Every day, millions of people almost buy from brands, but don’t. Perhaps the phone rang, they got distracted, or they had second thoughts. Whatever the reason, Facebook retargeting could help. This system continues to show adverts to potential leads across a network of third-party websites, reminding them of your products and services.
Creating a retargeting audience on Facebook is surprisingly easy. Start by going to ad creation, and then create your dynamic ad. Then choose to retarget people who interacted with your product both on and off Facebook.
Facebook allows you to select who you want to retarget. So, for instance, you can retarget potential customers who viewed or added to cart but didn’t purchase or you can cross-sell to leads who viewed products from a different set.
Facebook retargeting is important because it gives you more chances to make sales. Research shows that it is relatively effective and could reduce cart abandonment rate by around 6.5 percent and increase sales by a fifth. It may also be more effective than other types of ad placements, such as regular Google PPC. Efficiency rates are substantially higher.
Retargeting, though, isn’t free. According to data from Wordstream, you’ll pay between $5 and $10 for each customer you acquire.
But it isn’t all bad news. Retargeting works for most brands. And it is particularly effective if you sell complex products. It allows you to push past consumer pain points and explain yourself more. It’s also great for newer companies that need to build trust.