When using tools like CDP, there is no retention fear for marketers at all. And therefore, you can bring in the x-mas purchasers again back to the funnel.
For example, if Charlie has purchased a cake for the X-mas on 20th Dec 2020, and now, you can re-warm and re-activate the funnel and tell “It’s Xmas time, we are ready to serve you again”.
Apparently, it is x-mas in a month. Yayy!!
➡️ Split your budget / Budget allocation
You can experiment by splitting your budget and allocating a 10-15% on your middle of the funnel. Your middle of the funnel is the ideal ICPs for your business. Experimenting and trials can produce great results.
For example, if you’ve 100K visitors and around 2000 converts, we can now strategize to activate the remaining 98000. With smaller segments, we can achieve smart personalization as well (like people who are interested in red shirts, 10-inch shoes, etc).
To all the marketers who have skipped the 4minutes read, here is a quick take-away.
It seems to be like every marketer is happy about the 2% conversion rate and does not really care about the remaining 98% of the users who are still in the funnel.
And the ignorance over the 98% of mid-funnel users is primarily because there is an assumption among the marketers that the re-targeting ad campaigns work only between 7-21 days and they find that the campaign performance drops after a certain period.
In today’s world of options and choices, the users are stuck in the loop of exploring more and evaluating the best. And 7days’ deadlines to make the decision of purchase is surely a nightmare.
However, these users stuck in the middle are our high-intent audience who is already in need and want to be served. A nudge with the proper understanding of the user would push them to the bottom of the funnel, unlike just throwing generic ads.
We shall use the influential factors to help the user make the decision. It can be either creating urgency or exclusive offers or providing social proof, etc. But to re-activate these mid-funnel users, we neither have a Facebook audience match rate nor anonymous user data as 80% of the website visitors are anonymous.
To serve both the needs in a single deed is First-Party data. Given the situation of privacy and security, we need to start collecting the first party which is anonymous user data, and also for improving the Facebook audience match rate.
Going forward, we are compelled to collect our own first-party data and experiment with our marketing strategies with rich and accurate data.