Many digital marketers, at some point, find themselves asking, “what is remarketing?”
Remarketing, otherwise known as retargeting, is an emerging marketing method. Normally, marketing involves attracting new visitors to your website, and hoping they will become customers. Hope is not the best marketing strategy when it comes to customer conversions, however.
Site visitors are not always ready to buy on their first visit, and many are simply browsing. Often, a visitor will add to their cart, get distracted, and never complete their purchase. It is imperative, therefore, that a business stay present in a visitor’s mind after they have left the site – though this can be a difficult task, purely because of the amount of daily information visitors consume.
But How Can Remarketing Help My Business?
Remarketing is good for business purely because it helps customers. When you remind your customers of a site they have visited previously, you can reminded them of what drew them there in the first place. But are adverts like this not annoying? A 2013 study showed that 30% of respondents had a positive response to online ads, while 59% were neutral. This study shows that customers do not respond negatively to site tracking, and some even actively view these types of adverts as beneficial.
Remarketing helps your business by keeping it present in the minds of potential customers. A visitor who is in the early stages of conversion may not be ready to make an immediate purchase decision, but seeing your adverts intermittently over the next few weeks could potentially remind them of their desire to purchase your products when they do decide they are ready. Studies have shown that an average conversion rate of 2.35% occurs from a landing page alone. However, remarketing can increase this rate by nearly 400%.
You can also use remarketing to inform existing customers of promotions and sales. This way, you can further increase brand awareness and repurchasing.
When Should I Use Remarketing?
Like with any kind of marketing, remarketing requires a firm understanding of human psychology. You need to balance placement, frequency, and segmentation. Never underestimate a customer’s desire for privacy. No one likes to feel like they are being watched all of the time. It would not do well to advertise on every site that the customer visits, as interest can quickly turn into dreaded annoyance.
Advert placement should be visible, but should not dominate an entire page, or hinder the visitor from utilizing the site for its intended purpose. Adverts should not be so frequent that they constantly bombard the customer, and they should not be so infrequent that they are lost in the crowd of other adverts. The distinctions are subtle, but they can mean the difference between converting a customer and losing a lead.
What are the Different Types of Remarketing?
There are various options available when it comes to remarketing. The right option for your business will depend on what you are hoping to achieve, and your intentions regarding customer conversion.
This is the most common form of remarketing. Site remarketing focuses on placing adverts in front of visitors to your site. This method is easy to use, but also easy to abuse. Visitors who visit your site may not have any interest in your product. Remarketing may just drive them further away. However, for customers who are interested, such as those who have filled and abandoned their carts, this form of remarketing can be essential. Give careful consideration to where on your website you want to initiate tracking.
This form of remarketing allows you to target your mailing list specifically, and can be highly effective when segmented properly. Platforms such as AdRoll and ReTargeter provide an easy way to implement CRM remarketing. When you upload your list to their database, they can match the individual users with the respective email address. This way, they can ensure that ads they are shown the appropriate adverts.When you upload your list to their database, they can match the individual users with the respective email address. This way, they can ensure that ads they are shown the appropriate adverts.
In the same way that people are dynamic, with their needs and wants changing day-by-day, dynamic remarketing allows you to be equally flexible. You are able to adjust your adverts to suit your customers’ latest interests. This type of remarketing allows you to manipulate adverts to suit your individual customers, making the experience more personal, and more likely to promote conversion.
Social Media Remarketing
As a business, you simply cannot ignore the powerhouse that is social media. Social media, particularly when it comes to the younger generations, dominates daily online content consumption. Facebook and other social media sites provide a variety of ways to remarket to your customers and visitors, including email lists and Facebook fan pages. You can access Facebook’s ad-platform through Facebook itself, or via third-party platforms like AdRoll.
So What is the Hype?
Remarketing is a fairly simple concept: you use advertising to remind potential customers that you are there, and that they should buy from you. With the constant onslaught of online media, it is easy to be lost in the crowd. Remarketing ensures that you are visible, even when a visitor is not actively seeking you out. An online presence beyond a simple website can increase visibility and attract more potential customers.
The greatest value lies in remarketing’s ability to target individuals specifically. When you make your prospects feel as though they are valuable, rather than just one of the crowd, they are more likely to become a customer. You no longer need to rely on hope to make sales. Remarketing will take care of that for you.