Retargeting is designed to reengage potential customers who have already shown interest in your product or service by visiting your website or typing certain keywords into a search engine. Since most consumers don’t immediately purchase after their first visit to your website, retargeting can be a powerful digital media tool to add to your overall marketing strategy. Once you can identify a consumer on a purchasing journey for a product or service you offer, retargeting can help keep your brand top of mind by continuing to advertise to them across various media platforms.
How Does Retargeting Work?
When a consumer visits your website, cookies are stored on their device, allowing you to track and analyze their online behavior. When the user visits other websites or platforms within the advertising network – such as LinkedIn, Google or Facebook – the platform recognizes their presence through the tracking cookie. When you run a retargeting campaign, the platform then displays personalized ad content to these users encouraging them to return to your website to complete the desired action.
Remarketing vs. Retargeting
Due to the overlap in their objectives – to re-engage consumers – the terms remarketing and retargeting are frequently used interchangeably. However, remarketing is the original term coined before cookie policies were introduced. Remarketing simply meant to continue to advertise to previously engaged consumers, generally through email. Retargeting is actually a subset of remarketing and focuses on using targeted ads based on visitor behavior obtained through cookies.
How can Retargeting Benefit Business?
Retargeting offers several benefits for businesses aiming to improve their marketing efforts and maximize the effectiveness of campaigns. By focusing your advertising dollars on an audience that is already engaged, you are able to increase brand awareness, improve the relevancy of your ads, allocate your resources more efficiently and gain valuable insights into user behavior and ad performance.
Increased Brand Awareness
Potential customers need repeat exposure. The marketing Rule of 7 says that it takes approximately seven exposures to your brand before a potential customer will make a purchase. With retargeting, you help build familiarity with your brand by repeatedly exposing already interested customers to your ads, reinforcing brand recall and awareness and establishing a stronger presence in their minds.
Increased ROI
Retargeting allows you to target consumers who have already shown interest in your product or service, compared to broader audiences. By focusing your ad spend on this engaged audience, you can allocate your resources more effectively, increasing the chance of conversion and ultimately, increasing your advertising ROI.
Improved Targeting
With the information you can gather through retargeting, you can tailor your message to your potential customers, making it more relevant and appealing.
Creating specific ads or offers such as promoting related products, offering discounts, or providing personalized recommendations, helps to remind and persuade users to take the next step. This customization increases the relevance of your messaging, which in turn improves the chances of engagement and conversion.
Improved Ad Performance and Metrics
With retargeting, you can gain valuable insights into user behavior and ad performance, allowing you to refine your messaging, ad placements and targeting strategies. By analyzing metrics such as click-through rates, conversions and engagement, you can assess the effectiveness of your campaigns and make data-driven optimizations.
Overall, retargeting is an effective strategy for reaching out to potential customers who have already demonstrated interest in a brand, product, or service, improving conversion rates and overall marketing ROI. If you aren’t retargeting your potential customers, your competition probably is. By keeping your ads in front of consumers you are keeping your brand top of mind, so when they are ready to purchase, it’s your brand they remember.
This blog is courtesy of MMC Web Developer Allison Stephanouk