Since the advent of digital marketing, both small and big businesses have been doing their best to acquire new customers, make sales, and build a reliable brand. Gone are the days when big businesses dominated the marketplace due to a higher advertising budget. With digital marketing, small businesses can now effectively compete with big brands using the right techniques and the right platforms.
In this article, we will discuss retargeting as one of the most critical marketing strategies for businesses today and how you can effectively utilize this frequently overlooked strategy to grow your business.
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What is Retargeting?
Simply put, retargeting is the process of converting window-shoppers into buyers. It is a marketing strategy that allows you to target users who visited your website for the first time and left without converting.
According to research, only 2% of users that visit your website for the first time will convert or follow through with your call to action. With this strategy, however, you can try re-engaging the other 98% by showing them relevant ads peculiar to their interest to get them to come back to your site and make a purchase.
How Retargeting Works?
Retargeting works with the help of a pixel. When users visit your page, a code known as a cookie is attached to their computers by the pixel. This code follows them around and helps your ad identify them as they browse through the web. This is why your ad can easily show up on their screens no matter the websites they are on.
How You Can Use Retargeting to Retain Customers and Grow Your Brand
Only Display Personalized Ads
According to research, about 78% of consumers believe that personally appropriate ads from brands enhance their purchase intent. Therefore, it is vital to create personalized ads that relate to whatever product they were interested in on their visit to your website.
Offer Discounts Where Possible
In marketing, it is no longer news that customers love good deals, so offering a discount to users who had already displayed an interest in a particular product is sure to pick their interest.
Complement Your Retargeting with Other Marketing Channels
A recent study by marketers showed that using retargeting with another marketing channel can boost sales by more than 50%. Marketing methods such as pay-per-click, video marketing, and email marketing can help drive traffic to your website and increase sales. But retargeting is how you make sure they come back for more, thereby boosting your sales.
Infographic Source 99 Retargeting Statistics
Bottom Line
Research has shown that retargeting is often underused by marketers and big brands across several industries. And that is what makes it the perfect marketing strategy for your business growth. If you have a website that is consistently generating traffic, retargeting can help you retain over 78% of the traffic and guarantee conversion.
