What is customer retargeting, and how does it work?
Customer retargeting is a marketing technique that aims to bring visitors back to a digital property (e.g. website or online store) with the business objective of completing a task such as, but not limited to, buying a product/service, opening an account, attending a webinar, or downloading a piece of content. It involves serving messages to people who have already shown an interest in the site or product. Retargeting campaigns are typically run through ad networks such as Google, Facebook, or LinkedIn Ads but can also be served through authenticated channels such as email and text messaging. To implement a customer retargeting campaign, businesses must install a Data Analytics solution or another Data Collection mechanism on their website or mobile applications. This mechanism collects data on visitors, including their web or mobile application browsing history. This data is then used to serve retargeting campaigns to the visitors such as when browsing other websites. For example, if someone visits a website but does not make a purchase, they may see an ad for the same product later while browsing another site. Customer retargeting can be an effective way to boost sales and conversions by reminding visitors of a product or service that they are interested in.
The benefits of customer retargeting
As any online marketer knows, getting customers to visit your website is only half the battle. Once they leave, it can be very difficult to get them to come back, especially when they don't leave an email behind. That's where customer retargeting comes in. By placing retargeting ads on other websites that your target customers are likely to visit, you can keep your brand top of mind and increase the likelihood that they'll come back to your site. And research has shown that it works: studies have found that people exposed to retargeting ads are more likely to revisit a website and make a purchase than those who aren't. So if you're looking for a way to boost your website's conversion rate, customer retargeting is definitely worth considering.
How to get started with customer retargeting
Many businesses struggle to find new customers, but the real challenge is keeping the ones you already have. Customer retention requires continuous effort, but it's worth it because it costs five times more to attract a new customer than it does to keep an existing one. That's where customer retargeting comes in. The goal is to win back customers who may have been inactive or at risk of churning. Getting started with customer retargeting can seem daunting, but there are a few simple steps for you to get started.
First, identify your target audience. Customer segmentation will be key here. Once you know who you're targeting, you can start to craft your message. What are the pain points that your target audience is facing? How can your product or service help? Keep your messaging focused and clear.
Next, choose your platforms. The most popular platforms for customer retargeting are Google and Facebook. Still, there are other options as well, such as LinkedIn for B2B use cases, and also using other channels such as Email, Mobile Push Notifications, and Text Messaging in case your visitors have shared this information with you. If you're unsure which platforms will work best for your business, try experimenting with a few different ones. I also recommend you look at Digital Experience Platforms and specifically Customer Data Platforms as they provide powerful capabilities around providing a Real-Time 360 Customer View and abilities to activate this data to run your retargeting campaigns.
Finally, create your retargeting ads. Again, focus on simplicity and clarity here. You want your ad to stand out, but you also don't want to overwhelm potential customers with too much information. A strong call-to-action is essential.
Customer retargeting can be an effective way to boost customer retention and grow your business. By following these simple steps, you can start seeing results in no time.
Top seven most effective customer retargeting campaigns
There are many customer retargeting campaigns that businesses can use to boost their sales and conversions. But which ones are the most effective? As I meet with several brands monthly, I would like to highlight seven campaigns to boost your customer re-engagement strategy and increase your bottom line.
1- Search retargeting campaign:
When it comes to online marketing, search retargeting is one of the most underutilized tactics. And that's a shame because search retargeting can be highly effective for brands. Search retargeting consists of targeting visitors who have previously searched for your product or service. The goal is to recapture the attention of potential customers who may have been interested in your brand but didn't follow through with a purchase. There are several benefits to using search retargeting. For starters, it's an efficient way to reach potential customers who are already interested in what you have to offer. And since they've already shown an interest in your product or service, there's a good chance they'll be more likely to convert than someone who has never heard of you before. Another benefit of search retargeting is that it allows you to target specific demographics. You can target people based on their age, location, gender, and other interests you might already know from them. This makes it easier to reach the right audience with personalized retargeting ads. Finally, search retargeting is a great way to improve brand awareness. When potential customers see your messages (whether these are ads, emails, texts, ...), it helps reinforce your brand image and increases the likelihood that they'll remember you when they're ready to make a purchase.
If you're looking for an effective way to boost your online marketing efforts, search retargeting is worth considering. By targeting ads to people who have previously shown interest in your product or service, you can improve conversions and drive more traffic to your site.
2- Browse abandonment retargeting campaign:
When a customer leaves your website without making a purchase, it's called a browse abandonment. And it's known to be a significant problem for businesses. But there's good news: browse abandonment can be remedied with retargeting. Retargeting is a marketing strategy that involves targeting messages to customers who have already interacted with your business. The goal is to bring these customers back to your digital property and put them back into a converting funnel.
Browse abandonment retargeting can be an effective way to recapture lost sales and boost customer retention and growth for your business. By putting these campaigns in place, you can see results quickly.
3- Cart abandonment retargeting campaign:
Cart abandonment is a widespread business challenge for online retailers. In fact, it's estimated that about two-thirds of all shopping carts are abandoned. That's a lot of sales that could be recovered with the help of a retargeting campaign.
Cart abandonment retargeting is an effective way to re-engage shoppers who have left items in their cart without completing a purchase. Retargeting messages are shown to customers who have visited your site but did not buy anything. This type of advertising can be very effective, as it reminds customers of the items they were interested in and encourages them to return and finish the purchase.
There are several benefits of using cart abandonment retargeting, including increased sales, improved customer satisfaction, as well as reduced costs.
4- Geofencing retargeting campaign:
Geofencing retargeting is a location-based marketing technique that enables businesses to target individuals who are not far from one of their business locations. This advanced method of advertising uses GPS or RFID/Beacon technology to create a virtual barrier or “fence” around a specific area, such as a store, restaurant, or convention center. Once someone crosses into the geofenced area, they are served with customized messages and offers that are relevant to them.
There are many benefits of using geofencing retargeting for businesses. First and foremost, it is an extremely effective way to reach customers who have already shown interest in your product or service. Geofencing allows you to target these individuals with highly relevant messages and offers, which can result in higher conversion rates and increased sales. Additionally, geofencing is a very cost-effective way to market your business. It requires low special equipment.
If you’re looking for an innovative and effective way to market your business, consider using geofencing retargeting. It’s a powerful tool that can help you reach more customers and boost your bottom line.
5- Out-of-stock retargeting campaign:
When a product goes out of stock, it can be frustrating for customers. They may have been looking forward to buying it, and now they have to go back to the search results page and try to find something else. This is where out-of-stock retargeting comes in.
Out-of-stock retargeting is a type of targeted message that shows customers ads for replacement products to those currently out of stock. This can be a great way to keep customers interested in your products, and it can also help them find something else that they may want to buy.
The main benefit of using out-of-stock retargeting is to help keep customers interested in your products. If they know that you will be showing them ads for products similar to those that are no longer available, they may be more likely to buy something from you in the future. Overall, out-of-stock retargeting is a great way to keep customers engaged with your brand and help them find something else that they may want to buy.
6- Replenishment retargeting campaign:
Replenishment or back-in-stock retargeting is a marketing technique that retailers can use to increase sales and profits. A back-in-stock campaign targets customers who have previously interacted with the retailer’s website or app, showed interest in a specific product that was no longer available then, and left without making a purchase. As this product becomes available again, customers are shown messages to incite them to come back to the retailer's website or mobile app and complete their purchase.
Many benefits can be seen when brands use this kind of customer retargeting campaign. First, increased sales by reminding customers of items they were interested in, but did not buy. This increases the chance that they will return to the site and make a purchase. Second, increased conversions by targeting customers likely to buy an item. Third, by improving customer retention as customers are reminded of the retailer’s brand. Lastly, reduced costs by targeting customers who have already shown interest in an item. This reduces the amount of money spent on advertising to potential customers.
7- No-show retargeting campaign:
A no-show retargeting campaign is a powerful way for businesses to reach out to contacts that have gone cold, or prospects they've missed an opportunity with. It is a particularly efficient campaign in the B2B market which consists of an automated sequence of messages that keeps your brand top of mind, and gives your contacts another chance at engagement.
A no-show retargeting campaign can be used in situations such as when you run webinars and want to follow up with attendees who registered but didn't attend. It can also be used when you have scheduled a call with a prospect who missed your meeting.
By maintaining contact with prospective clients through this tactic, businesses can stay one step ahead of the competition, while increasing customer loyalty and fostering relationships. With a no-show retargeting campaign, companies can bridge the gap between sales and marketing teams to ensure leads are never lost in the shuffle again. It's an innovative way to enhance your customer experience and build trust with potential customers.
In conclusion, customer retargeting is an effective and powerful way to keep customers engaged with your brand. Whether you’re using search, browse, cart abandonment, geofencing, out-of-stock, replenishment, or no-show retargeting campaigns, there are a variety of tactics that you can use to increase sales and foster relationships with potential customers. With the right strategies in place, you can ensure that you never miss an opportunity with a prospect again! So why wait? Start implementing customer retargeting today to get ahead of the competition!