The 111x ROAS Retargeting Strategy
Why Retargeting matters for any business niche.
It’s been a week since my last post at the airport, so here’s a new one to inspire all of you today.
We’ve been really lucky to work with one of the biggest coach training companies in the world and we recently crossed over the $1.3M mark from $75K in ad spend on Facebook alone, averaging about 16.3x net ROAS.
I wanted to share one of my favorite retargeting strategies which we implemented around November last year on a fairly small audience size of 10K and have seen pretty good returns. At $1.8K spend we generated around $200K, which is about 111x net ROAS.
Here’s how it works in detail. We broke our retargeting into 6 phases and showed them a different ad in each phase:
- Days 1 to 3
- Days 4 to 7
- Days 8 to 11
- Days 12 to 15
- Days 16 to 19
- Days 20 to 21
DAYS 1 TO 3
This is the most critical period because people are ready to pull the trigger.
In this period, we lead by:
- Reinforcing our authority (“we trained XX,XXX coaches in the last XX years”),
- Addressing potential objections (e.g. gave examples of the kinds of background our students came from so that people can relate),
- And attributing the success to the course we’re promoting (e.g. one of the cornerstone courses that has continuously exceeded expectations is X)
DAYS 4 TO 7
If people didn’t buy in the first 3 days, they’re less likely to pull the trigger now, but that doesn’t mean they won’t.
There are dozens of reasons why people don’t buy, so we line all of the reasons up, pick the most important ones, then feature them one at a time.
In the 2nd phase, we use the “common enemy” strategy by positioning against “outsiders”. (e.g. “Outsiders believe that coaching is about XYZ, but what they don’t know is ABC”).
We’re not doing this to convince people to buy. We’re preaching to the choir and saying something they already believe in, so that we can build common ground and get them to shout “yes!” in their heads. We use this to lead into our product and conclude with an exercise to imagine a better world with us.
DAYS 8 TO 11
In this period, we showed a video testimonial and the copy started with a quote from the testimonial.
Nothing fancy here, just showing social proof to those people who are still on the fence after a week. We’ve done the selling in the first 7 days, now’s the time to use soft sales skills.
DAYS 12 TO 15
They’ve seen at least 3 different ads in 11 days. If they still haven’t purchased, they probably have questions.So in this phase, we run a Messenger ad to ask why they haven’t purchased.
DAYS 16 TO 19
By now they have already seen at least 4 different ads, seen what you’re good at, know what you stand for, saw your customer testimonials, and even came across your invitation to strike up a conversation.
Yet they still ignored you.
The solution?
We decided to create an engagement-driven post where we invite existing clients to come forth and share their feedback about their own experience. We send the URL to existing clients directly.
The beauty of this approach is that the testimonials look genuine and not packaged.
However, this phase hasn’t netted any direct sales for us, so we’re still trying new things.
DAYS 20 TO 21
This is the final straw, so we go pretty hard here.In this phase, we simply show them a picture of someone standing at the crossroads. Then we tell them that they could be like A in X months, or they could stay exactly where they are, unable to get started on the thing they’ve wanted for months or even years.This is also where we got the highest ticket purchases.
That’s all there is to the 6 phases lol
But that’s not all the ingredients that went into this campaign. Our campaigns have such great numbers because we work with a company that has built their brand equity for over 20 years and they have a strong pricing power, which is why they have pretty high average order values.
Plus, all of these trainings are paid for online, and they cost between ~$1K to $15K on average.
Anyway, that’s a topic for another day, but I hope you guys take something away today.
(Added 2 screenshots in case anyone wanted to verify that it’s $1.3M in total lol.)
Source FB group: Facebook Ad Hacks
Jason How: https://www.facebook.com/groups/557604277731548?view=permalink&id=1241556842669618