Sometimes, there comes a point when you have to come to terms with the fact that what you’re doing isn’t working. And, if that’s the case, that’s totally fine! Business, marketing, and life – in general – is basically just a giant game of trial and error. In reality, all you need to do is keep working at it until you find the stuff that really gets results. When it comes to marketing, in particular, methods can get old fast. This is where retargeting comes in: the saving grace of old marketing trends. Keep reading to find out more about this great new technique that could possibly even save your business.
What is Retargeting?
Retargeting is actually much more than just a marketing technique. In fact, it’s a whole technology designed to significantly increase your conversion rates using both psychology and the beauty of the internet. That may seem a little bogus, but don’t worry; we’re going to explain it to you so that you can utilize this brilliant marketing strategy for your own business.
In order to explain, let’s first imagine a real-life scenario where retargeting is utilized. Have you ever visited a website – perhaps for a retail store or even an online game, like on FaceBook – and then later seen an advertisement for that same website while you are browsing the internet elsewhere? This is a prime example of retargeting. Let’s explain further.
Retargeting is a type of marketing technology that follows visitors after they leave your site, showing them your advertisements while they use various internet services such as Facebook, Youtube, Pinterest, or Google. Retargeting locations aren’t just limited to those, however; they may also be shown ads while generally browsing the internet or even while using mobile apps.
How does Retargeting Work?
There are two different types of retargeting, and each specific method works differently than the other. The two main types of retargeting marketing are pixel-based and list-based. The largest difference between the two is the type of visitors they target, and each one has its own set of benefits that depend on your specific needs as a business.
The cookie tells retargeting platforms to show the users specific ads based on their visit to your website. This marketing technique can be rather useful, especially considering how immediate the targeted ads can be shown to users after leaving your website. However, it only works if people are visiting and then leaving different pages of your website and can sometimes be a complicated procedure to install.
On the other hand, list-based retargeting uses the information of users who already have contact information entered into your database. This method uses email addresses from a list that you upload into a retargeting platform to target users with those email addresses on different social media platforms.
While this specific marketing technique is extremely customizable and beneficial in targeting specific people, it also has several downsides. Because you upload the emails yourself, the process is much less automated and will end up taking much more of your time to complete than pixel-based retargeting. You should also keep in mind that many users may not give you the same email address that they use for their social media accounts. Because of this, the effectivity may be significantly decreased, which makes this method much less popular than its counterpart.
Why Should Retargeting Matter to You?
The benefits of retargeting mostly come down to statistics and psychology. As discussed by our friend, Apolline Adiju, only 4% of your customers are actually ready to convert when they visit your website. The other 96% leave your website and continue to browse the internet for their own interests. However, it’s clear that they’re at least interested in your product due to the fact that they did visit your website in the first place.
The great thing about retargeting is that you can remind that 96% that you’re still there and worthy of their conversion. Note that this does not mean that they will end up converting as a result of seeing these ads. In reality, they’re likely not going to. The primary reason to invest in retargeting is for brand awareness. After all, it takes around seven different occasions of seeing your brand to make a customer actually want to convert. By constantly showing relevant ads to those users who have previously visited your site, you are reducing the amount of time it will take for them to be ready to convert.
In the end, retargeting is a super budget-friendly method of making sure people who visit your site are keeping your business in mind. Eventually, this may lead to conversions as they continue to see advertisements relevant to your business. If you find yourself having tried and failed at so many other marketing techniques, it’s probably time to give this one a try.