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If you're running webinars and using social ads (facebook, instagram, linkedin) you might be leaving a lot of money on the table.
Your funnel boils down to this:
Social ads (1) → Webinar sign-up (2) → Live webinar (3) → Offer (4)
There are 4 steps, that means 4 opportunities for people to drop off.
Let's do a quick calculation (with a 1000$ ad budget):
- You spend $1000 for 200 sign-ups: $5 per sign-up.
- 25% of them show up on your live webinar: 50 people
- 8% of them purchase your offer of $197: 4 people, $788
You just lost $212. Not counting the costs of your time, software and people.
Ouch...
Reduce these drop-off rates and this example can go from a failed webinar to profitable:
- People visited but didn't register
- People registered but didn't attend
- People attended but didn't buy
New calculation (with a $1000 ad budget, but $200 is spend on retargeting)
You increase the conversion rate on your opt-in page
- You spend $800 for 300 sign-ups: $2,66 per sign-up
You increase the show-up rate with retargeting - 35% of them show up on your live webinar: 105 people
You increase the buying rate with retargeting - 9.5% of them purchase your offer: 10 people, $1970
You just made a profit of $970.
Let's fix that with retargeting ads.
Note: there are multiple solutions you should use to reduce the drop-off (like proper webinar email marketing, SMS reminders etc.)
This is our 4-step retargeting ad strategy we apply for all our clients:
Step 1. Hook again
Who: Visited, didn't register
Message: Different angle from original campaign
CTA Destination: Sign-up page
Budget: 10% of total
Step 2. Thou shalt not forget
Who: Registered, waiting for live
Message: Remind them on the day of webinar
CTA Destination: Webinar live page
Budget: 5% of total
Step 3. "Have you given up?"
Who: Registered, didn't attend
Message: Remind them of the value they missed & apply urgency
CTA Destination: Replay page
Budget: 2.5% of total
Step 4. You're hesistant, I understand
Who: Attended, didn't buy/take offer
Message: Address their objections & apply urgency (ex. with a video)
CTA Destination: Offer page
Budget: 2.5% of total
80/20 note: These steps are in order. If you don't have enough budget/aren't getting enough results with the first step, then don't set up the next step yet. Instead: first optimize the step you're on.
Example: Step 1 is working well, you're getting more sign ups with your ad investment. Your attendance rate is low at 20%, so you are improving it by using step 2. Because of your low attendance rate you only have 30 people watching your offer. 3 of them purchase your offer.
Don't bother setting up step 3 and 4 yet, as you need to increase your attendance rate first
Budget note: A rough indication: 80% goes to the initial campaign to get opt-ins. 20% is spread out over the retargeting. Please experiment with what works best for you.
TL;DR
This strategy retargets your webinar registrants with ads on every step of the way so they don't fall off your funnel-wagon. Potentially saving you a lot of money.
