What Is Remarketing?
Sandra is doing some shopping online, and comes across a bag that she loves. She adds it to her cart, then her dog starts barking to get let in and she forgets all about it.
The next day, Sandra notices an ad for the very same bag. Reminded of the bag she wanted, she goes ahead and buys it because she’s got the time now.
If Sandra hadn’t been reminded to buy the bag, she may have forgotten about it forever.
This is fundamentally what remarketing is, and it’s a huge driver in sales for many E-Commerce businesses around the globe.
Remarketing is a sort of marketing that targets people who have previously interacted with your company in some way. You can promote a specific set of advertising to someone who visits specific pages on your website or searches for your business on Google.
This lets you set up a whole automated sequence of events, pitching to a potential customer automatically over a set amount of time. Platforms like Google, Facebook, Instagram, and even Twitter all have their own remarketing tools.
How Does Remarketing Work?
The process of remarketing to a potential customer is actually fairly simple.
- A potential customer visits your website, browses, and leaves.
- The customer keeps visiting other websites over the course of their day.
- This person now sees advertisements for your website on various other sites, including their own social media feeds.
- After seeing these ads, this potential customer is a little more used to your business, having encountered it a little more. This process of reminding them can go on for weeks.
- Eventually, the user returns to your website, and finally makes a purchase or gets in contact.
As we can see here, the core ideas of remarketing aren’t complex. It’s a solid way to stay in your potential buyers front of mind.
Why Should My Business Retarget?
1. Generate More Sales
Simply put, an additional advertising stream managed effectively is going to generate new customers.
2. A Cheaper Cost Per Customer
Retargeting is a very budget efficient way of advertising directly to people who have already expressed interest in your brand. Over time, you can optimise your campaigns to ensure that you generate more sales from the already interested audience, and spend less on advertising over all.
3. Build Brand Affinity
Brand affinity is how much a potential or existing customer relates to your businesses values and messaging. People are more much likely to purchase from a brand they have come into contact with multiple times and feel more familiar with. Retargeting helps you do just that.
4. Improve Cost Effectiveness
Retargeting is a very budget efficient way of advertising directly to people who have already expressed interest in your brand. These ad viewers are much more likely to convert into customers.
5. Build Customer Loyalty
You can retarget customers who have already made a purchase too. As we’ve previously discussed, customer loyalty is a valuable metric. Retaining an existing customer is much cheaper than winning a new one, and retargeting allows you to advertise directly to your existing customers.
5. Reduce Cart Abandonment
Retargeting & remarketing reduce cart abandonment significantly. Many people abandon a cart for reasons outside of their control; reminding that potential customer about their previous intent to buy something cane bring them back to your site to purchase. Offering additional discounts after a certain time can serve as an extra incentive as well.