On average, only 2 percent of potential customers convert to buyers during their first visit to a web site. As a marketer, how can you bring the other 98% of your site’s visitors back to your brand? That’s where retargeting comes in.
Retargeting—also known as remarketing—is a form of online advertising that places your brand in front of people who have visited your website as they move through the Internet. Because retargeting focuses on people who have already demonstrated an interest in your products or services, it can drive higher engagement and conversion rates than traditional display advertising.
How does retargeting work?
Retargeting starts with the placement of a simple code on your website. When prospective customers visit your site, they are anonymously tagged for retargeting via cookies placed in their browsers. Over time, your potential retargeting audience will continue to grow.
Once you have a handle on technology requirements, you’re ready to move on to the next step: strategy. You can go in a number of directions with retargeting—so it’s important to consider the following questions as you navigate the available options:
- Where will your customers be most receptive to your brand? You can retarget exclusively on Facebook, Twitter, or another social network, choose general web retargeting, or do both.
- What channel is right for you? Although Google Display Network is the biggest fish in the retargeting pond, retargeting services are also available through Bing Ads as well as a number of third party networks.
- What is your budget? Most services allow you to set a budget based on Cost per Click (CPC) or Cost per 1,000 Impressions (CPM). Remember: it takes time to build up a retargeting audience, so you may not reach your engagement or conversion goals (or max out your budget) in the early days or months of your campaign.
Developing effective ad creative is another key element in your retargeting campaign. Your audience is already familiar with your brand—and your ad creative will be most impactful if it reflects this. In addition, it’s essential to keep channel in mind when you are developing creative. An ad you design for Facebook, for example, should have a more fun and casual tone than an ad you design for general web retargeting. Check out the examples of recent remarketing campaigns below:
As retargeting continues to grow in importance within the marketing world, brands need to similarly evolve their strategy and tactics to align with the latest channels and trends. For more information or a free evaluation of your remarketing strategy, please contact us today!