Hi All, Monika here the lead media buyer at DimNiko Agency. I recently set up an interesting retargeting campaign structure that I thought to share with you. Let me know what you think 🙂
The challenge we are facing with the brand is to show the most relevant ads for the right audience segments. The goal is to separate the existing customers from the audiences coming through the TOF campaigns that we are scaling.
In most brands, it’s not really an issue as the buying cycle is often longer than the usual BOF targeting timeframes. However in this case the returning customer rate is over 25% within a month and over 60% within 2 months.
I am always in favor of separating retention campaigns from BOF, but usually we don’t go that detailed like with this one, so I am super excited to see how it will go.
Should You Separate Your Retention Campaigns from BOF?
Most advertisers set up retargeting by separating and combining pixel events with time frames when the event took place. For example Pageviews in the last 7 days, to Added to Cart in the last 3 days etc. And excluding their existing customers, for example who purchased in the past 180 days.
This is a very common strategy and it is very effective for new customer acquisition. However in many cases the retargeting strategy is actually excluding the most valuable loyal customers.
In a good scenario the advertiser runs a separate retention campaign targeting everyone who has purchased in the last 180 days, but often Facebook is not used for retention and those customers that triggered the common retargeting events are left out.
Another common strategy that we also often use is when we only exclude audiences that are relevant for the actual adset. For example, an Added to Cart in the last 7 days adset will only have the exclusion of people that Purchased in the last 7 days. So if a returning customer added to cart in the last 7days, it will be included in the BOF campaign.
This strategy also has its advantages and disadvantages, but at least it’s including every prospect that is interested in buying.
Let’s Go Back to The “New” Strategy
We did set up a very detailed BOF CBO campaign with audiences as:
PV3 —> exclusion: ATC3, PU180 or/and customer lists
PV7 —> excl: PV3, ATC7, PU180 or/and customer lists
PV15 —> excl: PV7, ATC15, PU180 or/and customer lists
PV30 —> excl: PV15, ATC30, PU180 or/and customer lists
ATC3 —> excl: IC3, PU180 or/and customer lists
ATC7 —> excl: ATC3, IC7, PU180 or/and customer lists
ATC15 —> excl: ATC7, IC15, PU180 or/and customer lists
ATC30 —> excl: ATC15, IC30. PU180 or/and customer lists
IC7 —> excl: PU180 or/and customer lists
IC15 —> excl: IC7, PU180 or/and customer lists
IC30 —> excl: IC15, PU180 or/and customer lists
This campaign basically targets everyone who has been in the website from any traffic source, but never actually made a purchase. Can be of course simplified and have just 15/30 days segmentation.
Then we set up the same version, but for our existing customers which looked liked this:
PU180 or/and customer lists + PV7 —> excl: ATC7, PU7
PU180 or/and customer lists + PV15 —> excl: PV7, ATC15, PU15
PU180 or/and customer lists + PV30 —> excl: PV15, ATC30, PU30
PU180 or/and customer lists + ATC7 —> excl: PU7 IC7
PU180 or/and customer lists + ATC15 —> excl: ATC7, IC15, PU15
PU180 or/and customer lists + ATC30 —> excl: ATC15, IC30, PU30
PU180 or/and customer lists + IC15 —> excl: PU15
PU180 or/and customer lists + IC30 —> excl: IC15, PU30
So this campaign is making sure that we don’t forget about our loyal frequent customers. Additionally we did set up a pure retention campaign for all existing customers that did not visited our website over a month as:
PU180 + Existing customer lists when frequency= 1 —> excl: PV30
PU180 + Existing customer lists when frequency= 2-3 —> excl: PV30
PU180 + Existing customer lists when frequency= 4+ —> excl: PV30
Of course this segmentation only works and makes sense if you are scaling on TOF and you have products with short buying cycles, or high returning customers.
What Are We Expecting to Happen?
There are 2 very important aspects we are going to look into
- We can adjust our KPI’s and get a more precise overview on how much it costs to acquire a new customer, including the whole customer journey with TOF, MOF, BOF campaigns.
- We can customise the ads and the message for existing customers. Their buying motivation might be completely different than from a new customer who has never purchased before.
We are excited to gather some data on the campaign strategy and of course will share it with you the results!
If you’re spending over $500 a day and want to scale your brand
Book a call below:
>>> https://dimniko.com/msp-apply
Cheers,
Monika
