High bounce rates can be very frustrating especially if you aren't sure why consumers are leaving your site. Retargeting is an advertising method that addresses this issue. Retargeting is simply a process that allows businesses to reengage previous site visitors by showing them relevant ad content after they have left a site.
When a potential customer visits your site, the retargeting provider places a cookie in their browser in order to tailor ad content to their interests. Ads for your product or services are displayed on sites they visit later. If you are looking for a more a more personalized way to reach your customers and increase lead conversions, then retargeting might be right for your business.
Increase B2B Lead Conversions
Potential buyers in the B2B market usually take the time to research and consider all of their options before taking action. Since the sales process tends to be longer in the B2B space, retargeting can be an effective tool for capturing and converting leads that may otherwise be lost. With such a long sales cycle, companies need to make sure that their brand stays in the front of the customer's mind even as they consider the competition. Just as you would spend time and resources to drive traffic to a landing page, you can use retargeting to help keep in touch with customers that may bounce from these pages. For example, a customer visits a site that provides tax services, but leaves after accessing a page for payroll processing. Later that day, the customer takes a moment to watch a video on YouTube and sees an ad for the same payroll processing services. Retargeting becomes an integral part in shortening and completing the B2B sales cycle.
Relevance and Personalization
Taking a random approach to advertising online rarely works. Retargeting is a more personal and relevant approach. Consumers tend to "window shop" as they surf the web. Sometimes they need to make a purchase immediately, but many times they are just looking around and gathering information for a future purchase. Perhaps a customer is looking to purchase a pair of headphones as birthday gift for a loved one. It's likely they will start looking about a month before making the purchase and will probably visit several different sites. With retargeting, after viewing a specific pair of headphones, the consumer will see ads for these headphones in their Facebook news feeds, before watching a video on YouTube, or even while researching another gift idea on a competitor's website. This serves as an effective and personal reminder to make the purchase.
Perhaps one of the best reasons to invest in retargeting is that it is cost effective and offers a better ROI than many other types of advertising online. Broad ad campaigns often end up eating up the majority of your marketing budget with very little return. Many businesses make the mistake of bombarding people with ads for products that they are unlikely to ever be interested in. Retargeting typically provides better conversion rates, more precise targeting, and increased brand awareness. You probably already invest time and money in getting potential customers to your site, why not complete the sales cycle?
Advertising online can be a risky and expensive endeavor. With retargeting, you have the advantage of knowing the potential client is already interested. On average, only 2% of consumers make a purchase on their first visit to a site. What are you doing to bring back the 98% of potential customers who don't? Retargeting could be a great addition to your company's current marketing efforts.
Whether you need help with an advertising campaign or simply looking for some brand guidance, our team is standing by to help! Send us a note, we can't wait to meet you and learn more about your business.