What is Retargeting and Why It’s Essential for Your Brand
It’s estimated that 96% of people go to a website when they are not ready to make a purchase. Out of that number, only 2% convert from first time visitor to a buyer. That is a low conversion rate, and surely, you want more than that for your business. So how do you make these visitors turn from merely curious to ready to buy?
If you have talked to a marketing professional, you may have been advised to increase your interaction with your prospects. On average, people purchase after seven interactions with a specific product, service, or business. But those interactions, as you may have guessed, take a long time and a lot of money. And this is where retargeting enters the picture.
What Does “Retargeting” Mean?
Savvy business owners target prospects on various parts of their sales funnel. However, they do so without needing several tactics. This method is known as retargeting. It has become an incredibly popular online advertising tactic. The main targets are visitors who bounced off or those who did not make a purchase.
The purpose of retargeting is to re-engage people who bounced off-site traffic using advertisements on social media (such as using Facebook Ads), Google (through Google Ads), and other channels. From there, your goal is to persuade them to revisit your website and buy. Retargeting, when done right, can increase your sales effectively. This method is often viewed as an integral part of an online marketing campaign. But at the same time, it can be utilised as an a la carte marketing tactic for small businesses. Even without an e-commerce store, your ultimate goal is to have people purchase from you.
Retargeting vs Remarketing
When you retarget, you target people who have already visited your site. That means they have at least a little knowledge about your brand. You also want to engage those who are most likely to commit to a purchase. Finally, you wish to build a lasting connection with your customers. Remarketing has the same goals. However, the tactics to achieve them are different.
In remarketing, you primarily use email to connect with the people with whom you have already done business. Instead of using ads, which is what retargeting is about, remarketing focuses on collecting email addresses. That way, you can reach out to potential customers through email for your marketing campaigns.
Does Retargeting Work?
There’s a reason why people go to your website. They are looking for something that they probably need now or will need in the foreseeable future. If they did not buy it today or in the coming days, it’s still possible that they will purchase it in a few months. But since there are so many other options, they might forget about you. That’s why you need to remind them of the products and services, especially the ones that they spent time viewing on your website.
Retargeting works like a reminder. It’s like waving and saying, “Hey! We’re here!” without being annoying and too intrusive. The ads shown to your potential customers are relevant to their needs and situation. It’s incredibly powerful since it works with apps, search, site banners, and social media platforms.
10 Convincing Reasons Why You Should Retarget Today
Ideally, customers should purchase upon encountering your website for the first time. But that’s not how it works. With retargeting, you can have the following benefits:
- Retargeting reminds someone that your product exists as they continue to browse on social media or a news site. Your product can even be displayed as they research your competitors.
- Segmenting people based on their behaviour and distinct qualities can easily be performed through retargeting ads. You can create a relevant marketing experience for your customers, which eventually drives more purchases.
- The beauty of retargeting is that you can target any segment and still get the advantage of reaching a group of prospects. These individuals have already indicated that they are interested in your brand simply because they have spent some time on your website.
- Retargeting is effective! It generates more significant sales, specifically for e-commerce stores. The key is to keep your brand front and centre. With people actively window shopping frequently, retargeting allows you to bring them back when they are ready to make a purchase.
- This tactic works in promoting branding. One massive reason why so many businesses fail is the lack of brand awareness. But retargeting ensures that your previous visitors do not forget about your brand. Better branding and visibility can be achieved by showing the same logo, slogan, content, and products repeatedly.
- Retargeting maximises the lifetime value of your customers. Online ads make certain that your products or services are retained in the minds of the visitors. Thus, customer lifetime value is increased as you extend the time prospects remember your business.
- As you can already guess, retargeting is cost-effective. It is not as expensive and demanding as other marketing campaigns. Plus, with the bigger probability of people purchasing your product, you get a bigger bang for your buck. You do not have to waste money on groups of individuals who may not be interested in your products.
- Compared to informational ads, you have the freedom to be creative. Your goal is not to reach new visitors who may not have a clue about your brand. Therefore, the ads you make should be catchy whilst reminding the viewer of their last interaction with your website.
- Numbers don’t lie. Three out of four people check retargeting ads. If they see your ad on Facebook, you have a 76% chance of getting clicks compared to ordinary advertisements. And if you apply retargeting tactics to other channels, you can enjoy a 50% increase in sales!
- The more times people see your ads, the higher the possibility of buying the product being endorsed. It’s a great way to encourage the viewer to decide on that purchase.
Each time an individual sees your ads, your brand gains the recognition and traction it needs. Retargeting campaigns have experienced high clickthrough rates and conversions over the past few years. It’s about repeated exposure and the value of good branding, which underscores the reasons why retargeting is effective.
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How to Start Retargeting
Once a visitor goes to your website, they will soon see your ads while online. They could be browsing, reading an article, or listening to music. Your ads will show them the cool stuff you offer with the hopes of bringing them back to your website to make a purchase.
Retargeting, to be effective, requires more than one channel. You may have heard that Facebook is a good place to start, but you should not stop here. There are other channels for retargeting, including Google. Head to Google’s support section, where you can set up retargeting and select your intended audience and when you would like to show your ads.
We recommend focusing on people who have recently visited your blog. These individuals are looking for information about a particular situation, and your product may provide the solution they need. Google also lets you set parameters across various options, including the visitors who last visited the pricing page. You can also target visitors who left your website without checking your product or even the checkout page. With just a few clicks away from conversion, you don’t want to stop now. Retargeting your ads to this group increases the conversion rate of your website.
For Facebook, you can use the platform’s Ads Manager to start setting up your campaign. Segmenting your audience is crucial, so you only have to target potential buyers. Facebook allows you to define your audience by choosing the appropriate geographical location, interests, and age, among others.
Is your marketing campaign not working? Retargeting may be the answer you’re searching for. If you have an online presence with organic or paid traffic, consider retargeting visitors. Even if they leave without taking the actions you wanted them to take, you get unlimited chances with retargeting.