As stated in the Enterprise Guide to Global Ecommerce, international eCommerce sales are growing by leaps and bounds, with an expected increase from $1.3 trillion in 2014 to $4.5 trillion in 2021. For any online business ideas, that massive opportunity is too big to ignore. However, every day, nearly 70% of potential e-commerce sales don’t make it through purchase, which implies that your sales numbers may only be one-third of what they could potentially be. So, the question is, how do you position your online store to get part of revenue?
If you are looking for a strategy that targets people in-between decisions, the uncertain ones, the window shoppers lingering around your eCommerce site long enough but haven’t yet opened their wallets; you have come to the right place. In this post, we will guide you to employ the retargeting strategy, which is a perfect solution to increase our site conversion and boost sales.
Did you know that 96% of visitors to your website aren’t ready to buy anything, at least for their first visit anyway? Yes, that’s right. What this means is that you can only expect to persuade at least 4% of your traffic to purchase your offerings the first time they set foot on your site or landing page.
That’s quite a significant chunk of potential customers that you’re losing out on! The good news is that there are ways to bring back these lost statistics and perhaps encourage them to buy the second or third time. This is where retargeting comes in.
>> Read our Marketing for Ecommerce Guide
Now, grab a pen, a piece of paper, a cup of coffee, and prepare for the sales improvement that you are about to experience.
Retargeting Advertising Key Takeaways
If done right, retargeting can:
- Reduce cost per impression, thanks to precision targeting.
- Improve conversion rates and improve ROI.
- Effectively position your brand at top-of-mind. If your customers know you’re around, they’ll remember the next time they’re looking to purchase that product.
What is Retargeting?
Retargeting can be defined as a form of online marketing used to remind your target customers about your brand or products and then take action such as purchasing or subscribing even after they leave your website. Looking at the statistic above, retargeting is designed to help these companies reach the remaining 96% or so of users who did not convert right away.
Retargeting is born as a tool to help companies reach potential prospects.
Importance of Retargeting
There are many reasons why people who delve into e-commerce business would want to go for remarketing or retargeting. Let’s take a look at some of the benefits that remarketing can offer you today.
It Improves Brand Awareness
Simply being exposed to your target audience is a powerful concept. The more a person sees your brand and name around, the higher the chances they will choose you. The reason for this is straightforward: they are more aware of you than others – making you more trusted in their eyes.
Many consumers who search for products online aren’t ready to buy right away. But if they are already familiar with a particular company, and know what they offer, there is a better probability that these people will convert into paying customers.
You Get Better Conversion Rates
When you can place yourself in front of users for the second time, you have a higher likelihood that they will convert into customers on the second pass. Retargeting lets you re-engage with people who are already aware of your brand.
Perhaps a person has checked out your About Us or Home page or even added something on their cart, but leaves without buying anything. Serving them retargeted ads will give you more chances of that individual completing their purchase.
You Can Promote Other Items
Users can tailor their retargeting ads to be quite strategic. For instance, a person that has visited your home page but was not able to convert can be shown a similar ad that shows other products in your inventory that may interest them. This can work quite well especially when you have other goods that match the search history of a potential customer
How does retargeting work?
Retargeting works in such the following way. A small and unobtrusive piece of code, known as a pixel, is placed on your website. Whenever a new user visitors access your site, the code drops an anonymous browser cookie. After that, when your cookied visitors browse the Web again, the cookie will let your retargeting provider know when to serve ads, ensuring that your ads are served only to people who have previously visited your site.
When does retargeting work?
Some people misunderstand that retargeting is about to drive more traffic. Conversely, retargeting can help to increase conversions, but it can not drive more people to your site. That means this modern marketing tactic focuses on people who are already familiar with your brand and have recently demonstrated interest.
Needless to say, retargeting is one of the ultimate solutions for branding and conversion optimization. However, it will work best in cooperation with other inbound and outbound marketing strategies. To find success with the retargeting strategy, at the same time, you need to use one or more tools to drive traffic and apply your retargeting method to get the most out of that traffic.
Retargeting works at its best with the people who have already entered your sales funnel process. Therefore, to maximize its effectiveness, we need to identify the right audience to send the right
message. Research says that retargeting can cause nearly 26% of users to return to complete check-out processes.
There are three types of retargeting
- Site targeting: When users visit your shop, they will immediately have ads following them
- Dynamic targeting: Send specific ads to visitors who have accessed particular pages
- Email targeting: Send personalized or autoresponder emails based on the customer’s interaction with your shop or with other emails.
Top Platforms for Retargeting Ads
Now that you’ve been acquainted with retargeting ads, there’s no doubt that they indeed work. It’s sensible to promote your shop to those consumers that have already shown interest in a product you offer.
With that said, let’s now move on to the best platforms that you can leverage today for your retargeting campaigns.
Google is truly a search giant and a powerful platform to do retargeting. They describe their remarketing service as a means to show ads to people that have visited a site or even used a mobile application. Their retargeting capability allows e-commerce stores to reconnect with their potential buyers even after they have left by way of showing ads that are relevant to them.
When you use its ad service, Google AdWords, you can create lists of targeted individuals. These can be people that have added your product to their basket but never completed the checkout process. A huge benefit of using Google Ads is that it has quite an ideal success rate with regards to ROI.
There are several types of retargeting being offered by Google Ads today:
- Standard – these ads show up for previous site visitors whenever they browse the Web
- Dynamic – this type of ad makes your content more relevant to people by showing them certain products that they have already seen at your site
- Remarketing lists for search ads – whenever users search Google for a product, the search giant displays your ad
- Video – ads show up to people once they have watched your videos on YouTube or other channels
Another platform that you can rely on when it comes to retargeting is the social media giant. Its significant reach makes the platform an ideal place to do retargeting – especially since it has a billion active users and counting.
An extension of the popular Facebook Ads is the platform’s very own Customer Audiences. It works by making a Facebook pixel that users add to their site, which then lets them build their custom audience. Furthermore, this allows them to create lists intended for particular sets of audiences that are based on the pages they visit on your site, or from an email subscription list.
Since Instagram is owned by Facebook, it’s only right that they also use an excellent retargeting system. The social media network has more than 300 million users and is being used even by famous celebrities who then share stories and images to their followers.
Instagram continues to grow in popularity, so it only makes sense that you should check it out as a retargeting platform. It works pretty much like Facebook ads where you set up an account, target an audience, and launch your campaign.
With the retargeting solution offered by Twitter, you simply install a Twitter pixel on your website, so it collects cookie IDs from your visitors. This then matches them to users on Twitter. Its Tailored Audiences may be used in a few ways.
- Lists – you can use email addresses or Twitter handles to target specific users
- Web – this lets you focus on people that have visited your website and is also enabled via the Twitter’s website tag
- Mobile apps – this uses the data gathered from mobile app user activity
There are several solutions available with ReTargeter, including Web, Facebook, Audience, CRM, Dynamic Retargeting, as well as Search options. Based on the ReTargeter site, they provide users with the best technology to help brands reach the traffic that they fail to convert.
The platform works by putting a pixel on your site so it can identify users and then target them with ads from your business as they browse the Web. ReTargeter focuses more on the major sites that bring in more than 30,000 unique visitors every month. They also prioritise bigger marketing budgets, so smaller business that wishes to delve into retargeting may want to start with the more affordable choices first.
The pride of AdRoll sits in its capability of offering a wide variety of digital marketing techniques to its users. These tactics include connecting with e-commerce sites such as Magento and Shopify, as well as marketing tools like Marketo and MailChimp. AdRoll also lets you bring back people via abandoned shopping carts while also uses display ads as a reminder to people who visited your website.
The technology behind AdRoll is quite impressive: boasting a processing power of 34 million signals into 2.5 million marketing predictions every second. Furthermore, AdRoll easily integrates with Facebook, Google, and many other marketplaces and exchanges for driving conversions.
With Perfect Audience’s retargeting capability, you get mobile, dynamic, web, and Facebook retargeting features. Installing the platform’s tracking code will let you get started. Users can gather information such as on-page and website visitors, people that clicked on an event, or individuals who accessed your emails. Perfect Audience also works well with popular networks like Google, Facebook, Yahoo, Twitter, and more.
Although not as popular, Criteo offers a retargeting solution that has been the favourite of companies like Sony and BMW. The platform provides retargeting solutions that have access to 16,00 publishers as well as a high-quality inventory. The networks that you can connect with it include Instagram, Facebook, and advertising through Google.
Last but not the least is Sitescout, which works by adding a pixel to your website or landing page to develop your audience list. The platforms work best when used by businesses that are capable of generating big audience lists.
Six tactics to boost your eCommerce sales with retargeting
Create content retargeting
Not everyone who lands at your website is ready to make a purchase. However, there is a good chance of purchasing after customers get a comprehensive understanding of your items through your reliable and useful content.
We can say that content retargeting is an excellent way to put your brand back at the front of a person’s mind and encourage them to come back to your website. Rather than directing prospects to the bottom of the sales funnel, the goal here is to educate them about your product, brand, or service to nudge them closer towards conversion.
No matter what kind of content you provide, a blog post, or an invitation to exchange email for a free ebook, make sure that you are providing highly valuable and relevant content to hat a user has already engaged with at your website.
Use dynamic retargeting
Based on the concept of personalization, dynamic retargeting is used to send ads that show customers specific products they have previously looked at and had an eye on.
This popular marketing strategy not only helps to generate more eyes-catching ads that people are more likely to look at and click but also presents a vivid image of brand identity instead of boring static product images.
Use video retargeting
Statistics show that 64% of people are more likely to purchase after seeing video ads. Therefore, using videos is an excellent way that completes your retargeting strategy.
Consider starting your retargeting strategy on Youtube, a powerful platform with an enormous number of audiences. If you want to make professional and stunning videos without having to hire a team, you can choose among plenty of useful tools such as Videoshop, Magisto, etc.
Try social retargeting
Today, social platforms and other social selling apps are powerful tools which helps online merchants make more money. With approximately 3 billion combined monthly active users, it is obvious that businesses can gain a massive benefit from integrating social media retargeting into their marketing strategies. Capture more sales and build relationships with shoppers after they have left the site.
- >> How To Create Relevant Social Media Content
- >> Why We Recommend Pinterest as a Traffic Focus for Ecommerce
We have summarized four strategies for creating a highly effective social media retargeting campaigns:
- Target specific audiences
- Simplify ad messaging and A/B test
- Use smart software to keep track and analyze retargeting strategies
- Time campaigns based on your goals
Use retargeting apps
Now, if you find none of the above-suggested tactics seem to be workable for your marketing strategy, why do not you try to use retargeting apps as a good alternative?
Mobile app retargeting refers to ad campaigns that target people who have previously visited your mobile app. Based on specific mobile user behavior, you can serve personalized ads to encourage users to drive more engagement, boost user retention, and increase down-funnel conversions through these apps.
Here are some of the highlight features that you retargeting apps benefit your site:
- Attract new customers by displaying products ads in partner stores
- Gain more leads with personalized popups
- Re-engage past visitors by sending newsletters
- Track potential customers
- Automatically adjusted and optimized campaign, etc.
However, there is no size for all, and possibly, there is no single app that can cover all of the stunning features without any limitation. Therefore, you need to find out the most suitable app among the hundreds available on the market. If your business base on Shopify, you might be interested in the list of 14 best Shopify retargeting apps, which are thoroughly reviewed by Avada eCommerce experts.
Try abandoned cart retargeting
Finally, we can not finish our list without mentioning the most well-know form of retargeting – abandoned cart retargeting. With 66% of consumers abandoning their carts, abandoned cart retargeting gives you the ability to retrieve back some of that lost revenue by reminding people of the product that they added to their cart on your website.
Sending emails is a typical way of retargeting customers who already bounced from the website before finishing the sale. We would say that sending emails is a good way if customers have got all far enough in the order process. However, with visitors who just have a quick look at your items without intent to purchase, retargeting email is not feasible at all. Perhaps your email will go unnoticed in a crowded inbox. In such a case, we recommend using the web push, which will deliver your message instantly to a person’s mobile or desktop device, ensuring they see it right away.
The chances of people opening and email after a purchase is 50/50, so after someone purchases you should always send them from the shopping cart confirmation to a thank you page. If you craft the page to showcase most popular deals, discounts and high converting products you will increase your chances of selling more product to a now warm customer.
Depending on your target customers and business case, you can choose one or both methods recommended. But still, we think that abandoned cart retargeting tools may help you take off the hardship on the way. Some of them drove our revenue sky-high. Others cost us tens of thousands in lost revenue. Learn from our hard-won experience on which tools can be trusted.
Retargeting is an essential aspect that e-commerce businesses should start leveraging today. Its ability to bring back people and increase the chances of converting them to customers is highly sought after. Remarketing is truly a solution that can help you reach your target audience and improve your bottom line.
Retargeting, by itself, is already highly effective, but every marketer in eCommerce knows that careful adjustments and a creative strategy can help you continually increase conversions. We hope that you have got a lot of flexibility with techniques to elevate eCommerce sales with retargeting after reading our blog post.
If you are looking for help with your e-commerce retargeting needs, we at Be Media are here to help. Contact us now and find out how we can be of service!
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