Retargeting. The ability to reach consumers with relevant messaging based on previous behavior is one of the best tactics in marketing.
Would you rather market to a person you know visited your site, explored several pages, and put an item in the shopping cart but bounced prior to purchase, or would you prefer someone you know nothing about? The reality is you’ll most likely need to spend marketing dollars on both people, but if you’re smart about your strategy you can lead the unknowns into your retargeting audience to build efficient and effective campaigns.
With retargeting, you can deliver specific messaging relevant to a consumer’s recent actions—be it a shopping cart abandonment, a previous purchase, or simply a landing page visit. According to a recent article, people who see retargeted ads are up to 70% more likely to convert.
As you’ll see below, retargeting allows a marketer to recapture an internet user and drive them to conversion.
There are several ways to reach a consumer through retargeting depending on the data you’re leveraging. For example, if a user conducts a search engine query related to your offerings, you can retarget them with a display ad. Likewise, if a user visits your site and researches a specific product, you can craft an ad about that product and reach them on other digital platforms such as social media sites.
The best approach to any new digital campaign is to start with analytics and test multiple strategies to see what works best.
Real results from retargeting
Knowing more about the audience you’re reaching means you’re more likely to convert them, and thus increase your return on investment and advertisers can achieve very positive retargeting results.
- Retargeting cart abandoners can increase conversion rate up to 26%
- Retargeted ads average a CTR 10x higher than that of Display ads
- 30% of consumers have a “positive” or “very positive” opinion of retargeted ads
- 25% of consumers appreciate being reminded of products they’ve previously pursued
Retargeting stats from around the web
- Retargeting can lift ad engagement rates up to 400%.
- The average click-through rate (CTR) for display ads is 0.07%, while the average CTR for retargeted ads is about 0.7%.
- 60% of U.S. online buyers said they notice ads for products they researched on other sites.
- Retargeting goals are increasing brand revenue and acquiring new customers (at 33% each), increasing website engagement (16%), and brand awareness lift (12%).
- 46% percent of paid search practitioners say that retargeting is the most underused online marketing technology.
- 20% of marketers have a budget specifically for retargeting.
- 60% of consumers are neutral about the topic of retargeting ads, while 25% percent say they like them because they remind them of what they were looking at previously.
- Kimberly-Clark relies on retargeting, reporting a 50-60% percent higher conversion rate for customers who have been retargeted.
Why is retargeting important?
Retargeting is important for your marketing campaigns for a number of different reasons. Retargeting allows you to concentrate your ad spend on people you know have some sort of interest in your business. This is also a great way to increase brand awareness by sending repeat messaging to users who have visited your site, abandoned their shopping cart, or previously purchased an item. As it is focused on previous visitors, retargeting is a great reminder for potential clients about your brand or product.
Have you used Google RLSAs?
Remarketing Lists for Search Ads is a fantastic way to reach people who have already searched for your most important keywords.
Want to learn more about how Kenshoo Search can help you be more productive, drive performance, and gain valuable insights to optimize your search engine marketing campaigns? Contact us today or set up a quick and easy demo.