What is Retargeting and How Effective is It?
Whether you’re currently running digital ads for your business, or are still just exploring the possibility, you’ve probably heard of retargeting ads. And, if you spend time shopping or researching online, you’ve probably also seen plenty of retargeting ads.
If you’re interested in using retargeting ads to generate more leads for your business, you’ll need to start with the right strategy. Here’s what you need to know before you start planning your first retargeting campaign.
What Is Retargeting?
Retargeting is a type of digital ad targeting that allows you to show ads to current or prospective customers who have already visited your website. In order to use retargeting, you will need to add some additional code to your website.
Retargeting is typically used to help brands and businesses stay in front of potential customers and reconnect with them at the “right time.” Generally, the “right time” is when they are ready to take some sort of critical action, such as making a purchase or requesting a quote.
How Does Retargeting Work?
There are many different ways to use retargeting, and the methods used often vary considerably depending on the business using them. An eCommerce business might retarget people who browsed a few products but didn’t make a purchase, using ads that showcase the specific products each user viewed during their visit. They might also use retargeting to send follow up emails to customers who add products to their shopping cart but then leave the site without completing their purchase.
Retargeting strategies can be incredibly simple or somewhat complicated, all depending on what works best for your business. Here is an example of a fairly simple retargeting strategy using Google Ads’ Display Network.
How Effective Is Retargeting?
Retargeting continues to be a popular marketing strategy for businesses of all sizes, and for good reason. Through retargeting, businesses can stay connected with a high-intent audience that is actively researching their products or services. Another major benefit of retargeting is that it allows you to build a more recognizable brand by sharing eye-catching ad creative with your core audience.
Why Does Retargeting Work?
One of the main reasons retargeting is so effective is that it can be easily tailored to suit your customers’ needs no matter where they might be in the buying journey. You’re also able to reconnect with an audience who has already shown interest in your products or services, giving you a better chance of getting them to convert. Here are just a few ways you can adjust your retargeting strategy to suit the needs of your audience and drive results:
- Stay On Their Minds. In many cases, a potential customer will check out several different sites before making a purchase decision. They might want to check out a few different companies before making a selection. Increase the odds that they will return to your site by using retargeting ads. Your retargeting ads can “follow” previous visitors so your website is just one click away when they are ready to make a purchase.
- Offer An Incentive. Retargeting is a great tool for following up with customers who were interested enough to visit your website but weren’t quite ready to commit to making a purchase. One way to inspire them to take action is by offering an incentive, such as a discount on their purchase or a free consultation. For example, you could target visitors who added items to their cart but did not complete their purchase and show them ad creative that offers 15% off their first purchase. Just make sure you are excluding recent purchasers from your target audience.
- Guide Them Through The Funnel. If the path from prospect to customer is a long one, retargeting is a great way to guide people toward conversion. With Google Ads, you can easily build audiences based on their current position in your sales funnel, and target them with ads tailored to that position. For example, top-of-funnel prospects might see ads that focus more on brand awareness while those closer to conversion would see more sales-focused ad content.
Create An Effective Retargeting Campaign.
To get the most from your retargeting campaign budget, there are a few things to keep in mind:
- Think From A Customer’s Point Of View. Customers are incredibly savvy, and they have high expectations. Your retargeting campaigns should include ads that feel relevant and personalized to suit your audience. Think carefully about where your audience is in their buying journey as you develop your strategy and creative.
- Invest In Quality Creative. Without ad creative that stands out, you’re not likely to receive much traffic from your retargeting campaigns. A highly-targeted campaign with an enticing offer can still fall flat if the creative isn’t compelling enough, so make sure you are willing to invest in engaging ad creative.
- Monitor And Adjust. Your work isn’t over once you’ve launched your retargeting campaigns. As with any digital advertising campaign, you also want to take the time needed to monitor your ad performance and make any necessary adjustments.
By creating retargeting campaigns that are relevant and interesting to your target audience, you can develop a highly-effective marketing strategy that turns more prospects into customers. Considering your audience’s needs, concerns, and pain points as you build your campaign strategy will help you reconnect with them with the right message at precisely the right time.
To learn more about creating a digital advertising strategy that drives results for your business, contact our team for a free Digital Marketing Plan. We will take a look at your current digital presence, and provide you with tailored feedback that will help you grow your business online.