Retargeting is a digital marketing strategy of reaching out to past website or app visitors by displaying targeted ads and sending emails, encouraging them to visit again to purchase a product or service.
Detailed explanation
When internet users visit a website or app, they may or may not convert. Retargeting is helpful for both scenarios – it entices those who haven't purchased anything to reconsider and encourages existing customers to buy again. It's an excellent advertising method to recapture leads who left your website without completing the conversion funnel.
For example, John is a potential customer on an ecommerce site, browsing the latest collection of baseball caps for the upcoming season. However, he isn't convinced and abandons his shopping cart. Soon after, the ecommerce company's marketing team retargets to show John baseball cap ads. These constant ads across multiple platforms piques John’s interest, improving conversion opportunity.
For effective retargeting, marketers must record the number of visitors on their website and app by enabling cookies, which are files automatically saved on devices to track user activity and behavior patterns. Cookies store unique identifiers that let companies determine whether they achieved marketing objectives, such as filling out a form or completing a payment gateway.
Here are three tools to help with retargeting.
– Criteo: The platform analyzes ecommerce data from existing consumer data to determine which channels have historically been effective in encouraging conversions. – AdRoll: The company leverages 10+ years of customer data to create compelling, relevant and behavior-focused social media ads. – SharpSpring Ads: The brand helps create ads for newsfeeds, websites and social media platforms. It also tracks campaign performance using metrics, such as click-through rate (CTR), revenue and conversion rates.