The Wonderful World of Remarketing
So what is Remarketing?
Remarketing is a simple way to target individuals that have previously browsed a website within a certain period of time. This works by capturing data and sending emails to further prompt a purchase from the potential customer. Remarketing comes with a multitude of benefits which can include, increasing conversion rate, improving awareness and lowering online advertising and cost per acquisition costs.
Types of Remarketing:
There are various types of remarketing and it really depends on the industry and campaign-specific goals that separate these. The benefits of these campaigns are to:
Inform and retain customers
Upsell current customers
Attract potential customers back to convert
Within these types of remarketing, we can also segment further to define the type of customers such as:
General Visitors (anybody who visits the site)
Specific Product Visitors (users looking at specific products)
Abandoned Shopping Cart Visitors (users who add to their basket and leave the site for whatever reason)
Previous Customers (targeting customers who visited within a certain time period)
Difference between remarketing and retargeting
Although both remarketing and retargeting do in fact share similar objectives and goals, there is a misconception that these both share a meaning. It is important to distinguish the two, as there are some vital contrasts, that if you’re not aware of them; can actually hinder your goals if not thought out thoroughly.
Retargeting: This is understood to be online ad placements and display ads that target users that have engaged with your site in a specific way, for example, if they’ve been on a particular product page ‘jumpers’, from this a cookie is set in their browser and you can then use this information to retarget using this data, visitors will see banners on regularly visited sites, based on the collected information.
Remarketing: A focus on re-engaging users is a better way to describe remarketing, this can be done through emails sent after visitors add items to their wishlists to abandon their basket. Remarketing is more of a reminder and can aid to increase conversions and engage potential customers in a more meaningful way.
To conclude, although there are various shared goals between remarketing and retargeting such as to increase conversions, the difference is focused intently at the strategy. Retargeting focuses on online paid advertising and can target a mass amount of individuals, whereas remarketing is concentrated on users who’ve already had interactions with your website, is a lot further down the sales funnel and are a lot more closely controlled, through forms such as emails which could be argued to be more personal.
Popular strategies for Remarketing
Re-engage visitors with abandoned shopping basket emails
Reach customers within a certain time period after they have purchased
Cross-sell or up-sell
Extend the membership duration to reach more potential customers
Simple and advanced Remarketing strategies
There are numerous strategies both advanced and simple here are a few of each to get you started:
Add all site visitors to your target list.
Analyse and use customers' habits. For example, if somebody buys chocolates every mother’s day, odds are they will probably be looking for some this year too or something similar. Make sure you engage repeat purchases, whether it’s seasonal or simply on occasion.
Encourage loyalty for returning customers by sending voucher codes and exclusive discounts to ensure your customers keep on coming back!
Use geo-targeting and segment your audience, to further increase the conversion rate. E.g send store location emails to people within a certain radius.
Tagging the correct landing page is another fundamental way to drive sales, the page that is tagged should be directly related to your specific campaign. This will improve the bounce rate, and increase the click-through rate and conversions.
Test, test and test again. When sending out an email or simply targeting a new segment, the best way to see if this works is to A/B test this. For example, if you are testing out a new design with a specific email segment, send it to both and switch to the more successful campaign to improve ROI.
To conclude, remarketing focuses on interacting with customers that have already previously been on the website via email marketing, this can create a sense of loyalty with consumers and also entice them to keep coming back to the site.
When comparing retargeting and remarketing there is obvious overlap but differences become clear when comparing. Retargeting is really focused on paid advertising (and can look completely different to a broad range of individuals).
The answer to successful ROI marketing is to run both campaign types, rather than one or the other! Both remarketing and retargeting are highly effective in increasing eCommerce conversion rate and should be a vital part of your marketing strategy.
Why choose Remarkable Commerce?
Are you looking at optimising your own remarketing strategies? At Remarkable Commerce, we have some of the brightest sparks in the industry to help assist in your company’s vision.
Visit our website and contact us today to find out what services we have to offer!