With just a fraction of shoppers making an online purchase the first time they visit a store's website, it is critical for businesses to make sure they get them to come back.
Businesses that aren't employing retargeting strategies are hurting their bottom line, said Sean Foote, marketing coordinator at dedicated server and cloud hosting provider SingleHop.
"Retargeting is the act of re-marketing (through banner ads) to visitors that have left one's website," Foote told BusinessNewsDaily.
While businesses might dump money into marketing efforts to drive traffic to their site, such as through display advertising, email marketing, social media promotions, PPC advertising, content generation and search engine optimization, Foote said companies can't forget about the effort it is going to take to keep targeting customers if they don't buy something on that first visit.
Foote said when a shopper visits a site, businesses need to tag them with a cookie that allows the company to see the types of items the consumer was looking at. Based on that info, businesses can use more direct advertising methods to try and get those shoppers back.
Retargeting not only helps businesses segment their online traffic, but it keeps relevant offers and messaging in front of the most targeted and qualified audience they could wish for – those who have already seen their brand and value proposition, Foote said.
He offers businesses four tips for trying to successfully retarget their Web visitors.
- Brand awareness: Businesses need to stay in front of their audience with more passive messaging to help build credibility in the brand and to keep them coming back over time.
- Recapture funnel bounces: Businesses need to keep track of who has abandoned their online shopping cart in order to bring them back with enticing offers that capitalize on impulse.
- Combine high intent and "whale" hunting: Businesses should start with more aggressive promotions and messaging, such as discounts and coupons. Then, over time, they should push more value-driven messaging, like customer service and differentiators.
- Expand to Facebook: Businesses should consider buying ads via Facebook Exchange. This will allow them to retarget a potential or existing base through the news feed and side feed on Facebook. This effectively gives businesses an additional presence to passively or aggressively market their brand.
Overall, Foote said retargeting allows businesses to maximize their entire marketing budget and stay in front of shoppers after they leave the online site for a very low cost.