It’s sad but true… marketers (& brands) usually completely overlook the most important people that drive the business – customers.
As in, existing customers. Those that have already shown trust, affinity and preference over other products towards yours (or your clients’). Individuals who have already been through whatever complex mind-blowing funnel you managed to concoct.
They buy – and I guess we kind of just assume they’ll buy again, or that the weekly email blasts will o their thing.
And if you’re in the ecommerce or online coaching/courses space, and you are guilty as charged of NOT having a funnel specifically for existing customers – you’re leaving money on the table.
On a recent FATC training call – Tom and I discussed some of the strategies, implications, and hacks behind re-activating existing customers.
We all know it’s cheaper to convert a hot lead (aka: a customer) than to take a cold lead through an entire funnel.
Rolling out repeat purchase funnel strategies means you will lower the overall CPA, increase results, and have a happier client on your hands.
So how do it work? There’s pretty much two simple “formulas” to this approach. Please note, the specific date ranges will vary vastly depending on your product, consumption length and how extreme you want to get with your retargeting stacks.
But here is the basic formula:
So you create a custom audience of people that purchased within a specified timeframe and another custom audience of people that purchased over a another period of time. You will basically deduct one from another to get to a specific timeframe of people that bought.
Here’s an example of what it would look like in your ad account:
In the above screenshot – we are basically targeting people that purchased 16-30 days ago.
WHAT DAYS SHOULD I PICK?
Well consider two important points:
- How long does it take for product delivery or consumption – it makes no sense to retarget someone with a “buy another one” or up sell if they haven’t even received the initial first purchase (hack: you can actually create dynamic custom audiences of people that received their products by connecting this with DHL)
- Consider the relevancy – if you are targeting someone that purchased a mini course about FB ads 180 days ago, it could very well be that the are no longer in the industry or space or interested in FB ads anymore. Make sure you consider relevancy when assigning timeframe windows.
Ok – so here’ where it gets fun.
To take this formula to the next level – either target or exclude a custom audience of people that have already purchased more than once from you.
You can set this up inside your Audience tab, here’s how:
Step #1: Create website custom audience
Step #2: Select “Purchase” event (r whatever event/custom conversion used to track sales)
Step #3: Click on “Refine By” and select “Aggregate Value”
Step #4: Select the frequency (so if you choose 2 that means people that triggered that event twice)
With this you can now ensure your retargeting campaigns is ONLY targeting those that have only bought once from you OR you can run a specific campaign targeting repeat purchase customers.
What could your creative be?
Here are just some examples, but whichever approach you choose, try to be a bit more informal with this audience – after all, they are your customers!
If you would like to listen to the entire training call replay with Tom & Cat – enroll in FATC private membership today.