In most cases your brand won’t capture a sale on the first interaction. In fact, it can take 6-8 touchpoints to close a sale. This means that your customer might do a search for a product in your vertical, visit your website, check reviews, see an ad on social media and further explore a product before being ready to commit to a purchase. This is why remarketing is so important when it comes to lead nurturing. It allows your brand to stay in contact with people who are interested in your product or service and guide them successfully through the customer journey.
Keep reading to learn some of the basics about remarketing.
What is remarketing?
Remarketing is when your brand continues to reach out to potential customers as a reminder that your product or service is there and can meet their needs. It’s most often used in digital marketing strategy through email or even SMS (text) if you happen to have the customer’s phone number. Which tactic is employed and the type of messaging or offer served will depend on the specific stage of the customer journey.
Remarketing vs. Retargeting
While these terms are often used interchangeably, there is a difference between remarketing and retargeting. Remarketing mostly uses first-party data such as contact information provided by the customer to your brand. For example, an email address that was given to receive eNewsletters and updates from your business. Another common format for remarketing is via SMS messages. Remarketing can be used to prompt a purchase, remind your customers of rewards or other types of content offers. For example, Target shares rewards, savings and sales of interest in this remarketing email.
Retargeting often involves paid options such as pay-per-click (PPC) placements, paid social media and other ways to re-engage customers that focus on paid strategies. It’s important to note that with the deprecation of third-party cookies, remarketing will become even more important, as it uses first-party data and tracking given knowingly and willingly by the customer.
Why include remarketing in your marketing strategy?
Re-engaging your audience with remarketing can help your brand with those vital touchpoints needed to secure a sale. Since 97% of shoppers leave a website without converting, remarketing can help raise brand awareness as well as keep your audience engaged. It’s a cost-effective technique that often results in a strong return on investment (ROI). The Harvard Business Review conducted an experiment that demonstrated that remarketing campaigns led to an 11% increase in click-through-rate (CTR) and a 38% increase in revenue.
When to use remarketing
There are numerous opportunities for a remarketing campaign to make an impact. It can be used to connect with a shopper that viewed an item on your website but didn’t make a purchase. Similarly, abandoned cart emails can remind your customer that the purchase isn’t complete. Lead magnet retargeting can be tapped once your customer downloads content provided by your business such as an eBook or whitepaper.
Remarketing can be used any time the customer has shown interest in your brand, but did not follow through with the desired action (most likely a purchase). Ideally, it will be personalized and show an item or showcase a service of interest.
Here are a couple examples of remarketing:
Re-engage with remarketing
Remarketing is a powerful tactic to re-engage your brand’s target audience. It can help your brand stay top-of-mind with customers who have already shown interest but have not yet completed the desired action. The right remarketing approach will help lead nurturing strategies, particularly through the Middle of the Funnel (MOFU) stages of the customer journey. As third-party cookies are phased out, remarketing with first-party data will become a key approach in reaching out and re-engaging customers.
Schedule a call with Beyond Fifteen today and see how we can help your brand use remarketing to reach digital marketing goals.
