by Donovan Dillon Contributor
Posted on February 07, 2014 06:12 AM
Retargeting your advertising keeps your company in the mind of the consumer. It is a way to grab a customer who has bounced, a term used for someone who visits a website, yet does not purchase, and encourage them to return to make a purchase. Research indicates that only 2 percent of customers who visit a website the first time make a purchase, while retargeting allows the company to reach 98 percent of those who bounced.
How it Works
The statistics regarding the efficiency of retargeting are staggering. According to an article on CMO.com, nearly three out of five buyers in the United States say that they notice advertisements for products they look up on other sites, and 30 percent of consumers view targeted ads positively. One of the most surprising statistics, however, was that retargeting could boost ad response by 400 percent. In addition, 25 percent of those surveyed said that they enjoyed receiving targeted ads because they reminded them of items they were seeking previously. Also consider that the average click-through for display ads is 0.07 percent, the click-through for retargeted ads is 0.7 percent, and retargeted visitors are 70 percent more likely to convert. Clearly it’s easy to see that retargeting is a beneficial way to build sales.
Tips and Suggestions
Choose a retargeting provider, such as AdRoll or SteelHouse, that enables you to build an audience and helps set up audience segments. Use the Custom Audience feature on Facebook to easily create custom audiences based on user data you already have. Facebook allows you to create custom audiences such as:
- Active – Customers who are active users of your product or services who you think may appreciate advertisements about new products or services. The system also allows you to exclude them in order to save advertising money for new customers.
- Lapsed – Previous customers who have not visited or purchased for some time. Retargeting is one way to lure them back.
- Bouncers – For those who visit the site and do not convert, Facebook allows you to target them with specific advertising in order to bring them back to the website.
Statistics prove that retargeting is an excellent tool for converting customers and enticing those who bounce without buying. To learn more about how MODsocket can help take your small business marketing efforts to the next level, visit us at www.MODsocket.com.