Real-time behavior beats demographic targeting almost every time and will add significantly to your bottom line fast. Based on the way we’ve seen the Facebook and Google Look-alike algorithm work, Look-alike Audiences really should be called Behave-alike Audiences because behavior and time have become the dominant factors in determining who’s in the market for any specific product or service.
Marketing 101 has taught us to build, learn, know, and target the perfect customer Avatar or Persona. Why? Because it makes sense. This is why the great majority of marketers focus on building their Facebook and Google Ad custom audiences with very specific demographic and behavioral data. In this blog post you’ll discover why demographic targeting, essentially using disconnected data, non real-time data is producing much higher acquisition costs. In addition, we’ll also be sharing why using the Facebook and Google retargeting pixel is probably increasing your cost. If you’re not using Facebook and Google retargeting pixels in a very specific manner you’re paying far too much for clicks, leads and customers.
Using Your CRM & Customer Data
Your first party CRM or Customer data is an obvious and solid strategy to target better and lower your acquisition costs. The main challenges to consider when using these strategies.
- You need to build these audiences in real-time. Not weeks or months apart with aging data. Any data set that is not real-time will experience data decay.
- Data-set volume, everyday you need to create enough volume to meet the minimum custom audiences thresholds.
Overcome the above challenges and you’ll be cranking out home runs left and right with your CRM and Customer data. The downside to falling short is that you’ll be paying much more for clicks, leads and customers.
Let’s say you’re marketing bed mattresses. Each month you upload the list of customers who purchased from the previous month. Thinking, what’s better than your customer list when looking to create a similar or look-alike audience. Remember, “look”-alike equates to demographics. You want to target behavior, people who are currently looking for a mattress right now in real-time. Your old customer list has already bought and is currently no longer behaving as they did before they bought from you.
It’s not just about who’s in the market. It’s also about when someone is in the market.
Using The Facebook and Google Retargeting Pixel
Of course, absolutely every marketer should be using the Facebook and Google retargeting Pixel. Why? Because it works. However, there are a few downside pitfalls to avoid or rather strategies to help you get the most out of your Facebook and Google Retargeting budget.
Facebook and Google retargeting come at a premium cost because they work so well. When using the Facebook and Google retargeting pixel in combination with the IDENTYO pixel we recommend you limit your daily budget and add a frequency cap. If you do not, you’ll be paying far too much for clicks, leads and customers. On the upside, we’ll be acquiring those same audiences for much less with IDENTYO.
Also, keep in mind that you’re retargeting data inside Facebook and Google are not portable. Using IDENTYO we can build those exact same audiences in numerous other ad platforms and do it in real-time too.
