Picture this: You’re exhibiting at a trade show and someone is very interested in your product. You talk to them for about 5 minutes and can tell that your product is definitely a great fit for their business needs. They don’t purchase your product right then and there because they’re in a rush, but they hand you their business card. Would you throw out their card? Or would you follow up with them?
Now consider this: 98% of visitors to your website will leave without making a purchase. Retargeting is your shot at following up with that 98% of visitors who ‘left a business card’ on your site. And yet, 4 out of 5 online marketers aren’t using retargeting to bring back lost prospects (Kissmetrics).
Why is this?
What is retargeting?
Okay, so maybe you haven’t incorporated retargeting into your online display strategy because you’re not exactly sure how it works. Let’s back up a step and start with the basics. According to ReTargeter, retargeting (or remarketing) can be defined as a form of online advertising that keeps your brand in front of bounced traffic from your website.
How does it work?
Retargeting is integral to your 2016 online marketing success and here’s why:
It improves your brand.
When someone is retargeted, they’re going to see your ads all over the Internet. Your brand will become increasingly familiar to those targeted users. Often, they won’t even realize they’re being retargeted, and they’ll think you’re just dominating the digital world. Score!
It yields greater engagement with your ads.
Retargeting lets you connect in a meaningful way with people who were interested enough in your products or services to visit your website in the first place. No doubt this is going to lead to more clicks on your ads. In fact, according to Marketing Land, retargeting ads have click-through rates ranging from 0.3-0.95%. This is a whopping 3-10x higher than the industry average!
It pulls people through your sales funnel.
As mentioned earlier, someone visiting your site for the first time is like your initial cold-call to a potential customer. Retargeting brings these people back to your site, kind of like that second follow-up you have with a lead. As retargeting ads continue to follow your past visitors around the web, these users are becoming more familiar with your brand, making multiple visits to your site, and sliding nicely down your sales funnel.
It increases conversions.
Did you know that 70% of people abandon their shopping cart without making a purchase? We’ve all done it. But what if that new TV you had your eye on (but didn’t want to fork over the money for) kept following you around the web with ads. You’d probably be more likely to go back and buy it. According to HubSpot, users who are retargeted are 70% more likely to convert.
It’s a no-brainer. If you’re not retargeting, you’re doing it wrong. When it comes to display advertising, you can’t afford to neglect retargeting from your strategy. Do you want to improve your brand? Get more clicks on you ads? Increase conversions? Well then what are you waiting for?!
Is retargeting already part of your strategy? Let us know how it’s working for you!