Retargeting; I’m sure you have heard the term by now. But what is it exactly and how does it work? Whether you realize it or not – you have experienced retargeting personally.
Say you go to NBA.com to check out a new team jersey. You click on it, maybe select your size, and perhaps even add it to your cart. Then you quickly close the site because you know your spouse would have you for buying another jersey. The next day, you get on Facebook to check on your nieces and nephews and what to your wondering eyes should appear?! The very same jersey, in front of you, right there.
Welcome to the world of retargeting. It is one of the most powerful display advertising tools currently used and proven to be one of the most effective ways to increase sales. It gives you the ability to target and follow-up with those users who have shown a propensity to purchase. Instead of continually casting a broad net, you can now narrow in on those who have shown a true interest on one of your specific products. So how does it work? Through your website and online display advertising. When a user visits your website a cookie is placed on their device. From there, you can retarget based on that cookie with display ads through online exchange networks and social media networks. Retargeting allows you a lot of customization and control with your parameters. For instance, you can set the number of times someone is retargeted with an ad and within what timeframe you would like to be reserve.
Using retargeting can highly boost your ad responses and increase conversion rates on those who’ve been cookied. Someone who has been retargeted from visits to your website is 70% more likely to make a purchase on your site. Right now, the average CTR (click through rate) for a display ad is 0.07%. The average CTR for a retargeted display ad?… 0.7%. The data is staggering. Adding this component can help you acquire competitors customers, build brand awareness, convert site visitors, convert online purchases, and on and on we could go.
In short, I hope this gives you some insight and desire to add this into your marketing plan!