Remarketing is known as a strategy that involves exposing ads to people who’ve visited your website or used your mobile app. This strategy has proved particularly cost-effective in increasing your sales conversions because you’re reaching out to customers who have already displayed an expressed interest in your products or services.
‘Remarketing is the method of enticing the ‘lost conversions’ to return and potentially make a purchase’ states Hanife Erisen, co-founder of Virtual Assists. ‘It is particularly a great strategy for small and new business owners for a number of reasons, but particularly because the costing involved is small.
“Remarketing is so powerful because it allows marketers the opportunity to continue the conversation that otherwise may have only been a 30-second decision on the part of the consumer,” said Jason Hobbs, founder of digital marketing company The Found Group. “When someone comes across the website of a small business, the potential consumer’s initial experience may not be enough for him or her to make a decision. That’s where remarketing comes in.”
The digital age has made this especially possible today due to the ability to track activity on your website. ‘It used to be that only large, data-centric organizations were able to invest in data mining’, stated Raj Beri, business head of Uber India. ‘But small businesses across all industries now have access to the tracking tools necessary to take advantage of digital remarketing.’
Access to easy third-party tools and services from a number of companies like Google, small company owners are now in the remarketing game and how they do it is at their fingertips also. There are a number of strategies available and each have their own plus sides, such as remarketing through Google Adwords, which exposes ads to your past visitors as they browse Display Network Website, utilising Sisplay Network Apps. Dynamic remarketing, uses ads that include products/services that people have viewed on your website.
If you want to launch a remarketing campaign, here are three tips to make it successful.
1. Spreading your campaigns across a number of channels.
‘Businesses tend to choose specific channels for their remarketing campaigns, such as display, banner, Facebook or video ads’, said Mike Hans, founder and CEO of Forge Group. The issue is here that consumers aren’t on just one channel. Just as in any other marketing efforts, it’s important to catch the consumer where they are. This means spreading out across a variety of channels, including (and perhaps especially) mobile devices.’
2. Segment your remarketing lists.
It is recommended to segment your list of web visitors according to behavior for an especially targeted remarketing campaign. For example, if a consumer gets to the last page of an ecommerce checkout process and doesn’t complete the purchase, that person should be added to a different segment for a different messaging set than a visitor who only visited the homepage.
“This consumer was very interested in buying something, but decided not to at the last second, perhaps to do a little more price comparison-shopping,” said Hobbs. “That should inform you to run ads that address price-matching guarantees, which will put people back into your ecommerce system so they don’t buy the competition’s product instead.”
3. Don’t be afraid to test and fail.
There’s no straight line to success, Beri said. What you thought at the outset about your product and how people use it will change daily. They key is to “fail fast” – learn from what worked and what didn’t, and keep improving on your product and business model.