The folks at List Wire have written a good post on Retargeting. If you use Google or Facebook to advertise, you need to know everything you can find out about how to Retarget.
This marketing secret can expose anyone that has expressed interest in your products or services multiple times over a short period. Folks tend to take more than one exposure to build trust with you.
Remarketing allow you to make more offers to these prospects while they are hot.
Marketing strategies are constantly evolving. With the rise of digital marketing, new strategies are continually being developed to help businesses reach their target audiences more effectively. One such strategy is retarget marketing.
Retargeting, also known as remarketing, is a form of online advertising that targets users who have already shown an interest in your product or service. If you’re thinking about employing this strategy for your business, here’s what you need to know about retarget marketing and whether or not it’s right for you.
What Is Retarget Marketing?
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Retarget marketing involves placing cookies on a user’s web browser when they visit your website. These cookies track users as they browse the internet and show them targeted ads for your product or service.
According to Justin Olson, Chief Marketing Officer at Fast Pace Health, “Retargeting is one of the most efficient and effective ways to spend your marketing budget. By targeting ads to people who have already visited your website, you’re more likely to convert them into customers.”
With the right approach, retargeting can be an extremely effective marketing strategy. However, it’s important to use it wisely and avoid turning potential customers off with too many ads.
Let’s discuss this strategy further so you can see when to use it and how it can benefit your business.
What Are the Benefits of Retargeting?
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There are several key benefits of retargeting that make it an attractive marketing strategy, including:
Higher Conversion Rates
Because you’re only targeting ads to people who have already shown an interest in your product or service, you’re more likely to convert them into customers.
“Retargeting ads have, on average, a 10x higher click-through rate (CTR) than display ads served to people who haven’t visited your site,” says Ann McFerran, CEO of Glamnetic.
“In other words, if 1,000 people see your retargeting ad, you can expect around 100 of them to click-through and visit your site. If the same number of people see a general display ad, you might only get 10 clicks.”
Better ROI
Retargeting also generally has a better return on investment (ROI) than other marketing strategies.
“We found that, on average, our clients see a 2x ROI on their retargeting campaigns,” says Steven Vigilante, Head of New Business Development at OLIPOP. “It’s an incredible return, and it’s one of the reasons we recommend retargeting to all of our clients.”
Improved Brand Recognition
When done correctly, retargeting can also help improve brand recognition. If potential customers see your ads multiple times, they’ll start to remember your brand.
“The power of brand recognition should not be underestimated,” says Fred Gerantabee, Chief Experience Officer at Readers.com. “It can be the difference between a potential customer clicking on your ad or ignoring it.”
Brittany Harrer-Dolin, Co-Founder of Pocketbook Agency adds, “While you don’t want to bombard potential customers with too many ads, a little bit of repetition can go a long way in terms of building brand recognition.”
Flexible Budget
Another benefit of retargeting is that it’s a flexible marketing strategy. You can start small and scale up your budget as you see results.
“With retargeting, you only pay when someone clicks on your ad,” says Victor Mathieux, Co-Founder and CEO of Miracle Brand. “This makes it a very cost-effective way to market your business.”
Why Use Retargeting?
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Now that we’ve addressed the benefits of retargeting, let’s discuss when you should use this marketing strategy.
It’s Effective
Retarget marketing is an effective way to increase brand awareness and conversions. If you’re looking for a way to improve your marketing ROI, retargeting is definitely worth considering.
It’s Flexible
Another reason to use retargeting is that it’s flexible. You can start with a small budget and scale up as you see results. This makes it a great option for businesses of all sizes.
“My clients really appreciate the flexibility of retargeting,” says Zach Goldstein, CEO of Public Rec. “It’s allowed them to grow their marketing efforts without breaking the bank.”
You Can Target a Specific Audience
With retargeting, you can target ads to a specific audience. This is helpful if you want to reach potential customers who are more likely to convert.
“For example, if you run a website that sells products for dogs, you could use retargeting to show ads only to people who have visited your site and viewed pages about dog food,” says Gabriel de la Serna, CEO and Founder of Onpost.
This is just one example, but it shows how powerful retargeting can be in terms of targeting a specific audience.
It’s Easy to Set Up
Another advantage of retargeting is that it’s easy to set up. You don’t need any special skills or knowledge to get started.
“I don’t know any professional that likes dealing with convoluted marketing strategies. Retargeting is simple and easy for even the most novice of online marketers,” says Nancy Eichler, SVP Marketing and eCommerce at iwi Life. “It’s proven to be an invaluable tool for our team.”
You Can Test Multiple Ads
You can test multiple ads with retargeting to see which ones are most effective. This allows you to fine-tune your marketing strategy and get the best results.
You Can Target Specific Groups
Retargeting allows you to target specific groups of people. For example, you can target people who have visited your website but haven’t made a purchase. Or you can target people who have made a purchase but haven’t returned in a while.
You Can Increase Your Sales
This marketing strategy can help you increase your sales and conversions. By targeting people who have already shown an interest in what you have to offer, you’re more likely to get them to take the desired action.
You Can Save Money
Retargeting can save you money by allowing you to focus your marketing efforts on people who are more likely to convert. This means you’ll waste less money on ads that don’t work and you can put more of your budget into ads that do work.
You Can Build Brand Awareness
As we’ve already touched on, retargeting can also help you build brand awareness. By targeting people who have already shown an interest in your brand, you’re more likely to get them to remember your brand and think of it when they need the products or services you offer.
It’s Non-Intrusive
Some marketing strategies, such as pop-ups, can be intrusive and turn potential customers away. Retargeting is much less intrusive, making it more likely that potential customers will engage with your ads.
“Retargeting is a very effective way to reach your target audience without being too intrusive,” says Monte Deere, CEO of Kizik. “It allows you to stay top of mind without being annoying.”
This is a huge advantage, especially in the digital age where intrusive ads are becoming more and more common.
Is Retarget Marketing Right for You?
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You’ve seen how retargeting works. Now it’s time to decide whether you should use this marketing form for your business. The answer isn’t always clear, but there are some key factors that you can consider to help you make the decision.
Consider Your Target Audience
The first step is to think about who your target audience is. If you’re selling a product or service that appeals to a wide range of people, then retargeting could be a good option for you. On the other hand, if you’re targeting a niche market, then you might want to rethink using retargeting as your primary marketing strategy.
Think about Your Goals
What are your marketing goals? Retargeting could be a good option if you’re looking to increase brand awareness or generate more leads. However, if you’re looking to boost sales or drive immediate results, you might consider other marketing channels.
Consider Your Budget
Retargeting can be expensive, especially if you’re targeting a large audience. You might want to consider other marketing options if you have a limited budget. However, if you have the money to invest in retargeting, then it could be worth your while.
Weigh the Pros and Cons
Finally, it’s important to weigh the pros and cons of retargeting before making a decision. Some of the main benefits of retargeting include reaching a large audience, improving brand awareness, and generating more leads.
However, there are also some potential drawbacks to using retargeting, such as the high cost and the possibility of annoying your target audience.
But with the right approach, you can avoid these potentialities and make the most of your retargeting campaign.
When deciding whether or not to use retargeting, there is no right or wrong answer. It’s important to consider your target audience, marketing goals, and budget before deciding. If you choose to use retargeting, keep an eye on your results so that you can adjust your strategy as needed.
Final Thoughts
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Retarget marketing is a tool that can be used to boost your bottom line and increase conversions. When used correctly, retargeting can be a powerful way to connect with potential customers who may have been interested in your product or service, but for whatever reason, didn’t convert the first time around.
However, there are a few things to keep in mind when using retarget marketing. First, you’ll need to make sure that your ads are relevant and targeted to your audience. Secondly, you’ll need to make sure that you’re not bombarding potential customers with too many ads or appearing intrusive.
If you use it properly, retarget marketing can be a valuable asset for any business. If you think it might be right for your business, why not give it a try? You may be surprised by the results.
