Hello, and welcome to Episode 33 of Aftershock Weekly. This week I’m going to talk about something that we’ve all been through, and it’s called Retargeting—or Remarketing is another word for it. So, let me give you a scenario: you go on Amazon.com, you find something you like, you put it in the cart, and the next thing you know, you leave for whatever reason. Life happens, you know, your dog barks, you go feed him, you have to leave for work, whatever that is. But now, you’re sitting there on your phone, you’re looking at your computer at work, and you’re seeing ads of what you just put in the cart the day before.
You ever had that happen to you? Well, that is remarketing at its finest. What it is is a reminder to you that hey, you showed intent because you’re on this webpage, now we want to retarget you. And I will tell you that people are starting to be aware of remarketing, but it’s still a very effective practice. And here’s why it’s very effective: number one, you showed intent. You went to a webpage. Maybe you’re doing a search on joining a local golf league. And you did the search, you found a couple in your area, and you didn’t fill out a form. Well, now you start seeing ads about that local golf league, just to get you back to the site, because you showed intent, you were there, and you know they know you were interested. It’s a very specific type of targeting.
Let’s talk about a few reasons why people would retarget. First, to acquire customers. Fifty-six percent of people that are using retargeting now are doing it to acquire new customers. Second, to build brand awareness. Forty-two percent of people using remarketing are doing it for brand awareness. Third is to acquire competitor’s customers.
Three out of four customers notice it, as I mentioned, people are starting to realize that they’re being retargeted to. But even though they’re noticing it, it’s still improving clickthrough rate by almost ten times. So here, website visitors that are retargeted are seventy percent more likely to convert. Meaning that they’ve shown intent, they’ve left your site, now they’ve come back, they’re seventy percent more likely to convert than the initial time that they came, which was much lower—could be between five and twenty percent there. Twenty-six percent of website visitors will return through retargeting. Again, let’s say you have a company, and you are reliant on your customers coming back.
Maybe you have a local restaurant, and you know one of my favorites here is Valle Luna. Valle Luna’s a great Mexican Restaurant we go to all the time. One of the things I always look for in the Valu-Pak is they have a buy-one-get-one-free. Well, what I would say is it’s probably been a year since I’ve been there, because I moved two miles away from where I was before. That shouldn’t make that much of a difference, but honestly, I haven’t even thought about it until this moment when I was thinking of examples for this. Now, if they had been showing me retargeting ads, I can all but guarantee that I would have gone there at least once a month with my family, because my wife and kids both love it. There’s an example of how retargeting could have gotten me back to a local restaurant quicker.
Now this, this one here’s a big one. The average clickthrough rate of display advertising is point-oh-seven percent. Display advertising is meant for branding—to stay in front of people that are your target audience. So it’s not a very high clickthrough rate, but you’re in front of them and you’re branding your business. Retargeted ads are point seven percent, so ten times more likely to click on your ad if they’ve already been to your site and you’re retargeting them. Retargeted customers are also three times more likely to click on your ad than those who have never interacted before. One in five marketers budget for it. So only one in five marketers who have a display advertising budget are using remarketing, so you can have a quick advantage on your competitors if you implement a remarketing strategy.
And don’t forget, retargeting B2B businesses are even more effective, because you’re not generally targeting out to just a big consumer population. If you’re B2B, you probably only have 100, maybe 200 customers for your business, and staying in front of those purchasers all the time that are reliant on purchasing things for their business are going to be a lot more effective than just B2C business—although B2C, again, is very effective. So, keep in mind if you’re a B2B business that remarketing is one of the things you can do that’s just as effective as a B2C company, if not more.
So with that, thanks so much for tuning in to Episode 33. I hope you got some knowledge on remarketing, and with that I’ll leave you with a quote.