Retargeting is a tested technique allowing you to reclaim your web store’s visitors, making them loyal customers in the future. If you’re an experienced webshop owner, you probably already know that not too many people buy from you during their first visit to your shop. You should not worry, though, because you are not alone in this.
According to reports, only around 2% of people would decide to purchase something during their first visit to an online store. That means businesses have to find a way to bring back the other 98%. Apart from various digital marketing methods, retargeting has proved to be a successful method for accomplishing such a task.
In this article, we are going to explain what retargeting actually is, why do so many businesses choose to implement it, and what are the best ways to kickstart your own retargeting campaign today. Stay tuned!
What is Retargeting?
As the name suggests, retargeting means targeting people who visited your website but left without buying anything, or without clicking your call-to-action button. The main idea is to nudge those people gently and convince them to come back and finish their buying cycle. Unfortunately, this is easier said than done.
Forbes Magazine points out that retargeting consists not of one, but of five different forms. These are made for pockets of different sizes and are also designed for different business objectives. However, thanks to the internet and the fact that nearly everyone is online today, none of these forms come at a high price tag. You won’t have to invest much but would get positive results fast.
How Does Retargeting Work?
Essentially, it relies on your website visitors’ traffic info to showing them ads while they browse other websites, inspiring them to come back to your shop and finish their purchases. Their web browser gets a piece of code called a cookie that originates from your site, which tracks their online activities, and then displays them your ads.
Some people might view this as an intrusion on their privacy, which is why you have to play safe here and create a retargeting campaign according to the best current practices. If your ads are cleverly designed, not pushy, and not an obvious instance of retargeting efforts, most of them wouldn’t mind seeing them.
Here are other essential facts you have to keep in mind:
- Instagram is one of the leading social media platforms perfect for running retargeting campaigns. Its ad revenue from this technique gathered $10 billion in 2019 only.
- On average, about 46% of digital marketers agree that retargeting is the most underappreciated technique of online advertising.
Just about 12% of global marketing experts use the technique to boost brand popularity and credibility.
Retargeting Cycle in a Nutshell
The approach is straight-to-the-point, simple, and very effective. The cycle begins with your first-visit customers dropping their e-cart and bouncing off the website. The related traffic info is collected. After analyzing the situation and running a properly designed retargeting campaign, the customers will be shown personalized ads about where they left off during the next web surf session. If everything is done right, most of them would eventually return to your webshop and end up purchasing your products.
Does It Really Work?
In short – yes, it does work if you create and execute your retargeting campaign properly. Many testimonials highly regard retargeting as one of the most successful digital marketing tools.
For example, according to PR Newswire, this marketing approach provoked a jump of brand name searches in search engines of up to 1,046% in comparison to reaching target audiences, efficiency pricing, contextual targeting, etc. This information is very validating, especially when every CTR (click-through rate) point matters.
Who Can Benefit the Most?
As we said earlier, there is no one-size-fits-all approach here. Every business needs to do research and come up with the best way to attract its former web visitors. However, some businesses will have to do a more challenging job than others.
For example, web stores that offer pricier items are usually in big trouble. When potential customers browse for their items, they are much more prone to bouncing off the webshop compared to visiting another website where they buy cheap, everyday items. It comes as a no surprise then that the most bounced-off websites offer products and services related to airline tickets and travel, retail and fashion, finance, and similar.
To sum it all up, even though retargeting is relatively fresh on the advertising runway, it is not going to fade away anytime soon. It is predicted that soon its influence on the online market will get drastically stronger than it ever was. As all brands want to succeed and stay afloat in the fierce eCommerce world, it will only get more intriguing to see what all these retargeted ads will bring to the global economy.