Why Your Business Needs Retargeting Ads
Can your business use retargeting ads? For most, the answer is: yes.
What is Retargeting?
How Does it Work?
A real-world analogy can be made. Suppose you have gone to a department store to purchase a pair of shorts. You find some that you love and try them on. They look great and fit perfectly. But you’re not so sure. They’re a bit on the pricey side. Maybe you’ll just think about it. You leave the store. Life is busy and you forget all about those shorts amidst making dinner, picking up the kids from soccer and helping them with homework. End of story.
Now imagine a store employee has been watching you agonize over your shorts dilemma. That employee locates you and sends you a coupon for 20 percent off those very shorts that you absolutely loved. And now with a discount, you can justify that purchase!
A Friendly Reminder
Well, that’s exactly what retargeting does. Have you ever browsed a site only to have that site or product appear alongside another web page you’re visiting? That is retargeting advertising.
Retargeting, or remarketing, comes back to remind those people who left your site about things they were looking at. And it can often offer them an additional incentive to fulfill their purchase. When you consider that only 2 percent of traffic to your site actually converts on the first visit, retargeting allows you to target that other 98 percent, reminding them of the exact things they were looking at on your site.
Retargeting works by placing a small bit of code behind the scenes on your site. Your visitors can’t see it and it doesn’t affect its performance. But for every visitor to your site, this code places a cookie that will enable your provider to place ads in front of them at a later time. The beauty of retargeting is that you are focusing on people who have already demonstrated an interest in your site and products but failed to process the checkout.
What are the Benefits?
Utilizing retargeting ads can be very effective:
- Visitors who have been retargeted are nearly 70 percent more likely to follow through on conversion.
- The click-through rate for display ads is .07%. Click-through on retargeting ads is ten times higher.
- We believe that retargeting ads are of great benefit and one of the most underutilized technologies around.
Part of a Comprehensive Strategy
Because retargeting doesn’t work to drive new traffic, it should be used as part of a comprehensive plan that includes SEO, social media, content marketing and more. Including retargeting in your advertising toolkit helps you optimize that conversion you are losing with the 98% who leave your site.
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