In a perfect world, customers would come to your website and complete a purchase on their first visit. Wouldn't that be awesome? Well, unfortunately, that's not usually how the consumer buying process works.
Customers tend to shop around different websites and consider all of their options before making a purchase. They might even place items in their shopping cart only to ditch them and pursue their other daily activities!
How do you get back in touch with these "almost" customers? The answer is through retargeting!
What exactly is this "retargeting" you speak of?
Have you ever visited a website and ended up seeing advertisements for that company's products all over your Facebook news feed or on other websites? Well, you've been the "victim" of retargeting!
Retargeting, also known as Behavioral Retargeting, is targeting people who recently visited your website with digital advertisements. These advertisements usually come in the form of display ads on other websites, search ads (Google ads, Bing ads, etc.) or even social media ads.
Company's use retargeted ads to try and "win back" people who visited their website but didn't make a purchase.
How does retargeting work?
When you visit a website, that website commonly places a "cookie" on your computer. This cookie lets the company identify people who have previously visited their website. The company can then use these cookies to create segmented lists of people who are already interested in their brand.
Companies can then use advertising platforms like Google Adwords or Facebook Ads Manager to target previous website visitors with specific ads geared towards getting users to revisit their website and purchase their products or services.
If you haven't been using social media or search ads as part of your marketing strategy, we encourage you to look into the platforms and see if your business could benefit from utilizing them!
Why is retargeting so effective?
Here are three reasons:
1) Retargeting is the most specific form of targeting
When it comes to targeting your online ads, you want to hone in on your target audience as precisely as possible. Demographic and interest targeting are great strategies, but retargeting goes above and beyond their capabilities.
You already know that your previous website visitors are interested in your brand, so you know your ads are being placed in front of the right audience.
2) Your ROI will (most-likely) increase significantly
Getting people to visit your website in the first place can be a tough challenge. Ads that target a vague audience usually have low click-through rates, and driving website traffic can be expensive. Even when you get people to visit your website, less than 2% of them are likely to convert on their first visit.
Retargeting allows you to specifically target people who have already shown interest in your brand, and they will be much more likely to not only revisit your website but also make a purchase once they get there.
3) You can target people with ads for products/services they have already shown interest in
Have you ever added a product to your shopping cart only to see a Facebook ad for that exact product show up in your news feed? Whoever was targeting you knew exactly what they were doing.
You can use your Google Analytics data to segment your website traffic by specific product/website pages and retarget visitors with ads for individual products/services! Companies like Amazon and eBay do an excellent job at this type of retargeting.
Retargeting vs. Remarketing
Retargeting and Remarketing are often used interchangeably, but the key difference is that retargeting used display ads and remarketing uses email to contact website visitors.
How many times have you left an item to your Amazon shopping cart and received a follow-up email a few days later asking if you're still interested in that product? That's excellent remarketing!
You don't have to be an E-commerce titan like Amazon to use remarketing either, all you have to do is set up an email capture form on your website! Creating a way for users to create accounts and "sign-in" on your website allows for even more specific remarketing capabilities.
GDPR updates regarding cookie collection/usage
The recent EU General Data Protection Regulation (GDPR) updates have significantly changed how companies are allowed to place cookies and use them for marketing purposes.
The GDPR updates specifically affect the collection/usage of information of members of the EU, so these updates are especially crucial for companies involved in international business.
You used to be able to place cookies on users' computers with minimal consent and use them for any targeting purposes you wanted. The recent GDPR updates have changed the retargeting landscape, and users must now opt-in to allowing cookies to be placed on their computer.
We encourage you to do your own research on how to be GDPR compliant with your advertisement targeting and make sure that you avoid any legal consequences for violating these regulations.
Retargeting is a powerful strategy for increasing your marketing ROI and segmenting your target audience. Developing a successful retargeting plan can be tricky for the average small business owner, but we are more than happy to help answer any questions you have or develop a game plan for your brand!
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