Sometimes it might seem as though internet and digital marketers speak in an entirely different language to the rest of us. They talk in acronyms and strange terms.
Remarketing is just such a buzz word and something that means very little to those who aren’t making a living by selling digital products online or using the internet to grow their business in general.
Essentially, it means showing ads to people who have already been to your website, people who have already shown an interest in a specific product or service you provide and even people who have done or are currently doing business with you.
Let’s use an easy example of remarketing. Imagine someone has added a pair of shoes to their shopping cart on your website, remarketing might then involve targeting them with ads to offer them more shoes. Or offer them a special promotion as a thank you for their purchase to get them to spend more money on your products or services.
More over, let’s say this customer placed the shoes in they shopping cart but didn’t finish the check out process. Maybe they changed their mind or were disrupted in middle of buying.
With remarketing, you can target these individuals via an ad that nudges them to complete the checkout process.
Still not sure if remarketing is right for you and your business? Here are 4 more reasons why remarketing is so powerful.
1. The real power of remarketing lies in the fact that it allows you to target people who have already shown some interest in what you’re doing and perhaps who were considering buying for you.
In marketing speak, we call these people warm or qualified leads. That is to say that they are more likely to buy from us given the right incentive or nudge.
Remarketing this way is a very powerful strategy because you aren’t approaching a complete stranger who has never heard of your brand, trying to sell them something they’ve shown an interest in before.
That former example is how a lot of traditional marketing works, and it’s essentially equivalent to walking up to a stranger and asking if they want to come home with you and stay the night!
Successfully picking up a date involves doing groundwork by chatting for a while. Normally it means getting their number and flirting, maybe going out a few times first.
The same is true with marketing. People will be more likely to buy from you if they know your brand.
And if they came extremely close to buying once before, you know they at least have the potential to be interested.
2. Remarketing increases brand awareness at the fraction of the cost of a PPC ad. Targeting a warm audience via a remarketing campaign can be significantly less expensive than trying to reach a cold audience with PPC.
3. Because a remarketing campaign is historically less expensive per conversion, the ROI on a remarketing campaign is very favorable.
4. Drilled down audience targeting and custom audiences makes remarketing campaigns very powerful. You can target those clients that didn’t complete a purchase, but can also target existing customers and clients to stay top of mind or remind of a sale. You can also target customers that have gone cold and reignite their interests.