Brief History of Retargeting:
Retargeting 1.0 = Placing a Pixel – 95% who use retargeting are doing this
Retargeting 2.0 = Segmenting Pixels – 4.9999% who use retargeting are doing this (A little extra work can save 50% of your budget while increasing profits)
Retargeting 3.0 = Laddering Pixels – 0.0001% who use retargeting are doing this. (Probably less as I am just sharing it with the world)
(updated to 4.0 = Pareto Pixeling – no one yet…my clients soon. Based on a conversation and thus named by Jermaine Griggs and explained another day)
I named it: The Retargeting Ladder (the creator gets naming rights :))
What You Need to Know:
– Your numbers (CPA, CPC, CLV, Cost Per Impression etc)
How it works:
1. Have between 2 and 10 pixels/lists (These are your “rungs on the ladder”)
2. Place them across the site (Use Retargeting 2.0)
Your Budget for getting a person back to the site… spend accordingly.
During the first 1 – 12 hours after a prospect is pixeled increase your spend to be 70% of your allocated budget.
(i.e. if you have a budget of $10 spend $7 within this timeframe.)
During the next 12 hours decrease your spend by 20%.
For the next 48 hours (24 – 72 hours) decrease your spend 20%.
The 3 to 7 days spend 5% of your budget.
Allocate the final % on the forever pixel(s) and use these for Branding etc.
The interesting part is that most people will already be following a similar schedule to come back to your site… the change is your willingness to spend significantly using recency/time as a factor.
The more recent the more you should spend.
The longer the less you should spend to acquire a customer.
A simplified way to say it is to strike (pay more) when the iron is hot (always hottest coming out of the furnance/on your site)
While this is an “advanced” strategy, those who implement it will have the razors edge advantage on those just doing retargeting 1.0 or 2.0.
*bonus for those who read this far is to modify your ads based on each “rung” of the ladder (including message and offer etc)*