Three Ways Retargeting Can Improve Your Business

Retargeting lets you keep your brand in front of users interested in your product or service. This technology helps you tailor your advertisements for specificity, increasing your conversion chances. Retargeting is simple: if someone leaves a shopping cart on your website, you will see an ad for your product or service. You can then follow up with a customized ad.

It Works with Multiple Digital Marketing Mediums

Retargeting works with many digital marketing mediums, and its most compelling benefit is that it allows you to track your website visitors from one to another. For example, Spotify’s audience targeting and retargeting solution allows you to show them ads about similar products or services. As a result, retargeting campaigns can increase conversions by as much as four times. It’s also an effective way to share new products or services with your existing customers.

To get started, you must have cookies. They are small files stored in web browsers. They can recognize a visitor and display relevant ads. Retargeting aims to increase brand awareness and conversions by displaying ads relevant to the person’s behavior. Retargeting ads can appear in many forms, including display ads, SMS, and email.

It Keeps Your Brand in Front of Users

Most users won’t take action on your site until they trust your company. Marketing research indicates that a customer needs to see your brand seven times before making a purchase. Retargeting keeps your brand in front of these users to increase brand awareness and the chances of conversions. Retargeting works because it keeps your brand in front of people who have already expressed interest in your product or service.

Retargeting uses cookies and email campaigns to keep your brand in front of users who have already expressed an interest in your product or service. For example, if a potential customer searches for a gluten-free bakery, they find your website because of your SEO strategy. However, once they find your site, they browse the website but don’t buy it. There could be several reasons why the potential customer did not make a purchase. By using retargeting to display your ads on similar websites, you have a better chance of getting back to those potential customers.

It Allows You to Tailor Ads for Specificity.

Retargeting allows you to fine-tune your ads based on your target audience. By leveraging demographic and contextual data, you can create targeted ads based on the people who have previously visited your website and have shown an interest in your product. With more precise targeting, you can avoid wasting impressions and save on ad costs.

One method is called list-based retargeting. It uses a list of emails of past and potential customers and shows your ads to those people who use the same email address. These lists never expire, so you can easily target specific individuals with retargeting. This method is particularly effective when you want to remind customers of your products and encourage them to move further along your sales funnel. You can even use retargeting to generate awareness of products that may be relevant to the customer.

It Increases Conversions

Retargeting is an advertising strategy that follows visitors around the web, showing them ads for products they have shown interest in. This ad helps drive those visitors back to your website and purchase. This method of promoting your products increases conversions by 40% on average. However, it’s important to note that the performance of this strategy varies by industry. Here are some main reasons it can increase your website’s conversion rates.

Retargeting increases conversions in many ways. According to some studies, retargeted consumers are 3X more likely to click ads and make a purchase than non-retargeted visitors. It increases your chances of converting potential customers and helps you stay in mind with existing and potential customers. Moreover, retargeted ads are far more effective than standard display ads.

It Can Be Expensive

Retargeting campaigns remind website visitors of the products and services they may have previously visited. Essentially, you’re sending them relevant ads on other sites that they might have seen so they can buy from you again. But this method can be expensive. According to Peter Messmer, retargeting campaigns typically cost $0.75 to $1.25 per click or CPC. Alternatively, retargeting campaigns can cost $5 to $10 per acquisition.

Retargeting campaigns are costly, so marketers must design their movements with their budgets. Measuring the campaign’s effectiveness and getting a reasonable ROI is vital. But when used correctly, retargeting can yield stupendous dividends. In one case, a company used 330 million advertising impressions to generate 71% of total conversions. This campaign also cost $900,000 per click, despite generating 71% more sales.