What is Retargeting?
You can gain a lot of information by investigating what internet or app users have previously researched and purchased. This information shows what a potential consumer’s previous intent was and can help you target particular items or services that are similar to these different products! This remarketing of products is defined as retargeting and it can help to improve sales and revenue through targeted advertisements! If an internet or app user has been researching something in particular, you can use this information to determine what he/she may be interested in on your app or website! This is an important tactic when it comes to better understanding consumer behaviour and getting customers to make purchases!
Why is Retargeting Important?
There are arguments as to why websites and apps should spend money on this form of targeting as opposed to placing more money further down the marketing funnel. While it is important that you spread your budget out across all levels of the funnel, retargeting marketing can help draw in high-quality consumers who are more likely to make a purchase, helping to increase revenue and the number of consumers who make it through the funnel! Retargeting is also designed to prompt those who may have items that are sitting in their shopping cart, ensuring that they remember what they wanted to order and finalise the purchase!
What are The Benefits of Retargeting?
- They prompt consumers: One of the biggest retargeting benefits is that this form of advertising helps to prompt consumers! While a consumer may not necessarily be thinking about purchasing something from you, if they see an advertisement about something that they have recently been interested in, it may prompt them to make a purchase. Retargeting is all about using a consumer’s interests to target specific products or services to them, advertising what you have to offer that may be exactly what they have been looking for! Because the consumer has already shown interest in what you have to offer, you have a far better chance of making a sale compared to randomly targeting those who may not be interested!
- Retargeting helps convert: You may have customers who are sitting with items in their basket but have not yet checked out and completed a purchase. Retargeting through emails or messages helps remind consumers of what they had previously wanted to purchase and may lead to them completing their order. By using targeted ads through Google Ads, you can help to ensure that your customers are reminded of items that they have shown interest in!
- You can test advertisement methods: Retargeting in marketing also helps marketers to better understand what prompts users to finalise purchases. Whether it is receiving an email that better describes the product or messages on a webpage that remind you of what is in your cart, through measuring the analytics behind the different approaches, websites can come up with the best methods of retargeting!
How Does Retargeting Work?
The retargeting strategy focuses on reminding consumers of the interest that they showed in a particular item or service, prompting them to finalise their order and complete the purchase. People often shop around and place things in their virtual shopping basket or add them to a wishlist and forget that they are there. Through retargeting advertising reminders, you can ensure that your customers do not forget about an item that they have expressed interest in! This reminder helps to finalise sales and increase the amount of revenue that your business receives, making it an extremely important aspect of digital marketing!
What Are The Things To Consider When Doing Retargeting?
When retargeting, it is important to consider the reasons why a consumer has not finalised a purchase. It may be because the particular item is quite expensive or the consumer is looking for something a bit more advanced, so showing a variety of different targeted items can help ensure that they make a purchase. Perhaps displaying some less expensive items, or something similar that is on sale, or showing an item with a few more functions can convince the potential customer to make the purchase! Another thing to consider is retargeting social media, which is becoming a new way to retarget items to particular audiences! Whether it is through paid advertisements or individual messaging, social media platforms are a great way to retarget potential customers!
When Should You Use Retargeting Campaigns?
Retargeting campaigns are extremely beneficial, and if you are selling a product or a service, particularly on an e-commerce website, it is important to have systems in place that are designed for retargeting potential customers! Retargeting helps to ensure that you do not lose any customers because they have simply forgotten to finalise a purchase, and a retargeted advertisement reminder goes a long way in ensuring that customers finalise and complete the purchase of the product or service that they were interested in.
A great example of a retargeting campaign is done by UberEats, which sends email or app messages if a customer has recently expressed interest in ordering from a particular restaurant! If you have an item that is sitting in the shopping basket, they will remind a customer and even offer alternatives if the meal in your basket is not exactly what you were looking for!