Ecommerce businesses are taking advantage of remarketing because retaining old customers is significantly more profitable than trying to attract new ones. That’s because returning customers have a higher conversion rate of 4.5%, more than twice as high as new customers (2.4%).
People who have already expressed an interest in your products can be targeted using remarketing. These audiences have the highest probability of purchasing from you. E-tailers can utilize remarketing in various ways, and knowing how it works is essential if you want to make the most of it.
We’ll help you learn more about remarketing, its types, why you should opt for it, and some insightful remarketing statistics for 2022 that can enable you better understand why this a powerful tool that you want in your arsenal.
What Is Remarketing?
The main questions at had are: what is retargeting/what is remarketing?
Remarketing is a type of internet advertising that focuses on attracting customers who have already demonstrated an interest in a company’s mobile application or website.
Using this strategy, you may reconnect with past customers and reach out to potential customers who have shown interest in your products but have not yet purchased a product.
To use remarketing, you collect information on people who have visited your site and then use that information to send relevant adverts or emails to those people in the future.
How often have you received a follow-up email after purchasing something online? It’s common for these emails to thank you for your interest in their products or making a purchase and then recommend other things that you might like. This is remarketing.
Types Of Remarketing
Let’s take a closer look at remarketing strategies that work best. Remember, that these strategies are soley based on the user experience and your ability to attract them to back to your money site to earn a conversion.
➡️ Email: Email retargeting is an effective way to keep your business in the minds of your customers.
This channel works well for retargeting because it focuses on clients who have already provided you with their contact details. This indicates that they are already aware of your products and are therefore more likely to make future purchases from you.
This remarketing method is very cost-effective because it uses the information you already have and can conveniently be put together.
This data can be utilized to better target adverts and evaluate the results of marketing initiatives for your company.
An important reason for the popularity of social media for remarketing is the large and active audience it provides. Customers are likelier to notice your brand if it is featured prominently on social media.
➡️ Search Engine: The term “search retargeting” refers to a form of sponsored advertising that follows users while they run Google searches for specific keywords.
These Google ads aim to appear at the top of search engine results pages (SERPs). The advertisements utilized for search remarketing look similar to typical search results but are frequently displayed at the top of the page with the term “Ad” next to them.
Using Google AdWords search advertisements is an excellent method to get the most out of your money.
➡️ Display Ads: Many people use display remarketing to target their customers. Using the Google Display Network, these advertisements can be seen on websites that aren’t your own.
A user visiting a Google ad-supported website may see advertising based on their Google searches.
Using lists of relevant keywords and phrases, advertisers can better target potential customers actively looking for their products and services on search engines like Google.
➡️ Dynamic Ads: Dynamic remarketing shows ads tailored to the potential customer’s specific interests. These ads can target customers who have visited specific product pages on your site.
Each viewer sees a different dynamic ad; this personalization is a terrific strategy to boost engagement and conversions.
A product or service in an ad is more likely to catch your eye than an ad promoting a different product or service. Personalization pays off well in marketing.
Remarketing vs. Retargeting
It would be best to use remarketing and retargeting strategies to connect with your target audience. It’s important to note the crucial variations between the two.
Remarketing
Remarketing focuses on people who had previously engaged with your application or website, such as when they purchased something, signed up for the service, or subscribed to a mailing list.
Email remarketing is used to re-engage visitors who previously visited your site. A perfect example of this in motion would be sending a cart abandonment email to a registered visitor who added a few items to their shopping cart but never completed the sale.
Retargeting
In retargeting, your marketer embeds a small code on your site or app and places a cookie on the user’s smartphone or computer. This lets you know what pages they viewed, what products they saw, and how long they stayed on your application or website are all stored in this cookie.
Paid adverts target users who have already visited your social media and website. In a nutshell, remarketing and retargeting are nearly identical, with exception that one method uses existing information from opt-in visitors and other is using cookies and caching to target bounced visitors.
15 Insightful Retargeting & Remarketing Statistics
There are numerous benefits of running remarketing campaigns. Here is a list of statistics on remarketing to help you understand how you can benefit from remarketing and retargeting.
➡️ A warm lead is far simpler to persuade than a cold one by a factor of 9/10. (I-COM)
➡️ One in ten businesses uses remarketing to target their competitors’ clients. (Aspedia)
➡️ New customer acquisition costs five to 25 times as much as selling to an existing customer. (HarvardBusinessReview)
➡️ One remarketing campaign can boost conversions by as much as 161%. (Google)
➡️ 78.6% of customers say they’ll only respond to offers relevant to their previous engagement with a company. (PRNewswire)
➡️ The performance of remarketing is three times better than that of non-personalized re-engagement. (Growth Badger)
➡️ A remarketing campaign helps customers better understand your brand, as 97% of visitors who visit your site for the first time are likely to leave without purchasing anything. (MailChimp)
➡️ Your click-through rate can improve by 180% if you use remarketing. (I-COM)
➡️ Ads that use dynamic retargeting can boost revenue by 30-40%. (PPCexpo)
➡️ Retargeting programs outperform display/banner advertisements ten times over. (B2C)
➡️ A survey found that 49%of consumers believe their shopping experience would be more enjoyable if e-tailers gave special offers based on their previous purchases. (Google)
➡️ Due to remarketing, brands such as Zendesk and Intel have raised their return on investment by more than 1000%. (Growth Badger)
➡️ When Sierra Trading Post began using dynamic remarketing, they saw a 400% conversion boost. (Google)
➡️ More than three times more people engage with Facebook remarketing than with standard Facebook ads. (WordStream)
➡️ 58% of smartphone users are more inclined towards a company if its mobile site or app remembers who they are and what they’ve done in the past. (Google)Conclusion
The Final Scoop
Remarketing can be a powerful tool for increasing sales and profits, but it must be done correctly. Implementing this process helps you reach the intended audience while also accomplishing organizational goals.
In addition to increasing customer engagement and brand awareness, it can impact the CTR and CPC substantially. You can use remarketing to keep your current customers happy with a little push.
Need Even More Tips?
We’ve got you covered. Take a read our related guide: Use These Awesome Remarketing Facts to Power Your Reach.
Or have a look at the illustrated infographic we’ve included below to better understand how you can use the power of remarketing to lure visitors back to your online store and earn second-chance sales.
