Launched in June of 2012, Facebook's native retargeting ad product, Facebook Ad Exchange (FBX), has been proven to be extremely effective, with some partners reporting dramatically higher clickthrough rates and lower costs per conversion than traditional web retargeting.
While I won’t go deep on explaining the technical logistics of FBX here, basically, FBX advertisers place a Facebook pixel on some or all of the pages of their website in order to retarget website visitors with ads on Facebook.
Here are 3 ways your brand can use FBX advertising to accomplish your marketing goals:
1. Close the Sale
If your eCommerce website has a conversion rate of 2%, that means that 98 out of 100 visitors to your site are not buying! Let’s change that. Retarget browsers and shopping cart abandonners with offers relevant to their experience in your store to entice them to come back and complete the purchase. In the example below, we're retargeting a visitor segment that has visited two or more Nike products in our running shoes and apparel store.
2. Ask for a Post-Purchase Review
It is no secret that online reviews are effective conversion drivers, and that most online shoppers rely on peer input to make purchasing decisions. Target your past purchasers with offers that reward them for returning to your store to leave a review, or better yet, for sharing their purchase with their network on Facebook.
3. Foster Loyalty Among New Customers
Customer Lifetime Value is a key metric for most marketers, and FBX is a fantastic tool for retargeting past purchasers to start the conversation about their next purchase. You’re probably already doing this with your email CRM communications. Think about how this could translate to Facebook communications.
Facebook retargeting with FBX can be a tremendously effective and efficient way to drive conversion and improve customer loyalty and lifetime value. If you’re not using it to move the needle on these key marketing goals, you may be missing out on some low hanging fruit.