Why Is Retargeting Important in Advertising?
On average, only 2 percent of visitors take action on their first visit to a website. This statistic emphasizes how retargeting can help. Ad retargeting focuses on the other 98 percent of visitors with the goal of sending them back to a website for purchase or conversion. Find out more about why retargeting is important and how you can include retargeting in your campaigns with the Agility Platform.
The term “retargeting” can be misleading, as ad retargeting isn’t about changing your target. Instead, advertising retargeting focuses on reaching former visitors and drawing them back to your website, landing page, email campaign, social media post, or other forms of digital media. Retargeting ads target warm leads who have shown interest in your company, but, for whatever reason, did not move on to the next step in the buyer’s journey. Implementing retargeting efforts into your marketing campaigns can help you convert more leads.
Retargeting ads use pixels or cookies (or both) to track the internet users who have completed a specific action—viewed an ad, visited your website, or scrolled through your social media page, etc.—but did not convert. Those users will then repeatedly see ads for your brand as they navigate the internet.
Often, these people are interested in what you are selling but may have a minor concern. Those potential leads get customized ads that can help address and even resolve those pain points.
For example, a potential buyer who’s concerned about cost might buy if you retarget them with a discount code. The price change can address the issue they had with the cost, and calling the sale a “limited-time offer” can motivate them to act now or risk missing out.
Marketing professionals can implement different types of retargeting efforts, depending on the demographics of their target audience. The main types include:
According to research published by True List, nearly 88 percent of marketers use site retargeting as their main strategy. Using retargeting efforts in conjunction with other tools can boost the chance of making a sale by 50 percent. Nearly half of those surveyed in the study shared by True List believe that retargeting is currently an underused tactic.
The stats show that it’s worth the effort to retarget leads and turn them into potential customers.
Some of the additional benefits of retargeting include:
Just because a customer doesn’t purchase their first visit to your website doesn’t mean they will never make a purchase. Companies of all sizes deal with the effects of bounce rates, which tend to be quite high across every industry. Retargeting helps improve your overall conversion rate by directly addressing your bounce-back rate.
Retargeting lets you generate awareness about related options if your business offers more than one product or service.
The adage in marketing is that a person needs to see an ad seven times before they are ready to purchase. Whether it’s seven times or more, it takes multiple points of contact before a lead becomes a customer. These points of contact can be as simple as visiting your website or seeing a retargeted ad, but each one plays an important role in the customer’s buyer journey.
Retargeting helps customers who spend more time in the sales funnel get the information needed to overcome any pain points or objections. The best part about nurturing reluctant customers is that they are more likely to become loyal brand ambassadors—they have engaged with your brand on multiple occasions and now feel they know and can trust you.
Just because people are visiting your website doesn’t mean they understand your brand’s unique selling points, values, or products. Retargeting helps you create and develop a relationship with customers. Even if they don’t convert right away, retargeting helps you remain top of mind when they finally choose to make a purchase.
The Agility Platform makes it easy to create, manage, and update digital ads through one intuitive platform. It’s designed to help with everything from retargeting to geofencing.
Drive sales, improve conversion rates, and boost your bottom line. Contact us today and explore how easy it can be to implement retargeting campaigns.