Imagine you walk into a store to buy a specific laptop. The store does not have that particular laptop but is the sole distributor for another model. The alternate model has specifications that is at par with the laptop that you walked in to buy. You walk out of the store confused about which laptop to buy. This is where remarketing helps.
If the alternate model is remarketed in an effective way, the chances of you choosing to buy that model increases substantially. In the digital world, the influence and effectiveness of remarketing increases leaps and bounds.
What is Remarketing?
Remarketing is a clever and effective way to connect with visitors to your website who may not have made an immediate purchase. Remarketing in digital marketing allows you to position targeted ads in front of an audience that consists of users who had previously visited your website while they browse the internet.
The defined audience includes users who have abandoned the registration process, subscription, purchase, or checked out the landing page, investigated the products or even created a shopping cart. Tempted by the actions of remarketing, users are likely to resume the process and finalize it. Remarketing works on this basic principle – “In the digital world, it makes more sense to convince people buy something in which they have already shown some interest in.”
Remarketing has a variety of applications:
a. Redirect traffic to your website:
Remarketing can help you recapture some of the lost traffic. The people who have abandoned the purchase process are attracted back to the host website, with the intention of getting them to finish the operation. The main objective of remarketing is more or less related to redirecting traffic to your website.
b. New Product Updates:
Remarketing is especially helpful if you have an innovative product and you want to make the user aware about the product. This is because it’s unlikely that a user will pay enough attention to notice the ad and the details of the product. Remarketing will definitely help here!
c. Brand recall and strengthen brand image:
A positive brand image and brand recall has become extremely important in today’s day and age of media and marketing. A positive brand image and recall helps to increase the credibility, relevance and reliability of your brand. Remarketing can prove to be especially helpful here.
d. Reselling/ Upselling the existing products:
Reselling, upselling, and cross-selling are commonly used terms in e-commerce. Upselling is a practice wherein a customer is encouraged to purchase a comparable higher-end product than the one in which he or she has shown interest at that point of time, while cross-selling is a process where a customer is invited to buy related or complementary items. Social media marketing India makes this possible, but all of this is easily possible if one uses remarketing techniques efficiently.
Why Remarketing for Local Business?
a. Remarketing can boost ad response by as much as 400 percent:
Research has shown that remarketing can boost ad responses by as much as a whopping 400 percent. This makes remarketing a viable option, not just for the big firms with a huge business setup but for local business as well. Retargeting ads for small business are as useful as it is for big businesses. This is because remarketing provides a satisfiable ROI, when compared to other forms of marketing.
b. Remarketing ads perform better than normal display ads:
Statistics have proved that retargeted ads perform better than regular display ads. The average click-through rate for display ads is 0.07 percent, while the average click-through rate for retargeted ads is almost 0.7 percent. Thus, retargeted ads have a click-through rate which is 10 times better than display ads like banner ads and on-site ads. Although it is true that both display ads as well as retargeted ads work best when in tandem, but it is hard to decipher why a social marketing agency prefers display ads over retargeted ads when the likely conversion rate is not that high.
c. 3 out of 5 shoppers notice retargeting ads:
According to eMarketer, nearly three out of five online buyers in the US have admitted that they notice the ads for products that they looked up on other websites. People are likely to take a note of an ad that has some kind of relevance them and that has already been in their eye for some time. Thus, there is immense potential for retargeted ads. The best digital marketing agency in India provides remarketing tips for small business as well as big businesses.
The digital world of marketing has brought with itself a plethora of opportunities. There are several thousand through which products can be marketed in a better way and sales can be boosted. Social media remarketing strategy is one such game changer that is proved to be one of the most under-utilized marketing techniques. Thus, don’t follow the bandwagon. Remarket your way to the top!