I’ve been planning something of a Sesame-Street-Special style presentation about Remarketing, and all that is good about it for a while now – not least because the extent of my family’s knowledge regarding my occupation is: “Oh, it’s something to do with cookies …”
The truth is, we’re are all very familiar with remarketing, but we probably don’t know that we are. It’s no coincidence that the fact you were looking at jeans on your lunch break is following you around the internet.
Perhaps a more appropriate title for this piece would have been: Remarketing: I Know What You Did in the Last 30 Days.
Maybe not quite so catchy.
We browsers are fickle folk. Some 98% of us leave a site without converting; a marketer’s nightmare. All that hard work down the drain, right? It doesn’t have to be – because with remarketing, that once-dejected website could see an 85% upswing in return conversions.
Not convinced yet? How about the fact that in 2014, retail sites averaged a 70% cart abandonment rate? Without remarketing, a mere 8% of those deserting customers will ever be back to shop again.
Convinced? Great. But what does it do exactly?
Let’s take utilities for example. A user logs on to a site, looks at the price plans, maybe reads a little into the switching process but doesn’t have their details to hand. They close the window and go on about their browsing business. As they do so, scrolling through news sites, blogs, classifieds, they begin to notice a number of ads for that same utilities company appearing. They switch to social media, same thing. The ads remind them of the latest offer, savings and prices – by now they’re thinking, I really must find that electricity bill. Before long, they find themselves, details in hand, switching utilities providers.
Remarketing can been seen to help guide customers along the funnel; essentially reminding them of the initial desire to purchase which brought them to the site in the first place.
As marketers, Remarketing makes a lot of sense. Someone who has been to your site before, is far more valuable than a complete stranger. You’re fishing where the fish are.
There are a number of platforms where you’ll get your own piece of the remarketing action; our personal favourites being Google Remarketing (Search and/or Display) and AdRoll premium remarketing.
Once you’ve picked your platform and got your Remarketing Pixel in place (basically your cookie jar for handing out to all your lovely visitors) you can start segmenting your users. This is when you can get very clever.
To begin with, you’ll be separating your Converters from your Non-Converters. Within your non-converters you can target users by any criteria you’d like. Categorised by the products they viewed, shirts versus shoes. Cart abandoners, did they get part of the way but chicken out and maybe need reminding of that great Free Delivery offer you have. Frequency – someone who visited your site 2 days ago is probably worth a whole lot more to you than a visit 2 weeks ago, or do people need time to think?
Similarly, you could get crafty with your converters segment. Could you cross-sell dog toys to your dog food customers? Encourage loyalty among your shoppers and get them coming back over and over. The possibilities are endless.
Speaking of said possibilities, remarketing is also helping us bridge the device gap – a must when you consider that more than 60% of online adults use at least 2 devices and a whopping 90% of transactions start on one devices and finish on another. Bringing your remarketing cross-platform can see as much as a 229% increase in conversions than desktop alone.
This is only just the tip of the iceberg. Remarketing is becoming even more sophisticated, with advertisers dynamically customised their ads to reflect each visitors user experience.
With the rate that it’s taking off and developing, it’s fair to say the best is yet to come in so far as Remarketing is concerned.
Are you on board yet?
Find out what remarketing could do for your business by getting in touch with the team at TinderPoint*!