It costs a business five times more to acquire a new customer than it does to keep an old one.
It's easy to get caught up in driving your marketing forward to keep bringing in new clients, but maybe our focus should be elsewhere. Rather than investing all of your marketing budget in gaining clients, why not invest some of it in keeping those you have?
This technique is called remarketing and it's an effective marketing method that's been gaining popularity. If you've never heard of it, now's your chance - and it could just change your business!
Find out everything you need to know in this guide.
What Is Remarketing?
Remarketing (otherwise known as retargeting) is a digital marketing strategy designed to stop those already in your sales funnel from slipping through the net. You've invested the money to get their attention, now isn't the time to lose it!
The audience is identified through a range of factors. They could be people that have already actually spent their money with you and bought something, or they could have done something different like sign up for your newsletter, followed you on social media, or simply visited your site. The point is that they've found your brand and you don't want to let them go.
How Does Remarketing Work?
Wondering how this whole thing works? There are two main methods of remarketing which we'll look into; pixel-based and list-based.
Pixel-Based Remarketing
If you have visitors on your website, even if they're anonymous, then you can remarket to them with the pixel-based method. It works by effectively tagging their browser with a little bit of code (known as a pixel) that you might know as accepting cookies. This cookie can follow the person as they leave your website and continue browsing, and notifies remarketing platforms to show ads based on the pages of your website they visited.
If you're looking for retargeting ad examples, just look around your own browser! Head to Facebook where you might see an ad pop up for that desk lamp you were looking at yesterday, or for a clothing brand you shop with frequently. It's not just a coincidence that you're seeing things you're interested in; it's retargeting.
Pixel-based marketing can start as soon as users leave your website, making it a very speedy digital marketing method!
List-Based Remarketing
List-based remarketing is less anonymous than pixel-based.To start carrying out list-based remarketing you need to have the individual's contact information already in your database, such as an email list of people who have signed up for more information about your brand.
To start remarketing to them, you'll upload this email list onto a remarketing campaign tool (often on a social media platform). If the platform can match an email address on your list to one that has a profile with them, they'll start targeting them with your ads. This is a little less common than pixel-based remarketing, but it is highly customisable and you can take more control over who you're targeting.
However, if your user gave you one email address and the social media platform another, you're going to lose them! That's definitely the downside to this method and something to consider.
The Goals of Remarketing
So, what's the point of remarketing? There are a number of different aims that remarketing campaigns often have.
For example, one common aim of remarketing is to raise brand awareness. If someone has been on your website once they might not remember your name, logo, or the colours you use, but if they see you a few more times the chances are they'll start to!
Of course, driving conversions is also a prominent goal. If someone is slipping out of the sales funnel, remarketing is meant to bring them back in and push them towards that sale button. However, if you want to drive conversions you'll need to have a multi-pronged approach and not rely solely on remarketing to get the job done.
Other goals of remarketing include:
- Completing the buyer's journey by reeling them in with your bait
- Increasing customer lifetime value
- Reducing cart abandonment
- Introducing new products to old customers
Who Should You Be Retargeting?
If you get hundreds of visitors to your site every day, it's probably going to be far too expensive to remarket to all of them. You have to pick and choose the most likely users who will be susceptible to remarketing. These fall into a few categories, including:
Cart Abandoners
Regret is a powerful tool, and if someone has abandoned something in their cart on your e-commerce site then you can use it to your advantage! They were just one click away from making a purchase, and by remarketing them and showing them that product (or something similar) you have a high chance of leading them back and securing a sale.
First-Time Visitors
Something made a first-time visitor interested in your brand, and it's unlikely that the interest will have suddenly disappeared. It might take a few tries to get them to commit to their first purchase but remarketing should keep them coming back.
Recent Visitors
If you want to make the biggest impact, try to remarket to your audience while you're still fresh in their mind. Recent visitors are the furthest from forgetting your brand altogether, so make sure you keep reminding them of you!
Repeat Customers
Repeat customers have already built up a relationship with you and know who you are. The aim of remarketing to repeat customers is to remind them of your brand if they haven't shopped with you for a while and show them new products that might suit their needs. You know more about these customers too (their buying history, how much they typically spend etc.), so make the most of this information when choosing which ads to show them.
When Is the Best Time to Remarket?
Retargeting is largely about getting the timing right. We already mentioned that remarketing to visitors quickly after they've left your website is a great idea, but are there any other times that could be particularly beneficial? Yes; and here they are!
Special Occasions
Around holiday periods and special events, people are more willing to spend. Christmas is coming, Valentine's Day is just around the corner, or do you know a user's birthday is coming up? Remarket to them and take advantage of their more frivolous spending habits - or get on their birthday wish list!
Sales and Discount Events
If you've just discounted products, definitely remarket them to the users who have previously been interested in them. If they were already tempted by the item, a price cut is only going to add to that.
Or, be super clever are remarket them when you detect that a product that they bought is either out of date now or is likely to be used up. This can be useful for a wide range of products, including food, makeup, cleaning products, subscription services; basically anything that can run out.
Keep Ads Sporadic
Users aren't going to want to see an ad for your brand every single day, and any more than that is sure to get your ads blocked! Try to spread your remarketing out and focus on the frequency of your ads to make them less invasive. Once a user converts and makes a purchase, it's also important you stop advertising that product to them, and perhaps even pull back on the remarketing altogether for a little bit.
The last thing you want is for users to get tired of you, so don't let them!
How to Get Your Message Right
Now that you know who you're targeting and when you need to perfect your ads. There are a few elements, in particular, to consider when assembling the perfect message and getting the communication right, including:
- Including your company logo and colours to ensure your audience recognise you
- Keeping words to a minimum and using a CTA (call to action) to encourage your audience to do something when they see your ad
- Show something appealing, be it a product, a sale, free shipping or anything else that might appeal to your target audience
- Add a link to the product or service page that you're advertising
- Remember to consider your demographic when remarketing and tailor your ads to suit their needs and wants
It's all well and good getting the targeting right, but if your ad isn't up to scratch it'll be no use! Take care to put together a winning campaign and you'll be much more likely to see remarketing success.
