What Is Retargeting and Why It Matters
Retargeting allows you to reach out to people who have shown interest in your brand’s products or services with digital marketing. Have you ever done an online search for a product and then seen ads on social media or other websites about that same product? That’s retargeting! Retargeting uses advertisements to remind potential customers about your brand and encourage them to return to take further action.
Many people will not purchase anything on their first visit to a website, since most people browse, compare, or get distracted before making a purchase. Retargeting keeps the brand at top-of-mind and increases the likelihood that these visitors will return to purchase from you.
How Retargeting Works
A retargeting campaign initiates when an individual shows interest in our website or ad by visiting it or performing an action such as clicking on it. Once tracked, the individual will be placed into a defined audience segment that we will use later to display ads to them on a variety of digital sales channels, including search engines, social media, and websites they frequent.
Since retargeted users have an existing relationship with the brand, they are identified as the most likely group to convert. This increases the efficiency of your marketing dollars by helping businesses achieve better revenue generation from their advertising investments.
A Simple Retargeting Example
Picture this: you stumble upon a great advert for a T-shirt that has a really cool print, and you click the link to view and visit the website, but you don’t purchase the item. After viewing other content on Instagram and/or Facebook, you then see another advert for that same T-shirt again. The reason why the brand has targeted you again is because you showed some interest previously on Facebook, and they are now attempting to get you to convert into a purchaser. You have seen the same product advertised multiple times, and this repeated exposure often results in a person purchasing a particular item.
How Retargeting Boosts Conversions
Specific calls to action (“Shop Now” or “Learn More”) are typically included in retargeting advertisements. Since most users already have some degree of interest, it’s effective to use simple messaging. Brands may want to create multiple variations of their ads and evaluate which ad performs best before adjusting their overall marketing strategy.
Test new ad formats (e.g., images previously vs. images and video) to keep things fresh, and constantly analyse and optimise the campaign to prevent it from becoming stale or overly repetitive to users.
Benefits of Retargeting for Businesses
To get their message out to the right audience at the right time, businesses use retargeting, optimise retargeting. Rather than wasting resources on a mass audience, brands direct marketing efforts to users who have already demonstrated an interest in the product or services. By doing this, businesses will see a higher conversion rate and a better return on investment (ROI).
Another benefit of retargeting. Retargeting is the ability to up-sell and cross-sell products and/or services. For instance, if someone abandons their shopping cart, they can receive reminders via email to complete the transaction as well as see recommendations for other similar products or services. These reminders help develop brand recognition and trust with repeated exposure to the brand over time.
Retargeting vs Remarketing
Retargeting and remarketing are shopping cart terms. ‘Retargeting’ and ‘remarketing’ are generally interchangeable, with ‘retargeting’ and ‘remarketing’ being interchangeable terms, with a slight difference between the terms. ‘Retargeting’ and ‘remarketing’ are interchangeable terms. ‘Retargeting’ generally refers to the use of paid advertisements on websites and social media to retarget users who have already visited a site, while ‘remarketing’ generally refers to using email marketing to convert users to customers. Both terms refer to the practice of encouraging users to come back and take further action on a site.
When Retargeting Works Best
When customers abandon shopping carts, or when an organisation, while ‘remarketing’, has a new product launch, or when an organisation needs to clear inventory, retargeting can be beneficial. Retargeting done correctly will result in higher conversion rates and not overwhelm customers.
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