If you’re advertising online, you’ve likely heard that Facebook Remarketing Ads are a surefire way to deliver high ROI. Over and over again I’ve heard people say that this is the strategy that really works.
But is it all just hype?
I mean, remember how big Furbies were for a minute? Let’s not assume that everyone is right about everything. ?
We can’t take business advice from hearsay and hyperbole. But we can look at the data to see the CPC (cost per click) rates and other KPIs (key performance indicators) for Facebook remarketing ads. By using the data from trusted sources and monitoring our real results, we can be better prepared to create our own campaigns and improve them over time.
Knowledge is power and equals better digital marketing.
The more you know about how Facebook remarketing works, the better your campaigns will be!
If you’re brand new to this type of advertising — interchangeably called remarketing or retargeting — or looking for stats to fine-tune your current marketing plan, this post is for you!
How Remarketing on Facebook can Help Your Business
Think about how you use the internet. Do you see an ad and purchase a product right away?
….Or do you see multiple ads for weeks, visit the website, leave items in your cart, and eventually pull the trigger later?
You’re not alone. The vast majority of users (Smart Insights calculates 96.7%!) will bounce from your app or website without dropping a dime. This is especially true on the first visit, when less than 4% of people will purchase.
It’s hard enough to drive customers to your website through Facebook retargeting ads, Google Ads (formerly called Google AdWords), organic search, email marketing, social media posts, etc. To have them walk away from a potential purchase is gut-wrenching for small businesses.
Facebook remarketing allows your biz to run ads specifically targeting previous visitors to your site. Facebook’s tracking pixel allows you to market to people that visited a specific page of your website and display ads that show up in their newsfeed. This type of advertising is highly effective because you’re reaching out to people who are already familiar with your brand and were interested in a product/service.
In Facebook’s advertising options, you can choose people who have visited your website and even taken specific actions, like put an item in the online cart.
How to Convert Abandoned Carts
What does the data about abandoned carts mean for your biz? It means that most people will leave your site without buying anything, so there’s no room for mistakes on the inbound leads you receive. You have to entice the user to stay on your site, place items in their cart, and get all the way to order confirmation.
Getting to that completed purchase page is hard though! ?
Shoppers find it easier to abandon a virtual cart than a real one. So while 41% of online browsers left their carts before placing an order in 2018, only 24% actually walked away from purchasing in a brick and mortar store.
Abandoned carts are a huge problem that retailers have been aching to solve. If it’s a store you’ve purchased from before, you’ve probably received an email reminding you about your cart and possibly offering a discount.
There’s another way to recapture those interested but wallet-shy customers: Facebook remarketing.
When a potential customer sees the same or similar items from your e-commerce store while scrolling on their social media, it reminds them of your brand and their abandoned cart. The more exposure to your brand, the more likely they are to make that purchase.
Don’t let potential customers forget about your product or service! Keep them engaged with your brand and put your business at the forefront of their mind with Facebook retargeting ads. This also works for existing customers to help convert them to repeat customers.
What Makes Remarketing On Facebook A Good Choice?
As a business owner, you want to know the facts. Not some feel-good story about why you should do something, but how an action is ultimately going to be successful for your biz. ?
When it comes to marketing, FB is a juggernaut. It’s the biggest social networking site in the world, with 2.2 billion active users. That’s Billion with a B. Your potential audience is huge!
With those numbers of regular users and Facebook’s comprehensive data, you can select an audience for ads based specifically on your target market.
And if you’re not using Facebook marketing… you can bet your competitors are. Social media marketing is no longer optional for most goods and services. The decline in newspapers, traditional TV viewership, magazines, and other media means that social is becoming even more important and prevalent in everyday life. Get your ads to where the customers are!
The Facebook Remarketing Stats You Need to Know
Worldwide, 95% of social media marketers choose Facebook as the channel with the best ROI. Here are some of the reasons from Hootsuite why Facebook is such a win for marketers:
- Facebook has 2.41 billion monthly active users
- Facebook is the world’s third-most visited website
- 90 million small businesses use Facebook
- 74% of users log on to the platform daily
- The average Facebook user clicks on 11 ads a month, and ads do not have to be clicked on to be effective
- Facebook accounts for 80.4% of U.S. social referral share to ecommerce sites
- 15% of U.S. social media users shop on Facebook
- 74% of high-income earners use Facebook
Looking at these stats is a good idea for anyone interested in social media marketing for business. Although there is a lot of talk on the digital marketing street about how the youngest generation isn’t using Facebook as the same rate as millenials, Gen Xers, and baby boomers, it’s undeniable that Facebook has a far reach worldwide.
These facts and figures show that despite the gloom and doom talk, ⛈️ Facebook is very much a viable choice for digital advertising.
These are just some of the stats that make Facebook remarketing a good option for businesses. Continue to do research and you’ll see that Facebook is widely successful worldwide and has a direct influence on people’s daily lives, from the time they spend on the platform each day (average 38 minutes) to the number of people who use the platform for their news source (52% of Americans).
When you dive deep into the data, it just makes sense to turn to Facebook for your business advertising needs. ?
Did you learn something new about Facebook remarketing? When you have the tools and knowledge you need to succeed, you have the power to catapult your business!
If you already invest in Facebook remarketing ads, this article is here to back up your strategy. High five, because you’re already on the right track! How can you tweak your campaigns to make them more effective? Keep monitoring your results and see what works best for your customers and your brand.
If you are brand new to Facebook retargeting, welcome to the party! ? I showed the benefits of this type of advertising to make the case on why you should be using it to promote your product or service.
If you own a business and have been wondering if you should invest in Facebook remarketing ads, you should! Harness the incredibly large audience of Facebook, specific demographic fencing, and the platform’s algorithm to target people who have already shown an interest in your brand. This will keep you fresh in their mind and ready to drop $$$ on your business.
Do you have questions about how to get started? Hit me up!