Remarketing: The Secret Behind Lower Acquisition Costs
Let’s start with the basics…What exactly is remarketing?
Remarketing is about targeting audiences (people) who have already shown a positive interest in your business.
Often people may add a product to their basket or perhaps spend a long time browsing your site before leaving without converting into a customer. There are many reasons for this, here are a few: a complex checkout process, pricing is not competitive, additional charges, or lack of clarity, security concerns, and lack of trust.
The user may have been distracted at the time of purchasing or perhaps wanted to wait until a time more suitable for them. Rather than losing the customer at this point, you should be thinking about how to retarget these people and get them back on the right track to converting into a customer.
You can see many companies doing this effectively across all types of devices. Here’s a good example, let’s say you are looking for new outdoor furniture. After viewing a selection of outdoor products on Amazon, you’ve not yet decided which one to buy, so, you close the website. Later, you go onto Facebook. After catching up with all the “hilarious” cat videos you’ve missed, you start noticing ads for outdoor furniture start popping up. This may get you thinking again, “Oh yeah, I need to go buy that bench”. So, you click through, finish your purchase and the company makes money…and of course, you get your bench! Obviously, this Ad wasn’t just a coincidence. You will have been added to a Custom Audience as someone who has shown interest in outdoor furniture. This is just one of many ways remarketing can be effective.
We’ll have a look at some other ways you can remarket which may be applicable to your business. But first, we shall go through the benefits remarketing has and why it is so valuable for companies to implement this into their overall marketing plan.
What are the Benefits of Remarketing?
Now every business has its own objective that is unique to their needs. You may be wanting to push sales, increase form request completion, or grow the awareness of your brand. As we’ve already highlighted, remarketing can be a critical part of your overall advertising. If you’re still unsure if you should be doing it, then have a read of the following list:
- Effectively Timed Targeting: As we said earlier, you are able to show ads to people who’ve previously interacted with your business. The key is doing it at the right time. This is when they’re searching elsewhere, perhaps further down the sales funnel, where they’re more likely to make a purchase. Strike whilst the irons hot!
- Specific Advertising: You can create remarketing custom audiences to advertise for specific parameters. For example, you may create an audience targeted for people who have visited a specific page on your website. If someone has visited your contact us page and started filling out a form but not finished it, maybe you should give them a nudge and tell them to get in touch.
- Multi-Device Reach: You can are able to reach people across different devices as they browse between tablets, desktops, and mobiles on websites and apps. Making it easier to retain the customer without them being lost forever.
- Creative Advertising: Using specific advertising criteria, you are able to develop adverts that can address specific people. If you only want to advertise people who added to their basket and never made the purchase, why not say: “Hey, we noticed you didn’t finish your purchase, why not have 10% off to sweeten the deal.” Getting creative can be the difference between losing a customer and creating a lifelong relationship.
- Cheap: The overall cost is usually far cheaper than opting for fresh advertising, this is because the CPC (Cost-Per-Click) and CPA (Cost-Per-Acquisition) is often lower than new advertising campaigns.
This is a great way to learn a huge amount about the demographics of your customer base and your potential prospects. It gives marketers a great opportunity to test which ads and content resonate best with their selected audience. You can dive as deep as you want with the analytics, looking at typical device paths, locations, age, session time/journey, and numerous other data points.
How To Do Remarketing?
- Social Media Remarketing: Facebook, Instagram, LinkedIn, Twitter, and the rest, are all effective tools to push your remarketing ads to your chosen audience. People spend an average of two to four hours on social media every day. So there is plenty of time to get their attention. The drawback of this however is the intent. People are often on social media to relax and not make a purchase, so your ad may not hit them at the right time in the purchasing journey.
- Standard Remarketing: This is where your ads will be shown to previous visitors to your website as they look around other sites and apps on the Google Display Network.
- Dynamic Remarketing: Takes things that one step further. This allows you to create ads that include the exact products or services people viewed on your website or app to help push them back to complete what they had already started.
- Video Remarketing: Show ads to people who have interacted with your services, website, or videos as they use YouTube and browse Display Network videos, websites, and apps.
- Customer List Remarketing: Customer Match allows you to upload lists of contact information your customers have given you. When those people are signed into Google, you can show them ads across different Google products.
An Example of a Remarketing Ad
Below is an example of a remarketing Ad we ran which was targeting people who had made specific actions, such as clicking on one of our Ads or those who clicked through on one of our emails. This gives you a good idea of how to use remarketing for your business.
Hopefully, this has given you a good insight into why remarketing is used in so many different ways across every industry. If this is something you feel could be beneficial to you and your business, then give it and try! If you would like to speak with us about how you can optimise your remarketing campaigns, then we would be more than happy to hear from you.