Set up remarketing campaigns on Facebook
1. Decide on the Facebook pixel event prospects that you want to remarket.
One strategy is to target prospects at the bottom of the funnel, like add to cart or initiate checkout, as these prospects have shown interest in your product, but you could target any event on your page. Another strategy is to start the retargeting at the top of the funnel, for example, after someone has interacted with an advertisement, watched a video more than 50%, or simply engaged with your posts.
2. Create the remarketing campaign as you did for cold traffic, but this time use a traffic objective with a small budget of $5-10 for the ad set.
The budget amount depends on the audience size. If we are operating with a small audience of a couple of hundred people, the budget should be low: $5-10. If the budget is set too high, the frequency grows exponentially and harms the ad’s performance.
3. In the Ads Manager under Business Tools > Audiences, click on Create a Custom Audience. Define a remarketing audience, based on the pixel event that you want to use.
Select specific page or pixel events and the number of days in the past that this audience should include. This audience will be dynamic, which means that people in the audience will change when new traffic is coming to your website. Name the audience with a descriptive name like page views 14 days, and save it.
4. Click on Create a Custom Audience and define an exclusion audience based on events that you want to exclude from targeting, like purchase.
You don’t want to remarket to people that have already bought. Select Source, such as your website or app. Select Purchase from the Events type drop-down list, and number of days as a defining factor of your audience, name, and save it.
5. Set a target location and leave interest targeting blank.
Other targeting options – such as demographic options – should be left broad, as this data is already determined in the custom audience.
6. Write copy for the remarketing ad by meeting your prospect at the stage at which they left, when previously engaged with your brand.
Include more features and benefits of the product or service at the top of the funnel. Target events like initiate checkout, or add to cart, for bottom of the funnel. The ad copy should include more social proof, trust inspiring stories, and testimonials.
7. Use footage and images that are congruent with the creatives used in your campaigns to cold audiences.
Use more testimonials to express social proof for bottom of the funnel remarketing, and more features and benefits for top of the funnel remarketing
8. Create the ad in a new retargeting campaign, on the ad level, using ad copy and creatives that you have created for this remarketing campaign, and publish the ad.
9. Monitor the frequency of the ad and keep it within 2-4 times displayed to the same people. If it goes above 4, lower the budget. If it's under 2, gradually increase the budget.
If the same people see your ad too many times, they could start reporting it, which will negatively affect your ad performance. Large audiences are more likely to suffer from low frequency.