The level of competition in the entrepreneurial landscape has increased significantly in recent years. As such, marketing is more important than ever for the success of a company. The goal of advertising is widening the market base and increasing sales. However, it’s not just about targeting a larger audience but the right audience.
Marketing efforts targeted to clients who have a need and have already displayed an interest in your products and services are more likely to succeed. This is why marketers are increasingly turning to remarketing strategies.
In this article, you will learn about remarketing and how it can be an invaluable tool for your business.
What Is Remarketing?
Remarketing is the practice of displaying ads on digital platforms for consumers who have visited your site or already made a purchase. The advertisements that appear on a user’s screen depend on the interest they display.
For instance, if a person visits an online shoe retailer and views a wide range of sneakers, remarketing ads should be centered on sneakers or other related clothing items such as sweatpants. If the ads that follow-up display formal shoes and formal wear, they are less likely to purchase.
In simple terms, it is a marketing strategy that involves presenting ads featuring specific items each particular user is interested in. Compared to regular display ads, remarketing ads have ten times higher Click-Through Rate (CTR).
Benefits of Remarketing
An effective remarketing strategy has several benefits for businesses such as:
Increased Visibility and Top of Mind Awareness for Qualified Visitors
Due to the competitive nature of modern-day business, it is the organizations that remain in consumers’ minds that grow. Since remarketing targets people who have already interacted with your company, it is effective for reminding them about your brand and boosting recall.
In many cases, clients do not convert during their first visit due to reasons such as:
- They were doing research
- They weren’t completely sold yet
- They were distracted from making the purchase
Remarketing allows you to reposition your brand as the perfect solution for their needs.
Increased Conversion Rates
With digital marketing, the most important statistic is the proportion of visitors who make a purchase. Increasing your conversion rate means that you can generate more sales from the same number of visitors.
Data suggests that only an average of 2% of website visitors are converted. However, the 98% that fail to make a purchase have displayed an interest in your products, making them a more likely customer than others. This is why customers who view retargeted ads have a 70% higher likelihood of being converted.
Read: What is the Buyer’s Journey?
Types of Remarketing
There are different ways and multiple channels you can use for your remarketing campaign.
- Search Remarketing (Google Ads): Your ads will be displayed at the top of search engine result pages (SERPs) when a person who already visited your site searches for relevant terms.
- Video Remarketing (Google Ads): Your ads are displayed as pre-rolled videos on Google, YouTube, and other platforms when previous site visitors search for relevant terms or services.
- Dynamic Marketing (Google Ads): This remarketing involves presenting ads with specific products and services that a person viewed on your website.
- Display Marketing (Google Ads): Displayed ads are placed on other websites enrolled for Google display ads.
- Social Media Remarketing: Involves placing ads on social media platforms targeting people who have visited your website.
- Customer List Remarketing: This involves uploading contact information of prospects from Google Adwords and social media remarketing to target them on other platforms.
Is It Worth It?
When it comes to remarketing, do not think of it as a different marketing strategy but an addition to the current one. It allows you to cultivate potential clients until they make a purchase while boosting brand recognition. If done well, remarketing can increase sales significantly.
Andy Bush is President of Bush Marketing. Contact him today at 416-214-4298 or andy@bushmarketing.ca for a discussion about how Bush Marketing can help your website do more for your business.
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