When we say we don’t believe in love at first sight, we are not bitter, we simply believe that second and third impressions matter just as much as the first one! When first landing on your website, your customers may be highly interested, but they are just not ready to commit yet – but 70% of them will convert if you simply walk by them again with your retargeting ads.
Retargeting has proven year over year to be a powerful way of building a good relationship with your customers as well as generate revenue growth – let’s look at 4 reasons you should give them another chance to get to know you!
1. Create more awareness around your brand.
Creating awareness around a brand is one of the primary goals of any business or marketer. Not only do you want your targeted audience to know about you, you also want them to remember that they know you. In the U.S., 3 out of 5 people will notice retargeting ads. Plus, retargeting has shown to increase branded search behavior by 1046%.
2. Build better engagement with your online users
Creating awareness is not the only way businesses can leverage retargeting. Given that 85% of people don’t mind being reminded of products they’ve looked at through retargeting, it also helps create a positive relationship with customers. As a result, people are 10 times more likely to click on retargeting ads rather than regular display ads.
3. Boost your revenues
Truth be told, customers are not always ready to purchase the first time they visit a website. Moreover, one of the banes of e-commerce is shopping cart abandonment, where people fill their carts with items but fail to check out. However, a study has shown that 26% of cart abandoners can be recaptured through retargeting and led to complete their purchase, as opposed to only 8% without.
4. Have a cost-effective solution
The idea that online advertising is only effective to big budgets is a misconception. Technologies like retargeting are made to be adapted to all budgets – you can literally launch a campaign for 3$ a day with mypixel, it all depends on the scale and scope of your campaign.
So, given how cheap it is to create and launch a retargeting campaign, it’s not hard to see the great return on investment businesses can get from it.
First, you only reach people who have shown interest in your brand, so you already have a good chance of connecting with them. Second, you remind them of specific products or services they liked, again increasing your chances for conversion. And finally, you can bring people who were very close to purchasing back to your website to complete their order.
Retargeting is the tool for businesses looking for a cost-effective and time-saving way to uplift their brand awareness and boost their revenues. Even if the numbers are there to prove the effectiveness, some cautions need to be taken – learn more about the Top 5 Don’ts of retargeting.