EP10: Facebook and Retargeting with Seth Pennington and Glen Hoddinott

ProfitLayer with Timothy Dick - Business building explored layer by layer.

“Organic and paid marketing are exactly the same. You pay for organic with time, and paid with money.”- Glen Hoddinott (39:25-39:30)

When organic marketing isn’t enough, marketers look to paid ads on Google, Facebook, and other platforms. Facebook marketing is still one of the most effective ways for businesses to share their messages with their audiences. Retargeting strategies make it easy for you to reach more of the right customers with the right messages at the right times.

Seth Pennington and Glen Hoddinott are two of the top media buyers at ProfitLayer with years of experience managing large marketing campaigns. Their success comes from understanding the importance of diversity in marketing. In order to succeed, businesses need to expand their marketing and find other profitable channels both online and offline.

“Initial cold marketing convinces the audience that your product works. Retargeting tells them why it will work for them, while building trust to close the deal.” - Seth Pennington (27:18-27:36)Retargeting lets you appear in front of users who have seen your ads and visited your website and other marketing assets. It’s now extremely affordable to keep your business in front of people when you know how to implement retargeting campaigns.

Retargeting Lets You Identify the Most Profitable Target Audiences

There are too many factors that influence your audience’s response. Assuming that an ad or sales funnel has failed might cause you to pull the plug too early. Retargeting solves this problem by letting you appear in front of users who have seen you and are interested in your business. Many business owners run expensive cold traffic ads on Facebook for years before they set up a retargeting campaign. They think retargeting is too complicated. But in fact, you can get started by dropping a pixel on all of your online assets to help measure your Facebook ads and identify your target audience.

Using the Facebook Ads Manager, you can market to anyone who’s visited your online assets. There’s no need for advanced segmentation. The goal is to remind people who have already seen you that you’re still there. You don’t need to allocate a large portion of your marketing budget either.

“You can make a living on organic traffic. But when you start to value your time more than your money, you want to already be set up to pay for advertising.” - Nic Peterson (40:15-40:30)

Seth and Glen recommend starting with 10% of what you’re already spending on all your traffic. You’ll need to analyze and adjust the frequency of your marketing for the best results. Facebook assigns a quality score to every Facebook page and ad account. High-frequency marketing may annoy users, causing Facebook to give you a low quality score. This could cost you more to advertise in the future. Keeping your quality score high is essential to long-term retargeting success.

You’ll need to determine what messages to send to your audience. If a user has already seen your offer, then case studies and testimonials may be the most effective tools for moving them further into your sales process. If they’ve not seen the offer, then use your best performing ad. So understanding who you’re reaching is essential to getting the best results from your Facebook and retargeting strategies.

Retargeting is one of the most effective ways to reach a larger audience and gain a leading edge over your competitors. It lets you address an individual’s pain points at each point in the process. You let them know why your product or service will work for them while building greater trust in your business.

Today’s marketer needs to understand paid advertising long before they get to the point where they need it. Most people focus on organic marketing because it’s less costly. But organic and paid marketing each have a price. With paid marketing, the cost is money. But with organic you pay with your time. The successful entrepreneur is one who gets to a place where they value their time more than their money. Paid Facebook advertising and retargeting leverages the behaviors of your audience so you achieve maximum and predictable results at lower costs for higher profits.

How to get involvedIf you would like more information about Timothy Dick, and the success businesses have gained through work with him, please visit his website.