Remarketing is a tactic that involves showing ads to people who've visited your website or used your mobile app. This strategy is a particularly cost-effective way to increase your sales conversions because you're reaching out to customers who have already expressed interest in your products or services.
"Remarketing helps to encourage those lost conversions to come back," said Jeni Garrett, founder and CEO of The Woodhouse Day Spas. "It is great for small business owners because it has a lower cost per acquisition, so with the impression conversion rates, you are able to move through your sales cycle fast and for a much lower cost."
"Remarketing is so powerful because it allows marketers the opportunity to continue the conversation that otherwise may have only been a 30-second decision on the part of the consumer," said Jason Hobbs, founder of digital marketing company The Found Group. "When someone comes across the website of a small business, the potential consumer's initial experience may not be enough for him or her to make a decision. That's where remarketing comes in."
It used to be that only large, data-centric organizations were able to invest in data mining, said Raj Beri, business head of Uber India. But small businesses across all industries now have access to the tracking tools necessary to take advantage of digital remarketing.
"With simple-to-use third-party tools and services available now from companies like Google, it has never been easier for small players to set up their own remarketing campaigns," Beri told Business News Daily.
There are different strategies for remarketing, and each one has its own benefit. For example, standard remarketing through Google AdWords shows ads to your past visitors as they browse Display Network websites and use Display Network apps. Dynamic remarketing, on the other hand, uses ads that include products or services that people have viewed on your website.
If you want to launch a remarketing campaign, here are three tips to make it successful.
1. Spread your campaigns across multiple channels.
Most businesses choose a specific channel for their remarketing campaigns, such as display, banner, Facebook or video ads, said Mike Hans, founder and CEO of Forge Group. But consumers aren't on just one channel. Just as in any other marketing efforts, it's important to catch the consumer where they are. This means spreading out across a variety of channels, including (and perhaps especially) mobile devices.
2. Segment your remarketing lists.
Hobbs recommended segmenting your list of web visitors by behavior for an even more targeted remarketing campaign. For instance, if a consumer gets to the last page of an ecommerce checkout process and doesn't complete the purchase, that person should be added to a different segment for a different messaging set than a visitor who only visited the homepage.
"This consumer was very interested in buying something, but decided not to at the last second, perhaps to do a little more price comparison-shopping," said Hobbs. "That should inform you to run ads that address price-matching guarantees, which will put people back into your ecommerce system so they don't buy the competition's product instead."
3. Don't be afraid to test and fail.
There's no straight line to success, Beri said. What you thought at the outset about your product and how people use it will change daily. They key is to "fail fast" – learn from what worked and what didn't, and keep improving on your product and business model.
Additional reporting by Nicole Fallon. Some source interviews were conducted for a previous version of this article.