Definition of Remarketing
When you’re remarketing, you are advertising to the same person multiple times. It can be easily confused with retargeting (which is a type of remarketing), but they are different. Remarketing can be done offline, over the phone, through social media, and by retargeting.
The key to good remarketing is breaking your audience into various categories based on their stage within the buyer’s journey. There are a variety of ways to do this type of segmentation. By pinpointing a user’s stage in the buying journey, you can choose the remarketing strategy that will most effectively convert audience members.
Offline examples of remarketing can include billboards, flyers, and follow up phone calls. These strategies may seem old school, but they can still be beneficial. They can put your brand or product in front of a broad audience repeatedly.
When it comes to social media remarketing, you are targeting an already engaged audience. These individuals have engaged with your brand or product previously; by reminding them of their previous connection or experience, you can often strengthen customer loyalty, making them repeat customers. Asking questions, running contests and giveaways, and offering discounts engage those who are already interested or engaged with your business.
Emails making recommendations based on a user’s previous online actions and searches are common. However, even an even better form of email remarketing comes in the abandoned cart email. According to Moz, 30% of people visiting online stores put something in their cart, but only 3% end up checking out. Sending emails to 27% of target customers to remind them about their uncompleted purchase intent can lead to a conversion rate ranging from 16% to 42%. However, for this to work, you need an email address. Offering a discount or freebie for signing up for a newsletter or registering on a website works well for this. The trick here is timing. Getting a potential customer to engage within an hour of the initial cart abandonment increases the likelihood of purchase by 10x over waiting only as long as two hours.
Retargeting makes use of technology to re-engage users who have previously visited a website. By including a retargeting pixel on your site, you can place a cookie in visitor’s browsers. This saves the user’s information on your website, allowing you to serve up ads to those who have already engaged with your website. This type of ad can increase click-through rates by as much as 10x.
Remarketing is a way to re-engage with potential customers and turn them into loyal repeat customers.