Retargeting has become a necessary ingredient in the digital advertiser’s marketing mix. 96% of advertisers say retargeting is already a part of their marketing mix, and 50% plan to increase retargeting budgets in the next six months. With retargeting on the rise, especially on Facebook, what can advertisers do to get the most bang for their buck? We polled Triggit’s team of superhero Account Managers, and here’s what they had to say:
What are your top recommendations for advertisers looking to increase retargeting campaign performance?
-Power a strong dynamic product retargeting campaign with an excellent product feed. A high-performing dynamic retargeting campaign has an excellent product feed at its core. Advertisers need to prepare their feeds with the end result (the ad) in mind. Product feeds should include engaging images and relevant elements in the feed that will appear within the ad unit, ideally going beyond merely product name and price, to product ratings, reviews, and any other details you have access to that will help create a truly personalized ad experience.
-Increase your reach with complete pixel coverage across the entire site. From the home page to the cart page, and everything in between, ensure complete pixel coverage so you can target users during all steps of the purchase funnel. Did you know that by pixeling your internal site search pages, you can target searchers with relevant product ads? The more pages you pixel, the greater the opportunity, so don’t limit yourself to pixeling just the standard product and cart pages.
-Be open to segmentation, and go beyond the audience. Not all audiences act the same, and your campaigns can really take off with different optimization strategies and ad copy tailored for different audience segments. The standard segment is for abandoned cart users, but we can segment your campaigns in any way – by web page, by recency, even by product price, product margin, and more.
-Communicate openly and regularly with your Accounts team. With advance notice of promotional periods and sales, your Accounts team can create the best strategy to drive increased volume and ROI during promotional periods. Additionally, if goals change, be sure to communicate this right away so your team can make the appropriate optimizations to meet the new goals. Keep in mind that it takes time to see the impact of these changes, making it even more important to communicate any changing goals right away.
What should advertisers not be doing?
-Don’t show ads for users who have already converted. This is a no-brainer – continuing to retarget users for the same products for which they’ve already purchased leads to a bad user experience, not to mention wasted media spend. It is very easy to exclude these users once they’ve converted, so be sure your retargeting partner has this capability. That said, there may be natural cross-selling opportunities you should pursue (e.g. did they buy shoes? Why not offer them extra laces?).
-Don’t waste money on static retargeting ads. You probably know that dynamic retargeting performs better than static, driving up to 5X higher CTR and 2X higher ROI. Users demand a relevant, personalized ad experience, and dynamic retargeting delivers just that, versus static retargeting that is generally so, well, general, that they miss the mark on relevancy (and therefore performance).
-Don’t place too much emphasis on daily performance, but rather trends over time. Performance is best reviewed when looking at week-over-week and monthly trends, not individual days. Sure, you might notice that your CPA spiked on a given day, but that doesn’t mean you should change your campaign strategy based on just one day. Additionally, it takes more than one day to measure the impact of prior optimizations that may have already been put in place to address this.
-Don’t expect Facebook retargeting to behave like other online channels. Paid search, display, and even Facebook Marketplace ads perform differently compared to Facebook retargeting. It’s important to set different goals, budgets, and expectations for each channel individually in order to maximize both volume and performance.
What can advertisers do now to really move the needle this holiday season?
-Run promotional ad copy that mirrors holiday season promotions, sales, and special days (ex. up to 70% off on Black Friday). This adds an increased level of relevancy for your holiday shoppers, plus a sense of urgency around any time-sensitive promotions.
-Relax KPI goals and increase budgets to drive more volume during promotional periods. During the holidays, volume increases, and conversion rates typically increase as well. As a result, many of our clients choose to relax their KPI goals in order to optimize more aggressively and capture the increased holiday traffic and shopping volume.
-Be open to new retargeting channels. There’s more to retargeting than FBX. Additional channels can drive more volume and contribute to a strong ROI, such as Facebook’s Custom Audiences and Triggit’s native retargeting on news feeds beyond Facebook. An excellent retargeting campaign is one that targets your users wherever they are, at that exact moment of intent, with a personalized ad.