There may be no worse statistic for entrepreneurs than this: 96% of website visitors are not willing to purchase. This means you’ll probably only be able to convince 4% of visitors to buy what they see the first time. That’s a significant number of people you’re missing out on. Luckily, there is one thing you can do to lure lost visitors back to your website: execute retargeting efforts.
What is Retargeting? What can it help businesses achieve?
Retargeting is also referred to as remarketing. It is a kind of digital advertising that keeps you constantly in the eyes of visitors. It retargets those visitors who have visited your website without any action. It is a technology that allows businesses to reach those 96% of users that don’t convert instantly. Once visitors visit your websites, retargeting ads makes your website visible. It showcases relevant visual or text ads on the sites your visitors visit. Retargeting campaigns can be done with Google Ads, Facebook retargeting, LinkedIn Ads and other platforms. These ads are a constant reminder of your website to potential customers.
It is cost-effective and requires little effort. It acts as an effective means to highlight your best and newly launched products. Due to higher visibility, your brand always stays on top of customers’ minds. Most importantly, it engages those customers who are more likely to purchase. Consequently, it builds long-lasting connection with customers as they have recognized your brand.
How does Retargeting work?
It works by using website cookies—the data stored by the web browser that remembers who visited your website. Digital marketers can use this cookie data to generate ads and retarget the customers who have shown interest in their brand.
Case study: Mazda
This international carmaker was looking to fill their vehicles with more people. Merchenta and Mazda teamed up. This is a software firm that specialises in it. They assisted Mazda in attracting more website traffic to their local retailers. An increase in car sales was accomplished by using pay-per-click (PPC) advertisements. Mazda merged geography and vehicle inventories. They leveraged IntelliAds from the Merchenta retargeting network to bring more visitors into regional showrooms. Depending on the car models they were researching online, using a combination of offline and online insight.
Interestingly, the average car sale value linked to ad impressions was 98% greater than the offline average. Merchenta exclusively promoted Mazda models that were available at a particular dealership. They compared inventories with dealerships in areas where the people were being targeted. As a result, the audience groups could easily see only the car models offered in their location. This was useful in identifying those who were more likely to visit a particular Mazda showroom in a particular location.
Case study: Watchfinder
Watchfinder increased their retargeting advertisements with customer granularity from Google Analytics, just like Mazda did with geography. They noticed that just about 1% of their visitors bought a product on their first visit. It was an excellent opportunity to retarget the customers who have already shown interest. They used Google Analytics data to construct 20 different audience groups based on geography, language, sales funnel depth, and others.
Watchfinder was able to develop highly targeted advertisements based on these lists. They emphasised visiting the company’s then-new boutique location in London for individuals who were geographically local. In addition to generating repeat visits to their website. They reached stats you’ll be envious of by using Google Ads: in just six months. They got an ROI of 1,300%, and their average sales grew by 13%.
- You can leverage Google Ads dynamic remarketing to reach specific demographic segments. Develop location-specific advertisements, much like Mazda did.
- Even if you aren’t an automotive brand and conduct your business online, you may apply the same strategy. This can be done by piloting the concept in the busiest cities.
- You can find out which locations should get their customized remarketing advertisements first. Through looking at the dimensions tab in your Google Ads account.
- With the statistics in your Google Analytics profile, you can dismember your audiences in various ways.
You may reach them as separate groups in Google Ads. You can connect them with your retargeting advertisements once you’ve segregated enough consumers with your GA information.