Turn browsers into buyers: The power of retargeting
October 24, 2024
Retargeting is a proven strategy for turning browsers—those who have shown an interest but haven’t yet made a purchase—into buyers. Let’s look at the science of retargeting and insights to boost your business conversions.
Understanding retargeting
Retargeting involves directing ads to individuals who have previously interacted with your business online through your website, app or social media but haven’t completed a purchase. Every click, page view, search query or abandoned cart leaves an opportunity to turn a browser into a buyer.
Why it’s important: Research indicates only 2% of web traffic converts on the first visit. Retargeting gets visitors to return to your business to explore more or make a purchase.
How it works: You can track your visitors as they browse other sites by using a small piece of code known as a pixel. After they visit your sites or social media, the pixel follows them to show targeted ads about your brand and viewed items. We know 62% of online shoppers are more likely to purchase when retargeted recommended products based on their preferences.
Budget considerations: Retargeting campaigns are cost-effective as they focus on a smaller, more engaged audience segment. The budget depends on factors such as the size of your audience and how long you want to retarget them.
Strategies for retargeting
Segment your audience: Not all potential customers are the same. Segmenting your audience based on behavior—such as pages visited or abandoned cart—allows for more personalized ads.
Personalize your message: Crafting messages to appeal to each audience segment increases the chances of conversion. This customization may include tailored promotions, reminders of abandoned shopping carts or personalized recommendations based on previous interactions.
Use dynamic ads: Dynamic ads display content around what your potential customer has seen or shown interest in to drive higher engagement. These personalized ads help increase brand loyalty and encourage conversions.
Clear call-to-action: Make sure your ads drive the action you want the person to take like clicking on a webpage, making a purchase or signing up for a service.
Measuring success
Like any advertising strategy, the success of retargeting campaigns should be measured using clear metrics, such as:
Click-through rate: Gauge how effective your ad is in prompting action.
Conversion rate: Measure the percentage of visitors who complete a desired action post-click.
Return on ad spend: Evaluate the efficiency of your ad spend in generating revenue.
How to get started
Define your goals: Determine what you want to achieve with your advertising strategy.
Build audience segments: Use data to create audience segments based on their interactions with your store, website or app.
Craft personalized campaigns: Create personalized messages for each audience segment. Tailor your ads to their specific interests, needs or location.
Choose the right channels: Work with our team of experts to guide you in retargeting campaigns on various platforms like Google Display, AdRoll and Facebook Dynamic.
Monitor and optimize: Analyze key metrics and make adjustments to maximize your return on investment.
Retargeting is a great tool to have in your advertising toolkit, offering a way to reconnect with those who are on the verge of making a purchase. By implementing a retargeting strategy, you will boost conversions and create lasting customer relationships.
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