Tag, You’re It! Why Your Business Should be Remarketing
Remember the last time you were shopping for something online and then you suddenly “couldn’t escape the ads”? They somehow seemed to follow you around all the websites, apps and social media platforms you used, right? This, my friends, is called remarketing.
What is Remarketing?
Remarketing, sometimes referred to as retargeting, is the practice of showing an ad to a customer that’s already demonstrated interest in a particular product.
And guess what!? They work! The average purchase is generally influenced by at least 7 advertising touchpoints. That means, relying on single-touch advertising methods just doesn’t cut it. With the average e-commerce conversion rate being 2-3%, that means that 97% of website visitors leave a website without making a purchase.
This is where remarketing comes in. It focuses on getting customers to revisit a website, with the aim that a purchase will be made on the 2nd, 3rd or 4th visit.
What Are the Benefits of Remarketing?
Now that you’ve got a basic understanding of what remarketing is and how it works, let’s dive into some benefits for your business.
Cost Effectiveness – <10% of the Cost of Google Ads Clicks!
First touch advertising methods like Google Ads or Facebook Ads are relatively expensive because they work. Therefore, many people are competing for a limited amount of ad space that’s available.
Fundamentally speaking, if you’re willing to pay several dollars for first click awareness, and 97% of consumers leave a website without buying something, then it must also make sense to pay a few pennies to get that customer to come back again.
Comparatively speaking, a click from remarketing averages about 5% of the cost of a Google Ads click. If you spent $5 on a Google Ads click, you’ll be spending about $0.25 for a remarketing click.
Higher ROI ~10X More Effective than Regular Display Ads!
Due to reduced cost per click price for remarketing ads and a relatively high percentage of visitors that will come back and complete their purchase later, remarketing generally offers a very high ROI.
According to a study by DataXu, remarketing has shown to increase conversion rates by a staggering 150%.
Increased Brand Awareness
Since remarketing ads are visual, allowing for the combination of graphics, images and even video/animation, they provide an avenue for additional brand awareness.
Consumers naturally associate brands that are advertising as brands that are successful. So, whether your ad is further influencing the consumer to make a purchase OR making them feel confident about a recent purchase, remarketing will help build brand awareness.
Remarketing works especially well for more complex sales funnels with more moving parts that take place over longer periods of time. Remarketing provides the ability to reinforce your messaging, provide new pieces of information, and eventually show ads that are focused on getting the consumer to take action.
Most other small and medium-sized businesses ARE NOT running remarketing ads. Why!? Because they’re more complex to set up. Generally, they require a designer, programmer and marketer to work together, which is something that most people don’t have at their disposal.
Your brand is special, you know it, and you want customers to know it too! Remarketing can SHOW your potential new customers what they need to know to choose your business, instead of a competitor.
How Can ISOFT Help Your
First things first, you’ll need to set up the right analytics and pixels needed to build your remarketing audience. If you’re already one of our clients, then we likely already have this completed. Once this is all set up, we’re ready to get started!
Next, we’ll help you establish your conversion goals and establish KPIs. This way, we can track what’s working, what’s not, and how to constantly improve performance.
Once we know what we’re looking to accomplish, we’ll have our creative team work with you on your messaging. We’ll find clear and concise ways to help you communicate your value proposition. This means understanding your business so that we know how things work. Then, we’ll align this with the habits of consumers to create clear paths to conversions!
Time to build your ads, which generally consists of HTML5 ads for Google’s Display Network, and animations or video for social media platforms.
Lastly, we’ll choose a budget and launch your campaign!
It’s normal for things to have a slower start, so don’t panic. We even have the option to put the power of Google’s Artificial Intelligence (AI) to work for us and target an “expanded audience”. This represents a very similar group of individuals to those that visited your site already but are new customers.
As the days go by, our team will be tracking everything because we’re analytics geeks at heart. We’ll report back to you on what’s working and keep the campaign running smoothly!