Are you the victim of retargeting?
I know that sounds like the premise of a bad daytime commercial. But a retargeting campaign — also known as remarketing — could be running on your computer right now.
This isn’t necessarily a bad thing. In fact, it can be a good thing, especially if you own a business and are interested in online marketing.
We’re here to clear up some of the mysteries around retargeting and explain how it can help your company.
What is Retargeting?
Retargeting is a term for reaching prospective customers with marketing based on their previous online activity.
Most retargeting campaigns are site-based. This means that users who have visited your website will see advertisements for your business when they visit other websites. The goal is to encourage people to return to your site and complete your call-to-action. Your CTA might be buying products, signing up for a newsletter, or requesting a consultation.
How Does Retargeting Work?
When a user visits your website, retargeting systems like Google AdWords place a cookie — a small file that stores non-sensitive information — in their internet browser.
When they go to another site, the cookie tells the retargeting system whether that site has ad space available. If it does, the system bids on that space in real time, and a winning bid secures the ad space by the time the page loads.
Even though the practice is still new, retargeting has a track record of increasing conversions for businesses. Some key indicators include:
- 26% of customers exposed to retargeting will return to a website — compared to just 8% who return without it
- Visitors who are retargeted with display ads are 70% more likely to convert on your website
- the average click-through rate for retargeted ads is .7%, compared to an average click-through rate of .07% for display ads
Retargeting is common for major e-commerce websites like Amazon and Zappos, but B2B companies can take advantage of this marketing tactic as well.
4 Reasons Why Retargeting Is Awesome for B2B Companies
1) Target Different Products, Services & Customers
Like bus benches and billboards, standard online display advertisements don’t allow you to choose who sees your ads. In contrast, retargeting only reaches those who have visited your website — or even specific pages on your website. Improving the precision of your campaign improves the likelihood of creating new customers.
2) Brand Building (on a Budget)
Retargeting is a useful way to keep your business at the forefront of your prospects’ awareness. Leads who see your advertisements after visiting your site ascribe credibility to your brand. Further, multiple impressions make them more likely to remember you when it’s time to purchase.
Remarketing also helps customers pick up where they left off on your site if they didn’t convert during their last visit. After all, people leave websites for lots of reasons. They get distracted, something time-sensitive or work-related comes up, etc. Reminding a prospective client why they went to your website in the first place paves the way for renewed interest later.
3) Increased Touches = More Conversions
There’s a school of thought in marketing stating that penetrating a buyer’s consciousness requires more than one impression — or two, or three, or four. In fact, according to marketing expert Dr. Jeffrey Lant, would-be customers need to hear about your business at least seven times in an 18-month period to make an actionable decision.
While the exact number and timeframe is up for debate, the principle makes sense — especially in the ad-saturated world of online marketing. Retargeting, especially in conjunction with other marketing tactics, can help you reach this ‘impression quota’ and drive more conversions.
4) Specifically Crafted Banners
So far we’ve discussed the impact that remarketing will have on your leads — rightfully so, since that’s the point of the campaign. What we haven’t mentioned, however, is the additional opportunities available to your company as the ad creator.
Like other pay-per-click campaigns available through Google AdWords, retargeting campaigns are highly customizable. You can choose how long the ads will run, who gets to see them based on their online activity, and where the ad links to.
Retargeting ads can also include time-sensitive promotional information like holiday sales or loyalty programs. Further, the data provided by these ads will allow you (or your marketing team) to improve and expand the campaign based on measurable results.
A marketing strategy that includes retargeting is a great idea for B2B companies that are looking to increase their online profile. These ads help your business reach out to leads that would have otherwise gotten away.
After all, it’s a lot easier for prospective customers to remember your name when it’s right there in front of them.