In previous post on 5 reasons you should use PPC for your small business, it was highlighted that one of the reasons businesses should leverage on PPC is the ability to retarget customers who haven’t made a purchase from your business upon visiting your website.
Today, we would be taking a closer look into what retargeting is, how it works, and best practices on how you and your business can leverage on this online marketing strategy to move your leads and prospects further down your sales funnel.
What is Retargeting?
In an ideal world, 100% of the website traffic you receive would mean that all visitors are all ready to carry out an action on your website however, we know that ideal cases are just to cite examples because in the real world it is a totally different ball game.
According to a study released by Episerver 92% of first time website visits are as a result of looking for information rather than making a purchase coupled with the fact that people don’t necessarily buy after coming in contact with a brand the first time, this really can be a heartache for you as a business owner because this means you are losing out on potential customers.
This problem can be solved by using retargeting. Retargeting also known as remarketing is a digital marketing strategy that can be used within an online advertising campaign such as Google Search Ads, Facebook Ads, Google Display Ads, etc with the aim of converting previous visitors on your website to customers.
How Does Retargeting Work?
To achieve this, you will store cookies on the computer of your visitors and will then be able to identify previous visitors and advertise to them again. This way you can reach out to those customers and visitors who showed an interest but didn’t quite convert. This strategy has been shown to be highly effective for conversion and very cost effective.
It really can be frustrating when you invest resources such as time and money in order to get people interested enough to interact with your ads. Rather than them converting by making a purchase, sign up for a newsletter, or try out your product demo that’s when they decide to break your heart and just leave.
Ideally, the thought that showing them a few more ads would eventually get them to convert would seem like a perfect plan but there’s a problem with this line of thought. If they didn’t convert the first time, it shows that maybe what you were offering on your ads was way above what they saw on your landing page.
This shows that just maybe your ads and landing page didn’t work as expected the first time, what makes you think the same would work again? Let’s take a look at what can be done to avoid spending money with little or no return on investment.
Best Practices on Using Retargeting in Your Advertising
A user may no longer be interested in your offerings after seeing the same ads over a particular period of time as clickthrough rates decrease by almost 50% after five months of running the same set of ads. Rotating your ad creative every few months, can easily help avoid experiencing drop in performance.
You could also serve 2-3 variations of your ad creative to see which piques the interest of your consumer more based on their engagement with the ad and serve this for a period of time and then switch it up to avoid a drop in performance.
Precise Demographic, Geographic, & Contextual Targeting
The right targeting provides your ads the opportunity to have greater relevancy and show up in the right placements which ultimately leads to better performances.
When you target your ads based on demographic information, like age or gender, contextual factors like subject matter of the website, or geographic data, you are placing the right ads in front of the right people who are most likely going to carryout an action. Hence, you don’t waste impressions on people who aren’t relevant to your campaign.
Segment Your Audience
In your marketing/sales funnel, there are users in various stages of your funnel and these segmentation allows you to tailor ad creatives to users in these different stages of you funnel. The process is about having specific creatives targeted at users based on the depth of their engagement with different pages on your website.
For example, a user that visits your homepage can be served a creative that talks about the whole brand while another user that visited your product page can be served a more specific creative on your product demo or other products.
With retargeting and its best practices you can be sure that you would be able to attain top-of-the-mind awareness amongst your website visitors, build trust, serve relevant and engaging ads, and ultimately get them to convert.