WTF is Retargeting?
Just kidding, you probably already know what retargeting is. You just might not know that you know.
Retargeting is the form of online marketing that targets consumers based on their actions and visits to different internet pages. You’ve probably noticed that after you leave a website, the ads that are presented to you on other pages and platforms are closely related to (or for the exact same) content that you've previously visited or searched.
While this might be annoying [read: creepy] for some, it’s a potential pot of gold if you’re a marketer or a business owner.
Because your ads will follow primed, potential customers around as they stroll the net.
Even after they’ve left your website, retargeting allow you to continuously remind them of your brand. It's like an upgrade to a static Google AdWords banner. But instead of only having your brand advertised on certain pages, retargeting opens up your business to customers in an almost limitless fashion.
One of the reasons why this works so well is because the people targeted by your ads have already visited your website, so you already know that they're likely interested in what you have to offer... hence "primed potentials".
How to use retargeting to increase your business' bottomline
Retargeted advertising uses a different method than static ads. With static advertising you have a limited amount of time and virtual space to advertise your brand. That means that after a customer leaves your page, they may forget about its existence.
However, with retargeting once your customer leaves your webpage, the banners and boxes that "pop up" at timely moments as they surf the internet will likely convince them to return to your site and reconsider your offer.
Okay, now I’ll show you a few approaches you can use to increase your business sales and/or elevate your brand image by integrating these bad boys into your marketing plan.
If you have an online shopping business:
You might already know that studies indicate that the majority of online shoppers abandon their shopping carts without purchasing anything.
Less than 10% of these shoppers ever return to complete their purchase.
However, when retargeted, more than 25% of these shoppers return to their previous unfinished transactions and eventually seal the deal!
Advertise related products to recurring customers:
Based on insights you have from your customers previous purchases, model your advertisements to suit their foreseen needs. Do so by presenting them with products or services that are related to that which they find valuable.
Strengthen their brand experience by not making them search the internet for products that will enhance their life, it's useful for them and good business for you.
Offer a free service or item based on your customer’s shopping cart or browsing history on your website:
Anything from free shipping to related products or products that can be used in conjunction with the items they’ve added to the cart are good ideas. Raising the value of their purchase with a free item increases the chance of them returning to complete their initial purchase, or even make new ones.
It's true that these first three ideas apply only to people who run online markets, but don't fret I haven't forgotten about the rest of you.
If you’re the owner of a subscription based website:
Be it a magazine, a newspaper, a file-sharing website, SaaS (software as a service) or any other website that uses a subscription based membership. It's an old hat practice (and a bit of a no brainer), that you should offer your potential clients a free trial to check out your service.
One way to use retargeting in this situation is to send these customers reminders letting them know that their trial is about to end.
Additionally, you can use retargeting for your already subscribed members to remind them that their membership will expire in the near future.
Really, you can use it as a way to passively communicate with them for just about anything. The possibilities are endless.
Alright, f you’re unsure about implementing the ideas above, I've saved this one for last and you should bite the bullet and start with this one.
No matter what business you’re in:
Always remember to value your customer’s interests.
With that in mind, you can use retargeting to do nearly anything, from general advertising campaigns to free giveaways based on their searches.
Your main goal is to keep your brand top of mind to potential clients and foster a lasting relationship with the ones who have purchased to keep them coming back again and again.
As a final note, I’ll share with you some cool statistics. What can I say, I'm a geeky guy who loves me some statistics.
So there you have it. If executed correctly, retargeting can help increase your business share, increase your brand image and improve your advertising ROI.