How to Employ Retargeting to Help Build Your Sales
Running an online business is not easy, considering you’re competing against millions of other online retailers as well as the individual’s attention towards other things. There could be thousands of people interested in your business, but the fact is, they may not take action and make a purchase when they go to your website. You may need to persuade them through a marketing technique called retargeting.
“Doing business without advertising is like winking at a girl in the dark. You know what you are doing, but nobody else does.” – Steuart Henderson Britt
Let’s use a scenario to further explain why you’d want to utilize something like retargeting.
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How would you feel if 100 people visited your website in 30 minutes and none of them made a purchase? You’d feel crushed, right? 100 people slipped through your fingers without one of them opening up their wallets.
Well, that’s precisely what happens sometimes.
According to AdRoll, only 2% of the visitors/website traffic converts after their initial website visit. And, as per Marketo, 96% of the website visitors are not ready to buy.
Well, aren’t you losing a huge chunk of visitors then? Yup! It can feel extremely defeating seeing the user count on your website and the dismal conversion rate. You want to bring back those lost visitors, don’t you? That’s where retargeting comes into play!
Now you might be thinking, “who likes to watch ads?” or “ads are annoying.” Here is a little secret: People don’t find retargeting annoying because the ads that get placed in front of them are for things they’ve been looking at and engaging with. It’s perfect!
As studies have shown, 30% of people show a positive reaction, and only 11% feel negative when it comes to retargeting ads.
What is Retargeting?
Suppose you visit an online store. You browse the website and add a few products to the cart, but you don’t make the purchase. And then, you move to the next website. After a while, you see an advertisement from the previous website/brand. Weird, right? Is it just dumb luck or something else? That’s retargeting!
Retargeting is a marketing strategy used by brands to stay in front of their potential customers, even after they leave their landing page or website. The marketer shows display ads to the visitors who viewed the website but didn’t take any action. It is done with the help of things called “pixels” and “cookies.”
There are two types of retargeting strategies:
- Pixel-based retargeting
- List-based retargeting
As per IAB, 70% of marketers use retargeting as the primary tool to increase brand awareness.
Retargeting is one of the best and most effective ways to bring visitors back to your website. Here are a few more benefits of retargeting:
- It helps to reengage potential customers. In retargeting, you show ads to people who already indicated an interest in your product or service. So, the chances of conversion are higher if you can get back in front of them.
- It helps with expanding your presence and increasing your overall reach. This makes your marketing campaigns much more effective.
- It drives more and better engagement as it connects you with the right audience in a meaningful way.
- It can increase brand awareness and make you stand out from the crowd and your competition.
- It can increase your conversion rate. Putting your brand in front of your target audience can convert the traffic into leads and then those leads into paying customers.
Make Retargeting Work for Your Business
For an effective retargeting strategy to work, you need to have a good number of visitors first. After all, if you don’t have visitors, who will you retarget with the ads?
Retargeting is one of the most effective strategies used by businesses across the globe. It allows you an opportunity to target the people who are already interested in your business and give them a subtle little reminder that you’re still here and to come back to finish shopping.
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Stop letting your visitors disappear and shop elsewhere potentially. Put an ad back in front of them and reengage them by employing retargeting methods to help increase your conversion rate and sales. After all, if you’re not converting sales, the life expectancy of your business diminishes.
Now that you know about retargeting, when are you going to start leveraging it and turning the clicks to your website into conversions and visitors into customers? The time is now to begin executing your retargeting plan.
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