What is retargeting?
Mistake #1. Segmentation
Mistake #2. Recency
- Wasting your budget by serving too many ads to customers who have a short conversion path, or
- Limiting your opportunity to buyers who have a long conversion path.
Mistake #3. Frequency
Mistake #4. Creative
Mistake #5. Magic Bullets
So, What Does it All Mean? A Note on Granular Ad Campaigns [+ a Framework!]
- Suggest products based on their browsing or buying behavior (53%)
- Personalize online ads that promote offers and products from websites they visited (49%)
- Show personalized ads in social media feeds (33%)
- How buyers use your website
- What their pain points are
- How to address those pain points
- We’re targeting buyers in the “Product Page Visitors” segment. It includes people who abandoned a product page before adding anything to their cart. I call this whole sheet a “Buyer Segment.”
- This Buyer Segment is broken down into 3 Recency Segments, which are based on how recently each customer interacted with the Buyer Segment. Recency Segments are clearly visualized for ease of understanding.
- Each Buyer Segment and Recency Segment have corresponding hooks, each of which serve to portray the essence of the ad.
- Buyer and Recency Segments are running on Facebook Advertising and AdWords channels. Both channels have consistency.
- Finally, the respective Targeting and Exclusion audiences are presented and mapped to each segment for easy implementation.
The Retargeting Matrix Framework
- Buyer Segments
- Recency Segments
Lever #1. Buyer Segments
How To Create Buyer Segments
- Home page visitors
- Product page visitors
- Abandoned cart visitors
- Recent customers
Lever #2. Recency Segments
- 0 – 30 days
- 31 – 60 days
- 61 – 90 days
How To Create Recency Segments
- Your traffic over a 30 day period in the segment (see minimum granularity above)
- The length of your customer’s journey
Lever #3. Hooks
How to Create Hooks
- Method #1. Customer Review Sites
- Method #2. Live Chat and Help Desk Logs
- Method #3. Customer Survey
- Method #4. On-Page Surveys
Example: Shopping Cart Segment, Issue: Trust
Lever #4. Retargeting Channels
- Which platforms will reach the most users in your target audience?
- Which platforms are the best fit given the size of your site?
- Which platforms will reach a unique audience, and which will cannibalize your existing efforts?
Final Thoughts on Retargeting
Source: Business 2 Community