Doesn’t it sound absurd to target ads to people who have already interacted with your website? You might ask, “Why spend more money to remarket to the same customers when you can build a new clientele of potential buyers?”
Well, this blog answers that question for you. Read about the beauty of remarketing and how it can help increase sales conversion and create brand recognition for you without going overboard with your budget.
What is Remarketing?
Remarketing is a tactic that is used to target ads to people who have visited your website or mobile app. Everyone who visits your website may not make purchases. Maybe they’re taking time to think about it. Or they simply didn’t have the time to shop. This tactic lets you reach out to these potential buyers with targeted incentives to make a final push for conversion. This is a great approach to reach out to customers who already show an interest in your products.A
“Remarketing is so powerful because it allows marketers the opportunity to continue the conversation that otherwise may have only been a 30-second decision on the part of the consumer,” said Jason Hobbs.
Basically, you are Doctor Strange and you “have come to bargain”.
Know the campaign for you
Before going on to the good stuff about how it is beneficial for you, it is important to understand what campaign suits you the best. You can either remarket through emails or retarget.
First on the list is emails. Email remarketing is especially beneficial for online stores, where consumers might leave after adding a product to the cart but not exactly purchase it. Here, you have the option to send an email to the consumer in hopes of bringing them back for the final purchase.
The number of global email users is set to grow to 4.48 billion users by 2024.
WH Smith tested three types of shopping cart abandonment emails that showed results in conversion rate:
- Generic Branded follow-up email showed +10% conversion rate
- Personalized remarketing email with a promo code for 5% discount time limited to 72 hours showed +100% conversion rate
- Personalized remarketing email with a promo code for a 5% discount time limited to 48 hours showed +200% conversion rate
With retargeting, you can target your ads to audiences who have visited your website or social media profile. Instagram retargeting, Facebook and Google Ads are some pathways for you to reach your customers.
A study by Connect IO shows that remarketing ads are 76% more likely to get clicks than display ads.
Retargeting involves targeting ads to potential customers based on cookies that you capture while customers are on your website. This makes digital marketers ‘cookie’ monsters.
Ever checked out a laptop on Daraz and the next thing you know, there are ads about laptops on your Facebook? Stalker alert, right? But this is a useful tool to remind the customers that they showed interest in the product and possibly lead them to convert.
If you’re still having a hard time considering, read further to see why you should.
Why you should Consider
The most important reason to consider remarketing is that it helps your conversion rate. It also helps you connect with interested potential customers and increases brand awareness. With remarketing, people know you exist. This also helps in creating a loyal customer base for your business.
As of Quarter 1 of 2020, there are 2.6 billion monthly active Facebook users. Instagram has the second-highest Return On Investment among marketers. Meanwhile, 80% of marketers have reported an increase in email engagement over the past 12 months. These data highlight the benefit of remarketing and retargeting as well as the potential for reaching customers.
Finally, remarketing allows you to target people who have viewed similar items on other websites. You can target your competitors’ customers with your ads that pop up while they browse your competitors’ website. And the best part is, this tactic is cost effective. You will already have an audience to target through therefore, you will not have to generate a new audience.
As with any digital marketing, remarketing is a commitment and may take time before you start seeing ROI. But the important thing to keep in mind is that your customers will already have an awareness of your business. The number of times a potential customer sees your ad, is proportional to the impact you have. Therefore, when customers finally want to make a purchase, they will know to come to your website. As soon as they show interest, you can retarget your ads to them as a final nudge to help them convert.
At Lone Tree Marketing, we already have our ‘cookie’ monsters who can create awareness among potential customers about your business. We help companies create digital experiences and retarget the experiences to increase conversion.
If you want to get started with remarketing, connect with us!