Have you ever considered buying a pair of shoes online and right before you checkout you abandon the idea and then a week later begin to notice an ad for that very pair of shoes everywhere? It comes up while you’re browsing your favorite news site, or on Facebook.
It’s obvious this isn’t a coincidence. When you visited the site that sells those shoes, there is a program that installs a cookie in your browser files. This creates a direct link between this site and your browser. Ads can now be served to you within this browser and on any and all participating websites.
Remarketing is a powerful way to keep prospects in your sales funnel. With some strategic planning, you can go beyond reminding people of what they saw on your site and begin to develop a new kind of narrative for your products. There are a few key areas where remarketing can prove to be incredibly powerful.
Indirect members are those who have only one product or service you offer and don’t realize they’re a member. At James & Matthew, we’ve identified a way to retarget indirect members successfully across the internet by using nothing more than an email address. This process leads to success because a) many companies have their indirect members’ email addresses and b) up until now, the only way to reach them was through email. Email has its place in a marketing strategy, but it is no longer the most efficient way to market to indirects; remarketing is.
Building “Wallet Share”
A consumer’s profitability increases as that person uses more products and services that your company has to offer. This is another great angle for remarketing. If they’re already using one or two of your products, then there’s a good chance they’re visiting your website often. This is an excellent opportunity to use remarketing to up sell these folks on your other products and services. The other great thing about this tactic is that it’s completely scalable. If you have enough traffic to other pages on your site, you can serve different ads from there, as well. This is where understanding your consumers really can help you.
For example, if someone visits your “about us” page, you could serve them ads about your mission and brand. Going even deeper, you can also target people based on a specific action that they perform on your page such as starting to fill out a form or clicking a “learn more” button, etc.
It’s an Evolution
The greatest thing about almost any form of digital marketing is that you can adjust and make changes. It’s driven by your ambition and your ideas. In March, we developed over 800 remarketing ads for one single campaign, because it was what made the campaign get the results needed to be a success.
Having a simple understanding of what your remarketing analytics are telling you allows you to pivot and adjust. You can start new ads very quickly and stop existing ads just as quickly. Industry average click-through rates for remarketing ads is roughly .04%, so anything at or above that and you know you’re headed in the right direction.
Another place to monitor is your Google Analytics account. Here, it isn’t just about the quantity of visits or traffic that your site is getting from your remarketing ads – it’s also about the quality of those visits. Pay close attention to the bounce rate, TOS (time on site), and assess the number of pageviews and unique pages views acquired. As you run remarketing on social platforms, take the time in Google Analytics to analyze how each channel is performing – again TOS is a great reference point for quality.
Excellence in digital marketing is about being efficient and that means being nimble, as well as adjusting to trends that you may see.
Part 2 coming soon!