What is Retargeting, and Why is it Beneficial for Marketing Strategies?

You might know the exact definition of retargeting, but you’ve definitely seen it— and experienced its effects. Retargeting, sometimes known as remarketing, is like playing Six Degrees to Kevin Bacon but for brands or services. It’s both slightly vexing and simultaneously fascinating (like Kevin Bacon).

In this article we’ll dive into how retargeting can be used in every stage of your marketing funnel and the benefits of incorporating it into your campaigns.

The bullet-point benefits of utilizing retargeting in marketing strategies

So, retargeting in a nutshell is a form of online advertising that allows businesses to show ads to users who have previously visited their website or interacted with their brand. It’s a powerful tool for businesses because it will enable them to stay top-of-mind with potential customers and bring them back to their site to convert into a sale or lead.

There are several key benefits to using retargeting ads in your marketing efforts:

• Increased brand awareness: Retargeting allows businesses to keep their brand in front of potential customers, even after they have left their website. This helps to increase brand awareness and keep your business top-of-mind for potential customers.

• Improved website conversion rates: Retargeting ads effectively bring visitors back to your website and convert them into customers. Because these ads are only shown to people who have already shown an interest in your business, they are more likely to convert into a sale or lead. Statistics show that prospects are 70% more likely to convert through a retargeted ad.

• Greater targeting and personalization: Retargeting allows businesses to show ads to specific groups of people based on their previous interactions with your brand. This means you can create highly targeted and personalized ads that are more likely to resonate with your audience.

• Cost-effectiveness: Retargeting can be a cost-effective way to reach potential customers because you are only showing ads to people who have already expressed an interest in your business. This means you are not wasting ad spend on people who are not likely to be interested in what you have to offer. Retargeting ads have an average CPC of about half of search ads. Though it’s best to have a blend of the two, knowing when to use each and where to use them can help cut costs significantly.

• Better ROI: Because retargeting is so effective at bringing visitors back to your website and converting them into customers, it can lead to a better return on investment for your marketing efforts.

Bacon’s Law of retargeting campaigns

Retargeting is about repetition.

It works well because it plays by psychological rules (don’t be freaked out), pressing a persuasive button in your prospect’s brain multiple times—ideally at least seven—over a period of time.

What does this look like?

Let’s say you’ve been looking to switch to cruelty-free brands. You’ve been using a trendy natural deodorant, but it’s just not cutting it for you. This means that you’re already prone to influencer marketing and social media campaigns, so you’re on a brand’s retargeting radar already. Now let’s say you discuss a novel natural deodorant with your sister-in-law that says it can be used anywhere on the body, and you did grow up in the era of the “feeling not-so-fresh-down-there” ads, so you’re intrigued. You go to their website to peruse and laugh at their clever marketing slogans like “ for pits, privates, and beyond.”

“haha,” you say, “what a wild idea...but kind of cool?”

Since visiting that website, you start to see the brand pop up in your social feeds, your Duolingo ads— between songs in your YouTube playlists at work—tip of the tongue and top of the mind. Hook line and sinker, you’ve seen it enough to convince you to at least check it out. You even pay the extra five dollars for a “surprise gift.”

Most prospects will need a nudge to feel secure in their decision. However, the emphasis is on nudge. Retargeting campaigns will only annoy your prospects when done wrong, resulting in an unsuccessful campaign and money lost.

How to use retargeting at any stage of the marketing funnel

These days the marketing funnel journey is not a linear path. Prospects can jump in at any stage, so you must be prepared to pique their interest wherever they are.

Awareness

Usually, when a prospect lands on your site, they’re simply looking around for information. From there, search retargeting, and audience targeting can be used to drive awareness. Audience targeting is the practice of using demographic, geographic, behavioral, contextual, interest, and intent-based data to target your ideal audience all over the web. Retargeting gets you in front of a broader, but still qualified, audience, expanding your reach and reinforcing your brand instead of limiting efforts to the people just visiting your site.

Interest & Decision

There are a few areas in which you can utilize retargeting techniques to increase interest, like email and CRM strategies, but dynamic retargeting through social media is an excellent place for companies to reintroduce products and services to customers on platforms like Facebook, Instagram, and LinkedIn. This puts you shoulder to shoulder with your prospects’ friends, family, and coworkers. When the campaign is successful, it makes your brand feel like an established part of their life.

Action

A bonus benefit of retargeting is that it keeps you in your audience’s mind. Just because they’ve engaged with you once doesn’t mean they’ll necessarily continue to do so. Therefore, you can continue to showcase updates to your product or services through retargeted marketing campaigns.

Hit all your targets with Omnio Marketing

We know there are many marketing options, but we believe that our boutique touch is what sets us apart. We don’t want to be everything to everyone— we want to be the best at what we do for our clients so they can be the best at what they do for their customers. Let us take some things off your plate so that you can focus on what you need to do.

Contact Omnio today!