Retargeting is the practice of tracking a specific action taken on a site and using curated content to advertise to the people who didn’t complete the desired transaction. When done correctly, these ads will bring consumers back to the website and their abandoned cart.
When you utilize retargeting, you are targeting people who are already interested in your product. They know who you are, what you do and what you can offer them. They are just a click away from completing the sale. Bring them back to your site and complete the conversion by retargeting them with ads made just for them. This means you’ll have a much better ROI in comparison to traditional advertising avenues.
1 in 5 marketers has a dedicated budget for retargeting. Here’s why you should join them.
Only about 2% of first-time site visitors will convert.
That means the vast majority of people who visit your site, leave. Retargeting gives you the ability to bring the other 98% of visitors back to your site. When you retarget people who have been to your site previously, they are more likely to make a purchase. You’ll win back the customers who didn’t make a conversion when they visited your site the first time.
Retargeting creates a massive lift in trademark search behavior at 1,046 percent.
When consumers know your brand, they are more likely to buy from you. Consumers crave authentic experiences with brands. The overall goal is to generate conversions, encourage repeat buys and inspire buyers to become brand influencers.
When your trademark search behavior improves, your audience is hooked on your product or service. They know who you are, what you provide and they are actively searching for you.
Personalized ads create higher conversion rates.
Personalizing ads are important for advertising in general, but even more important when it comes to retargeting. You can personalize the user’s experience with filtering based on actions they took on your site, demographics and more depending on the platform.
According to the State of the Industry report by AdRoll, retargeting ads perform the same or better than search ads.
Not only does retargeting work as a standalone marketing strategy, but it also works to improve other strategies. When used in combination with search, email, and other display advertising, retargeting generates better results for these alternative marketing strategies.
Need an example?
If you’re like most Americans, you’ve abandoned your fair share of online carts. Here is what it looks like when you abandon your cart on a website that does a great job retargeting.
Some companies will call you out on abandoning your cart. They know you’re interested in a specific product and they’ll remind you just how much you wanted to buy it. Take this Southwest retargeted ad for example:
The internet is a great place to go if you’re a fan of window shopping but aren’t committed to buying right then. Companies, however, are motivated to turn the average online window shopper into a buyer. In this instance of retargeting, Southwest wants to remind you how much you want to take that trip and how they just made it even easier for you.
Brand sponsorship is running rampant on the internet, especially when it comes to the health and fitness scene. Here is how HelloFresh infiltrates Facebook’s timeline and retargets hungry millennials:
Using material that Facebook likes to promote like trending articles and videos are a great idea for advertisers utilizing retargeting techniques. A review article makes this ad look like it’s coming from an unbiased source instead of the company it’s advertising for. It creates a feeling of trustworthiness that will bring customers back to their carts.
The Free Gift
Nothing perks our interest more than “free.” When companies offer a free trial to the people who are most interested in their product or service, it’s pretty much a guarantee that the person will give it a try. This CycleBar ad is a perfect example of this:
After a visit to their site, this ad was displayed on Facebook to capture the lost customers who hadn’t signed up for an account with them yet. This brings new customers through the actual doors of the business and increases the likelihood of someone making a purchase after their free trial.
So, what is the goal of retargeting?
It’s simple. Retargeting brings consumers back to your site to complete their purchase.
Retargeting is an integral aspect of any marketing strategy. Whether you use it as the main avenue for advertising or alongside other marketing strategies, it plays an important role in bringing visitors back to your site.