Best Practices for Retargeting, Part 3

In the first part of our blog series, we discussed the foundations and best practices of retargeting ad campaigns and the knowledge required to make those efforts effective. We followed up by looking in-depth at the channels brands can utilize to expand their reach and influence in part two. To finish our series on the best practices, we will continue diving deeper into the ins-and-outs of retargeting on social media, which only continues to grow in prominence and potential. 

The Shift to Social Commerce 

Social media has been actively working to help advertisers improve engagement and expand their reach. Instagram has reconfigured their entire app to prioritize shopping, adding commerce buttons on the bottom menu, shop buttons to posts and checkout options. Snapchat has provided a flurry of new products that advertisers can leverage and Facebook continues to expand its suite of services, particularly for small businesses. 

Experts believe that most consumers are growing more accustomed to shoppable content and a new willingness to purchase products online directly from these platforms. A GlobalWebIndex study found that nearly 30% of users cite researching/finding products online as a main reason for using social media. Social media is quickly adapting to changes in market and shopping behavior, and brands are taking notice. 

Many social shopping capabilities are still evolving, but considering that audience behavior is adapting favorably to the idea, social ecommerce is expected to accelerate at record rates. These platforms aim to utilize the millions (sometimes billions) of eyeballs skimming their sites each day to become a top brand driver and converter for online businesses. Social platforms are dedicated to providing brands with a full-service, full-funnel commerce option. Everything from product discovery to purchase can now be completed directly on many of these platforms. 

Social Ads Will Be Strong In 2021

With rapid evolution on the forefront, social ads will be a force in 2021. They work because they are highly targetable due to the ample data available about users, based on demographics and behaviors completed on the platforms. Brands that have a firm grasp on their target market will be able to build in-depth and niche audiences to target with their ads. 

Most marketers know that shoppers need more than one interaction before completing a purchase. With user’s time spent on social media continuing to increase, retargeting on these platforms is a powerful opportunity for advertisers. It’s a highly effective strategy to continue to remind users of your products or services, nudging them down the funnel.

The strategies that work best are:

• Audience segmentation – It would be an unwise use of budget to retarget everyone who visited your site with the same message across social channels. Instead, be more strategic by targeting specific audiences with more customized messages and creative to appeal to their interests. This can be done by retargeting based on specific pages visited, products browsed or actions taken on your site. Show them messages on social media that encourage them to take the next step in learning more to get them closer to conversion.

• Dynamic retargeting – Shoppers want to feel like brands understand them and their shopping habits. Utilize dynamic messaging to really personalize their shopping experience. Retarget with current products and inventory you have available that they have shown interest in or complementary products to increase purchase value. Drive engagement by tailoring their experience with your brand, building an emotional connection.

Retargeting is a powerful tool but even more so when you continue to meet audiences where they spend the most time with personalized messaging. Building brand awareness and engagement through their purchase journey not only increases sales, but builds loyal customers who are more inclined to return. People have come to expect a customized online experience and with strategic retargeting techniques, your brand can stand out in a crowded market.