What are Facebook retargeting ads?
If you’re getting into the world of eCommerce and you’re trying to study and understand Facebook’s complex advertising platform. You may have seen people mention retargeting ads, it’s a great tool that Facebooks has implemented into their marketing platform and something that you should definitely know about. But what are Facebook retargeting ads?
When using Facebook’s marketing platform, retargeting ads are simply ads that allow you to reconnect with users that may have already interacted with your brand in one way or another. This could be on the Facebook interface or off it.
Users that have interacted with the following can be retargeted:
- Viewed a specific page, or a specific number of pages on your website.
- Opted in for a newsletter with their email or shared their email through an event such as a conversion.
- They follow your Facebook page or have made some sort of engagement on it, such as liking or commenting on a photo.
- Interacted with an event that your page has created on Facebook.
- Watched several videos that are related to your account, this could be a posted videos and advertisements.
- People that have installed or engaged on your application.
- Made an interaction with your Instagram page. Again, this could be a like, comment, or view.
Now you have a small understanding of what retargeting ads do and how they can perform, let’s get into the grit of it. In this article, we’ll be discussing if retargeting ads are profitable and why. Also, some exclusive retargeting methods of which have been tried and tested to provide great results.
Is Facebook Retargeting Profitable?
Now that’s a question you’re probably asking yourself and I understand why. Whether you’re a novice in the digital marketing world or a professional at your peak. Spending money on advertising that isn’t profitable has to be up there with some of the worst feelings you’ll ever experience. It can be heartbreaking and lead to a ton of stress.
But don’t worry, there’s a bright light at the end of the tunnel for retargeting ads and I have statistics to prove it.
Through rigorous testing over many ad accounts, data shows that people are much more likely to convert when retargeted with a video or display ad. This statistic is roughly 70%. Yes, you heard that correctly 70%. By retargeting someone that triggered your pixel in certain events can lead to a 70% increase of them converting, which is insane.
The next statistic is an impressive one when retargeting your users. It’s been shown that your click-through-rate (CTR) of someone that is being retargeted with a display or video advertisement has a 10x higher chance to click through to your website.
Lastly, retargeting a user that has engaged with your website and impartially added something to the cart. Has a much higher increase in returning if re-advertised a coupon code or deal related to their chosen add to cart product.
When re-targeting always remember that humans are typically pretty indecisive entities. People can become distracted over the smallest of things and giving someone that gentle reminder that they were interested in a product or product range, may make them re-look and purchase.
2 Lucrative Facebook Retargeting Methods
Now you understand what retargeting is on Facebook’s marketing platform, it’s time to put it to the test. Below I have mentioned two retargeting methods that have proven to produce great results if utilized correctly.
Abandoned Cart Reminder
I thought I would mention this first on the list as it’s the most widely used retargeting method out there. Statistics have proven that on average between all industries, the cart abandonment rate is close to 75%. Your website may experience more or less than this percentage, but if we run the average between all industries, you could potentially regain 75% of missed sales.
As mentioned above, people get distracted easily and sometimes completely forget your website even existed. This is fairly common so giving them a small reminder never hurts and especially if they’ve engaged as far as adding something to their cart.
To use this Lucrative method, see below instructions
If you’re thinking about using the abandoned cart retargeting method, I can assume you have a “view cart” page. If you do, that’s great news and you can get into setting this up.
You first want to head over to “create a website traffic custom audience”. To retarget an audience, you are required to make a custom audience based on when the pixel fires. In this case, it’s when a customer views your “view cart” page. Here you’ll want to add this pixel event into the “contains” section found on this tab.
But remember as we’re working on cart abandonment, you’ll want to exclude users that have landed on your “thank you” or “Confirmation” page. You’re able to do this under the same “create a website traffic custom audience” tab, under exclude.
As for the actual ad creative, you want to offer them a once-in-a-lifetime deal. A hefty discount of 15% or more and include words such as, “retrieve your order”, “oops, you forgot something”. Make the user aware that you’ve noticed they’ve added something to the cart but just haven’t gone through the purchasing stages yet. Then, hit them with that unmissable deal.
From personal experience in your creative, you should also create a sense of urgency. Make them feel like they may never get this unbelievable deal again and almost make them “panic buy” (but in a good way).
Re-show Favourite Products
If you’re familiar with how a pixel works (knowing this makes advertising much easier) then setting up a pixel on certain product pages is a must. You’re able to do this method with either a small or large inventory and consists of “re-showing” products to users that have already viewed them.
You’re able to embed a pixel within specific pages so you’re able to gain data of who engages with them and the actions they take. This can be extremely profitable and lucrative if performed correctly.
Think about this for a second. How many times have you viewed a product, saw the price, thought about it for a moment and then carried on with your day? I’m extremely guilty of this and most of the time, I never return to that product.
To avoid this, you want to remind them about the item. Stick it out there like a sore thumb and say “hi, this item is still for sale”. Re-targeting certain products just laser targets your potential buyers even more, by letting them re-visit something they’ve already visited and thought about.
As a rule, always remember when retargeting users that you want to exclude people that have reached the confirmation or thank you page (unless you’re retargeting buyers). Doing this eliminates users that have already converted.
To use this Lucrative method, see below instructions
You want to head over to your “create a custom audience” page and start creating an audience that is based on “people who visited specific web pages” and then contain the URL of the product or page you want to target.
In the excludes tab, exclude all users that have reached the confirmation or thank you page after checkout.
Facebook Retargeting Ads in 2021
Facebook retargeting ads can be one of the most effective marketing tools you can use, especially for e-commerce.
If you’d like to learn more, sign up for our newsletter below!