5 reliable audiences targeting strategies to increase the accuracy of your advertisements
Reprinted from cifnews
Did you know that you can target your audience on Facebook with a dozen different ad types and thousands of possible ad targeting parameters?
Mastering Facebook's targeting strategy allows you to find highly specific and active audiences on this social network that spends an average of 40 minutes a day on the Americans, which can greatly increase conversion rates. This article may be a powerful Facebook ad targeting strategy that you haven't heard yet.
1. Analyze customer characteristics from purchase behavior
In the early days, Facebook was criticized by advertising analysts as the "just an interesting place to post ads, this is basically a network platform without commercial intention or potential consumer insight." In early 2013, Facebook established a partnership with data brokers at Epsilon, Acxiom and Datalogix, and the situation began to change.
These partner companies can access up to trillions of data transaction information each year. According to Acxiom executives, the database alone contains information about 500 million active consumers worldwide, with an average of 1,500 data points per person.
Suddenly, Facebook became a gathering place for data, knowing more than how much time you spent in Farmville or Candy Crush Saga. Are you getting married soon? Are you taking high blood pressure medications? Do you like to read about mysterious murders? Facebook may know it.
This allows advertisers to access more information outside of their CRM database and is able to collect data that matches individual user profiles using various customer loyalty programs (such as membership cards). Facebook advertisers can use this data to target and segment audiences through thousands of different buying behaviors.
Facebook displays the quantity of targeted user profiles in each subcategory to the advertiser based on aggregated, multi-source offline transaction data.
The options here are unlimited.Try to explore and see!
2. Seize the consumer demand and increase the advertising conversion rate
Some businesses or activities are based on user needs, aiming to sell their goods to people who are or are about to experience some major life events. For example, funeral homes obviously want to be associated with people who plan to hold funerals, and those who are terminally ill or who have lost loved ones. The advertising information of moving service will appear to people who have just moved to a new house or apartment. The look of a wedding photographer, of course, is aimed at new comers who are engaged. These are the marketing behaviors that are common to target audiences in the usual offline promotion. On Facebook, they can also target audiences through important life events and achieve effective online advertising.
On Facebook, there are almost all life event targeting options you can think of because users tend to share these life content on their timeline.
The parameters of Life Events are unique because advertisers can choose to advertise their target audience at specific time intervals after the user's life status changes. For example, a jewelry company, obviously, they are more interested in users who may have their first wedding anniversary. They can focus the newly-married couple a year ago as a target audience, making the flexible ad serving interval every 3 Months, 6 months, or 1 year to show ads that users may be interested in.
3. Discover potential customers and build brand loyalty
Facebook Custom Audience is an advanced feature that helps advertisers to connect with users who have interacted with their ads. To enhance the brand image and awareness, and also to help advertisers achieve the customer's lifetime value, they should understand the existing customers and potential users on the application platform on the user's favorite social network. In addition, it allows to increase the order frequency and cultivate customers loyalty.
Custom audiences also have another usage—it helps advertisers to improve the effectiveness of campaigns by excluding existing customer lists and avoid wasting clicks. For example, if an advertiser wants to offer a new trial to a new user, there is no reason to show the advertised content to their loyal customers.
Advertisers can create a custom audience by uploading a list of customer calls, buyers, or subscribers' email lists to Facebook in CSV or TXT file format. Also, they can focus on their site visitors (and specific pages visited on the site) or user information that performs specific actions in the advertiser's game/app.
Then, use other targeting parameters to target your audience more accurately or exclude audiences across the entire list, so you can serve ads to new users. Or set it to a specific sub-list to make it an ideal Facebook audience list.
This is really amazing!Advertisers can know who can afford higher value products. In addition,advertisers can locate users who visit their company's homepage and offer them an opportunity for trial experience. These users already know your brand name and are interested in visiting your website, but have not yet converted. Facebook ads for custom audiences can close the gap.
4. Create a similar audience list and expand your advertising reach
Once the advertisers have a good custom audience targeting strategy, the similar audience (Lookalike Audiences) is of course the next step in the audience positioning. Even if some advertiser doesn't have his own customer email or phone list, he can expand the range of ads that have not been covered by creating a similar audience list against his Facebook fan base. And users who are targeted by similar audiences are still a target group with highly specific characteristics.
If you don't have a contact list or enough Facebook fan base, you can also use Facebook Tracking Pixel to create a similar audience with creating a custom audience for your site.
Once you've determined that you want to replicate and expand your audience, you can make your audience larger(wider) or smaller (more specific, similar to the original audience). At the most similar level, Facebook will find the top 1% users with similar characteristics in the advertiser's target country. Conversely, if an advertiser wants to optimize ad coverage, Facebook will serve ads to 10% of the most lookalike audiences in the targeted countries it has set.
5. Hierarchical audience targeting, ultra-precise ad serving
The really powerful feature of Facebook advertising is the ability to overlay target options and gradually make the advertiser's audience more specific. Last year, Ad Week had an extreme(and hilarious) over-targeting case when a marketing expert put all sorts of extremely accurate advertising content on his roommate. As a result, his roommate thought he was being eavesdropped by the Internet.
Yes, you can use a combination of behavior, demographics, and geo location data to reduce your audience to just one person. However, for advertisers, it's more useful to create smaller audiences through Facebook data combinations that can help their advertising creatives and offers be more accurate and granular.
For example, a moving company that offers special discounts for the elderly can target at people who have purchased a home in the last month, aged 60 or older and locate the district in their service area.
If you have a more complete understanding of the buying intent, life needs and the likelihood that they will be advertised for specific audiences, you can use Facebook ads to target tier options and put their needs, data, etc. one by one. Target audience targeting in audience stratification.
Summary: Diversified ad targeting strategy to ensure comprehensive audience positioning.
Remember! When determining the Facebook ad targeting strategy, you don't have to stick to any of the above methods; you can try each positioning method to see which positioning method is more suitable for your target market.
Create user portraits for your ideal customers - who are they? Where do they live? What is their job content?And what did they do after work? What characteristics do they have and whether they are consistent with the target parameters you listed?
Determining what type of audiences you want to target will help you better use Facebook ad targeting tools and options to better and more accurately present your ad content.