If you’ve heard of retargeting and think it’s a strategy you want to invest more in, you’re in good company.
According to a study by AdRoll, almost 90% of marketers are planning to increase or maintain their retargeting spend in the next year. Although it’s a popular tactic for marketers, if you’re new to retargeting, it can be tough to know how to get started.
In this article, we’ll cover the basics of retargeting and the ROI, lead generation, and lead conversion benefits it can bring to your marketing attempts.
In the old days of ad, the name of the game was reach and frequency. Brands preferred mass media vehicles like television and radio because they were the easiest means to reach large audiences and construct brand awareness.
Obviously, this meant the best available advertising campaigns were dominated by the biggest brands with the largest marketing budgets.
Now, the reach and frequency model has been turned on its head. Increased media fragmentation and new tools for reaching people — like retargeting — have evened the playing field.
Even the smallest mom-and-pop-shop has opportunities to get in front of their target audience and drive awareness at a faster clip than some of the largest brands.
What Is Retargeting& Why Is It Beneficial?
If you were to look at your conversion funnel, how often would you find that a first-time guest visited your website, viewed a product, and then made a buy all on that first visit? Chances are youad be lucky if you ensure that behavior once.
Making a sale is a process. Survey have shown that up to 98% of your visitors leave your website without converting. Another study on the conversion funnel by Google found that oftentimes, it takes several steps for a user to go from visit to conversion, and itas actually not uncommon for a guest to take more than 30 steps before making a buy!
Retargeting helps you tackle this problem head on. It allows you to target and serve ads merely to people whoave previously visited your website, use your mobile app, or in some cases, visited and bought something from a physical retail place. This means you can be very strategic and efficient about who youare reaching and where youare spending your marketing budget.
Retargeting provides two primary benefits: It maximizes ROI and keeps you in front of prospects.
Marketers donat often think of retargeting as a brand-building tool, but this represents a huge missed possibility. One of the greatest benefits retargeting offers is that it keeps your brand front and centre with a targeted audience.
Sometimes you might do this to try to drive a direct reply, as we outlined in the section above. Other periods, though, it also gives you an opportunity to build up your brandas familiarity with your target audience and increase the possibilities of a future indirect action like a Google search or an organic site visit.
These indirect effects can be significant. In fact, comScore found that retargeting campaigns led to a 1046% increase in branded search and a 726%lift in site visitation after four weeks of retargeted ad exposure.
Itas a powerful direct reply tactic that maximizes ROI.
In the environment of conversion funnel chaos mentioned above , no other ad tactic offers the return that retargeting does. Retargeting offers the most direct and effective means to 😛 TAGEND Reconnect with your highest value targets — people whoave previously expressed interest in your offerings Recapture their attention with an effective, compelling message Move them further down the sales funnel