Not all businesses are currently advertising on social media. They are afraid to waste money on target methods that aren’t as precise as Google AdWords or Bing’s search campaigns. How can we blame them? Search campaigns display to users who are looking for your products and services right now and therefore they are high quality users who are ready to potentially purchase right away or at least in a short time frame. The goal of this article is to help the reader understand how social media can be used to generate a good ROI, reducing the risks for your business.
Use Social Media for Remarketing Campaigns
Users that come from search campaigns and don’t convert are extremely good prospects if the traffic was acquired using the right keywords. These website visitors shouldn’t be forgotten and businesses should create strategies that allow them to bring back this traffic to the site and convert it. Remarketing campaigns do exactly that and they can be run on multiple platforms, including social media. Users will see your ads on their social media feed after they have visited your site. This is going to generate two positive results. First, users will start building more trust toward your company because they are seeing it across multiple factors. This result is a good one whether they convert or not because it will help develop your brand. Secondly, it will bring part of the target audience back to the site and generate more conversions for your business.
Target in market audiences, if available
If market audiences could generate a huge impact for your business, it should definitively be part of your strategy. An audience is “in market” when it is targeting people that are following the online behavior pattern of somebody that is very likely to convert in a specific industry. For example, there are market audiences for people that are likely to buy a car, rent an apartment and move out. This type of audience isn’t as good a search because it is based on prediction models but it is very accurate since social media uses millions of data points; which determines who should be part of a target audience.
You should test in market audiences starting with a small budget while allowing it to be large enough to get enough clicks in a day to see whether you can convert at a similar CPA of search.
Create your own in market audiences
We are not suggesting you to analyze user behaviors across millions of data points. This is not only impossible but it would also be a waste of time since you wouldn’t be able to upload this data back on social media. However, there is a way to have social media do that for you by creating lookalike lists, which literally is an in-market audience based on a database you provide. The database you provide could be as simple as your list of website visitors, sales or any other user data.
There are three ways you can provide data. You can simply install a remarketing code on your website and indicate which URLs to base your list on or you could upload your own database using user phone numbers (mobile numbers have a better match rate) or email addresses.
Installing a remarketing code has the best results in terms of quality of the lookalike list but also uploads work well as long as the social media can match the phone number or email with a customer profile. The more people are in your origin list (the list the lookalike is based on) the more effective your lookalike list will be.
Your lookalike lists need to be always updated to be as accurate as possible. Building a list through a remarketing code is going to update your list automatically while if you upload numbers or emails you need to update the origin list manually.
There are ways to use social media effectively for your business. The secret is to find the right audiences for your business rather than targeting a generic audience. Just remember to test social media using enough data and set up a budget that is at least equal if not slightly higher than your current goal cost per conversion to quickly understand whether you could get similar results to your other traffic sources. Hire an AdWords expert with Yael Consulting today.