Remarketing or retargeting consists of the ability to reach people who have already shown interest in your business before, such as a purchase, visit to your website, opted into any of your landing pages, used any of your apps, or even shown interest in any particular social profile.
The main objective of remarketing is to keep in touch with those customers or potential customers, so they can eventually decide to convert due to your advertising strategies.
Remarketing is an action taken by companies to remarket a product or service to individuals that decline a particular conversion event.
The company remarkets the product to improve sales and rekindle interest to those in need of convincing. Many brands use this excellent marketing strategy. It’s proven repetitive advertising with different focuses or resources used to gain more customers.
Thanks to technological advances which allow you to find a large number of customers and grow your audience, remarketing has seen a resurgence and all kinds of brands are currently making use of it and getting amazing results.
How does it work?
Remarketing can be presented in different ways:
Creative Remarketing is when a brand displays an ad to someone that didn’t convert previously. The strategy of the advertiser in this case, will be to take another shot with a more creative and better ad than before with the objective to convert this person.
Search Remarketing is when a consumer searches using keywords and finds a website but doesn’t enter this website. Then, the customer gets retargeted based on the search keywords he used before.
A Remarketing Site is when a possible consumer visits a brand’s website, but doesn’t convert (or doesn’t buy anything). Then, the brand displays ads with offers (or other strategies) to try to convert the customer.
How can this be achieved?
Simply, with what is known as an HTTP cookie.
An HTTP cookie is a small bit of code that will help you save data. For example, if you have an online store and people visit your website, those who visited your website have a browsing history “cookie” placed in their web browser.
You can make use of remarketing cookies by using remarketing tools and services available online, and with the cookies information you can know the browsers that visited your website and display ads more often to these people.
The three greatest benefits remarketing can provide for your business are:
Reach Highly Targeted Audiences
With remarketing, you have the ability to target a specific audience with a specific objective and a powerful message. You can create highly targeted, customized ad campaigns depending on the type of audience you’re reaching by targeting specific audiences on their interests and enhancing your remarketing efforts.
Higher conversion rates
Remarketing will help you drive visitors and convert them by increasing your chances of sales. Many people visit websites and don’t convert immediately. When you remarket to these prospects from your target audience, you can keep them and engage them with your brand. Remarketing is amazing for a higher conversion rate for your advertising campaigns.
Brand exposure to the Right Audience
Your brand will have more recognition to reach more people, and will get you to the top of the market. Remarketing campaigns will make the right people know who you are.
To spend effectively and engage qualified customers to be converted, you must know exactly who you need to reach to get the results you want. This helps you find and re-engage visitors. You can get a lot better results than a standard campaign.
- In a study that evaluated various strategies in terms of the average lift in search activity generated for an advertised brand, retargeting represented the highest lift in trademark search behavior at 1,046%.
- Nearly 3 out of 5 U.S. online buyers said they notice ads for products they looked up on other websites.
- 30% of consumers have a positive reaction to retargeted ads vs. 11% who feel negatively about them, 59% had a neutral reaction.
- 1 in 5 marketers dedicate budget for retargeting.
- Retargeting can boost ad response up to 400%.
- 46% of search engine marketing professionals believe retargeting is the most underused online marketing technology.
- E-mail retargeting CTRs and conversion rates are anywhere from 3 to 5% higher with upsells, as compared to standard site retargeting.
- Online consumers are open to receiving behaviorally retargeted ads. While the majority of consumers (60%) remain neutral about the topic of retargeting ads, 25% enjoy them because they remind them of what they were looking at previously.
- CPG company Kimberly-Clark relies on retargeting, saying it is seeing 50 to 60% higher conversion rates among consumers who have been retargeted.
- The average click-through rate for display ads is 0.07%, and the average click-through for retargeted ads is about 0.7%.
- Web site visitors who are retargeted with display ads are 70% more likely to convert on your Web site.
- Retargeting can boost ad response up to 400%.
- Retargeted customers are 4 times more likely to convert than new customers.
- Retargeted ads led to a 1,046% increase in branded search.
- Web visitors who have been retargeted with display ads are 70% more likely to convert.
- Websites see a 726% lift in site visitation after 4 weeks of retargeting exposure.
- Retargeting can increase conversion rates by as high as 147%
- 72% of online shoppers are likely to abandon their carts before checking out. Without retargeting, only 8% of those customers return to complete their transaction.