Why Is Retargeting Essential For E-commerce Businesses?
92% of customers who visit your website will leave without placing a purchase and an average of 69.57% will abandon their shopping carts.
These people might not be ready or get distracted whilst placing an order and might be lost to you forever if you don’t find a way to bring them back.
What Is Retargeting?
Retargeting is a marketing strategy that looks to remind the people who visited your site of the products and services they were previously looking at and encourage them to return and convert.
Retargeting can be done through a number of different channels including paid social, paid search and email marketing. Reminding your website visitors about what they have browsed, you are able to give them an opportunity to easily click back and finish their purchase. Retargeting is a middle to bottom of the funnel activity and is usually very targeted to a small group of customers, warm leads.
To put this into perspective, retargeted ads on Facebook are 76% more likely to receive customer engagement than regular display ads.
Why Is Retargeting Important?
The marketing rule of 7 states that your potential customer needs to be exposed to your brand at least 7 times before a purchase will take place. This is why retargeting is important.
Your website visitors may come from your top of the funnel activity through social media or paid search, but just once is never enough. Retargeting allows us to continue showing them relevant information about your product/brand with an easy way to return to your website.
Using customer data to create personalised ads will help build brand awareness which will, in turn, convert to a higher click-through rate and ROI as they are more likely to recognise the products you are showing them.
Personalisation through retargeting is a great way to build trust with these potential customers. Perhaps you send an abandon basket email with their first name or show the exact product they spent time browsing on their Instagram feed.
Using Social Media To Retarget Customers?
There are several social media pixel and tracking tools that can be used to collect customer data and retarget customers. Facebook Pixel, TikTok Pixel and LinkedIn Insights are some examples.
To start off, you would need to install the relevant tracking codes to your website, then when a customer visits your site, views a product, adds a product to their cart or buys something a cookie is dropped into their web browser.
Let’s say you are a boutique owner and your Facebook follower named Sarah goes to your website and adds a couple of dresses to their cart and then leaves the site. When Sarah leaves your site to read an article on the Sun’s site, they might see your advert there. She then leaves the Sun and goes to Facebook and again sees your ad. This time she might decide to engage with your advertising link to complete her purchase.
Picking the right social media platform to retarget your website visitors will depend on your brand. Facebook’s average cost per click tends to be quite low for retargeting campaigns, we would definitely recommend trying there first.
Tailoring Your Retargeting Ads
To make sure your ads are more effective, you need to make them tailored to target specific audiences. For example, people who visit your landing page will be shown different ad copies and images compared to people who visit specific product pages or several pages.
You can give the customers a better experience by personalising their ads but in order to find the right ad messaging, imagery etc., you can use the A/B testing method which is basically showing different variants of ads to different audiences.
If retargeting is incorporated correctly into your E-commerce marketing strategy, your business could benefit from an increase in sales conversions, ROI, brand awareness and customer trust.
If you need tailored advice on creating retargeting ads, drop us an email at firstname.lastname@example.org
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Teitt, R., 2017. STUDY: 92 Percent of Consumers Visiting a Retailer’s Website for the First Time Aren’t There to Buy– PRNewswire. [online]. Available at: https://www.prnewswire.com/news-releases/study-92-percent-of-consumers-visiting-a-retailers-website-for-the-first-time-arent-there-to-buy-300390086.html#:~:text=All%20Products-,STUDY%3A%2092%20Percent%20of%20Consumers%20Visiting%20a%20Retailer’s%20Website%20for,Aren’t%20There%20to%20Buy [Accessed 02 April 2021].
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