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“70% of customers who are retargeted with display ads are more likely to convert” – Criteo
Don’t miss your chance to significantly increase online revenue and re-engage bounced website traffic.
Retargeting is a paid marketing strategy that businesses can implement to advertise to customers who have previously interacted with their brand. For example, these ads can appear as images and can follow the user to different websites. Technically speaking, the hidden code called cookies, is embedded into ecommerce websites to track a user’s journey on a website. After the user leaves a website, they will eventually have your ads served up to them. Chances are, you have browsed for a product, left without making a purchase, and then seen ads for that same product on different websites or on Facebook – that’s retargeting.
Keep reading to find out why your online store should employ retargeting as part of your online advertising strategy. We break down the benefits, types, and services available for retargeting.
Benefits of Retargeting
- More Sales. Statistics have demonstrated that click-through rates and business name search queries have been the catalyst for more conversions, all thanks to retargeting with display ads. A major benefit from retargeting comes from the fact that consumers don’t mind seeing ads from companies they have previously expressed interest in.
- Greater Reach. Unlike cold calling, display retargeting enables businesses to recapture the attention of consumers who are familiar with your brand and products and nudges them to convert. Retargeting also helps a brand remain “top of mind” with consumers.
- Increase Brand Awareness. In addition to increased sales, ecommerce businesses can utilize retargeting efforts to create brand awareness and showcase products. Over time, consumers naturally build trust with brands they recognize. Thus, presenting your brand through retargeting is another avenue to maximize brand visibility. In fact, 35% of marketing teams turn to retargeting to help increase brand awareness. (Scribd)
- Insights. Online businesses can leverage the extensive Google Analytics data to identify the source of website traffic after a customer leaves their site. The insight gained from analyzing website data can also be used to develop a more sophisticated marketing strategy for driving revenue.
Different Types of Ad Retargeting
- CRM Retargeting. Customer data is undeniably one of the most valuable assets of any business. Well segmented mailing lists can be utilized for retargeting efforts by importing email lists into retargeting platform databases that use the contact information to serve display ads.
- Search Retargeting. Consumers are targeted based on keywords used in search queries. In other words, consumers are only served up specific ads based on the words they searched on Google, Yahoo, or Bing. This is a great strategy for businesses that are already employing search engine marketing (SEM).
- Email Retargeting. Reach any prospect that opens your email by simply inserting retargeting code into the email’s HTML or signature.
- Contextual Retargeting. Targeting consumers by showing ads to those who have shown interest in similar products, categories or affiliates.
- Social Media Retargeting. Social media users are served up ads on social media platforms like Facebook, LinkedIn, Instagram, and Twitter based on previous searches, website visits, and even conversations in text messages.
It’s important to implement social media and web retargeting campaigns to maximize awareness and the effectiveness of your campaigns. Both channels should be considered before choosing one over the other. Make sure you read customer reviews to help you determine which retargeting service will be best suited for your company’s marketing needs.
Running display ad campaigns are fairly easy to implement. An ecommerce business can virtually let the campaign run on its own after the code has been added, and the account has been set up with the desired retargeting service provider. However, it is important to ensure a marketing team member is regularly monitoring sales performance and analyzing reports to ensure you are maximizing paid marketing efforts and getting the most out of the retargeting expense.
About The Author
Katy Ellquist, Miva’s Digital Marketing Strategist, is an accomplished writer, marketer, and social media analyst who has created sophisticated content campaigns for a broad range of professional clients. She brings to Miva a complex understanding of ecommerce trends and techniques, building upon extensive digital agency experience and a prior role as direct liaison to Miva’s top accounts. Katy is a regular contributor to the Miva blog, covering essential ecommerce topics like design & development strategy, site optimization, and omnichannel selling, with the goal of increasing the actionable knowledgebase of the entire Miva community.