Never Underestimate The Power Of Remarketing
Have you ever visited a website, and then the next day, while browsing online, you saw an ad for the very same website? According to Adroit Digital, nearly 3/5 of online buyers in the United States indicated that they noticed the ads that appear for products they had researched on other sites.
This phenomenon is popularly known as ‘Remarketing’. As far as the textbook definition is concerned, experts have called it the tactic of serving targeted ads to people who have already visited or acted on your website. Remarketing can be an excellent way to boost the relevance and personalization of the ads displayed. Remarketing can be used to promote a specific product or offer to achieve a certain conversion goal such as lead generation. In eCommerce, for example, remarketing ads can be used to recover abandoned carts, by displaying the product the user added to the cart but left the site without purchasing.
A statistic cited by CMO found that many customers reported they enjoy re targeted ads. Now, remarketing vs retargeting is a whole different topic which we will touch upon in the following paragraphs. The statistic showed that customers appreciate these because the ads offer reminders of products and brands that the consumer have shown interested in before. These ads spark their interest more than standard ads, providing a better user experience. Social media is an even younger remarketing channel than email. Once people have connected with you on a social media platform, you can market to them again and again and again and at a fraction of the cost.
Many times, ‘remarketing’ and ‘retargeting’ are used interchangeably, and the common man might never bother to know the difference. But as a marketer or someone with a keen interest in marketing, it is important to know they have some important differences.
Whenever one speaks of retargeting vs. remarketing, the main difference arises in the strategy. Remarketing works by collecting the information of users and creating lists, which are used later to send sales emails or other forms of communication which have become popular in the recent times whereas retargeting is mostly about serving advertisements to potential customers based on cookies. For those of you who don’t know what cookies are, they are messages that web servers pass to your web browser when you visit an internet site. To make the difference even clearer we can understand remarketing as the tool used to describe shopping cart abandonment, email campaigns, up sells/cross sell emails and life cycle marketing emails.
This difference, however, becomes complicated as you dive inside the topic because Google seems to have a different definition for Remarketing.
We dug deeper into the topic and found something interesting. Google defines remarketing very differently from how us marketers do. From the definition above it sounds like retargeting is concerned with advertisements whereas remarketing is concerned with sending out emails to persuade customers to buy more or if they haven’t made a purchase, then at least buy and since they have already initiated the journey to make a purchase, conversions are easier when one does remarketing, right? Google thinks differently though. Have a look at the picture below, it will give you an idea of what is being referred to here.
Google has used the word ‘ads’ multiple times while defining remarketing but let’s not deep dive into the topic as it’ll lead to confusion. For the sake of simplicity and to adhere to Google let’s use remarketing and retargeting interchangeably. However, everything said and done, retargeting and remarketing are both effective methods separately also, however, a combination of both may be the best strategy to boost your digital marketing activities and improve your bottom line.
This conversation brings us to a very important question, which is, where do we even remarket? To answer that, let’s have a look at some of the most common remarketing platforms.
Some of the most popular platforms such as Google, Facebook, LinkedIn, etc. allow you to set up remarketing campaigns easily. Let’s see how remarketing works on some of the most popular platforms: -
1. Remarketing with Google. It is as simple as it can get. Isn’t it? You have a potential customer on your website and does not perform the action you expected him to then Google comes to your rescue and reminds them of your website with the help of others.
2. Remarketing with Facebook. Facebook remarketing refers to running ads targeted toward your past visitors to your site again. Facebook has snippet called the Facebook pixel, which honestly is one of the most efficient way of remarketing and chances are your digital marketing agency has implemented it in your website and if they haven’t you have some serious questions to ask them. Digital marketers and agencies have been using it extensively as it lets you identify visitors who bounced and run a targeted ad based on their behaviour.
3. LinkedIn Remarketing. LinkedIn remarkets in the following ways –
· Website retargeting lets you market to LinkedIn members who have visited your website. You can easily define target audiences and deliver relevant ad content based on the pages people visited on your site. Matched Audiences is an ideal advanced targeting strategy for always-on campaigns.
· Account Targeting helps reach decision-makers within your target accounts, run account-based marketing campaigns and then upload a list of target companies to match against the millions of company pages on the platform.
· Contact Targeting allows marketers to upload and integrate your contact lists and build a customized audience by uploading email address lists or connecting contact management platform. Remarketing can be done on various platforms. However, the above mentioned are some of the most common platforms to remarket.
Now that we’ve established where we need to do it, another question that comes up is what to keep in mind while doing it? Let’s look at some of the best practices of remarketing so that you do it right the next time or if you’re starting out then you start on the right foot.
We classify remarketing best practices into 3 sections.
1. Google Analytics Best Practices
· Track Your Campaigns in Analytics to Make Informed Decisions. We recommend you use UTM parameters to track your ad campaigns in Google Analytics. UTM parameters aka UTM codes are little snippets of text added to the end of your URL for better tracking in Google Analytics. By making campaign URLs with UTM codes, you can understand which campaigns are performing well, which ads and keywords) are triggering the most clicks so you can estimate the CPC of ads
· Import Your Analytics Data into AdWords. Once Google Analytics has been set up, your analytics account will already have an abundance of customers data. If you want to use your Analytics data to better track the interaction of your customers you acquired through remarketing, you must link your Analytics account with Google AdWords.
· Target High-Value Customers. Remarketing allows you to target your high-value customers based on various customer demographics such as their age, gender, and interests to boost your ROAS (return on advertising spend). Yes! Google lets you do that as well!
2. Onsite optimization
· Onsite Retargeting. It takes about 3-4 visits or sometimes even more from your prospective customers to your website to make a purchase. With onsite retargeting, you target your potential customers even before they leave by prompting a customized exit campaign. The popup gets triggered by detecting the user behaviour at the time your customers are about to leave. This practice helps you can convert an additional 2 to 4% of your visitors into leads and then possibly customers.
3. Optimizing AdWords Configuration
· Set Bidding Strategies. While you can retarget any visitor who has visited your site, we highly recommend you bid high for those who have visited your key pages and bid low for other visitors. This is because people who have visited your key pages such as pricing, products or other landing pages are more likely to turn into customers who pay.
· Choose the Optimal Frequency Cap. Frequency capping is means of limiting the number of times your ads appear to the same person. Choosing a relevant frequency cap for your remarketing campaign ensures that you’re not wasting your advertising budget by targeting people who don’t want to buy. It also optimizes your ads be making sure they aren’t annoying your potential customers by targeting them too often.
· Using Optimized Images for Dynamic Remarketing Ads. Dynamic remarketing is a retargeting strategy for eCommerce merchants to retarget their potential customers on the Google Display Network. While creating a dynamic remarketing campaign, make sure that your ads can display product-specific images from your product range
· Filter Out People Who Do Not Spend Enough Time. An important metric you need to look at is the time spent on your site. If someone spends more time on your site, it indicates that they are more interested in your content and are more likely to become your customer.
· Stop Overpowering Your Recent Customers. Remarketing to existing customers is a good strategy to increase repeat purchase but here’s the flip side, it can also annoy your existing customer base, in turn, creating a bad impression of your company. While you can always remarket your existing customers after a certain period, we recommend you to not annoy your customers by inundating with remarketing ads just after their bought from you.
· Create Highly Engaged Campaigns with Audience Segmentation. Audience segmentation based on their interaction is a great strategy to show a highly customized ad to your potential customer. By using audience segmentation, one can address the concerns of their customers in their buyer journey and increase the click-through rate of your ads.
Here is our last word. Consider hiring a full-service digital marketing agency to help you incorporate this strategy into your next PPC campaign. We can help you increase and optimize your ROI on a holistic level. Let’s talk!