I use Facebook Retargeting Ads in my business and they cost me more than a general Facebook Ad though I know the value of the customer when they are at any stage in the closing process.
You can just set them and forget them. Dollar Shave Club has been in my Facebook Feed for the past 12 months, trying to get me back to purchase. One click equals the cost of their ad. They do simple math against their product and hedge their bets. Clearly winning.
What happens with Facebook Retargeting is that when you make your ad, it talks to your Facebook Pixel code. When a Facebook user hits your site that user is thrown up that ad when it returns to Facebook.
Despite what you’re thinking about privacy here are 4 reasons I’ve gone all in on retargeting.
1. 80% of sales happen in the 7th to 12th interaction
In fact most conversions will take between 7 and 12 interactions with your brand before a sale…
So wouldn’t it make sense to focus on the low hanging fruit? Those leads who have:
- Shown interest
- Visited your site
- And are close to sale?
In sales we need to build trust, goodwill and reciprocity. As Gary Vaynerchuk’s book titled Jab, Jab, Jab Right Hook implies, you need to give value, give value, give value then ask.
But its also more than that…
2. Most Visitors Don’t See Your Offer
- You need to understand the psychology of what makes people buy
- You need to be able to take your visitor on a logical path to build that relationship…
- Too many businesses are basically “Who they are” (All about them) and What they sell (far too soon in the relationship buddy!)
And that’s why we do things a little differently around here. I’m not going to claim you can do the same. Maybe you’ll do more. But standard ROI (Return on investment) for retargeting is around 200% on general Facebook Ad methods.
3. Sales Are Based On Relationships
General marketers look at my views on remarketing as a bit lame because they don’t serve growth much.
With growth hackers on every corner of the internet I just want you to focus on selling your product. This actually is a method of re engaging with your audience.
And that interaction is huge when you don’t know where anyone is at in your sales cycle.
Some good use interaction use cases.
- To re-engage and convert into leads
- To direct and “prime” prospects
- To up sell, cross sell or build repeat sales
- Or to simply just interact with your audience
4. 80% of Profit can Come from Previous Customers
Do you have a follow-up processes in your business? Most don’t. Yet it is the cheapest way to bring in money.
Keep your customer base top of mind is key. These customers are known as your tribe. Coined by Seth Godin in 2008, in his book ‘Tribes’ Godin presents that people are subject to like-minded people, hungry for connection, belief, meaning and change.
Doesn’t that fuel you to always have some Facebook Ads on the go? Budget a limit today and you’ll see sales come in from your Tribe.
Chet Holmes wrote a whole chapter dedicated to ‘Follow up’ after his seven rules of sales in ‘The Ultimate Sales Machine’. Could one of the silent assassins of sales be wrong about this? I doubt it.