In the past few years, a digital marketing strategy has emerged that’s helping businesses, specifically ecommerce websites, connect with their consumer base. The strategy has even helped some businesses achieve transaction improvement increases as high as 726%.
I’m talking about retargeting campaigns and tactics, which in the past 5 years have become an integral part of successful online businesses. Not to be confused with remarketing, retargeting is a form of online advertising that targets consumers based on their previous user behaviors. Moreover, retargeting is advertising to the same web traffic more than once.
Let’s put this concept into context. I have a habit of filling online shopping carts on my favorite website, and then getting cold feet during the check out process. Since I’ve been on that website and demonstrated a certain set of behavior while showing interest in a specific set of products, I will more likely than not have retargeting strategies directed at me.
What does that look like? I might receive an email with a special discount to prompt the completion of my purchase. Or, a more likely case, I will see ads of the exact products I abandoned in my shopping cart all over platforms like Facebook.
Competing brands also use retargeting to target the consumers who have been on their competitor’s websites. So, even though I might have been looking at a pair of shoes on Zara’s website, it wouldn’t be surprising to see an advertisement for that same pair of shoes hosted from Amazon (it’s basically Amazon vs. all out there).
Retargeting, as a sub category of remarketing, has no shortage of strategies or applications. Take a look at this infographic produced by Chango:
As you can see, there is room for retargeting in almost every capacity relating to your audience. But why take the time to do that? What are the tangible benefits of retargeting?
Benefits of Retargeting
First and foremost, it can (and in most cases does) drive the money you make from your ads above what you spend on them. For ecommerce websites, it all comes down to dollars and cents. And, since the overwhelming majority of ecommerce sites use retargeting, not implementing the strategy could put you at a steep disadvantage (i.e., your competitors will be retargeting your website traffic).
But wait-there’s more! Retargeting also drives a more favorable action from your consumers. When I abandon those shoes in my Zara shopping cart and then see them in an ad every day for a week, I’m highly likely to go back and purchase them. But next to the shoes is an ad for a suggested dress, also on Zara, that would look perfect with the shoes. That’s why retargeting directly facilitates the exact kind of purchasing traffic that ecommerce sites need.
Retargeting Tools
Now, obviously, if you have an SEO service provider or outsource your paid advertising/search, you can ask them about the retargeting strategies used for your website. But if you handle your own advertising and digital marketing campaigns, these are the crowd favorites for retargeting tools.
Google AdWords: You can put together a retargeting campaign right from the AdWords platform you’re used to. Being the apex of online advertising, Google also has a lot of information on how to use their retargeting tools and features, tips for getting started, and ways to track the impact it has on your site’s performance.
- Price: Pay as you go
AdRoll: AdRoll hooks a lot of ecommerce sites on with their claim that they make $10 for every one dollar spent. Though that might seem like an offer that’s too good to be true, it’s likely that your business will see returns reflective of that promise. Plus, through AdRoll you can manage customer segmentation and Facebook retargeting-the big kahunas of retargeting.
- Price: Pay as you go
Chango: If you’re interested in converting lost customers and raising brand awareness, Chango is the tool you should be using. Brands with conversions in mind have seen a 90% retention rate using Chango’s array of visual advertising tools.
- Price: Based on cost per impressions
Retargeting has the potential to perform equally or out-perform search, so if you’re looking for a “next step” to drive sales on your ecommerce website, this is the action to be taking.
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