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If you’re not incorporating retargeting capabilities into your Facebook ad campaigns, you’re missing out on a massive opportunity to grow your revenue by reaching and re-engaging consumers that have interacted with your brand. Because Nanigans and Facebook offer a variety of tools that lend themselves to retargeting, like Dynamic Product Ads (DPAs), Facebook Exchange (FBX), and Website Custom Audiences (WCAs), you have plenty of opportunities to include retargeting in your Facebook advertising strategy. To help you get started, we’ve compiled three simple ways you can start using retargeting on your website or app to grow your revenue.
Not everyone who visits your site will immediately make a purchase. According to ecommerce analytics company Formisimo, the average rate of cart abandonment in 2015 is 68% — which means more than half of your potential customers will add an item to a cart and then abandon it without actually buying anything. These people have shown initial interest in your brand, but you’ll need a retargeting solution to get them to complete the transaction. With the help of a pixel on your site, retargeted users will see an ad showcasing a product they were considering. This reminder may be all someone needs to convert, but if they require a little extra push, promotions like coupon codes or exclusive discounts are proven methods for getting someone to return to your website and make a purchase.
You can also configure your ads to retarget people who have made a purchase, giving you the opportunity to cross-sell complementary products. Let’s say you have an ecommerce site that sells women’s clothing and accessories. If a user buys a specific pair of high heels on your site, you can retarget your ads so that the next time she logs in to Facebook, she’ll see an ad for purses you sell that match those shoes. Or you can leverage retargeting to sell her products that are a similar style to the shoes she already purchased. Facebook’s Dynamic Product Ads automatically populate with relevant products, taking the manual work out of retargeting and providing marketers with more opportunities to drive revenue.
If your company has a mobile app, then you know it’s important to not just get people to download it, but to continually use it as well. With the customer behavior tracking of the Nanigans SDK and the retargeting power of Facebook’s Custom Audiences, you have the ability to identify lapsed app users and keep them active long after an install. Mobile gaming companies can use these tools to encourage gameplay with bonus levels or special items, and ecommerce brands can inspire customers to post a review or send a referral code along to a friend. Regardless of your vertical, retargeting is a powerful way to activate prospects and boost revenue.
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