HOW TO USE REMARKETING TO INCREASE YOUR REVENUE
Remarketing (or retargeting) is regarded as the most underutilised digital marketing tool by 46% of SEM professionals. Why is remarketing important? It’s a great way to increase sales and revenue.
In fact, any type of business whose website doesn’t have a 100% conversion rate, should add retargeting as a tool in their marketing arsenal. The advantage of remarketing is that you can target an audience who are already familiar with your brand seeing that they’ve visited your website before. After all, it’s easier to re-engage a user who has shown some level of interest in you rather than trying to acquire more first-time clicks.
As with most digital marketing practices, there are good ways and bad ways of doing remarketing. Remarketing is a science and there’s a formula to using it effectively. In this article we look at five strategies that illustrate how to use remarketing to get the best results.
What is Remarketing?
First off, let’s have a look at what remarketing is and how it works.
In essence, the main goal of remarketing is to serve relevant, personalised advertisements to those users who have had a previous interest in your products or services, with the goal of getting them to convert on your website.
Retargeting is much like bringing “window shoppers” back to your site and converting them into paying customers, thereby increasing your sales and revenue.
An example of remarketing could be someone who’ve searched for flights to Sydney (who didn’t purchase a ticket) being served advertisements on similar flights, hotel- or car rental deals on other websites.
When the user interacts with your website, he gets tagged with a cookie that you implemented to track him. Then, he gets reminded of your product or brand with an ad on the platform you choose – whether it is Google, Facebook, Twitter, or even on Instagram.
Why is Remarketing Important?
The importance of remarketing in digital marketing is all about conversions and revenue. Remarketing can have a great impact on your ROI. A significant number of retargeted prospects, 26% to be exact, will return and complete their online check out. Seeing that this accounts for about a quarter of all unconverted site visitors, it’s clear to see why remarketing is important.
Let’s look at the five strategies you can follow to increase your success rate with retargeting.
1. Conversion Rates Increase with More Ad Impressions
The essence of inbound marketing is to provide the best offer to the right prospect at the perfect time. But there’s one more variable to take into account: frequency.
With “normal”, non-targeted adverts “banner blindness” or “ad fatigue” can set in relatively quickly, especially if the advertisement is seen too frequently or is poorly designed. This results in decreased clicks.
WordStream research suggests, however, that this happens nearly 50% less with remarketing banners, which have longer positive effects on consumers. A user is far more likely to engage with a remarketing ad, even after having seen it six times before, than they are with a brand-new generic display ad. In fact, conversion rates actually increase the more users see an ad within remarketing campaigns.
A good strategy is therefore to serve remarketing ad campaigns for longer periods than you would a normal generic banner ad campaign as this will increase conversion rates.
2. Carefully Define Your Audience to Reach the Right People
You can have well written ad copy and an eye-catching design in your advertisement, but the most critical element that will determine your campaign’s success is the target audience.
To illustrate this point, let’s look at the different types of users a website might receive. Some users might have jumped off a blog and some might have left your site from a product page.
Using higher ad placements for warmer traffic that’s more likely to convert, you can close more sales.
3. Don’t Exclude the Audience that has Already Converted
A common mistake many digital marketers make is excluding those customers who’ve already converted from future marketing campaigns. Converted customers have already proven that they have an affinity with your brand so it only makes sense to continue communicating with them to build loyalty.
Converted users are the perfect audience for offers on new product launches. An audience, for example, who’ve bought clothes from a summer collection could be served ads that promote the new winter collection. You can even offer discounts to this type of users, which will further enhance conversions and build loyalty.
4. Benefit-Driven Image Ads Perform Better than Text Ads
When it comes to creating ads, it’s key to differentiate between features and benefits. Benefits are what appeal to the user emotionally, hence your ads should always sell benefits instead of features. To identify a benefit, ask yourself: How does my product or service make the customer’s life better?
Sun cream, for example, has a clear feature – protecting skin from the sun. The benefit is feeling more beautiful and confident due to having more youthful skin.
Aside from selling a strong benefit in the headline, it also helps to have eye-catching imagery. On the Google Display Network, image ads get a higher CTR of 0.31% where text ads only get 0.23%. For this reason, it is well worth the investment to hire a good designer to create those fancy image ads.
Another benefit of compelling, benefit-driven ads is that they have better click-through rates (CTRs), which brings down the cost of your ad campaign.
WordStream found that for every 0.1% increase or decrease in the CTRs of your ads, your click costs will go up or down by a staggering 21%. So, the more clicks your ads generate, the less you pay per click.
5. Create Custom Landing Pages for Each Ad
A well-designed landing page creates a seamless experience for the user, from the moment that a remarketing ad piques their interest to the moment they convert. Therefore, each ad should have its own landing page on which the retargeting message is incorporated.
For maintaining interest, it’s good practice to keep the headline, image and the colour of your website custom landing page the same as your ad. It’s also important to pay special attention to the copy. The landing page should deliver on the promise made in the ad.
By having a landing page that mirrors the remarketing ad and leads the prospect in clear, easy steps to conversion, you can create a smooth experience for the user and improve your conversion rate tremendously.
Remarketing Experts can Accelerate Your Conversions
Whether you’re an e-tailer selling your products or services online, a travel agent, a B2B company or a non-profit seeking donations or volunteers, remarketing can work in your favour to increase your revenue.
If you want to create a profitable remarketing campaign for your company or brand with high ROI, get in touch with our team of remarketing specialists today. We have the know-how to turn interested prospects into paying customers.