Ok, so you’ve got yourself a marketing budget. You’ve probably already picked out a few techniques, like SEO and banner ads, to give your brand a little traction and get some traffic coming in. But are you truly maximizing your marketing strategy? The truth is that if you’re not retargeting the visitors who are coming to your site but not converting then you’re not maximizing your online marketing spend and you’re most certainly losing valuable sales.
Maybe you’ve heard of it. How retargeting helps you go after the “ones who got away” and give those visitors who like to window shop the extra push they need to take the plunge and buy from you. But you may not realize exactly how beneficial retargeting, also known as remarketing, can be for your business and your bottom line.
The latest stats show that a mere 2% of web viewers who click on an ad actually buy something. Not too many businesses I know would be happy with that response level, especially given the amount of time, effort and money they invest in getting those visitors to their site. But the facts don’t lie, and if you’re relying on traditional online marketing methods, those are the numbers you’re likely facing.
So, what if you could keep track of the 98% of visitors who leave your site, and strategically display your ads to them while they surf the web? What if you could get a glimpse into exactly which products those visitors have shown an interest in, and then entice them back with promotions and deals for those very products? With advanced techniques like audience segmentation, or ad personalization, you can deliver hyper-relevant ad content to your visitors after they’ve left your site. The chance of them clicking on those product-specific ads increases exponentially and this is not just a hypothetical scenario. This is retargeting advertising, and it works.
What can retargeting do for your bottom line? By placing compelling ads in front of your potential customers, you encourage repeat visits to your site thereby increasing both your CTR and conversion rate. Since the people clicking on your retargeted ads are more likely to make a purchase, you’ll also realize a significant increase in your return on investment for your marketing dollars. In fact, according to some recent retargeting case studies, businesses who retarget can see as much as an 87% reduction in CPC and increases up to 375% in CTR, with a huge gain in ROI. In other words, the sky’s the limit.
Still not sure if retargeting is effective? Consider the fact that over 46% of specialized marketers think that retargeting is the most under-utilized online marketing technique, according to a recent study by SEMPO and Advertise.com.
Given all of this information, the question to ask is not should you retarget, but why are you not doing it already? If your goal is not just to get traffic to your site, but to convert that traffic into paying customers, then retargeting should be part of your overall marketing strategy. If it’s not, you’re missing out.
Author: Rebecca Daneault