Retargeting: The Key to Exploding Your Profits on Social

By: ScottCox Friday July 6, 2018 comments Tags: Lakeland, marketing strategy, retargeting, sales conversions, sales funnels, social media agency, social media management, social media marketing, social media marketing Lakeland, social media roi, social media strategy

In our previous two blogs, we've talked about sales funnels and understanding cold, warm, and hot audiences. But now you need to know how to market to these audiences and get them buying from your business more. The key is retargeting.

Retargeting gets your business in front of people who have already engaged with your business in some way. The more they see your business and get value from you the more they'll be likely to do business with you. Studies show that on average, customers convert after 8 touches from a business. That means that the first 7 times someone sees your business, they probably won't make a purchasing decision.

So getting new customers is expensive. You should plan to break even or lose money on customer acquisition. Repeat customers are where you make the profit, and retargeting is what increases your selling opportunities to those customers. Your ultimate goal is to get customers on a monthly package so you have no acquisition or upkeep costs - all the money you make is profit!

So what does retargeting actually look like?

  1. Start with engagements/conversions.
    In order to retarget, you start with the people who have already shown interest in your business in some way. That could mean clicking an ad, filling out a form on your website, viewing a landing page, or reading a blog or email. If you aren't already tracking the people who engage with your business, you need to be. The more interest an action shows in your business, the more important it is for you to track the action.

  2. Track the actions with code.
    Tracking is incredibly important because you can use it to target better with your content based on where customers are in the buying process. Plus, you can improve your techniques based on where people convert or lost interest. The best way to track actions is by using codes installed on the different advertising platforms you use. For example, Facebook Pixel is a great tool that tracks clicks from Facebook to your website. Using Pixel, you can retarget those people with Facebook ads. Other tracking tools we use include Funnelytics, Google Analytics, and the built-in tracking feature in LeadPages.

  3. Use a variety of tools to get more content in front of potential customers.
    Now that you know where your customers are coming from and going, you can use all kinds of tools to retarget your customers. The variety and number of tools you use just depends on your goals and your budget. In general, though, the more tools you can use the better because it puts you in front of your potential customers more often. Plus, by using a variety of platforms to get in front of your audience, you'll avoid ad fatigue.

Retargeting is the most important aspect of making your marketing campaigns profitable. Overlooking that aspect is the biggest reason small businesses aren't successful with advertising, and especially online advertising. Learning how to successfully retarget and implementing the systems to convert customers will explode your social ROI and make your online advertising a significant part of your revenue source. Thinking about copying your competitor's marketing campaign? Don't! Read this first!

Next time on the blog, we'll talk about value ladders and break down how you can offer value to your customers to incentivize them to buy from you. In the meantime, check out our recent blogs about sales funnels and cold, warm, and hot audiences, and subscribe to our blog so you won't miss any of our posts!

Want to know more about how to implement retargeting in your online strategy? Get in touch with us for more info - visit our website or set up a meeting with us to talk with us directly! We want to hear from you!

About the Author: ScottCox