How to use facebook retargeting and custom audiences to drive sales

Download How to use facebook retargeting and custom audiences to drive sales

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<ul><li><p>4/7/2017</p><p>How to Use Facebook Retargeting and Custom Audiencesto Drive Sales</p><p> /facebook-retargeting/</p><p>Were always looking for innovative ways to drive sales.</p><p>One simple step which people often overlook is the potential purchasing power of your existing audience. It canbe expensive to market to people who know nothing about your product, but less expensive to increase the lifetimevalue of your existing customers.</p><p>When Facebook first released their custom audiences advertising feature, results poured in rapidly. One e-commerce company, as reported at the time by TechCrunch, targeted their email list and recorded a 43 percentincrease in sign-up conversion and a 30 percent decrease of their cost-per-lead.</p><p>The Washington Posts advertising arm, SocialCode, also reported a 15 percent lower cost per new fan afterusing custom audiences.</p><p>Using custom audiences and Facebook retargeting to activate people who have previously shown interest in yourproduct is a strategy which works.</p><p>Through this article, well give you a practical explanation of automated retargeting using pixels and then look atcustom audiences. Beyond retargeting, well cover:</p><p>Different strategies for generating segmented user lists</p><p>A host of sneaky tips and tricks for maximizing the potential of the custom audiences feature</p><p>Retarget, reactivate, and reap the rewards.</p><p>How to use pixels to automate your retargeting</p><p>1/13</p><p></p></li><li><p>Have you ever checked out a product and browsed their website only to find them staring back at you on Facebookan hour later?</p><p>How did they know to advertise to you? How did they know you were interested in their product?</p><p>Pixels. Thats why.</p><p>What are pixels? In short, pixels are little bits of code you can put in your website which track what users dowhen they interact with your website or advert. There are two types of pixel worth mentioning here. One is theaudience pixel which tracks who visits the website and the other is the conversion pixel which tracks how users haveinteracted with your website once they get there.</p><p>Lets look at each.</p><p>How to create and install a pixel</p><p>Our aim is to create a custom facebook audience on the basis of who has visited our website. Its super simple todo.</p><p>First step, go to your ads manager in Facebook. The link is located in the bottom left corner of the page under theheading Create. Or youll find it at</p><p>This should take you to your ads manager where Facebook will ask you what your marketing objective is . Youcan select whichever option you like, but for this one Im going to keep it simple and select Traffic.</p><p>Once youve selected your objective, Facebook will take you to the next page where you can configure your advert.2/13</p><p></p></li><li><p>This section allows you to determine the audience, the placement of the ad, the budget, and a few extra features.</p><p>When you see the Audience section, click the Create a Custom Audience link shown below.</p><p>Youll then see the option for tracking website traffic. Once you click it, you will be able to name your pixel andFacebook will then generate it.</p><p>When the code is created, youll be given the option to Create Audience or Install Pixel. If you choose Install Pixelyou can access the lines of code youll need to put into your website. This is where we find the difference betweenan audience pixel and a conversion pixel what Facebook refer to as the Event Code.</p><p>The pixel base code goes into your header tag on your website. Facebook recommend including it just before the</p><p>3/13</p></li><li><p>end of the tag directly before . This will set the system to track visitors to your website and create acustom audience for you.</p><p>How to customize a conversion pixel</p><p>The second option, Install event code, allows you to add specific parameters to this tracking. You can createcustomized snippets of code to install on specific pages of your website. The different event options include:</p><p>What someone is searching for</p><p>What content someone has viewed</p><p>What someone has added to a wishlist</p><p>Whether someone has gone through to checkout</p><p>Whether someone has added their payment information</p><p>Whether someone has made a purchase</p><p>Whether someone has registered or become a lead.</p><p>You can also create custom events if youre code savvy .</p><p>Once youve generated your pixel, you have to find somewhere to put it. Where you place a conversion pixel on yourwebsite will define what information youre able to gather. You have two main options:</p><p>1. You can place the pixel in the . This will run the script when the page loads. This is good for trackingwhether someone has arrived at a thank you page or a specific product.</p><p>2. You can place the pixel in a more dynamic area like a button . If you insert the script into the button then avisitor will be tracked when they click that button rather than when the page loads. This allows you to be morespecific with monitoring actions.</p><p>Facebook offers you three settings when configuring your event code: Basic, Recommended, and Advanced.</p><p>The advanced option allows you to add extra variables and therefore provide greater optimization and moreuseful data.</p><p>Lastly, you can name your audience and finish up!</p><p>4/13</p></li><li><p>Now Facebook will gather an audience for you to target in your adverts. You can simply follow the Facebook processthrough defining your budget, your text, and images, and then set your advert going.</p><p>Real life advanced segmentation strategies</p><p>Segmenting your existing or potential customers well in order to effectively target them is an art form.</p><p>Ive made the argument in previous posts that this kind of effective segmentation was one of the key factorsbehind both the Trump campaign strategy and the Brexit campaign strategy both of which were successful againstall odds.</p><p>The three key strategies well mention range from most expensive/difficult to least. From emotional mapping, topurchase monitoring, to content marketing.</p><p>How companies segment their audience by emotion</p><p>In my last article, I looked at the role of psychometric testing and emotional targeting in political and commercialactivities the science of persuasion. VisualDNA was one of the case studies I used to show how effectiveemotional targeting can be in advertising.</p><p>VisualDNA used free to play online games through facebook and other viral quizzes to build a vast database ofpeople and to learn something about them. Most of these games or quizzes included a psychometric element tothem. The goal was to learn who is susceptible to what using psychological concepts like OCEAN and the Needfor Cognition Scale.</p><p>5/13</p><p></p></li><li><p>With this knowledge, they were able to provide advertising tailored to individuals personalities rather than theirparticular demographic position. This proved very effective in one of their case studies with a leading health andbeauty brand:</p><p>Each segment received tailored creative. Because people with high openness are generally morewilling to take risks and experiment, the brand sent them a bold, confronting message: Give twofingers to convention. At the other end of the spectrum, members of the audience identified ashaving low extraversion received a softer sell: Beauty doesnt have to shout.</p><p>By matching the right creative with the right audience, this leading brand inspired over 1,000customers to purchase, and boosted ROI by a massive 56 percent compared with a control group.</p><p>They create their custom audiences by segmenting via emotional makeup. This is likely a difficult strategy for abootstrapping startup to employ, but if youre part of a large company this could be the addition to your strategyyoull need to boost sales even further.</p><p>Targeting different ads at different people works. Check out these two examples given by Neil Patel which showthe financial difference regular advert optimization can make. They have different conversion rates, but if emotionallysegmented maybe they would score even higher! Who do you think each would be targeted at?</p><p>6/13</p><p></p></li><li><p>My growing obsession with emotional targeting has reached the point where I feel the need to analyze everyadvert placed in front of me. Have they used a personality map to focus in on me, and crafted their message in away I would react to?</p><p>Take this advert from the London Review of Books. Im a writer. Im British but living abroad. Im generally frugalonline.</p><p>7/13</p></li><li><p>Is it suspicious? Maybe, maybe not. And we shouldnt take one example to be indicative of a whole campaign.</p><p>Ive certainly visited LRB at points, so maybe theyre just retargeting.</p><p>However, what about the next advert which comes up in my feed?</p><p>8/13</p></li><li><p>Become a fan and discover all the corners of Latin America!</p><p>On the one hand, theyre marketing to me in the wrong language. I think. Unless I spend longer looking at Spanishlanguage adverts as it takes me longer to read them? In which case, Facebook might be sending me Spanish onesfor a reason misinterpreting my abilities as an hispanohablante for genuine interest in products.</p><p>On the other hand, the imagery and the sentiment across the two adverts are incredibly similar . Both presenta sense of wanderlust and look to be focusing on the O in OCEAN; Openness: do they enjoy new experiences?.You could certainly imagine a different advert for the London Review of Books which depicts someone curled up inchair with a good book the kind of advert which may appeal more to the neurotic rather than the open.</p><p>I dont know. Im probably just paranoid. Lets move on.</p><p>Sell products to people who have bought those products before</p><p>If youre selling high-end Swiss watches, you may disagree with this approach.</p><p>However, for companies who sell either perishable or single-use goods, this is a no-brainer.</p><p>The retailer Target is a particularly interesting success story in this regard. They set up a system whereby everycustomer was given a certain ID and their purchasing was tracked with every detail recorded. This resulted in somesurprising outcomes.</p><p>Analysts at Target had found that the birth of a child is a very lucrative event . Therefore, being able to predictwhen this is going to occur would give Target an advantage in marketing to that person and securing their trade. As itturned out, their system worked too well.</p><p>9/13</p><p></p></li><li><p>Target identified 25 products which, if bought over a certain period of time, highlighted an upcoming birth. These25 products, importantly, did not include baby clothes or diapers if the customer is already buying these items thenTarget has missed the event-moment where a persons shopping habits become flexible.</p><p>This resulted in an angry father reaching out to target, annoyed that theyd been sending his daughter advertsfor baby related goods. He accused Target of encouraging her to get pregnant. What he didnt know she wasalready pregnant. Target found out before he did.</p><p>Analyzing your customers buying history can help inform you as to what they may want to buy in future. It could beTargets big data approach, or it might be one of their simpler stories: when customers bought swimsuits in Aprilthey sent them offers for suntan lotion and weight loss books in June.</p><p>This is the kind of technique which any already active company can employ. If youre an online entity, this is a supereasy strategy to use as all of your customers will have a login/user ID of some description. If youre an offlinecompany, you could set up a membership system or club card which incentivises customers to identifythemselves electronically whenever they make a purchase.</p><p>Use content marketing to have your customers segment themselves</p><p>If youre running a content marketing strategy, youre probably offering a couple of bonus free-giveaways.</p><p>Maybe youre offering an ebook to explain something further? Perhaps youre offering a voucher to give discounts onparticular products?</p><p>Lots of companies who employ this technique request people leave their email in order to access the prize . Thisgives you an opportunity. It is also a free opportunity for you cash-strapped startups out there.</p><p>10/13</p><p></p></li><li><p>Say you have products A, B, and C. Theyre different enough from each other to warrant distinct adverts for each andalso for secondary related products D, E, and F, for instance. When you publish content related to product C, youoffer access to a voucher for that product. Maybe someone doesnt go ahead with the purchase, you still have theiremail.</p><p>You can now market to that individual. You can send them adverts for product C, but you can also send them advertsfor product F because you know the two products are closely related.</p><p>So you end up with 3 lists where each list applies to the primary product and a secondary related product. You canrun a strategy like this while spending a minuscule amount.</p><p>Sneaky tips which are mostly allowed by Facebook</p><p>Ill just make this clear from the off: I do not advocate you violating Facebooks terms of service.</p><p>This first option merely serves as inspiration and a demonstration of some of the possibilities within Facebook.</p><p>How to be specific</p><p>If you want to find a persons unique identifier on Facebook, you can simply go onto their profile and look at theirname. For example, Take this URL and add graph in front of This will show you something like this:</p><p>11/13</p></li><li><p>That fbtrace_id can be copied and pasted into a spreadsheet. Now you could (but shouldnt) target that individualdirectly with adverts.</p><p>Its the kind of despicable thing I could imagine startups doing to get their product in front of tech journalists, forinstance. Or, alternatively, a great way to parade your wedding photos in front of your ex, if youre an equallydespicable person.</p><p>Exclude previous conversions</p><p>When youre building your custom audience, you have to recognize that Facebook may know more about youraudience than you do.</p><p>For instance, lets say that you have a list of emails of people who bought items from your website. Youre nowreleasing a mobile app. You want to advertise the launch of the app to all those previous users, but the app is onlyavailable on iOS. Considering you dont have a massive budget, you want to exclude all the users on your listwho use an Andr...</p></li></ul>