Wondering what are the benefits of retargeting?
You’ve arrived at the right place.
As a marketer, persistence is a crucial trait. Not everyone who visits your shop or website is going to be ready to make a purchase straight away. In fact, research shows that people need at least 1.7 touchpoints before they make a purchase.
Image via Google
Before a prospective lead turns into a customer, you may need to re-engage them multiple times.
That’s where retargeting and its benefits come into the picture. It is the process of showing ads to site visitors who left your site without making a purchase.
Regardless of the type of business you run, retargeting has numerous benefits and can be a handy tool in your marketing arsenal to boost conversions. If you are still not running retargeting campaigns, here are some reasons you should get started right away:
Why Should You Do Retargeting?
Here are five very compelling benefits of retargeting to convince you to leverage it.
Get More Brand Recognition
One of the biggest benefits of retargeting is brand recognition. We live in a world where people are constantly bombarded with new information, especially virtually. As a brand, you’re competing directly with other brands’ advertisements and your target audience’s friends and family to get their attention.
In such clutter, it’s easy for them to forget about your products or services even if they liked them.
Retargeting provides you with the opportunity to gently remind them to check out your products again and builds brand awareness. When they see an advertisement from your brand, preferably of a product they checked out earlier, they are more likely to click on it.
Image via Wishpond
One of the biggest benefits here is that you can get visibility across different channels as well. You can run retargeting campaigns for mobile devices, web, Facebook, Twitter, Shopify, or other channels.
Win Over Your Audience
Some people may have seen your product and may have loved it. However, the only thing that may be stopping them from hitting the “Buy” button is a lack of trust in your brand. They may have never heard of it before or may not be sure if the products are worth it.
In such a scenario, showing retargeted advertisements that contain testimonials can work wonders.
It gives them social proof that other people trust your brand and are even happy using your products. Ultimately, these retargeted advertisements can help them move further in the sales funnel. Such benefits make it a go-to marketing strategy for many marketers.
Forget About Abandoned Carts
When you’re shopping online, there can be dozens of distractions around. Maybe you got a phone call or you needed to attend to your kid — whatever the case, there is a chance you might have left an abandoned shopping cart before completing the purchase.
As a marketer, it’s not necessarily your fault that you lost a potential customer. It’s just bad timing. However, not all is lost. You can still get back in the game and score a sale and that’s one of the biggest benefits of retargeting.
With retargeting, you can gently nudge such leads without being too promotional. With cleverly written ad copy, you can remind them to complete their purchase. You can even offer special discounts in your retargeted ads to encourage users to finish the purchase.
Note how BOOM by Cindy Joseph is taking advantage of the benefits of retargeting.
Image via Shopify
Get an Opportunity to Cross-sell
Let’s say a user makes a purchase — that’s a win for you. However, your marketing efforts shouldn’t stop at that point. You’re only beginning to build a relationship with them. After they’ve made a purchase, you should make sure you stay connected with them.
One of the best benefits of retargeting is that it lets you do so with ease. All you have to do is show them a retargeted advertisement related to something they purchased. For instance, if they purchased an eyeliner, you may want to cross-sell other eye makeup products like a mascara or eye shadow.
Such complementary products may draw their interest and get them to make a purchase again. If you want to boost your retention rate, this strategy can be a real winner! All in all, it can maximize brand loyalty and improve your customer lifetime value.
Keep Your Customers Engaged
This retargeting benefit is an extension of the one we discussed above. After they have made a purchase, you should make sure that your customers don’t forget about your brand.
By showing them the latest discounts or product launches, you can keep them engaged. It’s like a constant reminder of what value you can provide them. By reiterating that message repeatedly, you can get them to make repeat purchases. And this is one the major benefits of retargeting.
Make More Moolah
From the discussion above, it is pretty evident that retargeting allows you to get more leads in your marketing funnel. In addition to this, its major benefits include helping you win audience trust, keep them engaged, and even cross-sell to them.
As a result, it works like a domino effect — you get more conversions, you sell more products, and overall make more money. And who doesn’t like more money?
If you are still not running a retargeting campaign to grow your business, it’s time to get started now!
Do you have any questions about retargeting benefits mentioned above? Ask them in the comments.