Marketers, who rely heavily on Facebook retargeting advertising, are missing out on great opportunities to find new customers, leaving out a cool audience on Facebook.
Retargeting allows brands to rely on well-established content marketing efforts, such as a blog, video, podcasting and more, to attract potential customers. The work aimed at creating clean sources of traffic allows companies to focus on the audience that is already warm and getting to know their brand. Then brands can use the attention they are already attracting to direct a warm audience towards buying.
Although retargeting seems to be cost effective, each of these initiatives actually takes a lot of time and effort. Many small businesses do not have a blog, podcast, or email list to attract large numbers of people. They also do not have the resources to deliver these types of assets.
Using Facebook ads to find new customers
An alternative to creating a huge amount of content in advance is to use Facebook ads to attract cold traffic. Brands either pay with their time and rush to the market to an established audience, or set aside an advertising budget in order to collect the same amount of data that can be used to attract a new cool audience.
A cold audience probably has no idea who you are, which means that you can begin the process of ideological processing immediately and quickly. Think about how to target a cool Facebook audience.
Set a budget specifically for targeting and experimenting with cold audiences. Testing a new audience allows you to determine conversion rates and costs associated with acquiring a new customer. After you have determined your price for a single customer, you will know what you need to get even more new customers in the future.
We add that the calculation of the conversion rate for a cold audience suggests that a warm audience can convert at a higher rate. As a result, testing cold audience on Facebook will also reduce your overall costs in the long run.
Use an organic audience to understand a cold audience
Every marketing effort you put into a warm audience allows you to better understand your target market and contributes to the success of your advertising with cold traffic in the future. If the post on the page does not interest the previously “heated” audience, it most likely will not resonate with a cold audience.
Test new products or advertisements with your well-established audience before putting them in front of a cold audience to see if it is interesting.
Determining who to focus on with cool Facebook ads
Every time you click on a product or service that is similar to yours, Facebook Insights provides more recommendations, pages and interests, but which one you choose will ultimately remain an intrigue.
Even with accurate targeting to the audience of your competitors will not give any guarantee that your cold advertising will definitely work well.
However, there are several tools and techniques that you can use to determine who and how to navigate with the cold Facebook advertising.
Use Facebook Audience Insights
Facebook Audience Insights, which can be found in Facebook Advertising Manager, offers extensive information and data that can be a starting point for creating a cool audience on Facebook. Collecting as much data as possible from demographic and interest categories on the platform, Facebook Audience Insights provides a general ranking for target audiences.
Facebook Audience Insights also uses actions to enable and disable Facebook data and third-party data to indicate the number of advertisements in a month that people click on who have a similar binding to a specific interest.
We advise you to sort your table in descending order based on the number of user clicks per month and focus on topics that are approximately at the 75th percentile. Interests at the top tend to be spam, dubious or just too broad.
Finding Top Facebook Audience Interests on Instagram
After you have defined your 10–20 interests, go to Instagram and follow their profiles. By following them, Instagram recommends you similar people or profiles. These may be additional target audiences that you may not have previously reviewed or that Facebook has not offered you.
To visualize this, let's say you sell a child's toy. First you go to Facebook Audience Insights and delve into categories of children and key demographic data for your ideal clients. Use them to develop ad campaigns to check your ads. You should be able to generate about 10 different interests depending on how these people react to your ads.
If one of these interests for your product is “Mama on maternity leave”, which is, say, a popular blog for parents, you can subscribe to “Mama on maternity leave” on Instagram. Once you do this, Instagram will automatically start displaying similar topics and blogs.
Set audience size and budget
When it comes to the ideal audience size, every Facebook advertiser has a response. We recommend starting with a specific, niche audience from 100,000 to about a million.
When you set up a campaign, choose from two to five interests to first test a cold audience. Check each interest group separately, and do not combine them until you know how each variable works. Testing each set of ads by interests individually allows you to understand exactly what can be successful and what is not. Once you know what works, you can group targeting by interest and start testing your ad.
Once you have found the perfect audience and are ready to test your creatives, limit the variables when it comes to your ads. Displaying the same ad for all three to five target audiences allows you to highlight what you are testing, and quickly exclude what doesn't work in your test.
Measuring Cold Campaigns on Facebook
When testing your ads, consider everything from the ad itself to the clickthrough rate, cost per click and number of clicks. This data shows how your ads resonate with your target audience.
Measure clickthrough rate
A strong ad usually gets a CTR of 1.5 or higher on the news feed. If your clickthrough rate is below 1.5, this is usually an indication that your audience does not match the message you post to them.
Note that this applies only to advertising in news feeds, but not to ads in the right column of Facebook. Ads on the right side naturally don’t get as many clicks, but their cost per thousand impressions is also much lower to compensate for the lack of performance.
You can optionally show ads in all placements at the beginning of the testing phase. Try stories, news feeds and even the right column to further optimize placements.
In addition to measuring clicks on your various ads and ad placements, you should also measure the activity that occurs after people click on your ad. This is the number of people visiting the page, choosing your service or making purchases.
If you find that advertising causes a lot of clicks, but not many sales, continue to show it until the end of the sales cycle. Some sales cycles may take more than a month.
A cold audience is a new sales perspective, but you need to understand that receiving it requires a lot of resources, including a considerable budget and professional targeting specialists. Therefore, if you decide to capture this audience - contact us!