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Retargeting to Increase Conversion Rates
Part 2 of 3 | This is a three-part series on Digital Marketing
Are You Missing Out on a Huge Opportunity?
What are you doing with the traffic your website receives? If you’re not retargeting (AKA remarketing), you are losing out on a huge opportunity!
I’ll bet most of your traffic does not convert to a lead or a sale on your website. This is just the nature of the Internet. Across industries, the average landing page conversion rate is around 2%.
- People come to your site for information and then they leave. They are searching and comparing.
- You know that staying top-of-mind is important in winning the sale, but did you know that you can reach these people again without them even having to find or remember your website?
This is where retargeting comes in.
Retargeting is the practice of serving graphical banner ads (like the one to the left) to people who have been on your website or looked at a certain page of your site. These people see your ads while they browse other websites that display ads–such as YouTube, news and weather sites, social media sites, blogs and forums, and information sites. I’m sure you’ve been shopping online, and then a few days later you see an ad with the same products you were looking at, or similar products. This is retargeting.
Retargeting Increases Conversion Rates
Retargeting has the ability to increase conversion rates significantly. According to a study from DataXu, brands dedicated to customer service saw an average 128% increase in conversions, while others associated with financial services enjoyed 147% growth. According to comScore, retargeting is the most effective method of getting potential customers to return to your website; leading to a 726% lift in return visitors after four weeks of being exposed to the original ad.
We’ve discovered that, although click-through rate (CTR) decreases, users are twice as likely to convert after seeing your ad several times. The CTR should not be used as a Key Performance Indicator (KPI) in retargeting campaigns.
Retargeting ads actually fatigue at half the rate of generic display ads. People remain interested in your ads longer. To keep things even more interesting, we like to practice rotating various ads and messages after a period of days or weeks for certain clients.
Where to Retarget
Google and Facebook offer the best reach when it comes to remarketing.
Google AdWords Retargeting
Retargeting with Google allows you to retarget with more than just display banner ads. You can also retarget with text-based SERP (search engine results page) ads in Google search. This is a fairly new feature. Anyway, Google has a MASSIVE network called the Google Display Network (GDN) which reaches over 90% of all Internet users.
Facebook Ads Retargeting
Facebook is another great platform to retarget on, reaching around 51% of all Internet users. Facebook Ads allows you to narrow down your audience a little deeper than Google AdWords.
Retargeting on both Google and Facebook can be incredibly powerful. Both platforms are awesome, and easy to use.
Retargeting is Affordable
Compared to regular display advertising and other means of digital advertising, retargeting is very affordable. Ad buys are less costly and your audience is generally smaller–all while conversions are much more likely to occur.
If you need help retargeting, our agency is here for you! Give us a shout.