Retargeting: What it Is and Why You Should Get On Board
It happens to us all: You’re browsing on a website for an item, but you leave the page without making any sort of conversion. Then, later, you inevitably see an ad for that same product or brand while perusing a completely unrelated webpage. Why does the internet know what you want to buy, and how does it keep showing up in all the right places to remind you?
It’s not magic—it’s retargeting.
Figure 1. Source: Retargeter
Figure 2. Source: Me!
Figure 3. Source: Me!
Conducted through third party networks, retargeting is an affordable solution to reach leads. In addition, it packs a big ROI punch: Retargeting boasts average click-through-rates (CTRs) up to 10 times higher than regular ads. It’s also accessible enough that even social media giants like Facebook have retargeting options that cater to businesses of all sizes.
Remarketing: What it Is and Why You Should Get On Board
The concepts of remarketing and retargeting are similar—both hinge on piquing the interest of a shopper who has shown some level of engagement thus far—but while retargeting is rooted in the strategic placement of display ads, remarketing is all about email. Brands that embrace remarketing take advantage of the high number of abandoned digital shopping carts—almost three quarters of all digital carts globally, to be exact—by creating reengagement campaigns that include coupons and other enticing offers. In other words, if you put something in your online cart but fail to complete the purchase, you might be getting an email later from that brand to bring your almost-purchase top-of-mind. That’s the beauty of remarketing.
In addition, remarketing goes beyond leveraging abandoned shopping carts to also encompass post-purchase email campaigns. These campaigns can be geared toward upselling or cross-selling, as seen in Figure 4 below.
Both retargeting and remarketing have a place as part of your digital marketing playbook. As your audience becomes more mobile and ecommerce-focused, it’s critical to find additional ways to engage them while delivering value. Make this a goal in 2017: Use retargeting to energize your top of the funnel leads, and say yes to remarketing for converting those at the bottom of the funnel.
What has been your experience with retargeting and/or remarketing to date? If you have success tips to share or questions I can answer, post them in the comments.
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