The ability to reconnect with the majority of people who weren’t ready to convert upon their first interaction with your brand is what makes retargeting the most powerful piece of your digital marketing campaign.
(Jason Fishman, Forbes.com)
Your business has a great website and app. And you’re experiencing traffic too. The bad news is that most of that traffic won’t convert, at least not at first.
Of all the potential customers who reach your website, 92% will not be ready to make a purchase. You can expect the same story for your mobile app. Before digital marketing even existed, professionals knew that it took at least 7 exposures to your messaging before a customer would be ready to buy. That 92% aren’t doing anything new.
This doesn’t mean that you have to accept the situation. Retargeting is a process that allows you to run out of your virtual storefront doors, chase after the visitors and keep messaging them 7 more times (and more) until they become customers.
How does it work?
Using retargeting, visitors who have left your website/app can see your ads on other sites. In time, your ads will appear on partner sites as visitors browse the Internet, keeping you top of mind.
Those original visitors will start to recognise your brand logo, colours and the messaging. And they’ll get used to seeing your product/service too. This consistent exposure to your brand means the possibility of people coming back and buying.
Why is retargeting important?
Retargeted visitors are 70% more likely to convert on a website compared to those who aren’t targeted for the second time.
Shopify says that ecommerce loses $18 billion every year due to abandoned carts online. The simple fact is that people will visit your site or app and leave without converting to customers. And that remaining 8% of visitors we mentioned earlier may not buy anyway.
- Staying top-of-mind through retargeting is clearly vital for any ecommerce business. It acts as a visual reminder for customers and clients. The curiosity and interest they showed when they first visited your site or app can be rekindled through the ads
- In the longer-term, the more a potential customer sees your ads, the more you will benefit from increasing brand awareness. So not only is the retargeting campaign moving customers towards conversion, it is also developing your brand’s presence
- Retargeting is focused on people who have already shown some interest in your product. This is the key difference between retargeting and display ads. You know these are leads, which means the money you spend on retargeting is spent more wisely
- Retargeting can also be personalised. This is a real breakthrough. The best email marketing campaigns, for example, are highly personalised. Retargeting takes this one step further through the medium of ads
With retargeting, you have a second chance to close the deal
Second chances are sometimes needed. It is unlikely your leads will find you and convert right away since the buyer’s journey is far from linear. Retargeting ads have a 76% higher conversion rate.
Alongside other aspects of your marketing stack, pushing messages to users who have already engaged with your offer makes perfect sense.