For those of us in the digital marketing space. There is nothing more tedious and analytically strenuous than creating a highly targeted audience that responds well to your ad content and placement. When trying to conquer such a task many online marketers are pulling their hair out trying to come up with a probably solution. Just below we are going to give you that solution! Today, we are going to be covering the Secret Weapons to High Converting Low Cost Ads.
The Problem
When it comes to the digital marketing world, the number of new digital marketers arising everyday is growing exponentially. That means that there is going to be more competition across all niches. This is going to have a seriously negative impact on the advertising space in those niches. As more and more marketers jump online everyday, there is going to be more and more money dumped into the ad platforms such as Google Ad Words or Facebook Ads.
This continuation of new money flowing into these platforms is going to drastically increase the cost per conversion, click, action, etc. This is going to put a lot of stress on all digital marketers. The ones with experience and expertise, of course, will be able to maneuver around the obstacles. However, many of the newly founded digital marketers will quickly dissipate.
Luckily just below we are going to give you some insider knowledge, that experts are using to give your business a fighting chance.
Retarget, Retarget, Retarget
The first rule of business is to retain customers in order to build a long-standing relationship. This should be a no brainer for any experienced marketer. However, I have come across many companies that still do not enact any kind of retargeting system. Did you know, it is roughly five times more expensive to acquire a new customer than to keep an existing one. So it would be correct to assume that most businesses focus on customer retention as opposed to customer acquisition. However, it is a well-known fact that around 40% of businesses nowadays focus more attention on acquisition than retention.
This statistic should either be appalling or invigorating. Appalling because you would think experienced companies around the world would put more effort into customer relationships. Invigorating because you will soon understand how to retarget customers, giving you an advantage over 40% of the businesses today!
Facebook Pixel
When it comes to retargeting my audiences one of the best tools for the job is utilizing the Facebook Ad Pixel. When navigating through the Facebook Ads Manager one can easily access this tool by simply using the drop down menu. It does not take an experience programmer or website developer to setup and install a Facebook Pixel.
When it comes to installation Facebook was nice enough to give detailed instructions to use. Once the Facebook pixel is installed you can create events that pertain to specific actions people take on your website. For example, arriving on a landing page or thank you page, viewing a discount code, etc. All these actions and movements can be tracked, organized and analyzed to discover which areas of your website need work and which are performing well.
However, one of the best use cases by far for the Facebook Ad Pixel is the retargeting feature and look-alike audience feature. Thanks to Facebook already having an ad platform, the data you gather from your website can be used to create High Converting Low Cost Ads!
Thanks to the power of big data and cookies. We can create specific ads to retarget potential customers. In addition, Facebook is also a social media platform. You can create Ads that mimic characteristics of your potential audience. Meaning you can target individuals with a significantly higher chance of possible conversions.
Google Conversion Tracking
The same methodology that is applied with the Facebook Pixel is also applied to Google’s Conversion Tracking on Ad Words. I personally prefer to use Ad Words as my advertising platform. I feel their platform is a little more robust and has good depth.
One key difference that Google Conversion tracking does that Facebook Pixel doesn’t is actual action recording. Within conversion tracking you can set the tracker to trigger after a specific action is taken such as a button click, phone call, email, install an app and so much more! Google gives you the ability to track almost every single action a customer takes. Allowing for a real deep dive into the analysis of customer behavior on your website. This will enable you as a marketer to make the necessary changes to your website in order to increase average time spent on site.
Lastly, Google Ad Words can easily be integrated into your Word Press site. There are a plethora of plug-ins that one can install in order to add the basic conversion tracker to all pages on your site without having to manually upload the code everywhere. This is the plug-in I currently use. (download here)
Start Tracking Everything!
When it comes to creating aHigh Converting Low Cost Ads the devil is in the details. That means that you need to start putting these tracking tools on your website to get a full analytical perspective of how your site is doing. As marketers we should be constantly analyzing data and trends in order to improve efficiency of ads. However, as we have discussed earlier the goal should be to utilize these tracking features in order to retain as many customers as possible. Remember that it cost five times more to gain a new customer than it does to keep an existing one! The money saved by retaining customers can facilitate growth, launch new products, etc. In order to create become a lean mean marketing machine you have to be nosey nelly and start tracking!