Retargeting ads are a crucial part of today’s digital marketing landscape. No other type of digital ad is nearly as effective. Retargeting ads outpace other formats in almost all important metrics, including click-through rate, conversion rate, and overall ROI.
They’re so popular, in fact, that over 80% of digital marketers reported using retargeting ads in 2016. Despite this, retargeting ads were named the number one most underused tool in online marketing in a recent survey of industry experts.
Demand and competition in the retargeting ad sphere are rising. Now more than ever, brands need to craft effective retargeting ads. If your business is increasing its retargeting ad investment, here are four strategies you can use to make your retargeting ads more successful…
1. Retarget Price-Conscious Shoppers
The biggest reason for lost conversions online is price hesitancy. In the five seconds it takes to think over the price, an on-the-fence user will close the tab and head to a new website. These users are fantastic retargeting opportunities, but they need a significant offer to entice them back to your website. Retarget them any time you’re running a major promotion, sale, or discount campaign.
2. Retarget Abandoned Shopping Carts
If you operate an ecommerce store, you’ve run into the abandoned cart phenomenon. While customers in a grocery store will rarely abandon a full cart of products, more than 65% of online customers will navigate away from your site with items in their cart. It’s a frustrating problem, but it’s one that retargeting can help with. These users are primed to convert with a gentle nudge, so retarget them shortly after their visit with a special discount, free shipping offer, or BOGO promotion.
3. Retarget Your Past Customers
Existing customers are more likely to make a purchase than users who’ve never spent money with you before. Customize your retargeting efforts for different types of customers and different types of campaigns. Consider upselling a recent customer with a complimentary product for their most recent purchase. For customers who haven’t visited your site in a while, let them know about new features and products that appeal to users with similar purchase histories.
4. Build Retargeting into Your Funnel
While retargeting is most popularly used to turn near-conversions into customers, it can be just as effective in other parts of your sales funnel. Have a popular blog? Retarget past readers with premium content that they can unlock with a newsletter sign-up. Do your customers tend to have a specific hang-up about your product? Retarget users who dropped out of your sales funnel early with ads that address this specific concern.