Organic reach dwindling as marketing costs rise? A strong ad retargeting strategy could be your best bet.
Earlier this year, we reported on the changes to Facebook’s algorithm that were designed to prioritize content from friends and family over content from businesses. We speculated this would be a death knell for organic reach and could alienate some of the live events marketers that once enjoyed consistent returns.
A lot has happened since then—namely the unearthing of a huge data breach and a potent #deletefacebook campaign that warned of an imminent exodus from the platform—and festivals and live events are being forced to make major tweaks to their marketing strategies mid-campaign and look for value beyond Facebook.
Ad retargeting is set to play a key role in the next phase of live event marketing. With so much actionable data being syphoned from every customer impression, event marketers should be trying to synchronize their channels and start using their data to keep delivering fans with the right ad at the right moment.
“At Electric Zoo, we’ve had a huge amount of success with ad retargeting over the years. It is a very important part of the puzzle and should be done across all platforms for any festival or live event.” – Michael Julian, Chief Marketing Officer for NYC festival Electric Zoo.
Feathr is a Florida-based start-up that specializes in running multi-faceted live event marketing campaigns. Ad retargeting is their bread and butter, and they have just published a handy guide that gives a comprehensive overview of ad retargeting theory for festival marketers, supplemented by some great tips on how to bring cohesion to modern, multi-platform strategies.
Here are three key takeaways from their guide, which you can download here.
Diversify your festival marketing strategy
If we can take one lesson from the past few years of digital marketing, it’s that you shouldn’t allow your event to become beholden to a single platform. Not only does it put you at the mercy of changes to their policy, objectives or algorithms, it’s out of step with how people digest information today.
At the core of Feathr’s document is the idea that people have become overwhelmed with the amount of information being delivered to them on a daily basis, and the only way you’re going to break through is by hitting them across multiple channels, over and over again.
Stop thinking that banners are supposed to be clicked
It seems like we all need to stop thinking about banner ads as things that people click. With CTR (click-through-rates) as low as 0.05% on first viewing, it’s better to think about banner ads as dynamic billboards designed to impart information as you cruise along the superhighway.
Feathr’s report outlines a multi-faceted marketing strategy in which banners play a key role in raising awareness and that, when combined with avenues like email marketing and social targeting, they can play a really effective—if not particularly sexy—role.
Take the time to really segment your audience
Perhaps the biggest takeaway for us from this guide was that your campaign will live and die by your audience segmentation.
Using all of the data that you’re gathering to build the most accurate picture of your prospects—which includes what they like, location, and their up-to-date position in the sales funnel—will make your life so much easier and your campaign that much more efficient.
Accurate segmentation will allow you to deliver “the right ad for the right person at the right time” and will stop you from blasting through your budget on people that are unlikely to come to your event.