Love it or hate it, Retargeting is taking more and more budget in digital media plans and there is a reason for it. According to a study by retargeting vendor Criteo, website visitors who are retargeted with display ads are 70 percent more likely to convert on your website.
Also Instapage states: For marketers, there may be no scarier statistic than this:
96% of visitors that come to your website are not ready to buy.
This means you’re likely only able to persuade 4% of traffic to buy what you’re offering the first time they arrive on your website. This persuasion must have a clear objective. Retargeting for the sake of retargeting with no strategy behind is pointless.
Those Post ‘Rona media plans may need to work extra hard in the rational behind the strategy. Hopefully there are small companies that are doing a stellar job using this tool. One of these strategies is using Retargeting as part of the Post Sale Strategy. I will share a recent example.
Last Mother’s Day I received a Pro cake decorator kit that I have been wanting for a while. I used it immediately. However my first experience was not as good as I expected. I was struggling to assemble the pastry bag. Some searching for tutorials later, for my surprise, apparently the company did retargeting to me. Very soon, it started showing me (everywhere) a 30 second video of how to assemble the bag. That’s a kind of retargeting that anyone would like, to fix a problem. To make the consumer experience a happy ending and hopefully a next buy. This was a wise budget distribution. I most likely recommend a consistent “Always on” strategy budget distribution rather than a 3 or 4 seasonal peaks.
What are your thoughts? Do you agree? Can you share similar or any other ways that Retargeting its been well executed? Join the conversation!
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