Retargeting – The Secret to Expansive Market Reach

The marketing landscape is forever changing and everyday there is a new technique or tactic that you read about as the ‘it’ thing to do. Although this is not new, one marketing strategy business should definitely take a good look at is retargeting.

Retargeting campaigns are highly-focused and cost-effective marketing efforts that can help your business persuade interested customers to buy your products or services, as well as continually expand your market reach.

There are many reasons why prospective customers who check your products and services leave your website before making a purchase, including indecision, the desire to compare you to competitors, real life distractions such as phone calls or knocks on the door, wallet inconveniences, such as not finding their credit cards, and a thousand other reasons. Retargeting is the solution to all of these. It’s such an effective strategy that 88% of brands are already using site and search retargeting, according to the Chango State of the Industry report. Not using retargeting is a sure way to lose customers and suffer from online marketing conversion rates that are lower than average.

How Retargeting Works

The mechanism behind retargeting is straightforward and very effective: a bit of code placed on your website creates a cookie in the browser of your prospective customer, adding him or her to your retargeting list. After they leave your website, you can remind them about the product or service they viewed or about other similar offerings by retargeting them, that is, sending them ads that display while they browse the web. Retargeting creates the impression that your ads are everywhere, but that is of course not quite true — your ads display only to those people in your retargeting list.

Many marketers use Google AdWords’ retargeting tool for websites, which is a great starting point. In addition, social media giants Facebook, Twitter, and LinkedIn have their own retargeting tools, and there are plenty of advanced third party solutions, including Perfect Audience and AdRoll, which supports Apple iAds.

Retargeting Provides Great Value

Another reason for you to use retargeting is that it is a cost-effective marketing strategy in the long-term. Focusing specifically on visitors who have checked your products or services, it enables you to market your brand to an audience that is interested in what you have to offer. Of all forms of online marketing and advertising, retargeting offers the best value for every dollar spent. By being so targeted, it provides an expansive market reach at costs that are far below those of other online marketing strategies, and offers superior results to most types of ads.

Other Benefits of Retargeting

Apart from offering you a second, a third, a fourth, etc. chance to convert a visitor into a customer, retargeting enables you to capture valuable user data in a natural way, without having to invest in data mining or research. If your website receives a steady stream of visitors, placing a retargeting code on your landing page gives you the opportunity to build over time an audience within your wider audience that is a highly relevant retargeting list comprising of visitors who have shown interest in your brand, products, and services.

Used in this way, retargeting becomes a multi-purpose marketing strategy that not only increases conversion rates, but enables you to build a customer list to which you can later send personalized offers and ads. Without retargeting, building such a customer list would entail in-depth research and considerable costs, not to mention that it would take time.

Retargeting Works Across Industries

Another benefit of retargeting is that it is a highly versatile strategy that works for any business in any industry. It doesn’t matter whether you’re selling pizza, search engine optimization services, luxury watches, trips to exotic destinations, or website design services — retargeting is a dependable strategy that you can use to complement all your other marketing efforts. It goes great with organic SEO marketing, paid advertising, social media marketing, or content marketing. All the traffic that these strategies bring you can be used by a retargeting campaign to increase the efficiency of your marketing efforts.

Finally, it’s important to highlight that just because you don’t have an IT team doesn’t mean you can’t make the most of retargeting. According to the same study cited above, 47% of brands outsource their retargeting efforts. Whether it’s in-house or outsource, retargeting should definitely be one of the priorities of your marketing campaign.