If you are not retargeting your website visitors, you are missing out on transforming prospects into customers. Retargeting might seem “too complex” or “not worth your time”, but taking advantage of this marketing tactic can reap real rewards.
Here are five reasons you should be using retargeting as part of your comprehensive marketing strategy.
- Retargeting Raises Conversion Rates
The more times a prospect views your advertisement, the less likely they are to take action. In general, if they don’t respond after the first few views, they never will.
However, don’t assume they cannot convert! It could be they didn’t respond because they were busy at work, were distracted, or were away from their wallet. Remember, too, that prospects can be at different stages of the buying journey, and if they are in the research stage it may take a while to make a decision.
Don’t let these prospects get away: They are still viable leads. Research has shown that the more ad impressions presented to retargeted audiences, the higher the conversion rates.
- Retargeting is Affordable
Don’t settle for a low Quality Score or Relevance Score in your pay-per-click campaigns. That not only affects how effectively you are reaching your audience; it has been proven to increase the cost of your advertising.
On the other hand, when you serve content to prospects who have previously interacted with your website, there’s a much higher chance they will respond and interact with your ads as they have already shown interest in your business.
- Retargeting Makes Marketing Easier
Direct response advertising should definitely be in your marketing mix, but it can waste time, energy and money when directed to ‘cold’ customers. It’s expensive to convert cold customers on social media.
Instead, you can create website pages that are customized to audience preferences based on their viewing activity. This enables you to hone in on appeals that tap into specific audience interests. Since these prospects are further along in your sales funnel it can be a faster conversion cycle.
4. Retargeting Builds Your Online Business Brand
How does branding work? By repeating the same message again and again until people automatically align your business with that message. When you hear the term, “Just Do It “ you think of Nike, right? When you see the golden arches, you immediately think of McDonald’s.
Retargeting allows you to relay your message more times so your prospects will subconsciously brand your business.
- Retargeting Increase Customer Lifetime Value (LTV)
Consumers have busy lives and many will forget about your business (and use someone else) if they aren’t continually reminded that you’re an option. If you’re not retargeting to your current customer base, you’re lowering your customer lifetime value.
Getting Started with Retargeting
So now that you’re considering retargeting, you may be wondering how to get started. Google states that it reaches over 90% of Internet users in the world, with 65% returning to use their services every single day. Facebook has more than 1.4 billion active users of which 900 million are active daily. These networks are a must in the marketing arsenal of any business.
Retargeting is a tremendously popular and effective tool for businesses of all sizes. Take advantage of it and you will be reaching more prospects with greater efficiency and transforming more of them into paying customers.