Hello friends, today I will be sharing insights on retargeting campaigns.
Nowadays retargeting campaigns have emerged as a powerful tool for converting prospects into customers. Retargeting, also known as remarketing, involves targeting individuals who have previously interacted with your brand but have not yet converted. As a professional media buyer and ads manager, understanding the nuances of retargeting can significantly enhance your campaign performance and ROI. This comprehensive analysis will delve into the importance of various retargeting strategies, including abandoned cart sequences, retargeting video viewers, and more.
Understanding Retargeting
What is Retargeting?
Retargeting, also known as remarketing, is a digital marketing strategy that aims to re-engage potential customers who have previously interacted with your brand but did not complete a desired action, such as making a purchase. It involves serving targeted ads to these users as they browse other websites or social media platforms, reminding them of your products or services and encouraging them to return and complete their transaction.
How Retargeting Works
1. Tracking User Behavior:
• Cookies and Pixels: Retargeting relies on cookies and tracking pixels to monitor user behavior on your website. When a visitor lands on your site, a small piece of code (a pixel) is placed in their browser, allowing you to track their actions and identify them for future targeting.
2. Segmenting Audiences:
• Behavior-Based Segments: Users are segmented based on their behavior on your site, such as viewing specific product pages, adding items to their cart, or watching a video. These segments help you create highly targeted ads tailored to each group’s interests and actions.
3. Creating Personalized Ads:
• Dynamic Ads: Using dynamic ad technology, you can create personalized ads that showcase the exact products or services a user viewed on your site. This personalization increases the relevance of your ads and makes them more effective in driving conversions.
4. Serving Ads Across Platforms:
• Ad Networks: Retargeting ads can be served across various platforms, including display networks (e.g., Google Display Network), social media platforms (e.g., Facebook, Instagram), and even within mobile apps. This ensures that your ads reach users wherever they are online.
Retargeting is crucial because it focuses on individuals who have already shown interest in your brand. These users are more likely to convert than cold audiences because they are familiar with your products or services. Retargeting helps keep your brand top-of-mind, nudging potential customers toward completing their purchase.
Key Retargeting Strategies
1. Abandoned Cart Sequences
One of the most effective retargeting strategies is targeting users who have added items to their cart but did not complete the purchase. Abandoned cart sequences involve a series of follow-up emails or ads designed to remind and incentivize these users to return and complete their purchase.
Importance:
• Recapturing Lost Sales: Abandoned cart sequences can recover a significant portion of lost sales. According to Baymard Institute, the average cart abandonment rate is around 69.57%. Effective retargeting can convert a portion of these lost opportunities into sales.
• Personalization: These sequences can be highly personalized, addressing the specific items left in the cart and offering incentives like discounts or free shipping.
Best Practices:
• Timely Follow-ups: Send the first follow-up email or ad within an hour of cart abandonment, followed by additional reminders over the next few days.
• Incentives: Offer discounts, free shipping, or other incentives to encourage completion of the purchase.
• Clear Call-to-Action: Ensure that your ads or emails have a clear and compelling call-to-action (CTA) to guide users back to their cart.
2. Retargeting Video Viewers
Retargeting individuals who have watched your videos is another effective strategy. Video content is engaging and can create a strong connection with your audience. By targeting video viewers, you can nurture these warm leads and move them further down the sales funnel.
Importance:
• Engagement: Video content typically results in higher engagement rates. Users who watch your videos are likely more interested in your brand.
• Storytelling: Videos allow for storytelling, making it easier to convey your brand message and values.
Best Practices:
• Segment by Engagement: Retarget users based on their level of engagement (e.g., watched 25%, 50%, 75%, or 100% of the video).
• Follow-up Content: Serve retargeted ads with follow-up content that aligns with the video they watched.
3. Retargeting Ad Viewers Who Didn’t Purchase
Targeting users who viewed your ads but didn’t make a purchase can help convert interested prospects. These individuals have already shown some level of interest, making them prime candidates for retargeting.
Importance:
• Re-engagement: Reminds users of your brand and encourages them to take action.
• Brand Recall: Increases brand recall and keeps your product top-of-mind.
Best Practices:
• Frequency Cap: Avoid overwhelming users with too many ads by setting a frequency cap.
• Varied Messaging: Use different ad creatives and messages to address potential objections and encourage conversion.
4. Retargeting Users Who Haven’t Purchased in Over 30 Days
Re-engaging past customers who haven’t made a purchase in over 30 days is essential for maintaining customer loyalty and increasing repeat purchases.
Importance:
• Customer Retention: Retains existing customers and encourages repeat purchases.
• Upselling and Cross-Selling: Opportunity to upsell or cross-sell related products.
Best Practices:
• Personalized Offers: Use personalized offers based on their previous purchases.
• Exclusive Deals: Offer exclusive deals or early access to new products to entice them back.
Expanding Your Retargeting Audiences
To maximize the effectiveness of your retargeting campaigns, consider targeting the following additional audiences:
5. Website Visitors
Targeting users who visited specific pages on your website but didn’t convert can help address specific interests or concerns.
Best Practices:
• Page-Specific Ads: Create ads tailored to the content of the pages they visited.
6. Product Viewers
Retarget users who viewed specific product pages but didn’t add items to their cart. This audience has shown interest in particular products.
Best Practices:
• Dynamic Ads: Use dynamic ads that showcase the exact products they viewed.
7. Newsletter Subscribers
Targeting your email newsletter subscribers with retargeting ads can reinforce your messaging and drive conversions.
Best Practices:
• Consistent Messaging: Ensure that your retargeting ads align with the content of your email newsletters.
8. Blog Readers
Retarget users who read your blog posts but didn’t take further action. These individuals are engaged with your content and may be interested in your products or services.
Best Practices:
• Content Offers: Offer related content or products based on the blog topics they read.
9. Event Attendees
If you host webinars or live events, retarget attendees to keep them engaged and move them toward conversion.
Best Practices:
• Follow-up Content: Serve ads with follow-up content related to the event they attended.
10. Social Media Engagers
Retarget users who engaged with your social media posts (likes, comments, shares) but didn’t visit your website or make a purchase.
Best Practices:
• Engagement-Based Ads: Create ads that continue the conversation started on social media.
11. App Users
If you have a mobile app, retarget users who installed the app but haven’t made a purchase or completed a desired action.
Best Practices:
• In-App Promotions: Use in-app promotions to encourage conversions.
12. Lookalike Audiences
Create lookalike audiences based on your existing customers or high-intent users to reach new potential customers with similar profiles.
Best Practices:
• Refinement: Continuously refine lookalike audiences based on performance data.
13. Cart Abandoners After Site Changes
Target users who abandoned their carts specifically after major site changes or updates, as these changes might have impacted their decision to purchase.
Best Practices:
• Feedback Request: Ask for feedback on the changes to understand their concerns and improve the user experience.
14. Free Trial Users
Retarget users who signed up for a free trial but didn’t convert to a paid subscription.
Best Practices:
• Conversion Incentives: Offer incentives to convert to a paid plan, such as discounts or additional features.
15. Past Customers with High Purchase Frequency
Retarget past customers who previously had a high purchase frequency but have become inactive.
Best Practices:
• Exclusive Offers: Provide exclusive offers to re-engage these valuable customers.
Measuring the Success of Retargeting Campaigns
To ensure your retargeting campaigns are effective, it’s crucial to measure their performance using key metrics:
Key Metrics to Monitor
1. Click-Through Rate (CTR): Measures the effectiveness of your ad in generating clicks.
2. Conversion Rate: Indicates the percentage of users who completed the desired action after clicking on the ad.
3. Return on Ad Spend (ROAS): Evaluates the revenue generated for every dollar spent on the campaign.
4. Cost Per Conversion: Measures the cost-effectiveness of your retargeting efforts.
5. Frequency: Monitors how often your ads are being shown to the same user to avoid ad fatigue.
Retargeting campaigns are an indispensable tool in the arsenal of a professional media buyer and ads manager. By targeting users who have already shown interest in your brand, you can significantly improve your conversion rates and maximize your ROI. Whether it’s through abandoned cart sequences, retargeting video viewers, or engaging past customers, a well-executed retargeting strategy can drive meaningful results for your business.
By leveraging the insights and best practices outlined in this comprehensive analysis, you can create highly effective retargeting campaigns that convert prospects into loyal customers. Remember to continuously monitor your performance metrics and refine your strategies to ensure sustained success in your digital marketing efforts.
I hope this blog serves as a great source of value for you and your brand. Feel free to contact me if you have any questions. I would be delighted to help you and your brand grow!
Bryan Thorpe
Founder & CEO
Cerulean Social