Only 2% of clickthrough shoppers convert on their first visit to an online store.
The rest of the 98% visitors have to be brought back through a form of marketing known as Retargeting. If you don’t know what retargeting means, it is simply defined as a marketing tactic that enables brands to increase the sales of their product or services by re-engaging the bounced-off traffic (those who didn’t purchase on their initial visit to the website).
This is the reason why retargeting is fast becoming the go-to tactic for NextGen marketers. It not only enables them to lure more customers to their branded product or services, but it also helps them to increase the market sales of their brand. So if you’re a start-up with a mobile app or a business website and have tried your best to avoid retargeting because you thought it’s a cheap tactic, then we’ll show you five good enough reasons to reconsider it as a part of your marketing campaign.
1. Achieve higher conversion rate
As per reports, only 88% of online marketers are currently leveraging this form of marketing to touch base with their click through visitors, who didn’t complete the final act of the sales funnel during their initial visit to the online store.
Generally speaking, there is a misconception doing rounds in the marketing world that more the likelihood of a purchase being made, the more your targeting audience get to see your advertisement. But the fact is, if your audience hasn’t responded after seeing your advert for the first time, chances are that they never will.
On the other hand, if your audience haven’t converted after having initial interaction with your advert then it may be because of some or the other reason. As per WordStream analysis, the more you serve the ad impressions to your retargeting audiences, the better your conversion rate.
This is because; your prospective customers can be at various stages of a sales funnel. So after their initial interaction with your advert they may do some research before finally making up their mind about the purchase.
Needless to say, anyone who clicks on your advert is more likely to have an intent of purchase, if not now maybe in future. So don’t let them move away from you.
2. Minimize your advertising budget
Your pay per click budget also determines the relevancy of your advertising campaign, from your targeting audience’s point of view. Typically, a low quality and relevance score invariably increases the advertising budget.
So when you touch base with your prospects who have had previous interaction with your advert, there’s more likelihood that your retargeting audiences will respond positively to your content as they have already shown a positive intent.
This way businesses can maximize their campaign’s CTR while simultaneously minimizing their CPC budget.
3. Use it for marketing convenience
You can better target your audiences on the basis of their onsite behavior or interaction with your web pages. This way you can cut down on serving unnecessary ads to prospects who just aren’t interested in a particular product or service.
Direct Response Advertising is a complete no-no for brands who don’t command authority in their specific industry; since this will only increase the cost of their social media advertising. But if you have an authoritative presence in your industry then the entire process of retargeting audiences gets a bit easier.
4. It helps in your business branding
Branding plays an important role in retargeting your audiences. Businesses with great branding have better recall value in the minds of their customers. So when you hear a business tagline that says “just do it”, you think of Nike and not a toothpaste brand. Likewise, on seeing Golden Arches you automatically link it to McDonald’s.
Retargeting in a way helps you in terms of your branding concerns by allowing businesses to serve the same content repeatedly over to the same prospects.
5. Increase your customer lifetime value (LTV)
Consumers tend to forget about brands who fall short in terms of visibility. So if you’re not active on social media networks or have no social media presence, there’s a likelihood that you’ll be out of consumers’ minds as well. It’s also important to remain fresh in the minds of your consumers so as to differentiate your offerings from that of the other industry specific players.
This is because your target audiences are busy with their own lives and in the process if you’re not continuously reminding of your existence; there are others players who will take your place. Hence, retargeting will not only help brands remain fresh in the minds of their audiences, but it also helps to increase your customer lifetime value.
So, which is the best place to retarget your audiences?
According to Google, it has a customer reach of over 90% internet users globally, with over 60% using it services on a daily basis.
On the other hand, around 900 million users log into their Facebook account on a daily basis. The social media giant also has an active count of 1.4 billion users worldwide.
Both options are unique in terms of their ad network and reach and are the must have weapons in any business’s advertising campaign.
Your Final Takeaway
You need to follow a simple step procedure to leverage your presence on Facebook or Google as a part of your retargeting campaign. Both the mediums offer a tutorial on how to track your site’s clickthrough users. If you’ve employed a website manager, BusinessCreator, Inc. can do the needful for you.
Retargeting will virtually become an important tool for your business, since targeted audiences are getting more knowledgeable about the presence of online advertising.
So, if you want to leverage retargeting for your business, please contact one of BusinessCreators sales rep for assistance.
Edward Kundahl, Ph.D., M.B.A.
Ed can be reached at (or visit his websites)