According to AdRoll, only 2% visitors convert into customer on their first visit to an e-commerce website. To convert the other 98%, you need retargeting. Each year, businesses spend tonnes of money marketing their products and services, but all of them don’t succeed in getting better returns on investment. Retargeting comes into picture to convert those visitors who reached you but didn’t buy.
Businesses that aim to target certain segments of users can make use of following retargeting techniques and convert more prospects into customers.
In a retargeting campaign, advertisements are served to the users who have shown interest in a company’s products or services by visiting their website. You can track your potential customers using cookies and show them targeted advertisements.
According to experts, such constant exposure leads to higher conversion rate.
In CPC, the advertiser has to pay more as the conversion rate entirely depends on a number of impressions because the goal is to create awareness about the brand.
Contrary to the goal behind CPC, retargeting requires marginal spending from the marketing budget to target those who have already visited the website once or few times and show them advertisements as they surf the web.The budget of retargeting can be controlled with techniques like
You can put a limit on number of times the targeted advertisements are shown.
You can determine the time you want to keep the potential customer in the buying segment.
Retargeting works with both online and physical stores. The biggest example of an online marketplace using retargeting is Amazon.
Ever saw advertisements of the products you saw on Amazon appearing on different websites? That is retargeting.
Amazon spends a major portion of the marketing budget on paid advertisement, which includes retargeting as well.
In another case, Mazda applied retargeting to improve sales figure. After carefully analyzing the target audience in a certain radius around the few dealerships, Mazda selected vehicles and displayed their ads to target customer segment.
The result – Value of car sales was 98% higher than offline sales and 53% people who saw these targeted advertisements came to the dealers to make an inquiry.
People spend a lot of time on social media platforms so there can’t be an ideal place for businesses to show their advertisements. Platforms like Facebook, Twitter, etc. not only give you the option to show paid advertisements but also help retargeting.
Facebook enables you to display retargeting advertisements to the users who have shown interest in your business by visiting your website. Pixel, a small code is placed on your website, which saves information about the visitor. When that visitor comes to Facebook, your advertisements show automatically.
Similarly, Twitter enables you to display targeted advertisements using website tag. Furthermore, both Twitter and Facebook can use customer list from your CRM tool and use it to connect with them.
Social media platforms can also target users who have installed your app and provide insights on how people are using your application.
The use of retargeting has amalgamated with other processes like search engine optimization and strategies like email marketing. Such broad usage has expanded the reach of marketers thereby enabling them to retarget potential customers in an efficient manner. Here are few add-ons that complement the practice of retargeting:
Focus on those users who have searched for specific keywords related to your business.
Search retargeting can also include non-branded keywords to increase the reach through a retargeting campaign. By knowing user’s intent, the marketer can target selected keywords and display advertisements on most visited websites and social media platforms.
Site retargeting has a general concept; potential customers who visits your website, get to see advertisements on other websites browsed by them. Due to constant exposure that a brand collects, the chances of conversion increase and help your business run profitably.
Email marketing is one of the most effective ways to engage customers. When mixed with retargeting, you get a simple and effective way to boost results by tracking the actions taken by people reading your email. Action such as the opening of an email message enables a marketer to track users as they browse the internet.
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