Retarget Lost Sales – Increase Conversions while Saving Time and Money
One of the fastest growing and effective online marketing techniques is that of retargeting. Businesses recognize the value of using this method to go after the ones who got away and recapture lost sales, but many who launch retargeting campaigns don't realize how cost effective they can also be. Not only does retargeting increase conversion rates, but it also saves time and money. And what business doesn't want that?
To understand how valuable retargeting can be to your business, let's take a look at exactly how it works.
In basic terms, retargeting lets you capture the behavior of your visitors, such as which pages they viewed or what product they looked at. A tiny snippet of code is placed on your website that is used to keep track of those visitors who come to your site to browse around but leave without converting. This information is then used to get your ads in front of those potential customers as they surf the web and view other websites.
Marketing service providers, like AdRoll, help to optimize this technique by working with the largest ad exchanges to help ensure that your ad gets displayed over multiple networks and give you maximum exposure to your target audience. It keeps your brand on their minds and encourages them to come back to you when they're ready to make a purchase.
So how does retargeting save you money? It's simple. Because you are able to get product specific ads in front of people who have already shown an interest in what you have to offer, the chances of them clicking on your ad are significantly higher than with traditional display. This translates to a substantial increase in both conversion and click through rate (CTR). Because of this, businesses who retarget can see anywhere from a 20-70% reduction on cost per click expenses.
Each click generated through a retargeting campaign can also be considered even more valuable than clicks that come from traditional display, because the people you are retargeting have already expressed a certain level of interest in your product. It only stands to reason that if your original audience responds to a retargeted ad, chances are much higher that they're ready to buy.
Additionally, given the fact that retargeting lets you optimize your marketing efforts and reach a specific audience, you are able to save a good deal of time because with retargeting, the work is done for you. And every business owner knows how valuable time is. You can use the time you would have otherwise spent blindly marketing to a potential customer base for other important business activities.
Retargeting allows you to effectively reach your audience across the broad expanse of the internet, and give them promotions and ads for things they want or need, because you were able to understand their interests by measuring their behavior on your site. This gives you the unique advantage of keeping your brand on their minds and reminding them that when they're ready to buy, it's you they should buy from. Not only does retargeting increase your conversion rate significantly, but it also provides a substantial time and cost savings, leaving you room in your schedule and budget to more efficiently run your business.