October 10, 2015
Have money in your marketing budget for digital advertising? You should be putting a good portion of it towards retargeting.
Retargeting and advertising may look the same but are much different behind the scenes. Most brands decide the user personas and demographics they’d like to go after, create beautiful advertisements, and blindly launch ads to these groups of people. If executed properly, these will lead to new customers and hopefully more sales. Let’s do some math. The average eCommerce site strives to reach a conversion rate of 2-3%, during a strong period. So, let’s use these numbers as a base. Let’s say your company (B2B or B2C) has a conversion (sale or lead generated) of 2-3% and your new ads drive 100 people to your website during the first week. If your ads were properly targeted, your website is completely optimized, and your funnel is easy to use – you converted 3 people. What about the other 97? They’re gone, lost in the wind, and it’s much less than a coin flip that they’ll ever be back.
Just a tiny piece of code that your users will never know is there and poof, they enter your site, a cookie is dropped, they leave but are not gone for long. If you have your retargeting running correctly, those users will see your ads all over the internet – banner ads, Facebook news feed, Twitter feed, and even across devices.
Have you ever been looking at a pair of shoes online, decide not to purchase, log on to Facebook and see them right in your news feed? Planning a trip to Vegas? We used to spend hundreds of thousands of dollars on retargeting. “Your room at the Bellagio is still waiting for you!” Creepy, right? It worked like you wouldn’t believe.
According to a fairly recent study from Digital Information World, visitors that are retargeted are 70% more likely to convert. More importantly, these pixels are collecting data for you as they capture new visitors to your website. You’re no longer throwing your money away at the random demographics you’ve chosen to feature your advertising to, you’re hitting 100% brand recognition because they’ve interacted with your site before.
There’s a growth hacking technique that you can replicate for your company in the next week. Perfect Audience, an industry leader in retargeting, offers pixels that can be placed in emails. Create content partnerships with companies in your industry that have big email lists, sponsor or create content for the email, place the pixel in the email. Once they open the email, they’ve been tagged with your unique cookie, even if they had zero interaction with your brand’s presence on the email.
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