Top 5 Reasons You Should be Retargeting Your Visitors
As a business owner, you already know that website traffic does not necessarily equal sales. No matter how much traffic your site gets, your bottom line will suffer if there are not conversions. What do you do with the traffic at your site? You can retarget your marketing to your visitors to create brand awareness and improve sales.
Retargeting enables marketers reach qualified visitors who have interacted with their brands on various media channels, come to their sites and not converted. The marketing method combines the efficiency of search marketing with the power and reach of display. Here are 5 reasons why you should be doing retargeting:
Most website visitors do not buy on their first visit
Based on analytics reports, your site may be getting significant traffic, many clicks but few conversions. Studies show that less than 5% of first time visitors will actually buy at your website. Most online consumers research and compare products online before they make a buying decision. Retargeting helps you to go after these prospective buyers and keep your brand on their mind as they research. With enhanced branding, you can expect repeat visitors that are likely to convert.
Increase conversion and CTR
Getting positive ROI from traditional banner ads campaigns can be difficult if you do not target your marketing to a defined audience. For example, if you run a banner ad campaign on a highly trafficked website where your demographically targeted prospective customers are likely to be, your ad impressions and clicks could be high, but conversions sub-optimal. This is because these visitors are not specifically looking for your offer when they see your banner. With retargeting, you can pursue users who have already showed interest in your ads. This will increase your click through rate (CTR) and conversions.
Create custom segments for each campaign
Campaigns targeting a well defined market result in higher conversions. Marketers should target their audiences with different creatives and goals based on behavioral segments. The more custom your targeting is, the better your chances of conversions. In addition, through this segmentation you can see how each group is performing in terms of CPA, CPA or CTR and further optimize your campaigns.
Top of funnel ad campaigns can be expensive with relatively low ROI especially if you are running run of exchange or run of network campaigns i.e. campaigns with no defined target market or data appends. Retargeting offers better ROI since the audience is defined and has already interacted with your brand and expressed interest in your offer. Since you probably paid something to get them to your site in the first place, you should focus on moving them down the funnel with retargeting. Based on data from previous campaigns, you can tailor your offers to meet the needs or your audience and customize your creatives for different market demographics. Clicks on retargeted ads convert better, thus reducing your CPC (cost per click) expenses.
Create product specific ads
With retargeting, you can take advantage of insights such as prospect behavior, demographics, the product or pages they views and so on. This gives you a vantage point on marketing and creation of custom ads. You can produce your creatives based on these insights and at the same time offer deals or promotions on other offers the visitors may be interested in. Retargeting helps you to capitalize on the interest of your audience in your offers by offering them related products. This encourages them to come back and close more deals.
Online marketing can be difficult if you do not target your efforts to a defined audience. Understanding who your audience is crucial to improving sales. Retargeting helps you to reach more targeted prospects at a lower cost and realize better ROI.
Founder & CEO
Ryan has his hands in a bit of everything, but he mostly focuses on client success and the technical aspects of advertising. Ryan likes 90’s hip hop, heli-skiing, and spending time with his family.