Remarketing is a way of following up with visitors that didn’t convert the first time they visited your site. For example, someone views your website, looks at products, yet fails to check out and make a purchase. This can be down to a number of reasons, such as the potential buyer becoming distracted or just simply choosing not to purchase at that particular time. Remarketing involves retargeting these customers with ads that are relevant to the pages or products they viewed on your site. These ads will be shown on other websites that the potential customer visits.
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Facebook remarketing works in exactly the same way – items recently browsed (either on third-party sites or Facebook itself) are displayed on Facebook the next time the viewer visits the site.
What is Facebook Exchange
Facebook Exchange is Facebook’s real-time bidding system that works together with advertising demand-side platforms or digital signal processing (DSP). The DSP enables online advertisers to use real-time bidding for ads and ensure that the best prices and the most effective placements are used for these ads, all in real-time. Below offers a little more information on how Facebook Exchange works:
- A viewer visits a site that uses a DSP already set up for Facebook Exchange.
- A cookie is dropped and the DSP contacts Facebook with the viewer’s anonymous details
- Customized ads are created and when the viewer next visits Facebook, the DSP is notified and allowed to put in a real-time bid to show the remarketing ads. The highest bidder gets to display the highly targeted ads.
The most useful thing about Facebook Exchange is the ability to use real-time bids. This means that a customer that has browsed a site, yet failed to purchase, is targeted very quickly. The quicker this happens, the more likely that it will convert to a sale.
Why use Facebook Remarketing
- It’s highly effective: Being able to customize and personalize marketing, in a relevant manner, is a fantastic way to re-capture your customers interest in your products. You already know that they have shown an interest in your site, so reminding them what you have to offer is a great way to convert sales previously lost. The important thing here is relevancy – these people have shown an interest in your page, so you already have a captive audience.
- It’s not just about business: Many company’s want to promote their own personal pages, without financial gain. Facebook Remarketing works in the same way. If someone likes your Facebook page, for example, you can show them reminders of your page at a later date. The DSP can use information either from a third-party website or from Facebook itself.
- Huge audience: Let’s not forget that Facebook is one of the biggest social media sites, with millions of potential viewers. People don’t necessarily visit Facebook in a buying mood, but if you can attract a potential customer’s attention while they are idly browsing, then you will likely convert some of the sales that you previously failed to close.