What is remarketing?
A hungry potential customer check out a new home cooked food delivery website. On surfing, through the delicious menu the customer, who is also a college student finds the prices a tad too expensive.
He decides to eat at a local restaurant and resumes back to surfing Facebook.
A new sponsored ad appears to the right side of his Facebook wall. Yes, this new ad, advertises the same home delivery food website, which this potential customer had browsed earlier. But this time, this ad promises a discount of 50% on the first order.
The potential customer is delighted by this ad. He clicks on this ad which directs him back to the website. He browses through the menu, puts a meal into his shopping cart and makes a purchase.
How did the potential customer, who earlier left the website without making a purchase, end up becoming a customer of the home delivery food website?
What made him change his mind?
REMARKETING is the right answer to the above-mentioned questions. Remarketing is the process of transforming a customer who abandons a purchase, into a sale.
In this case, remarketing was done by tracking the potential customerâ€™s online behaviour patterns, using cookies.
The home delivery food website then attracted the customerâ€™s attention once again by placing an ad immediately on the next website he surfed. This new ad not only advertised their product but also displayed the benefits available to new customers.
Such is the power of remarketing, to grab back the attention of a lost customer.
When and where all can remarketing be used?
Remarketing need not be used only to retarget customers who did not make a purchase, It can be also used for customers who have added products to their shopping cart and left it before making a purchase.Â It can be used for customers who have uninstalled an application of the company or unsubscribed to its newsletters or services.
Remarketing can be used in the form of emails, sent to them to find out the reasons for their respective actions.
Brand loyalists can be notified of the new products and services through sponsored ads on various social networking sites.
This will keep them up to date with the new products and services introduced by the company in the market.
What do business owners think of remarketing?
She also says “It is great for small business owners because it has a lower cost perÂ acquisition, so with the impression conversion rates, you are able to move people through your sales cycle faster and for a much lower cost.”
Why you should plan your remarketing strategy
Remarketing helps to reach out to customers who have already shown their interest in a companyâ€™s website, so it is cost effective means to increase sales conversions.
It is also synonymously known as retargeting as it involves targeted advertising or customized advertisements to consumers based on their internet actions.
Remarketing is a wide spectrum in the field of e-commerce, which if used immediately and effectively can save the time, cost and efforts of using customer retention programmes.
What is the next step to implement a remarketing campaign?
a. Tag every page on your site
Remarketing is nothing but using purchase and web visitor data to promote your related or complementary products. If visitors have spent time looking at running shoes, you can align your remarketing strategies to sell socks, shoe laces, etc. As a result, make sure to tag every product page and category page.
b. Plan your remarketing campaigns to target specific set of customers
You can plan to target customers who have already made a purchase, with new products. Or you may wish to target new visits. As a result, you can plan and execute multiple remarketing campaigns simultaneously.
c. Analyze, strategize and optimize
This requires a thorough look at your website traffic data. Check for indications about cart abandonment, purchase hiccups, page dropouts etc. And create specific campaigns to target each section of your site visitors.
The remarketing routes:
a. Google Remarketing:
Google Adword remarketing is used by marketers Â to show ads to users who have already visited their site while browsing the web. Google remarketing script tags allow to target narrow and focussed group and hence increase more relevancy of the whole remarketing campaign.
b. Facebook Remarketing:
These work similar to google Adwords marketing, but here your ads are shown only on facebook and not across websites. Remarketing Is done to custom audiences, who already have visited your website, who are tagged with a code and then while browsing the facebook feed they are shown your ad pop-ups to remind what they are missing. Researchers say that facebook retargeting ads get 3X the engagement then regular facebook ads.
c. Email Remarketing:
Targeting the customers via direct mails and offers right in their inbox is a great technique to conversions. Cart abandonment is a common phenomenon with online shops and retargeting that set of customers with emails is the best way possible to convert them into your loyal customers.
Compare and invest
I am sure that you have and do run other marketing campaigns (social media, PPC etc), and you should continue to do so, even when you choose to run a remarketing campaign. Analyze the ROI of each marketing campaign (including your remarketing campaign) at the end of the month. Now, compare the customer acquisition cost of each campaign. This will give you a clear indication on where you should invest and what campaigns you should stop running.
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