Mastering a strategy for Facebook targeting exposes you to specific (and usually motivated) portions of your market. Such targeting is done on a platform that Americans spend 40 minutes each day on.
Below are a handful of strategies for ad targeting on Facebook that you might not be aware of.
1. Focus on Behaviour Exhibited by People Who Have Recently Made a Purchase.
When it was first launched, Facebook received criticism from advertising analysts who called the social network nothing more than a hangout. They believed the platform had very little commercial potential, as far as consumer insights went. However, in early 2013, Facebook developed partnerships with Datalogix, Epsilon, and Acxiom, among other data brokers.
These organizations were able to access data transactions every year by the trillions. Higher-ups at Acxiom claimed their database contained details about active consumers all over the world – 500 million of them, in fact. The company said that each consumer had 1500 data points, on average.
All of a sudden, Facebook was aware of what games you spent the most time playing. If you were soon to be wed, on meds for hypertension, or enjoyed reading romance novels, Facebook now knew about it.
This provided advertisers with the potential to connect with consumers using something besides their CRM databases. Advertisers were able to utilize insights obtained from loyalty programs. The data they had access to matched individual profiles for users. This data was used to single out segments of an audience based on thousands of differing buying behaviours.
Buying behaviour subcategories were comprised of health/beauty, food/drink, clothing, buyer profiles, and much more. Within every broad subcategory was the option to specify certain kinds of behaviour. For instance, if you selected buyer profiles, you had the ability to target food lovers, fashion experts, and DIY experts, among other people.
Facebook can tell you the amount of profiles you have the ability to target for subcategories. This is based on the social network’s multi-sourced, aggregated, off-line transaction data. In other words, the amount of users on Facebook in a specific category they have paired up with off-line buying data.
The sky is the limit with regard to these options!
2. Explore Your Creativity by Targeting Life Events
Certain kinds of campaigns or businesses revolve around selling to consumers who are in the midst of specific events in their lives. For instance, funeral parlors desire to engage with those who are losing/lost a family member, coordinating a funeral, or are fatally ill. Moving companies want to be seen by new homeowners. Wedding photographers want the attention of newly engaged couples.
Every life event you can think of is happening on Facebook, which makes targeting people involved in such events easy. People tend to write about these events on their timelines without realizing the data they created about themselves for potential advertisers.
The perimeter for Life Events is special – you can focus on a certain sector at various intervals. For instance, a jewelry store may have an interest in being seen by those who have a one-year wedding anniversary coming up. Audience members they can target include newly married couples from a year ago. Date ranges can be filtered down to twelve months, six months, and three months.
3. Build Loyalty and Nurture Leads Using Custom Audiences on Facebook
The custom audiences feature on Facebook lets you connect with your current contacts on the social media network. Being seen by existing app users and customers on a platform they are frequently on is great for brand reinforcement. Further, it provides you with the chance to enhance a customer’s lifetime value, loyalty, and order frequency.
This can also work in the opposite direction as well. Your campaigns’ efficiency can be increased, and wasted clicks could be avoided by making exclusions on your list of existing customers. For instance, if a 7-day trial is being offered to brand-new users, then it wouldn’t be worthwhile to promote the offer to loyal customers.
You can create custom audiences by uploading a subscriber/purchaser email list or customer phone number list either in TXT or CSV format on Facebook. Custom audiences can also be created based on website visitors (and certain pages visited), or specific actions made inside of your app or game.
From there, an entire list can either be excluded or targeted. You can also choose to focus on certain list subsets with other targeting perimeters you can zero in on to find an ideal market on Facebook.
This is a lot more powerful than you may think! Existing customers can be targeted if they have a certain job title, make a minimum salary each year, and reside within a designated zip code. You can offer them a product of higher value if such insights indicate that these people could become affluent customers of yours.
Alternatively, people can be targeted who visit your businesses’ blog with product or demo offers. They may have familiarity with your brand and showed an interest in it, though they may not have committed to buying anything yet. By targeting a specific audience with your Facebook ads, though, that gap can be narrowed.
The amount of differing demographic points you could combine and target is impressive. Location, interests, parental status, marital status, living arrangements, net worth – all of these demographics are at your disposal.
4. Look-Alike Audience Expansion
Audience look-alikes will be the next step you take once a good strategy for custom audiences is in place. Your fan base on Facebook can be mirrored even without a phone number or email list of your own. Look-alikes let you expand your reach while targeting consumers with very specific profiles. This is done by creating markets that resemble your existing targets.
Audience look-alikes can still be created with tracking pixels even if you don’t have a decent-sized following on Facebook or a list. In fact, a custom audience can be mirrored.
After you have chosen an audience to focus on, it can be grown (broader) or shortened down (more specified and akin to your initial market). At levels that are most similar, Facebook will help you locate the top 2% of users in the country you target that have similar traits. Alternatively, for reach optimization, your ads will be displayed to users in 10% of your targeted countries who resemble your market the most.
5. Use Layer Targeting Choices to Become Super Granular
Facebook ads’ strongest aspect is the option to layer targets above each other (use software to greatly enhance this) , which lets you gradually specify your market. One funny and extreme instance of hyper-targeting’s strength was revealed last year in AdWeek – a marketing professional targeted his flatmate with ads that were so spot-on, the flatmate believed he was a victim of cyberstalking.
You have the option to use integrations of geolocation data, behaviours, and demographics to whittle down your market – to the point where your audience can come down to a single individual. Far more effective for you, though, will be the capacity to match advertising offers to audiences of a smaller size (developed using data combinations).
For instance, moving companies may promote a unique discount for the elderly by targeting those who have bought property over the last 30 days, layered with a 60-year-old age range or older, as well as their location and service area.
A retailer specializing in products that calm and soothe babies could zero in on new moms and dads who have bought colic medication. You have the capacity to engage with parents who are going through sleepless nights directly with targeted messages! Parents in such situations will greatly appreciate this. Your messages can be customized to speak about such problems directly and provide solutions for them.
The Greatest Ad Targeting Strategies on Facebook are Comprehensive and Diversified
When you are putting together a targeting strategy for your Facebook ads, you aren’t limited to one of the above choices – assess all of them and determine how they can accommodate each segment of your target market.
Create ideal customer personas – who are these people? Where are they located? What jobs do they have? What are their off-time activities? What characteristics and traits do they exhibit? How do these things line-up with the target perimeters mentioned above?
You can identify specific people to reach using effective ad targeting options and tools on Facebook, helping you be seen by people who matter.