Have you ever been browsing the internet and seen an ad for a product or service that you’ve recently looked at on a different website? If so, then you’ve experienced retargeting. Retargeting is a form of online advertising that allows businesses to target people who have previously visited their website. It’s an incredibly effective way to reach potential customers, and it can be a huge boon for your business! In this article, we will discuss what retargeting is, and why it matters for your business.
What is retargeting?
Retargeting (also known as remarketing) is a way to reach people who have already shown an interest in your product or service. It involves placing a tracking cookie on the computer of someone who has visited your website, and then serving them targeted ads when they visit other websites.
The logic behind retargeting is that people who have already shown an interest in your product are more likely to convert than someone who has never heard of you before.
Retargeting can be an effective way to increase brand awareness and boost sales. However, it is important to use retargeting in a way that is not intrusive or annoying, as this can quickly turn people off.
Why do we need retargeting anyway?
The reality is that only about 2% of website visitors will convert on their first visit to a website due to any number of reasons.
Maybe they’re at work and don’t have time to buy anything.
Maybe they’re browsing their phone during the ad break of their favourite show and then they forget about it.
Maybe they’re just browsing and not actually interested in making a purchase just yet.
The fact is, most people who visit your website are not going to buy anything on their first visit.
Without the use of retargeting you would just have to cross your fingers and hope that the people who visit your website will convert without any extra help. Retargeting gives you the ability to reach out to these people and remind them about your product or service, which can lead to more sales in the long run.
Retargeting allows you to reach the other 98% of potential customers who may be more likely to convert if they’re given a little extra persuasion.
Common applications for retargeting
Retargeting can be used in many different ways but here are some of the most common…
Retargeting for eCommerce
Retargeting is often used for ecommerce brands to encourage people to complete their purchase.
People who have viewed a particular product on an ecommerce store ‘s website, for example, might be served an ad for that product on a different website. This can be a great way to increase sales, as people are more likely to buy something if they have been targeted with relevant ads.
Retargeting for lead generation
Lead generation is another area where retargeting can be effective.
People who have filled out a lead generation form on your website, for example, might be served an ad which prompts them to come back and complete their enquiry with the business.
This can be a great way to increase conversions, as people who have already shown an interest in your service are more likely to convert than someone who has never heard of you before.
What is the impact of retargeting ads?
Website visitors who are retargeted with display ads are 70% more likely to convert.
Because retargeting allows you to attract people who already were interested in your product or service, studies show that sales can increase by up to 20%.
Image what your profitability would look like if you increased sales by 20%. It could be game changing to the overall success of your business.
Are retargeting ads expensive?
That’s the best part!
By only displaying ads to people who have already visited specific pages on your website, you can be sure that they are interested in what you have to offer. This allows you to laser-focus your ad campaigns, and get the most bang for your buck.
In addition, retargeting and remarketing are extremely cost-effective. Because you are only targeting a small, highly-engaged audience, the cost per impression is usually very low.
As a result, retargeting and remarketing are great ways to reach your target audience with a small budget.
Where can you run retargeting ads?
Retargeting can be done on many different platforms, including Google Adwords, Facebook, and Twitter.
Essentially any display based ad platform will most likely enable you to run retargeting ads.
Which platform you choose will depend on your business and the audience you are trying to reach. For example, if you are a small business targeting local customers, then Facebook might be the best option for you. If you are looking to retarget people who have already visited your website, then Google Adwords would be the best platform to use.
Conclusion
Retargeting is a powerful tool that can help businesses increase sales by reaching out to potential customers who have already shown an interest in the product or service. By using retargeting, businesses can reach 98% of potential customers who may not be ready to make a purchase on their first visit to the website.
So if your website is already receiving website traffic, retargeting is likely to be an easy to to increase sales, without trying to generate new customers.
