We’re always looking for innovative ways to drive sales.
One simple step which people often overlook is the potential purchasing power of your existing audience. It can be expensive to market to people who know nothing about your product, but less expensive to increase the lifetime value of your existing customers.
When Facebook first released their custom audiences advertising feature, results poured in rapidly. One e-commerce company, as reported at the time by TechCrunch, targeted their email list and recorded a 43 percent increase in sign-up conversion and a 30 percent decrease of their cost-per-lead.
The Washington Post’s advertising arm, SocialCode, also reported a 15 percent lower cost per new fan after using custom audiences.
Using custom audiences and Facebook retargeting to activate people who have previously shown interest in your product is a strategy which works.