What is Retargeting, and what are its Benefits?
Any good sales professional will tell you that persistence is pivotal to closing new business. However, many businesses neglect to apply this principle to their online advertising strategy. In fact, just two percent of online shoppers convert on their first visit. A retargeting campaign works to reestablish contact with the other 98 percent. But, what is retargeting, and how does it increase sales?
What is Retargeting?
If you are still wondering what is retargeting, here’s an example anybody can relate to.
Have you ever noticed an advertisement on a website for a different site you just left? That type of ad, which is called retargeting or remarketing, aims to lure potential customers back to a website by reminding them of what they were originally interested in. Retargeting is effective at reeling in busy customers who may visit your website, but then get caught up in doing something else.
How does it Work?
Where can Retargeting be used?
- Display ads
- Social ads
- Paid search ads
What are its Benefits?
1. Reach Missed Opportunities
What is remarketing best at doing? It’s best at reaching the ones that got away.
By placing your ad where a prospect goes next, it capitalizes on missed opportunities much more easily.
2. Targeted Audience
If someone has previously spent time on your website, they are likely to be already interested in your products or services. By targeting potential customers with ads on sites they are currently viewing, you can increase conversions.
3. Low Cost-Per-Clicks
Retargeting can be more cost-effective for businesses than pay-per-click, because it is more focused. Instead of displaying ads to a broader audience who searched for a keyword, you can target those who are already familiar with your website.
4. High Impressions
By displaying your ads on a larger network of websites, sales opportunities increase through an overall increase in impressions.
5. Brand recognition
Retargeting also keeps your company in the mind of the consumer. The more customers see your company name, logo, product or service, the better your chances of converting on a sale.