Identifying the right business leads is one of the most important tasks we have as marketers.
And retargeting them with relevant messages and offers on social media can be the best solution in order to achieve your marketing KPIs.
Let us walk you through the retargeting journey and how it can take your business to the next level.
What is retargeting on social media?
Retargeting on social media is a way to reconnect with leads who showed some interest in your brand.
Whether they’ve liked your Facebook page, attended a related event, or visited the website, they clearly have noticed your business. Retargeting can help you remind them about this in a personalized way and hopefully close the deal.
The goal of retargeting is to bring leads down the sales funnel and convert them into customers. And when applied correctly, it will bring you higher conversion rates, improved ROI, and better understanding about your audience’s needs and behaviours.
Source: Single Grain
For example, if a lead sends a direct message to their favourite shoe brand, RSVP to their event, or like, comment, share or click on their content, then the brand will be able to retarget that user with relevant advertisements on social media.
Let’s say that someone just bought a lovely pair of winter shoes from that company. What are the chances that they might need the best type of socks for the shoes? And the shoe brand shall anticipate that and retarget this user with a relevant offer. Now, we are talking about retargeting.
Why retargeting is important for your business?
Retargeting gives sales teams context to people’s actions on social media. Here are some of the reasons why you need to consider it as your best marketing friend. It helps you:
- Identify the right audience based on past experience.
- Invest into leads who are already interested in your business.
- Drive conversions and achieve higher ROI on social media.
- Get a second chance and offer a special discount to potential customers.
- Reduce cart abandonment on your website.
- Offer a new product or service to former customers.
Retargeting helps you to stay on top of mind with your leads. Sometimes, a person might not be ready to buy from your brand right away, but a kind reminder via a retargeting ad might help next time they are shopping online.
Types of retargeting on social media.
There are two types of retargeting on social media that your business can engage with, so let’s dive into those.
- Data-driven retargeting.
Start with the data you have accumulated so far with your business. Whether it is in the form of emails, phone numbers, fan followers, or social media likes — these are the leads who have shown some interest in your brand. So, why not engage with them with a personalized offer?
No matter if you are just starting your business or run a big corporation, there should be a contact list or any place of reference you can start from when it comes to retargeting.
Once you upload such a list on social media like Facebook or Twitter, the network will try to match the data with their existing users and then deliver your message to the right people. Don’t expect 100% match of all your contacts but the chances you reach 50% of those is very possible.
- Pixel-based retargeting.
Some of the social networks like Facebook, LinkedIn, and Twitter give you an opportunity to install a snippet of code on your website or app, which enables you to target people who visited a specific page later on.
The information is completely anonymous — all you know is that the lead has been checking out your page and they showed interest in your product or service. They are the right audience for you to later target with relevant ads on social.
Let’s say that someone is browsing a ticket to Thailand. Wouldn’t they be interested to see an offer on Facebook about vacation packages in that same destination they are apparently looking into? This is how pixel-based retargeting does its magic.
Tips on how to retarget successfully.
- One size never fits all.
When you think of retargeting, imagine a whole lead nurturing program on social media. Talk to your potential customers with a certain intent, but don’t repeat yourself. Create a special drip funnel of messages as incentive for your leads to convert into customers.
Retargeting is here for the long run, so set some time apart to A/B test your messages and targeting on social media. Once you find the sweet spot for your leads — you’ll be rewarded.
- Mind your leads’ privacy.
In the pursuit to create personalized experiences, marketers sometimes get carried away. There needs to be a balance between personalization and privacy on social media.
Treat your audience with kindness and don’t forget the GDPR and iOS rules that are already in place and limit your access to the audience.
- Check out Lookalike audiences.
Are you looking for new leads that resemble your current ones? Look no further than ‘Lookalike audiences’. This is a great tool on Facebook for ad targeting based on the audiences you have already established.
It can be as simple as a contact list you’ve uploaded or just telling the social network that you want to target people similar to the ones who follow or engage with your content on social media. Don’t miss this opportunity to expand your business and find the right leads.
That’s a wrap!
Retargeting is about speaking to the right people. So brush off your ads and go catch all these leads out there on social media looking for your brand.
Ready, set, retarget!