Websites using Retargeted

Okay, let s break down Retargeting with an overview, revenue implications, alternatives, pricing models, and customer care considerations:

1. Retargeted Overview

• What is Retargeting (also called Remarketing)? Retargeting is a digital advertising strategy that focuses on showing ads to people who have already interacted with your brand in some way, typically by visiting your website or engaging with your content. It s about re-engaging potentially interested customers who haven t yet made a purchase or taken a desired action.
• How it Works:
  • Tracking: A small piece of code (a pixel ) is placed on your website. This pixel tracks visitor behavior, such as pages viewed, products browsed, items added to cart, etc.
  • Audience Lists: Based on this tracking data, you create audience lists of people who match specific criteria. For example, users who viewed the product page but didn t add it to the cart.
  • Targeted Ads: These audience lists are then used to show display ads (banners, images, videos) to these users as they browse other websites and social media platforms.
• Key Goals:
  • Increase Conversions: Bring back users who showed interest but didn t convert, prompting them to complete a purchase or action.
  • Boost Brand Awareness: Keep your brand top-of-mind for users who have already engaged with it.
  • Reduce Cart Abandonment: Target users who added items to their cart but left without checking out.
  • Cross-selling/Upselling: Show ads for complementary or higher-priced products to existing customers.
• Types of Retargeting:
  • Pixel-Based Retargeting: The most common type, using a tracking pixel to build audience lists.
  • List-Based Retargeting: Uploading customer email lists to platforms like Facebook or Google Ads to target existing customers or leads.
  • Search Retargeting: Targeting users who have searched for specific keywords related to your products/services.
  • Engaged Retargeting: Targeting users based on interactions with social media content, videos, or email newsletters.
• Platforms: Common retargeting platforms include Google Ads, Meta (Facebook and Instagram) Ads, AdRoll, Criteo, and others.

2. Revenue Implications of Retargeting

• Increased Conversion Rates: Retargeted ads are often seen as more effective than broad-reach advertising because they target a more qualified audience who have already shown interest. This leads to higher conversion rates (more sales or desired actions)
• Higher ROI (Return on Investment): Since retargeting converts better than general advertising, the ROI can often be significantly higher. You re spending advertising budget on people who are more likely to purchase.
• Reduced Customer Acquisition Costs: By re-engaging potential customers, you reduce the cost of acquiring new customers. You re maximizing the value of the traffic you ve already generated.
• Increased Average Order Value: Retargeting can be used to cross-sell or upsell to existing customers, leading to higher average order value.
• Improved Customer Lifetime Value: Retargeting keeps your brand top-of-mind, potentially leading to repeat purchases and increased customer lifetime value.
• Sales Recovery: Retargeting can help recover abandoned carts, bringing back potential revenue that might have been lost.
• Faster Sales Cycles: Retargeting can move leads through the sales funnel more quickly by consistently showing relevant messages.
• Potential Revenue Losses (if poorly executed): Overdoing retargeting can annoy users. Bad ads, poor creative and targeting can lower ROI.

3. Retargeting Alternatives

• Contextual Advertising: Instead of targeting based on past behavior, contextual ads are placed on websites that are relevant to your products or services.
• Search Engine Optimization (SEO): Optimizing your website to rank higher in organic search results can attract customers looking for your type of business and/or products.
• Content Marketing: Creating valuable blog posts, articles, videos, and other content can attract potential customers and build brand awareness, pulling customers through the funnel rather than pushing ads.
• Email Marketing: Building an email list and sending targeted newsletters and promotions can reach potential and current customers directly.
• Social Media Marketing: Engaging with your audience on social media through organic posts, contests, and community building.
• Influencer Marketing: Partnering with relevant influencers to promote your brand or products.
• Affiliate Marketing: Partnering with websites or individuals to promote your products and earn a commission on sales.
• Traditional Advertising: TV, radio, print, and outdoor advertising may be more relevant for some businesses.
• Conversion Rate Optimization (CRO): Focusing on improving the experience on your website to make sure users are able to find what they re looking for and make it easy to convert.

4. Retargeting Pricing

• Cost Per Click (CPC): You pay each time a user clicks on your retargeting ad. Common with Google Ads and other PPC platforms.
• Cost Per Mille (CPM): You pay for every 1,000 impressions (times your ad is shown). Useful for awareness campaigns, often used for display networks.
• Hybrid Models: Some platforms offer a combination of CPC and CPM, or a performance-based pricing model that takes conversion into account.
• Platform Fees: Some platforms charge platform fees or require minimum ad spend.
• Factors Influencing Cost:
  • Industry: Highly competitive industries usually have higher CPCs and CPMs.
  • Audience Size: Targeting small, niche audiences may be more expensive.
  • Ad Quality: High-quality ads are often more effective, potentially resulting in a better cost-per-conversion.
  • Bidding Strategy: Your bidding approach can significantly affect your pricing.
• Budget: Setting a realistic budget and monitoring your spend is crucial.

5. Retargeting Customer Care Details

• Clear Messaging: Ensure that your retargeting ads offer value and are relevant to the customer s past interaction. Avoid overly aggressive or annoying messaging.
• Frequency Capping: Set limits on how many times a user sees your ads to prevent ad fatigue and annoyance.
• Audience Segmentation: Segment your audiences to show more relevant ads. Show different ads based on different stages of the sales funnel.
• Exclude Converted Customers: Stop showing ads to users who have already completed the desired action to save money and avoid frustrating customers.
• Landing Page Optimization: Make sure your landing page is optimized to match the messaging of your retargeting ad, making it easy for users to convert.
• A/B Testing: Continually A/B test different ad creatives, copy, and targeting to optimize your performance.
• Opt-Out Options: Always provide users with a way to opt-out of your retargeting ads. This complies with privacy laws and is respectful to potential customers.
• Transparent Data Practices: Be transparent about the data you collect and how it is used for retargeting.
• Provide Support: Customers might have questions about your retargeting practices, so have clear FAQs or support options on your website.
• GDPR/CCPA Compliance: Ensure your retargeting efforts comply with all relevant data privacy regulations (GDPR, CCPA, etc.).

In Conclusion:

Retargeting is a powerful tool for digital marketers, but it requires a strategic approach. It s crucial to have a clear understanding of your target audience, goals, and budget. By paying attention to customer care details and continuously optimizing your campaigns, retargeting can be a very effective way to increase revenue and brand awareness. It is also essential to consider your alternative options as part of a diverse approach to marketing.