Category: Announcements

Facebook is much more than the most popular social media platform worldwide; it’s also where 86.8 percent of U.S. marketers create and distribute quality content, strengthen their online presence, and generate qualified leads. However, as Facebook’s advertising capabilities have become increasingly robust and versatile in nature, many businesses have said that the platform often feels overwhelming or confusing. Between a wide range of audience parameters, 11 advertising objectives, and five ad formats, it’s easy to see why some brands are struggling to wrap their minds around running a successful ad campaign. To remove some of the guesswork from this process and provide insight into what’s worked for us here at LEVERAGE, this article will explore one of the most effective Facebook advertising tactics you can implement: Retargeting.

Reconnect With Interested Customers Via Retargeting

Retargeting is an online advertising tactic that enables you to keep your brand front and center with prospective customers who have shown an interest in your products or services previously, based on their online activity. This could be visiting your website, adding something to their cart, or simply leaving a like on your Facebook page. This form of advertising is one of the most effective tactics in terms of supercharging your marketing ROI because you’re only showing advertisements to people who have already shown an interest in your business and, thus, are more likely to convert. 

Since only a small percentage of website visitors are likely to make a purchase or inquire about a service on their first visit, retargeting greatly increases the probability that they will return to your website to complete the process. With Facebook’s advertising platform, you can accomplish this by either installing a piece of code that helps track conversions and optimize ads on your website (Facebook Pixel) or by uploading a list of existing contacts from your database.

Attract New Customers Likely to Be Interested in Your Brand with Lookalike Audiences

Once you’ve established an audience of interested customers who have previously interacted with your brand, you can use a Lookalike Audience to reach new people who are likely to be interested because they’re similar to those who have already expressed interest. Essentially, you’re identifying common qualities of the people in your source audience and delivering your advertisement to those consumers to generate a wider, new audience. The better data you provide and the more information you have about your source audience, the better your results will be.

With these two advertising tactics, strong messaging, and a compelling offer, you’re bound to recapture previously lost opportunities and attract new leads likely to convert in the future.

Are you driving a lot of qualified leads, but they don’t seem to be converting? One possible reason for this is that you may be using the same sales strategy with top and middle of funnel leads that you use with bottom of funnel leads.

Whereas bottom of funnel leads are typically ready to make a purchase decision, top and middle of funnel leads require more nurturing and more touches before making a purchase. Top of funnel leads are in the research phase. They’re still trying to figure out what exactly they want, and who to buy it from. They’re far from making a purchase decision. Middle of funnel leads are more informed than top of funnel leads, and have likely narrowed down their consideration set, but are still evaluating options before making a decision.

If someone finds you on Google because they searched for your offering specifically, they’re likely a bottom of funnel lead, and there’s a good chance you’ll be able to close them fairly quickly. This is one of the reasons we love SEO and paid search advertising. It’s incredibly effective at driving motivated bottom of funnel leads. However, if someone finds you on Facebook because they stumble across your ad in their newsfeed, it’s likely they are a top or middle of funnel lead. Facebook advertising and social media advertising in general is also very effective, but more so for generating awareness and driving top of funnel traffic.

In the Google example, you may be able to close that lead on the first call, or at least advance them to the proposal stage. However, in the Facebook example, a completely different approach must be taken. Rather than trying to close the lead or advance them to the proposal stage on the first call, the goal should be to get as much information as possible about them, assess their needs, and determine how you can best serve them.

Then, have a follow-up process in place to help nurture the relationship, and ensure that you remain top of mind, while the prospect works their way through the funnel. Depending on your sales cycle, this process might take days, weeks, or even months. Certain marketing tactics, such as retargeting and email marketing, can help increase touch points and nurture the relationship. Combining these tactics with personalized email outreach and follow ups by phone can also be very effective.

Finally, it’s critical to understand that just because a lead isn’t ready to buy today, doesn’t mean they aren’t qualified. They just have to be nurtured. Mislabelling qualified leads as unqualified because they weren’t ready to convert after the first touch is a huge mistake, and can cost your business opportunities. If you have enough of these leads in your pipeline, and they’re nurtured effectively, a percentage of them will convert, adding another source of new business in addition to the bottom of funnel leads you’re accustomed to working with.

As a business owner, you can adapt and thrive during times of uncertainty. 

One of the things I’ve noticed companies doing is that they’re taking their eye off the ball in terms of generating revenue. This is because they are so focused on cost-cutting and borrowing. 

The Time to Generate Revenue is Now

Both of these things are necessary at this time. Companies have to contract and reduce costs and, where necessary, borrow in order to remain cash flow positive. But that should not be in lieu of generating revenue. Revenue generation should be just as important now as it was prior to the pandemic. 

This is an issue that companies are failing to recognize. Just because times are tough and we are stuck in our home doesn’t mean we can’t still generate revenue. You just have to figure out how and pivot and look for those opportunities within your specific business.

• One way to continue generating revenue is by taking care of your existing customers. Make sure sure you’re continuing to provide them with value.
• Another way is to reallocate your short-term marketing budgets you had set aside for tradeshows and conferences and apply that to digital marketing. 

Although demand for services has declined, it’s not like it’s nonexistent. People are still buying; where they were once buying in person, they’re now buying online. You have to be present when they are searching for your product or service offering.

Ramping Up Virtual Consultations

One of the things we’re having a lot of success with and seeing our clients have a lot of success with is consultations. Instead of doing in-person consultations onsite, they are doing virtual consultations using Zoom, UberConference, or GoToMeeting. We are also seeing seminars being conducted virtually. Where a seminar may have been conducted in-person, now they are being done virtually and with great success.

The opportunities are there. You just have to take a step back, assess your current situation, and think about the needs of your customers and how you can meet those needs even though you may not be able to physically be in front of them when you do.