When creating ad campaigns, it is vital that your money be used in the most efficient way possible. One way to maximize your budget is to market solely to the people who have already shown an interest in your product or service. An effective tool to reach that audience is retargeting (also known as remarketing).
Let’s expand on the meaning of retargeting and its role in digital marketing.
What is Retargeting?
Retargeting is an online marketing method to keep your business and brand in front of bounced traffic. Bounced traffic refers to users that visited your website but left your website without taking any action.
How do you “grab” bounced traffic? By using tracking codes like Google Analytics or Facebook Pixel. These codes collect the metadata of users on your website.
When these users browse Facebook or visit a website with Doubleclick enabled, they will see ads for your product or service.
You can get very sophisticated with retargeting. For instance, if someone visits a specific product category on your e-commerce website, they will get specific ads for that product category. If someone has items loaded in their cart, but has not checked out, you can remind them to do so in a retargeted ad.
Advantages of Retargeting in Digital Marketing
Retargeting play can play a significant role in your digital marketing strategy. To give you a better idea, here we have shared some points explaining the role of retargeting in digital marketing:
If you want to generate massive results by spending a little amount, remarketing is for you. Under the retargeting campaign, you will be targeting only who people who have shown an interest in your product or service earlier. So, you will be targeting a smaller number of users, but with high buying intent. This way, the chances of getting more conversion will be high, and your spending amount will be less.
2. Stay engaged with your targeted audience
Remarketing also helps you stay engaged with your targeted audience. When some visitors show an interest in your product or service and leave your website without taking any action, adding them in your remarketing campaign reminds them about your product or service. Through remarketing, you can follow a user from site to site to re-engage your customers and take them back to your website.
3. Increase conversions
Are you getting declined conversion on your website? Do you know that around 56% of companies use remarketing to gain customers? Don’t worry; retargeting can help you. Instead of spending money on creating awareness about your product/service to entirely new users, it would be more beneficial when you will show your ads to the audience, which has already shown interest in your product/service.
4. People will remember your brand
No matter how huge website traffic you get, if your visitors can’t remember your brand, it’s not worth it. With an excellent retargeting campaign, you would be able to make your target audience remember about your business. The user who sees your retargeting ads on platforms like Facebook or Google is more likely to remember your brand.
To sum things up, remarketing is a useful tool that can boost your conversion rate, without having to spend a large amount of money. Retargeting can only be achieved by having the proper tracking codes from Google Analytics and Facebook Pixel installed. Make sure to install those early on in your website setup, because the longer it runs the more knowledge it gleans from your users.