Five Facebook Retargeting Ad Strategies that Combat Cart Abandonment
Cart abandonment is an opportunity lost. The term describes sales that are almost made but at the last minute left unpurchased. Currently, up to 68% of carts are abandoned. It is therefore essential to level up retargeting strategies in order to lower this number and realize more sales than ever before.
While there are lots of available retargeting ad strategies that you may use to combat cart abandonment, not all of them are effective. One of the strategies that you may try isusing Facebook. With that said, here are five ways you can retarget cart abandonment via Facebook:
1: Install Facebook Pixel
Facebook can help with multiple e-commerce platforms such as BigCommerce, Magento, Shopify, Wix, and WooCommerce. With Facebook Pixel, you can track who isvisiting your site and how they are behaving in your site, enabling you to retarget them in case of cart abandonment.
There is an old version of Pixel that was replaced early last year, so make sure that you have updated your version of Facebook Pixel first so that you may be able to use it effectively.
2: Segment Your Audience
It is always a wise decision not to execute any marketing strategy that is designed to reach everyone. The same is true when you do retargeting. It is necessary for you to segment your audience to build a better target audienceand come up with strategies that are the best fit for each of the segments.
There are multiple ways for you to segment your audience: what products they’re looking at, what led to their cart abandonment, or whether they made a previous purchase or not. Experiment as to which of these can help you best segment your cart abandoners and then come up with the most effective offer for them to complete their purchase. Your offer should be able to directly target their needs, but of course, this should be within a profitable margin.
Again, do not ever go for a one-size-fits-all retargeting strategy. It almost never works. Do your part in coming up with a personalized strategy that is aimed at helping you provide an effective way for your abandoned carts to be returned to.
3: Create Personalized Ads
It is worth it to give ad personalization a deeper discussion.It’s one thing to identify your audience segments and another to really be able to understand what can make them go back and finish their purchase.
The challenge is getting their attention and committing them to make a purchase. Discounts do not always work. Doing just this is another attempt at a one-size-fits-all solution.
What you should do is really analyze why your customers left. Were they pushed away by the shipping charges? Then try offering free shipping for a small additional purchase. Level up your shipping and fulfilment strategy as it is an integral part of your overall business profitability and brand.
It is really best to maximize the use of available tools that can help you understand why your customers are abandoning their carts so that you may target them in areas that matter to them. Personalization takes a lot of effort, but this is what works.
4: A/B Test Your Ad Campaign
You must understand, however, that not all your gut-feeling solutions will work 100% of the time. Thus, testing your ads before full implementation can be very helpful. It is always great to have two retargeting strategies to choose from for every segment, and you can test the two and find out which one will bring about the desired results before you roll it out for everyone. Roll out one campaign at a time and check which one brings about higher success rates. Launch a full implementation of whichever brings about the best results.
5: Maintain the Process to Achieve Better Numbers
Your remarketing strategies should be fresh, so you’ll need to go through the process often. Your effective campaigns will lose their spark after a while and when they start being less effective, it’s best to start a new Facebook advertisement strategy. But again, make sure that you study your customers, strategize the best approach, test at least two approaches, roll them out, and monitor success. It’s always great to be in control, so be sure that you are always carefully monitoring your retargeting initiatives.
Retargeting is an essential marketing function that e-commerce business should not take for granted. With cart abandonment affecting almost 7 out of 10 orders, it is a problem that should be addressed very seriously.
While retargeting is not straightforward, there are many ways for you to be able to do it correctly. The key is to understand your customers and what can push them to complete their purchase. Being able to do this will help you gain a lot more sales, so make sure to really give retargeting the attention it deserves.
Erin Feldman is an eCommerce business owner somewhere in California. Her past experience as a writer started when she was in college and her career, apart from covering technology, also includes, active lifestyle and social media.