Discover how paid social retargeting campaigns on Facebook can benefit your brand
In a crowded marketplace, it is more important than ever to make sure your business is seen online. We appreciate that not every brand has a huge marketing budget; it’s not necessarily about spending big but being clever with what you can afford to spend.
This is where social media remarketing comes into its own. Curious to find out more? In this article, we share everything you need to know about paid social remarketing, how to retarget customers on platforms such as Facebook, and what the benefits are of engaging in these types of campaigns.
What is remarketing?
Remarketing is a way of engaging with people who have already visited your website or engaged with content shared on your social media, hence the ‘re’ part of marketing. There are different types of remarketing that concentrate efforts on particular areas of your website or social channels.
What’s important to understand is that remarketing is a paid-for marketing solution, so spending is needed in order to get campaigns up and running. Remarketing campaigns are a really cost-effective way of re-engaging with potential customers and your campaign will only spend money when people click on the advert, so for example, a £100 spend could go a long way.
What is the purpose of remarketing?
It is likely you will have been served remarketing ads without even realising what they are – allow us to explain: Say you’re looking at holidays on your phone one evening and then the next day you are scrolling through Facebook when – bam – an advert pops up promoting your dream holiday destination.
And that’s the purpose of remarketing; to engage with audiences who have already interacted with a brand and encourage them to reingage. We know what you’re thinking – you’re already paying to advertise on various platforms such as classified websites and social media – so how does remarketing benefit your business in addition to this?
Well, think of the effects as a sales funnel; through existing advertising campaigns, you’ve already paid for ‘x’ amount of customers to click on your website. In the case of a car dealership, you may be spending money on a monthly basis, but the customers you’ve attracted through ad spend so far only choose to view a car or two before logging off, never to be seen again.
Think of remarketing as a way of enticing the customer back to your website – these campaigns only target people that have already shown an interest in your stock and likely still need to purchase a car. It’s all about second chances and this is YOUR second chance at making a sale. The best bit is that you won’t spend a penny until the customer chooses to click on your advert and re-engage, so it’s a win win situation.
Once the customer is back, the rest is down to you. Whether the customer chooses to revisit your dealership online or walk through the showroom doors, it’s another opportunity to ‘woo’ them and turn that “maybe” into a YES! Our infographic below will help explain things even clearer:
How remarketing benefits your business
Remarketing campaigns – like those seen on Facebook – have many advantages and ultimately provide a higher return compared to the ad spend, so is considered to be hugely cost-effective too. If you’re not already convinced, then these top 5 reasons to run retargeting campaigns may help to sway you:
1 – Reach more potential customers
This is a chance to reengage with people who have already been tempted by what your business offers. Safe to say that turning those browsers into buyers should prove easier second time around.
2 – Run bespoke campaigns
The content in your adverts can be as generic or as granular as you like. This means that you don’t always have to talk about the ‘bigger picture’, you can focus efforts on a specific promotion or product instead.
3 – Build customer loyalty
Develop campaigns that showcase new products or stock as the ad will be seen by people who may have already purchased from you. Really show them what they are missing out on!
4 – Help boost conversions
Whether you want more inquiries or more sales, campaigns can be created around your particular goals, supported by clear CTAs to get would-be customers across the line.
5 – Return on investment
That’s right, running retargeting campaigns as part of your wider marketing strategy is the best budget-friendly way of closing the gap between clicks and conversions.
Is remarketing a form of paid social?
Yes, remarketing is a form of paid social which is an integral part of any successful marketing strategy. Not only does paid social increase brand awareness by reaching target customers, but it can also drive conversions and ultimately revenue for your business.
Whether creating standard paid social adverts, or remarketing campaigns, one thing’s for sure is that eye-catching adverts are a must. Visual campaigns help spread the word about your brand and encourage people to visit your website – plus an image can say so much more than just a standard line of text.
The good thing about targeted paid social campaigns – such as remarketing – is that they can be broken down into distinct sets of demographics, such as; location, buying habits, hobbies, job roles, and lifestyle, just to name a few of the options available to you.
What is Facebook Ads retargeting?
Facebook Ads retargeting is a form of paid social remarketing that uses campaigns created to promote your brand, products, or stock to customers already known to you. This is a way of reaching audiences who have previously engaged with your business because they’ve at some point clicked on your website, mobile app, or social media pages.
How does Facebook Ads retargeting work?
Facebook Ads retargeting starts by identifying the people who have already engaged with your business. If you want to retarget visitors to your website, then this is done through a Facebook pixel (a small piece of code) that is set up to track people who have previously engaged with you, as well as identify their user journey on the site.
The next step is to specify the type of people you want to retarget in your paid social remarketing campaigns. This can be done by creating custom audiences on Facebook, as well as the areas (locations) in which you want to be seen.
Once you know your retarget audience, it’s time to get creative. Dynamic ads are the best way to showcase your products – if you run a car dealership for example, then this is an opportunity to feed your stock into one central catalogue.
When the ad is live, it’s a good idea to measure its performance so you can understand what type of ads receive the most engagement, and use this information as a basis for creating future campaigns.
Retargeting campaigns for car dealerships
We know what you’re thinking; How can your dealership benefit from paid social retargeting campaigns? Well, we like to let the data do the talking:
- 62% of car buyers discovered new vehicles online compared to just 35% who discovered them in the dealership*
- 82% of car buyers find social media useful when deciding on what new vehicle to purchase*
- 1 in 3 vehicle consumers aged 18-34 consider Facebook their chosen platform to discover or hear about new vehicles*
*Data courtesy of Facebook IQ commissioned Accenture to survey 1,001 vehicle consumers
So let’s look at some ‘real life’ results now. Here at 67 Degrees, our expert marketing team specialises in all things automotive and is well-versed in creating paid social remarketing campaigns that work. You can’t argue with these stats:
Remarketing results – West Motors:
West Motors is a dealership located in Uxbridge, West London, that sells premium used cars. We run a remarketing campaign to people who have visited their website within a period of 30-90 days which shows the visitor a stock feed of different vehicles from the dealership.
Stats over a 90-day period:
- It reached 82,960 people
- 183,833 total impressions were achieved
- Resulting in 4,331 link clicks
Remarketing results – Church’s Performance Cars:
Church’s Performance Cars is a Mercedes AMG and performance cars specialist dealership located in Loxwood, West Sussex. We set up a remarketing campaign focussed on stock feed adverts to promote what’s on offer.
Stats over a 90-day period:
- It reached 1,031 people
- 40,032 impressions were achieved
- Resulting in 761 link clicks
Remarketing results – AMC Motorcaravan Specialists:
AMC are motorhome and caravan specialists with a dealership located in Hailsham, East Sussex. They too wanted us to create a remarketing campaign that showcased their stock, by retargeting people on social media.
Stats over a 30-day period:
- It reached 22,366 people
- 43,384 impressions were achieved
- Resulting in 2,321 link clicks
You too could reap the rewards of paid social retargeting which we can set up for our existing dealers; Get in touch with us and let’s get the ball rolling.