Let’s consider a scenario where you are a consumer and want to purchase a hair dryer. You visit the hair dryer brand’s website, browse around hair dryers but you get distracted and never make a purchase. A day or two later, you are watching some online video and suddenly you see the advertisement for the same hair dryer you like with a great offer. You don’t think twice, and end up making the purchase. This is known as retargeting.
Retargeting is the process of marketing to the consumers who already shown interest in your services or products. In this process, users who visit your website are tracked and shown advertisements of your product or service. Retargeting helps customers in reminding them about your product at various instances ensuring that they make the purchase eventually. Brands who have used retargeting methods have managed to increase their conversions significantly.
Consumers that are retargeted are often the people who have already shown a certain degree of interest in the brand and hence they are highly likely to make a purchase when reminded about the same brand in different mediums. Retargeting can help brands that get lots of visitors but are unable to make them take a desired action.
Retargeting and Converting Customers
Retargeting or remarketing is a powerful tool that has helped brands increase their sales in the world of social media. Converting customers who already showed interest in the brand is easier than finding new customers. Brands can specifically target the people who visited their website and showcase their ads on other mediums that the user might likely use. More and more brands have been using retargeting strategies and increasing their ROI on their marketing budget.
At the end of the day the reason for running an ad campaign is to convert potential customers to actual buyers. Retargeting is also great to increase brand recognition. When your customer comes across your brand advertisement from multiple mediums for a couple of days, your brand name gets etched in their mind. When the customer in future decides to buy a product or service, your brand name will automatically pop up in their head.
By reconnecting with customers who have already shown interest in your brand, you can be rest assured that the retargeting ads won’t be a nuisance for them. You can create special offers for customers while retargeting to enhance the conversion rates. Having a customer base that is already aware of your brand’s existence is the power of retargeting.
Understanding Your Audience
Understanding your audience is one of the foundations that you need before building a marketing strategy. In order to understand your audience, you need some comprehensive data and analytics. You can collect this data using free and paid software available on the internet. Once you have sufficient data to understand your target audience, you can start advertising and retargeting interested consumers.
When a user interacts for the first time with your brand’s website, you will get important data that includes their interests and behaviors. This vital information will help you craft a more personalized retargeting marketing campaign. By running a remarketing campaign with sufficient data, you can be rest assured that it will be a winner. Some other data that you have to consider before running the campaign include customer’s browsing habits, preferences, and pain points
Utilize multiple software and sources to collect as much customer data as possible. This will greatly help you with your marketing campaigns. Unlike any other form of traditional advertising, retargeting focuses on people who already interacted with your brand. With retargeting, you and your business can shift your focus only on people interested in your product or service. Convincing people who are interested is easier than gaining new customers.
Personalization and Segmentation of Retargeting Messages
Advertise products that consumers wish to see. That is exactly what retargeting does for consumers. No two consumers are the same and as a business owner you have to create marketing strategies to win different types of consumers. Segmentation is the process of segmenting your consumers into various categories. These categories can be based on their behavior, demographics and interests.
Once you segment your target audience, the next step is to personalize your marketing campaign so that it reflects the interests of the chosen target audience. Personalization is the process of tailoring a message to an individual’s specific needs and preferences. Segmentation and personalization when used correctly in a marketing campaign will yield you a higher conversion rate.
This method helps your retargeting campaign become more effective and resonate better with the chosen target audience. Showcasing consumers with relevant ads will prevent them from hating the ads and will turn them into loyal followers of the brand. At a time when all the brands are retargeting consumers, make your campaign stand out by incorporating segmentation for your brand ads. With segmentation, you can track your customers’ shopping cart activity and provide exclusive discounts just for the product that the consumer already has added to their cart.
Creating Compelling Ads
Seeing ads about the exact thing you recently browsed about is mind-boggling for consumers, making them want to check it out. Creating compelling retargeting ads comes down to understanding the various elements that are required. These elements will be the decisive factor that will persuade a user to click or skip your ads. Common elements of an ad are eye-catching visuals, crafting persuasive copy and targeting the right audience.
The visuals used in the ads are often the first thing that captures the attention of the viewers. If you are selling a product, show the picture of the product. If you are in the service industry, showcase pictures of the service that you do. Followed by the picture comes a copy. Copy can be short or long based on which medium the ad will be published. Make sure your copy creates a sense of urgency or talks about benefits about the product.
Now that you have created the ad with an eye-catching image and persuasive copy, the next step is to advertise it to your target audiences. Retargeting ads are most effective since they are shown to people who are already interested in the brand. With the ads created and using the power of retargeting, your ads will only be showcased to your target audiences. This will increase the conversion rate dramatically for your business.
A/B Testing
No marketing campaign is successful without an A/B testing. A/B testing helps you find the best elements in marketing content. In this testing method, you create multiple versions of the same marketing material and test them on a small group of target audiences. Based on the data that you generate from audience interactions from these versions, you can create new marketing content compiling all the elements that received the highest interactions.
A/B testing plays an important role in retargeting campaigns because of its continuous nature of changes based on the user interest. It is true that retargeting marketing has a higher conversion rate, when you add A/B testing to it, you will end up with even more fine tuned results. Since you already have the data on what are the interests and behaviors of the target audience, setting up an A/B testing will not be a hassle.
This personalized A/B tested retargeting campaign will remind your users about the brand and the product that they showed interest in earlier in the day, persuading them to make a purchase. As a business owner, if you ever feel like the retargeting marketing campaign is not giving you necessary results, then A/B testing is highly recommended.
Frequency and Relevancy of Retargeting Ads
It is an undeniable fact that businesses cannot survive these days without an effective marketing strategy. Consumers on the other hand are faced with irrelevant ads day in and day out. With retargeting marketing, consumers will only see ads based on their searches and interests. Even though this is an effective marketing strategy, some brands overdo with the frequency and relevancy of showing the ads to the consumers eventually making them stray away from the brand website altogether.
Ever since smartphones became popular advertisers have been exploiting the hand held screen, packing it up with ads left and right. Consumers have learned to skip ads if they feel it’s too repetitive. As a business owner, try to refrain from overdoing with the frequency of ads. The best ads fail to make an impact if it is irrelevant to the person who is watching it. Targeting your ads only to people who come under the target audience always gives a better conversion rate.
Irrelevant ads are a waste of the marketing budget for your brand. If you are utilizing retargeting marketing, stick to the interests and behavior of the consumers. Don’t advertise a product or service unrelated to what the customer searched in the first place.
Retargeting Across Different Mediums
When it comes to choosing a medium to advertise, you are overwhelmed with the available options. With retargeting, the opportunity seems endless. You have to think from the customers viewpoint, which apps will they use, what social media accounts they use regularly etc. There are social media channels with billions of users worldwide and there are smaller ones available only in certain neighborhoods.
Google dominates the search engine ads and majority of the webpage banner ads. You can also create email marketing as a retargeting strategy. Based on your target audiences, you have to choose the platform they interact with the most in order to have successful retargeting marketing. A typical retargeting advertising does not focus on just one platform, instead they work better if you can find at least three platforms your target audiences interact with.
A successful cross-channel campaign requires an in-depth understanding of your target audience’s user behavior. Since you have already segmented and created personalized marketing campaigns for each segment, you just have to find the right platform or platforms to get your retargeting marketing live. Segmenting the target audience across different and the same platform gives different results and outcomes for the campaign. Segmenting can include people who abandoned carts or people who just browsed your website. Both segments of people using the same platform can receive a different remarketing campaign.
Measuring The Success of Retargeting
Measuring the success of your retargeting campaign is an essential part of running a retargeting campaign. It is only with quantifiable data that you can measure the outcomes of retargeting. There are various key performance indicators (KPI) that can help you measure the campaign success;
- Click-through rates: The number of clicks a particular ad got in comparison to the number of times it was displayed for the viewers. Higher click-through rate means more people interacted with your ad.
- Conversion rates: The number of people who saw your ad and took the desired action.
- Cost per click: The cost you have to pay for every click that you receive on your ad.
- Return on ad spend: The revenue you earn for every dollar you spend on advertising.
These metrics help you figure out if the retargeting campaign that you did was successful or not. In order to measure these KPIs, you can use free and paid softwares like Google Analytics, Facebook Pixel, and AdRoll. With these tools you can measure various metrics to understand customer behaviors and customize your ads accordingly. In any case, running the first retargeting campaign may or may not be a successful one, but you will get plenty of important data from the first campaign so that you can ensure the success of all the campaigns after that.
Conclusion
Retargeting marketing is a powerful marketing technique that focuses only on consumers who have shown prior interest in your brand. These campaigns can be made in so many ways, spanning across multiple platforms to get the viewer to take a desired action. Creating a retargeting advertising campaign requires a bit of an effort and analyzing plenty of data. With this data you can segment and create personalized ads for different consumers.
The ad in itself has to be eye-catching and should resonate with your target audience in order for them to take a desired action. When all is done and your retargeting campaign starts creating more sales, you need a payment solution to process all the payments. With RapidCents, you can do the same. Our payment gateway can be tailored to meet your business requirements.
With all the added security features and adhering to safe protocols like PCI Compliance, we ensure that your business will never have to suffer the loss that often happens with fraudulent activities. We have made our payment system with business owners in mind. As your business develops and grows, so does RapidCents payment solutions. We are continuing to grow and support businesses like yours with a payment solution you can rely on and a support team that is ready to help you at any time. Sign up today with RapidCents and let your business grow.
FAQ .
Retargeting is a type of marketing where a brand advertises to consumers who already visited the brand website or taken any action on the brand website. Conversion rate tend to be higher with retargeting because the consumer already knows the brand and has already shown some form of interest beforehand.
Since the customer has already shown interest in your brand product or service, all you have to do is craft retargeting content accordingly. You can play around with the content for retargeting, but some of the most working content are discounts for products/services the consumer just viewed, customer testimonials and benefits of the product/service.
As a brand there are plenty of benefits for using retargeting. Some of the benefits are;
- Increase in brand recognition
- Increase conversion rate
- Collect data from consumers who interact with the ads.
- Expand the reach
- Increase ROI
- Discover new platforms to advertise.