Retargeting ads, or middle of funnel (MOF) ads, are a very useful and desirable campaign as they can be easy to set up, run fairly affordably and have track records of being quite effective.
This type of campaign is designed to reach those who interacted with your website, social media, email campaigns and other forms of media connected to you.
This dynamic and engaged audience makes for a chance at a great conversion rate and lowered cost per acquisition, as the audience is already familiar with your brand.
Dynamic Audience Retargeting
The initial benefit of such a campaign is that it is easy to set up and in a way self updates. Choosing a dynamic audience of social media engagers, email subscribers and website visitors will be one of the warmest audiences you can set up with ease.
Not only will they be familiar, but when run alongside cold campaigns, it keeps the dynamic audience refreshed with new accounts to target.
There is significant budget flexibility compared to cold audience campaigns as your ads will not be searching for new accounts to find. You can set a budget as low or high as desired and still reach engaged and warm accounts.
Conversion Speed
Speeding up the conversion funnel process is an incredible aspect of retargeting campaigns. Not only do warm potential customers get shown products they are likely interested in, but aware potential customers get more information about you.
A well-designed campaign can run with similar benefits to a cold campaign, with a higher conversion rate. Now this isn’t saying only run retargeting, as you still need the cold and top-of-funnel strategy to consistently find new customers.
Track Marketing Performance
A retargeting ad allows you to keep your finger on the pulse in a sense, for your ads. With the dynamic audience, you can gauge the success of cold ads and social media campaigns/content.
Date and metrics in Facebook and Google ads platforms allow you to see just how many accounts see and click on your ads. By comparing that data to estimated sizes of dynamic audiences you can verify and learn more about the quality of your other paid and organic outlets.
A/B Testing
A/B testing with your engaged audience to improve cold conversion ads is a great strategy to test with retargeting ads. With the dynamic audience you can test between audiences on different social media platforms, website visitors, and email subscribers and where they purchase most frequently.
Additionally, creative can be tested in several ways. Does your audience prefer videos, images, carousels or catalogs? With lower budgets being effective, running a long term campaign testing a combination of these methods will gauge overall performance and acceptance of campaign styles.
If you’re looking for more support with Paid Ads especially on FB make sure to check out our FB Ads course to support you in creating ads that work!