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We’ve often wondered how ad budgets broke down in terms of the two ways advertisers seek new customers: prospecting and retargeting. But we hadn’t run the numbers … until now.
Given that Nanigans’ customers are mostly direct response advertisers, we assumed they would focus more on prospecting. After all, these types of companies are on a mad dash to find new customers and revenue opportunities on Facebook and Instagram.
Well, we were right. Our analysis showed that, on average, advertisers dedicated a comfortable majority of their overall budgets to prospecting in 2018.
This level of spend is a reminder that Facebook and Instagram remain highly valuable channels for brands and consumers to discover each other.
But let’s not forsake retargeting.
Generally speaking, there will always be more online users who have not interacted with your brand than those who have. However, retargeting is still a critical part of Facebook/Instagram campaigns.
Users who have shown interest in your brand — such as visiting a product page or downloading your app — are much more likely to convert to a revenue-producing customer. This is why advertisers in our analysis reported that almost one-third of ad spend is directed to consumers through retargeting campaigns.
For more Facebook/Instagram advertising insights, download our complete Facebook and Instagram U.S. Snapshot Report: Prospecting Vs. Retargeting Ad Spend.
You’ll have access to full data on the share of ad spend Nanigans customers in the U.S. dedicated to retargeting and prospecting on Facebook and Instagram in 2018. We also drill down into the three types of prospecting and how much advertisers spent on each. And finally, we compare average 2018 CTRs, CPMs and CPCs for retargeting and prospecting.