How To Use Retargeting To Sell More Products and Get More Leads
Targeting customers and funneling sales online can be tricky to master and manage. With all the options, concepts, and techniques offered in today’s online marketing world, it can be confusing to sift through the madness and actually convert your website visitors into paying customers.
The good and bad thing about online marketing is that it’s a constantly evolving game. A recent commenter on one of our latest blogs said it best “it seems like the rules are changing during the game.” We couldn’t have said it better! That is exactly what’s taking place and the big surge towards an advertising tactic called “retargeting” is a great example of just that.
What is Exactly is Retargeting?
In a nutshell, retargeting is term to describe a marketing strategy utilizing Google Adwords remarketing, the process of specifically targeting your online ads to potential constomers who have already visited your website or a page within your site.
The process goes like this, someone lands on your site, be it by typing the url into the address bar, finding your site while doing a search on Google, clicking on an ad, clicking on a link in an email, or the multitude of other ways visitors can find their way to your site, it really doesn’t matter how they get there. Once they land on your site, a cookie is dropped on their browser. After that, for a length of time you specify, usually 30 – 90 days, whenever they visit a site that contains Google sponsored ads i.e. blogs, Gmail, Google partner sites, etc. they will see an ad you predetermine, and that is where it can get really interesting.
Think of retargeting as a cheap way to brand your company like the big boys. Where companies like Coca Cola, Doritoes, Target, and insert large corporation here, are spending millions of dollars buying TV spots and product placements so that they can keep their brand on the minds of the consumer, companies that utilize retargeting are only spending money if and when someone actually clicks the ad. Let me repeat that so it sticks, they only pay when someone actually clicks on one of their ads and returns to their site. Sounds incredible doesn’t it? And it is. Some companies have seen up to a 53% increase in conversion rate with only a small portion of the impressions needed of a regular Adwords campaign.
How To Effectively Use Retargeting To Generate More Leads
Retargeting is a form of behavioral marketing. A visitor comes to your website and performs certain behaviors based on where they are in the sales funnel, they might read several blog posts if they are searching for information, if they know what product they want but are shopping around for the best brand and price, they might sign up to receive a free demo or talk to customer service, if they’re ready to buy they make the purchase.
As technology gets smarter and smarter we are able to recognize these behaviors much easier and capitalize on them much faster, and retargeting is a way to do that.
So by creating specific retargeting campaigns for each of these behaviors, marketers are able to show a highly targeted ad to a prospect who has already performed a predetermined behavior.
Here’s an image from an article by SEOmoz that gives some examples of what ads can be used for each different step of a company’s sales funnel.
Let’s walk through a couple of examples so you understand.
Let’s say you’re selling a coffee maker, and you’ve noticed that several people have started the checkout process but haven’t made it all the way through. The coffee maker is nice and better than most products in its category but slightly more expensive. The product is selling well, so you don’t want to lower the price to all customers, so you decide that maybe if you offer a discount to the customers who abandoned the shopping cart, you may increase your conversion rate.
This would be a perfect time to use remarketing. All you would do is setup a remarketing campaign in Google Adwords, set the cookie to 30-90 days, create an attractive banner ad offering a %25 discount on your coffee maker, then watch and analyze the campaign and optimize based on the results. My guess is the conversion rate skyrockets, and now you’ve recovered some of that lost revenue plus added a new customer which could result in more sales down the road.
Let’s look at one more.
So they’ve purchased your coffee maker and now become a customer. Why not drop a retargeting cookie on the thank you page while you’re fresh on their mind and create a banner promoting your flavored coffee basket or his and her coffee mug set.
Are you starting to see the power? The possibilities are endless and experimenting can be a fun and inexpensive way to figure out what your customers are looking for so you can create better products and packages to give them.
Do you have any interesting ideas on how companies could use remarketing to generate more leads or sale more products? Be sure to leave your ideas in the comments section below.
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