But we miss these middle of the funnel high intent audience group.
These visitors can be re-activated and not re-targeted again after 5-6months. People buy jewelry, clothes, accessories very often in the interval of 2-3months. Marketers just need to re-activate and remind the intent of the user to buy. You can check out Google’s article on the “messy middle” of the purchase journey to know the power of the middle of the funnel.
Strategy 2: Bring the first-time purchasers back into the funnel
Amazon is known for its recommendations based on the purchase history and personalization based on the purchaser’s behavior.
A user who buys a red shirt 3 months before has better chances to buy another shirt/t-shirt in the interval of 3-6months. By utilizing the power of personalization, we can re-activate the first-time buyers and can bring them back to the funnel to improve. This in turn helps to improve the overall customer lifetime value. Check this out to improve the LifeTime Value of the customer.
After achieving the standard 2% conversions rates. In general, marketers run retargeting campaigns (7-21 days) for the rest 98% of the audience.
The catch here is after retargeting them for a specific period of time (7-21 days). This huge pool of intent audience (98% visitors) is left behind forever, unutilized.
Even if you want to re-activate these users who are stuck in the middle of the funnel, Facebook gives a heart attack with a match rate of less than 30%. Due to this poor audience match rate, you won’t be able to reach the right audience with a personalized message. This impacts the overall efficiency of your ad campaigns and in turn, reduces your ROAS as well.
Since we have the iOS’14 update already in place and also we got Google’s announcement of phasing out third-party cookies, it is high time we start collecting our own data which is First-Party data.
By properly utilizing the first-party data, you can achieve an optimum custom audience match rate beyond 80%.
With the help of a Customer Data Platform like CustomerLabs, you can effectively create various audience sub-segments to engage and run personalized ad campaigns on Facebook, Google ad platforms.
Now you can say hi to your Jim and Tim.