Besides word of mouth, ads are a great way to generate buzz and conversions for your business.
To increase your success rate, your ads not only need to be targeted, but you also need to set up a good retargeting strategy as well.
There’s no better platform to run a retargeting campaign than Facebook. Given the number of active users and evolving algorithms, it’s an advertiser’s dream.
To help you establish an effective Facebook retargeting strategy, we’ll take a quick review of what it is and the updated strategies you can start using today.
Understanding How Facebook Retargeting Works
Let’s break down the terms first.
We all know Facebook, the social media network that has over 2 billion users as of 2022. Businesses now use it to establish legitimacy, generate interest, and gain new leads.
In 2007, Facebook officially introduced Facebook ads—allowing brands to deliver ads to a targeted audience. Users have the option to set parameters, including location, age, gender, and categories. You’re also allowed to indicate your campaign objective and your ad spending limit. Once that limit is reached, Facebook sends a notification, so you have the option to continue running it or not.
Facebook ads have since gone through several changes. Users can now deliver “Sponsored Messages” via Messenger and even explore different content formats from the immersive Instant Experience to sponsored Stories.
Retargeting is exactly what the name implies.
Retargeting—or remarketing—is an online marketing strategy that sees you reconnect with customers who have previously interacted with your business.
These “interactions” are done on or off Facebook, including:
- A user who has followed your page
- Users who responded to a Facebook event
- Users who have liked or reacted to any of your posts
- Viewed your page on Facebook or Instagram, or web pages
For example, a user interested in booking airline tickets uses Google Search to find a good deal. When they visit an airline site, they realize they’re not ready to buy tickets and leave.
Then, they come across the same airline offering promo tickets via a Facebook ad.
They saw this ad because the airline had set up a retargeting campaign to reach website visitors. Ready to avail of this great deal, the user clicks on the ad to purchase the tickets.
Converting buyers takes time, so the goal of retargeting is to close the purchasing cycle.
How to Retarget on Facebook in 2022
- Use video content
Video content is a great way to showcase your brand. With long and short-form video formats to experiment with on Facebook, get creative and see how your audience responds.
After that, Facebook lets you determine how many users consumed your video by benchmarking timestamps. Users who watched at least half of your videos indicate strong interest and are likely to convert when retargeting them.
- Retarget abandoned carts
Conversions are the primary reason so many businesses invest in ads. So what better way to maximize ads than by retargeting users who’ve abandoned carts?
For any website owner, cart abandonment can be incredibly infuriating. No business wants to see a customer so close to the finish line—only for them to never make it through. But given that the average cart abandonment rate across all industries sits at a whopping 69.75%, it’s a good idea to put that retargeting strategy into full motion.
Using Facebook pixel, you can track website activity, including:
- Have visited your website’s Cart page
- When a shopper clicks your Add-to-Cart button
- Completed an order
You can then run Facebook dynamic retargeting ads to create personalized carousel posts that include products they viewed or left in their cart.
- Use Lookalike Audiences
One key feature of Facebook ads is lookalike audiences. It allows you to extend your reach to an audience that’s similar to your current one. And the best part? Facebook can automatically generate a lookalike audience for you. It does this by basing the data on the parameters you’ve set under custom audiences or through Facebook Pixel.
- Remember to track your ad performance
Facebook lets you measure which ads and platforms gain the most engagement from your remarketing efforts. By continuously optimizing your ads, you minimize risk and create content that converts.
Launch a Successful Facebook Retargeting Campaign Today
The chance to reconnect with first-time customers and prospects is what makes Facebook retargeting a powerful marketing strategy. You not only get a second chance to convert customers, but you can effectively segment your audience and publish personalized ads as well.