If your goal is to increase conversions, consider retargeting lists of users or subscribers and especially your golden eggs, those who have purchased previously.
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The First is Potential customers
Your business will have attracted traffic through many channels; website traffic and visitors, newsletter subscribers or phone leads who have engaged with you, at some point been interested in what you offer but have to date, failed to make a purchase. Use them to create a list of prospects that you can encourage, educate and lead to buy with ads, promotions and extra incentives. These people are already warm, so spend more time and resources on these who will convert typically, 50-60% better than cold leads. Give them for example, free shipping on orders over $10 or showcase your most popular items to them.
The Second but often overlooked and undervalued is the existing Customer base
Any CRM worth it’s salt can be used to extract the customers who have purchased recently say, within the last 6 months. Build this list of customers who have purchased recently and display to them relevant products, warranties, accessories so they may be attracted to buy those as an upsell. They are clearly interested in that “type” of product and trust you enough to part with their money so, what a great list to target. Many companies don’t employ strategies for upselling to existing customers but by far they are the easiest to convert.
Take high-velocity customers and give them every reason to come back and buy again. These are loyal customers and placed multiple orders in the last 6 to 12 months. A simple voucher or incentive does 2 things, shows your gratitude for their patronage but also gives them an incentive to shop again. They love you, trust you will deliver and provide them with a service that they enjoy enough to buy more than once. So, treat these customers like family. Give them special discounts but it could be a high margin for you too by upselling early access to new products or branded merchandise andlimited-edition products.
The Classic abandon cart or lapsed customer
For a third and lucrative group of prospects, you should target with your ads are those who have not made a purchase. They could have gone as far as to place items in the shopping cart or subscribed to your newsletter, but they have not made the final step of checking out for whatever reason. Buyer’s remorse, difficult checkout process, or payment option not available. Hit these users up with a strong incentive to cross the line, for example, a 25% discount if they checkout now or a limited time offer of free shipping on all orders. Something that will be the straw that breaks the camel’s back. They were close and almost ready to commit but just need an extra nudge so naturally are better conversion prospects than cold customers.