This is a guest post from Rebecca Daneault from AdRoll
If you do business on the web, you’re surely familiar with the frustrating fact that it doesn’t matter how much traffic you have coming in to your site if they’re not buying anything. While traffic is important, it’s conversions that count toward your bottom line. So what are you doing to overcome this obstacle? What methods are you employing to achieve your goals? There are certainly plenty of options, but if retargeting advertising isn’t one of them your business may be suffering.
Here are seven reasons you should be running a retargeting campaign as part of your online marketing strategy.
Less than 5% of visitors to a website will actually buy on their first visit.
The numbers don’t lie. Research has shown that an alarmingly high number of clicks to your site will unfortunately end up bouncing. Retargeting allows you to go after these “window shoppers” and keep your brand on their mind as they surf the web. This encourages repeat visits and effectively recaptures a good deal of those “lost” sales.
It increases conversion and CTR.
Traditional banner ads work on a more general basis, targeting a large audience on certain sites that are believed to be frequented by your target audience. Retargeting, on the other hand, allows you to target people who have already shown an interest in your product. Because your targeted ads are specifically being marketed to your original audience, the chances of them clicking on them are much higher. This increase in CTR in turn results in a higher conversion rate.
It saves money on CPC.
When someone clicks on a banner placed through traditional display, the chances of them actually staying on your site and making a purchase are disappointingly low. If you’re paying per click for these visitors, your ROI will probably not be as high as you’d like. But retargeting lets you reach an audience that already likes what you have to offer. Clicks on retargeted ads offer a much higher chance of converting, thereby reducing your cost per click expenses.
Target audience is already pre-screened.
Retargeting lets you achieve a much more defined reach than that of traditional display. Your target audience has essentially already been “pre-screened”, in that they’ve been to your site and shown some level of interest. So instead of introducing your brand to a huge pool of unknown web surfers, with retargeting you are effectively reminding those who already know about your brand to come back when they’re ready to buy.
The ability to create product specific ads.
Retargeting lets you measure the behavior of your audience, right down to the specific page or product they viewed. This provides you the unique advantage of marketing with product specific ads, offering enticing promotions and deals on the very same items those visitors already showed an interest in and encouraging them to come back and close the deal.
It increases online presence and brand awareness.
Marketing is all about getting the word out about your business. Online it’s about establishing a solid presence and increasing the awareness of your brand. Consumers like to buy from businesses they feel they know and can trust. By retargeting, you will keep your brand on the mind of your target audience as they surf other sites, building their awareness and establishing a level of trust. When they’re ready to buy, it’s your site they’ll go to, because it’s your brand they’ll remember.
It complements other marketing strategies.
There are two pieces to an effective online marketing strategy – getting traffic and converting that traffic into customers. Most of the methods available today (SEO, search, PPC) are geared toward the first step, drawing traffic to your website. But many businesses forget about the second step and as a result lose countless sales since a good majority of the traffic coming in will leave without converting. Retargeting encompasses the second piece of the marketing puzzle, because it focuses on getting those lost sales back. It’s the perfect complement to the other marketing strategies you’re probably already using, and will complete the marketing puzzle making it much more effective and efficient.
Doing business on the internet can be extremely profitable, but getting to that point can also be quite a challenge. You have to work hard and establish an effective online marketing strategy to get your brand recognized, draw traffic to your site, and find a way to convert that traffic into paying customers. Among the many methods to achieve these goals, retargeting is one of the most effective and, given the seven compelling reasons listed above, should be a part of any well rounded and successful online marketing plan.
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