According to recent re-targeting statistics, approximately 92% of people who visit your website are not ready to convert, however, they are in a good position to be primed for conversion. Retargeting campaigns are designed to increase brand awareness and conversions by reaching consumers who have previously shown a direct interest in purchasing a product or service. Direct interest means they have had an engagement with the brand before either through the website, socials, or keywords related to your business. Many types of retargeting are either cheap and easy to implement or can be automated, which speaks to the benefits of a succinct re-marketing strategy.
Why is retargeting important?
There are a variety of reasons why retargeting should be a significant part of your marketing strategy. Firstly, it increases brand recognition, brand awareness and brand recall. As you’ve probably heard it takes around 8 touch points to turn a lead into a sale, as the majority of visitors to your website, socials etc aren’t quite ready to convert. Retargeting allows you to continuously touch base with your potential costumers, providing them with additional information that will hopefully persuade them to return and reconsider. Utilising retargeting also enhances overall trust between your brand and your customers, increasing the likelihood they convert.
Types of retargeting:
Search Engine Marketing:
Search engines such as Google provide a variety of creative ways to retarget users that have searched and clicked on your paid search ad before. Retargeted ads are 10 times more likely to convert than display ads. Depending on their search term you can retarget with ads to get them further down the path to conversion, or even offer them a specific deal related to their initial search.
Social Media Ads:
Social media re-marketing tools allow you to create custom audiences based on users who have previously visited your site, looked at certain products or pages. By creating sponsored content to track users from your website to their social channel you can increase brand recognition and traffic back to your site.
Shopping cart abandonment is one of the most significant obstacles for eCommerce retailers to overcome. The average abandonment rate ranges from 60 - 80%, which amounts to a lot of lost revenue. Seeing as abandonment email conversion rates sit at 8 or 9% there are plenty of opportunities to increase your overall conversion rate with an email you can automate.
So far the tactics we’ve covered focus on bringing potential customers back to your website, but what do you do when you get them there. Focusing on website personalisation can help increase conversion. Offering previous visitors and customers products they’ve already viewed, or deals based on previous activity increase the chance they will convert.
Re-targeting is an essential part of any e-commerce business. Although there are a variety of ways you can use retargeting, implementing a variety of tacts in your re-marketing strategy will help you to maximise the number of potential customers you re-capture, and increase your overall conversion rate.