Retargeting allows companies to have a greater impact on their audience, retain interested users, and significantly improve conversion rates. In this article, we aim to explore all aspects of retargeting and its influence on increasing conversion rates on social media. So let's delve into studying this topic together!
Retargeting is a marketing strategy that enables companies to target their advertisements to users who have already shown interest in their products or services. It is based on the use of cookies and tracking pixels.
When a user visits a company's website, their actions and preferences are recorded using cookies or tracking pixels. These data are then used to display the company's ads on the social media platforms that the user subsequently visits.
For example, if a user has browsed a specific category of products on a website, the company can target that user by showing relevant ads on platforms like Facebook, Instagram, or other platforms. Agreeably, this is quite convenient.
Now that we know what retargeting is and how it works, let's discuss its benefits:
Increased touchpoints
While regular targeting may work only once and serve its purpose, retargeting allows companies to stay in touch with users after their initial website visit. This helps to maintain interest and serve as a reminder about the product or service much more frequently.
Enhanced brand awareness
Regularly displaying a company's ads on users' social media pages increases brand awareness and helps build valuable trust in the world of marketing.
Improved conversion rates
Advertisements targeting users who have already shown interest in a product typically yield higher conversion rates. Why? Because we already know that these ad creatives and overall brand products are relevant to their needs and preferences.
Advertising budget savings
No more cold marketing and wasted expenses on capturing someone's attention. Retargeting allows companies to focus on potential customers who are already familiar with the brand. This helps to more effectively utilize the advertising budget and reduce costs of acquiring new customers.
Use optimal data sources
Meta provides a wide range of data sources for retargeting: it can be your Instagram or Facebook account, website (just don't forget to set up the Pixel first), application, and even a regular Excel file containing information about your clients.
Segment your audience
Utilize available data to create different audience segments, such as age, location, marital status, and key interests (sports, beauty, healthy eating, travel). Then, set up advertising campaigns that are highly relevant to each segment.
Use creative ad formats
High-quality ad creative is a significant step towards success. Experiment with different formats, design variations, and strive for concise and appealing ads.
Set optimal frequency capping
Control the frequency at which ads are displayed to avoid annoying users with excessive repetitions.
Test and optimize
Conduct A/B tests with different ad variations and optimize campaigns based on the data obtained.
To summarize our brief exploration of this topic, it can be confidently stated that retargeting is a powerful tool that can significantly increase conversion rates on social media.
It enables companies to effectively utilize advertising resources, attract and retain interested users, and enhance the effectiveness of marketing campaigns. Follow our recommendations, explore the vast world of marketing, and apply the full potential of retargeting to achieve your highest goals.
And if you need assistance in setting up advertising campaigns, feel free to reach out to the Kiwi Agency team. We'll be happy to answer your questions and help you solve your challenges.