What is Retargeting & Why is it Important for any Online Business?

If you’ve ever browsed online for a certain item, it’s almost guaranteed that you’ve seen retargeting before. You know when you search for something, then that item appears on every other website or social media platform you visit for the next few days? For example, maybe you’ve been searching for the perfect pair of boots gearing up for winter, and now you’re seeing winter boots everywhere you look. That’s exactly what retargeting is, and it’s one of the best digital marketing strategies you can use to make sales. 

By definition, retargeting is a marketing strategy that puts your product or service in front of people who have recently browsed your website (or certain items on your website) but didn’t purchase anything. As your customers see more of your product, they’ll be more likely to click on those retargeted ads to make the final purchase. This should be a vital part of your advertising strategy – here’s why. 

1. People become familiar with your brand

Brand recognition is crucial when it comes to building an online business. Once you get to the stage where you can start running retargeting ads, you’ve already worked hard to build a website, online presence, and brand you can be proud of. The goal is to get your brand in front of as many people as possible, and the more they see it, the more they’ll come back to purchase from you when the time is right. This is one area where retargeting becomes so valuable – as you keep showing your brand to your audience, they become more familiar with it and more likely to make a purchase. 

2. You can retarget very specific groups of people

No two internet users are the same, and it’s important to take that into account as you create your retargeting ads. First, think of the people who visit your site for the first time and stay for just a little while. After they leave your site, you may want to feed them ads of the specific products or services they viewed, general information about your brand, or even a discount code to use on your website. Next, think of the people who have one of your products sitting in their cart, but they clicked away before they made it to the payment page. You’ll want to show them the items in their cart so they go back and take the final step to purchase. And lastly, think of the people who have purchased from you before. Offering them discount codes or items they would like based on what they’ve already purchased are great ways to spend your retargeting ad dollars. 

3. Retargeting caters to people who are already interested

You can target initial audiences when you’re setting up ads, but there’s a huge benefit in retargeting because you know the people your ads are reaching are already interested in what you have to offer. They’ve already been to your site and maybe they even have something in their cart, so the chances of them making a purchase are much higher than someone who has never interacted with your brand before.

4. The stats are staggering

According to Thrive Hive, 2% of website users make a purchase on their first visit. They typically visit your site to see if you have what they need and to compare your products to other places before they commit to buying your product. But as you run retargeting ads, three out of five people will notice them, and 26% will come back to finish their checkout process. Additionally, retargeting brings a 147% increase in conversion rates. With these statistics, it’s clear that retargeting is worth all the time, effort, and money you put into it because the return on investment will be high. 

5. Retargeting can keep customers coming back 

One of the worst things you can do after making a sale on your website is to disappear from that customer’s internet world. You want to keep your audience coming back, and the best way to do that is to keep showing them why they should purchase from you again. Showing them discount codes, new products, and freebies can keep your customers engaged and build brand loyalty.

So to recap: retargeting helps your customers become familiar with your brand, helps the brand target very specific people who engaged with your brand, caters to people who were already interested and need a little bump to buy, keeps helping customers returning to buy, and the stats show that it works. If you need help getting your retargeting setup, a member of our team can walk you through the process and even install any of the tracking pixels/tags for free. Reach out today to a member of our team at info@uintalocal.com or you can contact us here.

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