The Facebook Exchange, Facebooks (relatively) new real-time bidding platform, has brought retargeting to the worlds largest social network. Many marketers see the Facebook Exchange as a trade up from its traditional demographic targeting tool which allowed targeting based off of self-reported demographic information. Marketers now have the ability to target Facebook users based off of their browsing behavior, and initial tests have been successful. No matter how you use display or social advertising, Facebook retargeting on the Facebook Exchange, or FBX, could be a great complement to your existing marketing mix.
Facebook Retargeting Works
When FBX first launched its beta in June, Facebook chose a list of partners to begin running retargeted ads for select clients. This was the first test of real-time bidding (RTB) on Facebook, and it concluded with some very encouraging results.
At ReTargeter, we chose to test Facebook retargeting ourselves. The results have been impressive, and our campaign has generated a sizable number of leads with a strong ROI. We ran several ads offering our Facebook retargeting services, and what surprised us most was the ability to generate leads for our B2B service within a non-professional social network.
Why Spend More on Facebook?
Facebook retargeting is a great option for marketers looking to gain more from their online advertising efforts. Accounting for 28% of available U.S. display impressions, Facebooks inventory offers reach that eclipses number two Yahoos 11% stake.
For marketers, Facebooks greatest value comes from both the size and engagement of its user base. With a billion people devoting 15% of their online time to the social network, Facebook retargeting allows you to reach your users on virtually unlimited inventory.
Integrating FBX into Your Retargeting Strategy
Whenever youre experimenting with a new marketing tool, its best to allocate a small portion of your current budget to test with. Overzealous marketers have been known to dump an entire quarters budget into the latest commodity because its new and exciting. Instead of sacrificing your current initiatives to test a new tool, think about how it can be integrated into your current efforts to make the whole greater than the sum of the parts.
If youre currently using retargeting, adding FBX to your retargeting strategy is a great idea and easy to do. You already have an audience pool from your current retargeting campaignjust ask your retargeting partner if they have access to FBX.
For those new to Facebook advertising, there are some notable differences. One of the biggest distinctions between traditional and Facebook retargeting is the ad format. Instead of standard IAB ad formats, the Facebook display ad is a hybrid of image and a text ad, similar to a Google AdWords image ad. While the text gives you the opportunity to include pricing, a product description, and even a deal, the smaller image size can be limiting. When designing ads for Facebook retargeting, remember to incorporate the same key elements from your standard retargeting campaign. This practice will keep a clear, consistent messaging in your users minds as well as add a strong brand recognition element to your campaign.
Another major difference is how Facebooks network is accessed. Facebook retargeting is not accessible through any of the major ad exchanges like Googles DoubleClick or Yahoos RightMedia. FBX is an entirely separate ecosystem of Facebook-only inventory that can only be accessed by approved FBX partners.
Facebook Targeting v. Retargeting
If you didnt know about retargeting but are familiar with standard Facebook advertising, you know that it works best as a brand advertising tool for improving awareness. These ads typically work to generate exposure and are not regarded as a particularly effective conversion tool. Retargeted Facebook ads provide the opportunity to engage users based on their previous behavior, which allows you to focus on users already familiar with your brand. Serving your ads to people further down the purchase pipeline increases the likelihood of a conversion after the click and boosts your ROI.
Its Time to Give Facebook Retargeting a Try
If youre currently using site-based retargeting to increase conversions or Facebook advertising to generate interest, its time to think about retargeting on Facebook. The data has shown that Facebook retargeting is an effective tool for many different types of companies. But dont take our word for ittry adding it to your digital marketing mix and see for yourself.