It’s an often cited statistic that only s single digit percentage of your website visitors convert to a lead on the first visit. Sounds pretty bad, no? The actual conversion percentage varies greatly on your website and industry vertical, but regardless, what can you do to improve those conversions?
One such tactic that helps close the sale after a customer has left your site is Remarketing.
Most businesses do have a sales cycle beyond the first interaction a customer has with a website. Some businesses convert same day, many others require weeks or months before a customer converts to a lead or sales. And generally the higher the investment a customer has to spend in the product or service, the more research and time it takes before she converts.
Regardless of what your average sales cycle is, maintaining a brand presence with the customer once they’ve left your website is a very important tactic to help close potential leads, and also to bring back existing customers for repeat sales throughout the year. As the old adage goes, “Out of site, out of mind.”
Below is a case study example of a retail services client with 3 brick-and-mortar locations in Houston. What we’re looking at is Facebook remarketing conversion data over a 30 day period.
I highlighted several areas:
- CTC: Click through conversion
- VTC: View through conversion, which is anyone that saw the ad on on Facebook but didn’t click, but returned within 30 days and did convert.
- Conv: Total conversions
Click through conversions is defined as someone that sees an ad or sponsored post on Facebook and clicks it and then converts to a lead once on the website (I’m defining conversion as anyone that submits a form). The second item is view through conversions, which are defined as anyone that sees your ad or sponsored post, doesn’t click, but returns to your website within 30 days and does convert to a lead.
So that’s 9 conversions total with a spend of $33.23 which means we paid $3.70 per conversion. The response rate is generally higher than what’s reported here, and cost per conversion is even lower when you consider that people generally prefer calling versus submitting a form on a site in the retail services niche at a 2:1 ratio and our data is only recording form submissions.
Of course the actual cost per conversion is not as straight forward as this since 8 of these people were view through conversions and the customers were probably influenced by other advertising, including Google Remarketing ads that were running (and we didn’t have call tracking in place).
Nonetheless, one of the most important points here is that people never had to visit your Facebook page, they only had to visit your website to be served ads in Facebook. Think of the impact and reach: people are visiting your site from other advertising and marketing tactics, SEO efforts, traditional marketing (newspaper ads, your business cards), email marketing, and you now can reach most of these people again on one of the most frequented sites on the web – Facebook.
For this case study we used Perfect Audience as the Facebook remarketing, but there are additional ways to implement Facebook remarketing that we’ll cover in another post.
Have you tried remarketing? What has been your experience. Got questions on how to set it up? Would appreciate any of your comments or questions below.
Photo credit: Nina Matthews @ flickr dot com