Remarketing can help you win back those customers who abandoned your website without completing the desired action.
Did you know?
- The conversion rate is 25% higher in websites that run remarketing campaigns
- Cart abandonment can be reduced by 6.5% if you embrace retargeting
- Retargeting ads can increase your CTR by 10x compared to display ads
Now, if these stats have caught your attention, then you have surely guessed where we are getting with it. Yes, you are right! We are emphasizing all those cart and page abandonments that you experience when customers visit your website and fail to buy anything.
Unfortunately, a whopping 97% of the customers who visit any website tend to leave without doing any transaction. They never return, unless you find simple yet effective ways to win them back. This is exactly where Remarketing or Retargeting can help.
What is Remarketing?
Remarketing enables you to show your ads to customers who already visited your website and left without taking any action. All popular platforms like Google Ads, LinkedIn, Facebook, Instagram, and YouTube have remarketing options available. Through Remarketing, you can focus on audience segments like:
- Those who visited your website during the past 30, 60, or 90 days
- Those who interacted with your social media page in the past
- Those who visited a critical page on your website, like the Pricing page or a Case Study
- Those who viewed a certain video on your social media channel
- Those who viewed or converted from previous ad campaigns
- Those who abandoned your cart or contact form
Remember that these segments are all distinct and offer you the opportunity to pinpoint your target audience. Have your objectives clear, and measure performance against those objectives so that you don’t waste money chasing the wrong customer segments.
No matter how you implement your remarketing ads, this is a mandate in your marketing playbook!
Remarketing Versus Retargeting – Getting the Definitions Right
Remarketing and Retargeting are two different things. However, retargeting is a part of remarketing. Retargeting mostly involves serving relevant ads to specific users, based on the inputs from cookies.
On the other hand, Remarketing spans the overall process of collecting user information, creating lists of potential customers, and specifically targeting them with ads and email campaigns.
Although remarketing and retargeting are highly effective on their own, strategically combining both these techniques can be the answer to win back your lost prospects and customers. This will surely boost your bottom line.
How Does Remarketing Work?
Designing remarketing campaigns for your online store is simple. Pixel tag installation is what you need to do.
- A pixel tag is a small code that is generated when you create specific campaigns with an ad network.
- When you add remarketing pixel tags to your website, the code drops a browser cookie every time a new user visits your website.
- This helps to track those users and create a retargeting list.
- When these users visit other websites that belong to the network of your ad platform, the system promptly serves your ads to these users.
While creating ads on specific platforms, you get the option to choose your remarketing audiences.
Defining Your Remarketing List
Remarketing or retargeting lists contain information about those website visitors who carried out specific actions on your website. In Google Ads, you can define several Audience Lists that will keep populating over time, so that you can target your ads to them at any time.
Remarketing Lists for Search Ads (RLSA) include visitors who failed to complete the desired actions. For instance, your ‘Product Page remarketing list’ consists of visitors who landed on your ‘Product Page’ within a specific time period. Here, when a user visits your ‘Product Page’ they get added to your Remarketing list.
Different types of remarketing lists can be created and your remarketing ads can be customized to target each of these lists.
When Should You Consider Remarketing?
Now that you are quite clear about the concept of remarketing and retargeting, your next big question would be when exactly you should use this strategy? Well, that depends on your marketing goals.
Some businesses constantly run their remarketing campaigns for all their website visitors who failed to convert. This also includes those who downloaded assets by completing forms but did not buy.
On the contrary, most marketers go with a highly personalized and advanced approach to remarketing. Here, the remarketing campaigns and retargeting ads will be targeted as per the predefined criteria.
Let’s say, you want to run a remarketing campaign to those who landed on a specific ‘Product Page’ only during sales or when promotional offers were running. Such a targeted approach prevents businesses from annoying potential and/or returning customers by bombarding them with multiple irrelevant ads.
Where Should You Retarget Your Customers?
There are numerous channels and platforms for remarketing. Let’s now explore some of the top retargeting media.
RLSA
Remarketing Lists for Search Ads is specific to Google Ads and lets businesses customize their remarketing ad campaigns for users who previously visited their websites.
Direct Display Marketing
This is the simplest yet most popular type of retargeting. Here marketers display specific ads to the visitors across various display ad networks, such as Bing, Google, and Yahoo, after they visit their websites.
Remarketing across Social Media
In this, marketers showcase their remarketing ads to the users across various social media channels, including Twitter, LinkedIn, Facebook, etc., after they visit their websites.
Re-engaging with Native Remarketing
Businesses often re-engage those who visit their websites with high-value content that is recommended by premium publishers through native ad placements.
Suitable for Budget-Constrained Strategies Too!
The best part of remarketing is that it is highly suitable for your budget-constrained marketing strategies too. This is because retargeting helps to increase the ROI on every ad spend.
So, if you are juggling with a limited budget or you have already spent enough for the first click and do not want to spend more, then you can fine-tune and refine your approach with remarketing.
The best way to go about would be to revisit your existing data to identify devices, Operating Systems as well as geo locations that have the highest conversion. You can then customize remarketing campaigns for these segments. This helps to minimize costs and simultaneously boost conversion.
Summing Up
Remarketing and retargeting are cost-efficient and highly effective ways to win your customers back. This is because, here, you will be targeting the users who have already expressed interest in your offerings. With quick budgeting and the right targeting, marketers like you can achieve great results.
As remarketing works on Cost-per-Click, Cost-per-Impression, and/or Cost-per-Acquisition strategies, it gives you additional control to adjust bids and manage expenses like never before.
If you would like help with running Remarketing or Retargeting campaign, reach out to Tagbeans Digital today!