REPLAY: Why Retargeting is Even More Important than Email Marketing [Facebook Live Show]

Episode OCHO of Live Online Learning (LOL):

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Here’s what we talked about, in addition to attendee live questions we answered:

 

• What is retargeting?

 

• • • It’s the best way to stay visible to your hottest leads and best potential customers. It’s a best practice to getting quicker revenue and profits.
    • Retargeting is when ads follow you around- have you ever viewed a site or product and then you see it everywhere? It’s stalking you!
    • Showing ads to people who’ve been on your website or viewed one of your products or services- if you include custom lists it’s also visibility to your opt in email lists and contacts

 

• Why retarget?

 

• • • Owned marketing- these are people who are now in your audience, similar to email subscribers or fans or followers- they haven’t opted into a list but they did show interest.
    • How few people buy or take action right away
      • What’s your bounce rate? That means the % of people who only view on page on your website and leave right away. The average site has about 50% of visitors bounce, without viewing a second page. For many sites it’s as high as 70-90%. Many businesses haven’t optimized their websites behaviorally to get users to stick around and view multiple pages. Retargeting is a great way to bring them back.
      • What’s your ecomm conv rate? 1-2% Reverse it. 98-99%. That’s the % of people you’re losing who forget about you within 1-3 days. Retargeting keeps you top of mind.
      • What’s your email or lead gen opt in rate?  3%-20% Reverse it. 80-97% That’s the % of people you’re losing who forget about you within 1-3 days. Retargeting keeps you top of mind.
      • If you’re working hard or paying to get that traffic, how do you feel about losing most of the people and them promptly forgetting about you? It sucks, right? Retargeting fixes this.
    • Retargeting is like email but better
      • Do you email market? Have you grown a list and done follow up emails to them?
      • Only 20-30% of people open emails
      • 97% of people use cookies, don’t block them, and can be retargeted
        • Advertising on Facebook and Instagram, you can reach 72% of Americans, 69% of Canadians, 68% of U.K.
        • Those ads will get a substantial message in front of people, like a short email- but in front of 2-3x as many as those who open your emails.
      • If you have an email follow up sequence you need a retargeting ad sequence
      • Best practice is to do both email marketing and retargeting (website and custom lists)
    • People need to hear about you 7 times before they’ll buy. Or is it 17 times. Or 27 times? There are different numbers quoted out there- who’s right?
      • Who cares. It’s more than one time! Most people don’t buy the first time they hear about or visit a brand.
        • Sometimes the first time you go to a website, you’re distracted by something or you get pulled away or you’re not focused on their message or you don’t have time or you’re resistant- but over time with repeated exposures to the marketing message, you hear and “get” the message, or hear about the value and how they solve your problems and the unique benefits of their offering and eventually you come to want that thing.
      • Retargeting helps you stay top of mind until they’re ready to take action so that you’re their first choice when they buy- are you worried about competitors getting all the sales?
        • Without retargeting, when your prospect is ready they might see your competitor’s ad or marketing, and you miss out on the sale. They visited you 3 weeks ago, but your competitor is luckier in their timing (or perhaps your competitor is retargeting) and you lose the sale.
    • Familiarity increases affinity (in social psych it’s called The Familiarity Principle, aka The Mere-Exposure Effect)
      • Studies show that the more we’re familiar with a person or brand, the more we like it.
      • For not very much money you can look like you’re everywhere to the most interested people- they don’t realize you’re not advertising to the whole world this much, so they think you’re a huge deal.
    • One of the two best converting targeting options
      • Along with email subscribers, these are your hottest potential leads.
    • Just spending $1 a day on retargeting means you’re in front of 100 of your best prospects a day- instead of zero of them.

 

• How do you set retargeting up?

 

• • • Facebook Pixel code from Facebook goes on every page of website, every landing page, in your ecommerce cart, checkout, everywhere! (in AdWords it’s called remarketing and it’s in the audiences section of “shared library”)
      • This cookies every user that goes to the site, and grows a list of people who can see your ad. If the cookie is on their computer, Facebook can show your ads.
    • Also custom audiences are similar, and are built from email lists and phone lists- so combining web traffic and opt in lists, you can reach just about everyone who knows your brand

 

• What kinds of retargeting ads are best?

 

• • • Ad type depends on goal-
      • Conversion for ecomm or lead gen with landing pages
      • Leads ads for lead gen with
      • Video views (also can drive traffic)
      • Post engagement
    • Variety- it’s best to have more than one ad, so that people don’t tire of it- when the audience is small they’re going to see it more frequently
    • Things to put in the ads
      • Lead magnet- grow your opt in email list with an ebook, checklist, quiz, etc
      • Sales: Offering related
        • Benefits- what does it do for them? If there’s a lot of this, use multiple ads to get them all across
        • Problems- what problems does your offering solve for them?
        • Unique selling prop- how are you better or different than the competition?
        • Discount- offer a special/secret discount

 

• How not to be annoying or creepy

 

• • Maybe don’t run ads that acknowledge that you know they’ve been to your site- because they don’t always know how they’ve been targeted
  • Watch your frequency, don’t go above 3 within a week- when your retargeting audience is small, you have to have a smaller budget. It’s often around $10 CPM, rather expensive to do small retargeting audiences but worth it- so if you only have 1,000 people in your retargeting audience early on,
  • Ad variety
    • Have 5-10 ads in the retargeting ad group so Facebook has a number of ads to choose from to deliver variety to people. Pause ads when their frequency is above 3 in a week (unless they’re converting so well that you don’t care!)
  • Exclusions
    • Exclude people who’ve bought- don’t annoy them by showing them the thing they’ve already bought- create an audience of people based on the url of the purchase confirmation page and exclude them based on that or the purchase conversion