retargeting strategy specifically, with you.

That’s because they’re one of the best things about running ads on Facebook and require very little work from you to set up and maintain. 

In today’s post, we’re going to talk about: 

• What retargeting is and why we use it
• Where you’ll set up retargeting for your ads
• Types of retargeting plus ideas for campaigns

Let’s dive in! 

What Is Retargeting?

Retargeting is the process of showing your ad to someone who has engaged with your business in some way.

You can build retargeting audiences from: 

• Website activity info
• App activity info
• Page/Content activity data
• Customer list

Why Won’t Marketers Shut Up About Retargeting?

Well, to start, the average CTR for retargeting ads is about 10 times higher than traditional ads.

And we know you’d be super excited to hear this so we should have done a spit-take warning there. Our apologies. 

But for real, that alone is enough to at least give the ads a shot, right? But we’ve got some more for you, buckle up: 

• Online retailers reported an average of 128% increase in conversions when they started using retargeting campaigns.

• Between website visitors, those who clicked a retargeting ad to get there are 70% more likely to convert than other clickers. 

• As you know, a lot of us are good at ignoring a Facebook ad campaign these days. We’ve learned to be.

But, 65% of folks online notice and engage with ads that are showing them a product they previously looked at. 

 

Retargeting ads are great for: 

• Reducing cart abandonment
• Decreasing cost per click
• Increasing conversion rate
• Increasing brand awareness 

Before Start With Your Facebook Retargeting Strategy

Before you can actually run retargeting ads, you need to be gathering data.

Every business that wants to advertise on Facebook needs to do a few things: 

1. Set up your website or app pixel and set up events. We have a post showing you how to set up your Facebook Pixel if you want help with that.

2. You’ll also need to set up your catalog on Facebook.

We’re going to show you where to set up your ad campaigns for your Facebook retargeting strategy…

…but before we share that tip, here’s a friendly reminder to check out our new social media ads training course after you read this post.

If you want to master Facebook ads, and social media advertising in general, you definitely need to see this course.

Where To Set Up The Ads For Your Facebook Retargeting Strategy

You’ll set up retargeting during the ad creation process. Here’s what that will look like: 

1. Go to your Ads Manager, click ad creation and start creating your dynamic ad.

When you select your audience, choose Retarget ads to people who interacted with your products on and off Facebook.

2. Choose a retargeting option.
3. Enter the number of days where the action occurred for your retargeting option.
4. (Optional) Select Show Advanced Options to add a Custom Audience or Lookalike Audience to your targeting.  

You can watch a more detailed tutorial on how to create Facebook ads here. 

Dynamic Retargeting 

We love to use dynamic retargeting ads for our clients’ Facebook retargeting strategy because they take a lot of work out of the process for you.

Facebook works to show custom ads to each user (the dynamic part).

And these ads are generally more affordable and have a higher ROI than cold targeting. 

Take a look at this example. See how much better the return is, and how much less the ads cost.

Plus these got way more conversions than the other set, bringing in the highest dollar amount.

That’s the power of Facebook retargeting strategy, our friends. 

With dynamic retargeting, you can choose from the following targeting options: 

• Viewed or added to cart but not purchased
• Added to cart but not purchased
• Upsell products 
• Cross-sell products
• Custom combination

For dynamic retargeting, we recommend this strategy:

1. Run an ad to your audience encouraging clicks to the website (be sure your pixel is properly installed).
2. Build audiences based on their actions on the page (go for high-value actions – purchases, consultations, contact forms submitted).
3. Target folks who visited those pages and exclude folks who made a purchase or completed the desired action.
4. Now, you can run dynamic retargeting ads to show the user the product or service they were looking at. 

Engagement Retargeting

This uses activity to show ads (you can use dynamic or standard ads with engagement retargeting).

Your options for engagement include people who have visited your website, app, store, or Facebook business page.

It’s important that you know what stage of the customer journey your engagement audiences are at.

If you’re brand new to Facebook advertising, or you need to get a decent-sized audience built up, we recommend this strategy: 

1. Set up an ad campaign targeting your customers. Use a well-done video to get attention. 
2. After the video ad is over, build a retargeting list for viewers who watched 25% or more of the video.
3. Send them an ad inviting them to visit your website, join a community, like your page, etc.

Retargeting Audiences Make Great Source Audiences

If you’re like – source what – don’t worry. Source audiences are what you use to build Lookalike Audiences.

These are people who have never seen your business before, but who like the same stuff your current customers like.

Facebook finds them and shows them your ad. 

The idea is that these Lookalikes are going to be more likely to buy because of how many similarities they share with your customers.

Your source audience will come from a Custom Audience that you create. 

Create Your Own Facebook Retargeting Strategy Today!

Retargeting ads are really powerful, especially when used in this giant social media network- Facebook.

That’s because most of your target and potential customers are on this platform.

So you have to do your best to reach them, entice them to come back, and check out what you have to offer.

If you need more help with achieving that, contact us today. We’d love to help you out!

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