As we approach the holiday season, many businesses are looking to increase their marketing efforts, whether that is advertising on streaming radio, launching a video marketing campaign, or reserving billboard advertising. However, one of the most effective campaigns initiatives that your business can take is to invest in retargeting. This creative freedom allows business owners to create a campaign based around their target audience and marketing preferences. Some of these retargeting capabilities include social media retargeting, postcard retargeting, and more.
This blog post takes a deeper look into 5 important reasons to invest in retargeting. It also explores the impact a retargeting campaign can have on your business.
An Overview of Retargeting
Whether you are familiar with the term ‘retargeting’ or not, you have most likely been on the receiving end of a retargeting campaign at some point in your life.
But what exactly is does that mean?
Retargeting is a marketing initiative in which a business will locate its consumer base online and create pathways to bring that target audience to their website and/or brick-and-mortar business. A common example of a retargeting campaign is seeing an ad for a product you recently browsed. However, there are many other retargeting options available, such as retargeting ads on social media and even retargeting postcards (if an address is available).
5 Reasons Why Your Business Should Invest in Retargeting:
1) Retargeting Increases Conversion Rate
Whether you want more people to make a purchase, or sign up for your newsletter, you are looking for ways to increase your business’s conversion rate. This can be a struggle for many businesses that don’t know which strategies to utilize to let consumers know about their product or service and get them to act on it.
That is why an increased conversion rate is one of the many benefits of a retargeting campaign. In fact, consumers that receive retargeting ads are more likely to convert by up to 70%. Imagine the impact this increased conversion rate would have on your business!
2) Retargeting Decreases Cart Abandonment
As a business owner, you have most likely looked at advertising as a method of bringing customers to your website. But did you know that only 2% of new site visitors will make a purchase on your site? Even worse, only 8% of customers will return to a website to complete their purchase.
This is one of the many reasons why including retargeting in your business’s marketing plan is a crucial factor. With retargeting, the check-out rate increases from 2% to 26%…a major jump! Cart abandonment also sees a 6.5% decrease when retargeting ads are utilized, indicating that these ads are helping consumers to return and complete their purchase.
3) Retargeting Boosts Brand Awareness and Recall
Consumers often browse through several websites before making a purchase. This can make it easy to forget some of the websites they visit on their purchase journey. A retargeting campaign, however, can help keep your business at the forefront of consumers’ minds by presenting ads to boost brand awareness and recall. Even if consumers choose not to make a purchase now, these retargeting ads will help guide consumers back to your site when they are ready to make a purchase.
4) Retargeting Brings Back Consumers to your Website
Along with increasing conversion rate, decreasing cart abandonment, and boosting brand awareness and recall, retargeting ads also see success in getting consumers to return to your website.
As mentioned before, retargeting has a large impact on bringing back new site visitors to complete their purchase. However, retargeting ads are also known for receiving 3x more clicks then regular ads and boosting site visits by more than 700%. A retargeting campaign can complement your other advertising campaigns by creating paths for their return!
5) Consumers Have a Positive Experience with Retargeting Ads
With online privacy being such a strong topic today, advertisers may be worried about their customer’s reaction to retargeting ads. This is especially true since retargeting ads are personalized to the products and/or businesses the consumer was browsing. However, only 11% of consumers react negatively to retargeting ads! Additionally, almost a third of consumers report a positive experience with retargeting ads.
Invest in Retargeting to Support Your Marketing Initiatives
Whether your goal is to bring consumers to your website for a return visit or remind them of the products and services they were browsing, there are a number of ways a retargeting campaign can support and complement your business’s marketing goals. After all, businesses that have utilized retargeting have noticed increased conversion rates, site visits, brand recall, and more. For an in-depth analysis on retargeting, be sure to read our post on the importance of including retargeting in your digital marketing campaign.
With so many benefits from retargeting campaigns, now is the time for you to incorporate retargeting into your marketing initiatives. If you need help starting in the right direction, Media Venue is here! For more information on how to launch your retargeting campaign, check out our remarketing capabilities, or email Cassie at firstname.lastname@example.org for more information. Enhance your marketing investment with Media Venue!
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About Our Blogger
Charlotte Mason has more than 3 years of experience in the digital media industry. Her focus is on writing, social media management, and email marketing. Her enthusiasm for the creative aspects of marketing keeps her regularly seeking innovative advertising solutions for her clients.