Did you know that a staggering 96% visitors to your website aren’t ready to make a purchase on their first visit? Now, imagine: you have an online store, a potential customer visits your website. That person browses through isles in the virtual, chooses a couple of items and adds them to the shopping bag and for some reason leaves without purchasing something. You would think that the opportunity to convert them into a customer goes out the window for good, right? Not so! This is where the magic and remarketing and retargeting does its thing.
In today’s competitive online world, retaining customers has become more important than ever before. It’s not only about the huge effort of acquiring new customers, it’s about keeping the already ones and reactivating who actually showed some interests, but did not finalize the transaction. In today’s blog post, we are going to discuss the art and science of Remarketing and Retargeting – arguably two of the most powerful strategies in bringing back your lost leads and customers. We’ll dig of the details of those tactics, how they work, and discover many benefits incorporating them into your marketing arsenal.
What is Remarketing and Retargeting?
But before going in the hows and whys of these strategies, let us sort out the terms really quick. Remarketing and retargeting are, as it were, appeared to be inter-changeable but with a slight different application.
Remarketing involves emailing campaigns, personalized messages or promotions to your existing customers so as to keep the same business going. Think of it as nurturing the relationships you’ve already built.
On the other side, retargeting focuses to reach users that have visited your website, but haven’t taken kind of any desired action such as purchasing a product or filling out contact form. It uses targeted advertising to re-engage these prospects. Essentially, it’s giving those interested but undecided customers a gentle nudge in the right direction.
The Mechanics of Remarketing and Retargeting
Now, let’s understand how these strategies work:
Remarketing:
Email Campaigns: You can segment your email list to send tailored messages to different customer groups. For instance, one can send offers to loyal customers and give incentives that are only meant for them, thanking them for continued support.
Personalization: With the data company has on the behavior of the customers in their shopping and their preferences, it is possible to personalize the shopping they do. For example, offering product recommendations based on past purchases or displaying content related to their interests.
Retargeting:
Cookie-Based Tracking: When a visitor lands on your website, a cookie (a small piece of code) is placed in their browser. This cookie helps track their online behavior, enabling you to serve them ads related to their previous interactions.
Ad Campaigns: Very few audience subsets can be focused for ad campaigns. If user has clicked any particular product and did not buy it instantly, then every time he’s checking out other websites or social media, he can be shown with ad’s of that product.
Cross-Device Retargeting: Different devices are used by people to browse the internet — desktop, smartphone, tablet etc. Cross-device retargeting ensures that your retargeting efforts follow users across all of their devices.
The Benefits of Remarketing and Retargeting
So, why invest in these strategies? Here are the key advantages:
- Higher Conversion Rates: Remarketing and retargeting remind potential customers of your brand and products, increasing the chances of conversion. For example, if someone abandons their shopping cart, a well-timed retargeting ad can bring them back to complete the purchase.
- Cost-Effective: It’s often more cost-effective to re-engage with previous visitors than to acquire new customers. You’re targeting a warm audience who is already interested in your brand.
- Customer Retention: Remarketing strengthens your relationships with existing customers. By offering exclusive deals or tailored content, you can enhance customer loyalty and lifetime value.
- Customization: These strategies allow for a high level of personalization. You can tailor your messages and ads to suit the interests and behaviors of your audience.
- Data-Driven Insights: Remarketing and retargeting plan always yield significant data regarding customer behavior. You can get insights from what worked, and what didn’t to help you optimise your marketing efforts.
Examples of Remarketing and Retargeting
Remarketing:
Suppose you run an e-commerce store specializing in fitness equipment. You notice that a significant number of your customers purchase fitness apparel alongside equipment. With remarketing, you can send tailored emails to those who have previously bought equipment, promoting exclusive discounts on apparel. This fosters recurring buying and enhances customer allegiance.
Retargeting:
Now, imagine you manage an online travel agency. A user visits your website, browses through vacation packages but leaves without booking. With retargeting, you can display ads featuring those exact vacation packages across various websites and social media platforms that the user visits. This serves as a reminder and a gentle push to reconsider the booking, resulting in a potential conversion.
Conclusion
Remarketing and retargeting form an indispensable pair of tools in digital marketing. It is not just about pushing conversions; it is one more efficient way to build customer loyalty and remarket to your warm leads that have already shown their interest in your products or services. Through the power of these strategies, you’ll be able to pull back lost leads and customers while supercharging your marketing prowess for long term survival in the online domain.