Even if you’ve tried and failed to attract a new customer through content marketing, social media or pay-per-click advertising, hope shouldn’t be lost straight away, as there is another way of securing their business.
While certain marketing circles have discounted the credibility and effectiveness of retargeting, it is still worth exploring, especially when you hear about the benefits and statistics of successful campaigns.
How retargeting works
Retargeting works by placing a small piece of code on your website so that every time a new visitors arrives, they’ll be given an anonymous browser cookie. After they’ve left and start visiting other websites, a retargeting provider will display your ad at appropriate times.
Think about your own browsing behaviour and there is every chance you’ve been retargeted in the past. Those occasions when you’ve see an ad relating to products or services you recently looked at isn’t a coincidence, it’s retargeting!
The benefits of retargeting
Retargeting is a two-way street, as it has advantages for both you and the customer. Your ads are placed in front of a relevant audience, while customers are seeing promotions, offers or content that interests them. However, the benefits don’t end there…
- Potential customers are reminded of your brand – Even if they didn’t make a purchase first time round, they did have sufficient interest to visit your site. Therefore, both you and the consumer are given a second chance.
- Ads can be personalised – You can always try a different approach to convince customers to convert instead of just clicking. Change your message, tone or CTA.
- Greater understanding of your audience – Facts, figures and data from visitor behaviour will give you a greater understanding of your audience. As a result, you can optimise your website, social media profiles or marketing campaigns.
So the benefits have now been laid out, but what about some cold hard evidence to prove retargeting remains a successful and worthwhile marketing method?
- Marketers who use retargeting generally have higher ROIs (AdRoll)
- 30% of consumers have a positive or very positive reaction to retargeted ads, compared to 11% who felt negatively (eMarketer)
- The average click-through rate for display ads online is 0.07% while the average click-through rate for retargeted ads is around 0.7% (Digiday)
- Retargeted customers are 70% more likely to complete a sale than non-retargeted customers (Criteo)
One SlideShare presentation even goes so far as saying retargeted customers are three times more likely to click on your ad than people who haven’t interacted with your business before. On top of that, retargeting can boost ad response up to 400%.
Not all retargeting campaigns will succeed, as some consumers may feel uncomfortable or get annoyed at constantly having your ad intrude on their browsing experience. However, it still remains a useful and powerful marketing technique that shouldn’t be forgotten about.
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