A post by Swen Schreiter
According to one million webinars, blog posts and slide decks over the past few years, offering value and providing a fully customized experience are the cornerstones of modern marketing.
But what exactly does that mean? Remarketing has been praised as the answer to that question – and for good reason. Remarketing is the perfect technique to engage your customers and potential customers in such a way that makes them more likely to convert.
So, what is remarketing exactly?
Remarketing is about targeting a highly-engaged audience that is more likely to convert. Remarketing enables you to engage people who’ve visited your website, used your app, or walked into your retail store. It is mostly in the form of text or image displays that are shown on the webpages your customers visit and the apps they use.
To illustrate this, think about a potential customer, Jane, who wants to buy red shoes. Jane looks at red shoes on your website, but abandons right before the purchase. Without remarketing, Jane might not return to your website to buy those red shoes.
However, with remarketing you can create a campaign to show an ad – and maybe a special offer – for red shoes to all your visitors that showed interest in red shoes, including Jane. Here is a visualization:
5 Reasons for remarketing
A person that has already expressed interest in your product or brand is more receptive to relevant ads. With remarketing, you can get in front of them again on different channels and increase the chance of a conversion. WordStream found that with an increase in the number of ad impressions, conversion rates can double.
In other words, remarketing works. Here’s why
1) Turns bounced visitors into customers
Without remarketing bounced visitors would stay bounced. With remarketing you can still turn them into a customer.
2) Cost effective
Finding the right audience is becoming more and more important. With remarketing, you save money in your campaigns by only targeting a relevant, pre-defined audience.
3) Only provides relevant content/ads
You only reach people when they are most likely to buy and have seen your offer before. This also reduces the onset of ad fatigue.
4) Increases brand awareness across channels
With remarketing, you increase the amount of impressions you get across channels, which benefits your branding campaigns.
5) Promotion of content
Promote your content to pull in qualified customers and increase your high-value conversions.
Remarketing is a powerful tool to reach the hyper-connected customer and serve them relevant content. However, remarketing needs to be useful for the user. Untargeted ads can do more harm than good.
In an ever-changing marketing landscape, remarketing might not be a magic bullet – ad fatigue and data privacy regulations are real concerns – but it is still the most powerful and cost-efficient tool to create efficient and relevant marketing campaigns. You have to engage your potential customer on multiple devices and show them relevant offers if you want to be successful.
Why is remarketing important?
Remarketing is important simply because it can leverage all your customer data, like visitor history and CRM data, to create relevant experiences for your customers. Making them more likely to convert.
There are two common ways of achieving remarketing. One is based on the use of a pixel to drop a cookie to identify the potential user later, the other uses existing lists (from a CRM, for example). Both have their distinct advantages and allow marketers to form highly-customized segments for their remarketing campaigns.
With the knowledge you gained from either using a pixel or a list, you can also create a custom lookalike audience to make your remarketing efforts more effective. Lookalike audiences identify people who share lots of the same traits as your original audience, giving you a larger pool of potential customers to target.
Sounds simple, but you should ask yourself, “What does the customer journey look like in 2017?” and “How can I provide a valuable offer for my customers?”. Those questions are much less simple.
Especially in a world that is increasingly hyper-connected. Customers might come from a hundred different touchpoints. The journey will have likely crossed at least two different devices and started hours or days before the actual conversion.
In the hyper-connected world, the attention span of customers is short and divided. You constantly compete with other brands and offerings, friends on Facebook, the newest tweet, etc. So, it is important to provide relevant offers and stay in the mind of the user.
Looking at some statistics, you can see that it is increasingly difficult to convert people.
- Only 16% of shopping carts are converted into an order on mobile vs. 26% on desktop
- Over all sectors, there is a 76.8% abandonment rate
- In Q4 2016, only 2.95% of people converted on their first visit to an ecommerce shop
- The average conversion rate for smartphones is 1.55%
So, what does that mean for you as an online marketer?
You can’t just place an ad or send a newsletter and hope that your customers convert then and there. It might take some remarketing.