Remarketing can allow businesses to reverse the fallout from lost sales while significantly increasing retention rates.
When it comes to marketing, the internet is a great equaliser. With
the advent of cost-effective tools, such as Google AdWords, suddenly the success of your marketing campaign depends not on the size
of your budget but on the content
of your message.
Now, with the emergence of the Google Display Network’s remarketing functionality, businesses are even more capable of pitting their marketing nous against the million-dollar budgets of their corporate competitors – and coming out on top.
Remarketing essentially gives advertisers the capability to target customers who have previously interacted with their website through the Google Display Network but have not carried through the desired action.
For example, a customer may visit an online store and select products for purchase but abandon their shopping cart before confirming the sale.
Remarketing allows the online marketer to deliver tailored ads to the lost customer that may, for example, offer an incentive for the customer to return and complete the sale.
“The key is to draw you back to my website with a relevant, targeted message,” says Paul Goldston, head of ROI at Brisbane-based digital marketing agency Reload Media.
“Remarketing allows us to achieve that by offering the customer a targeted deal that adds value and feels exclusive without subjecting them to the hard sell,” says Goldston.
“The beauty of it is that it’s not the highest bidder who wins. People with the most relevant ads are the ones who win, which means the smaller guys can compete with the bigger guys on the same playing field.”
However, before you log on and start creating remarketing campaigns for yourself, Goldston sets out a few key steps you should follow.
1. Set your strategy
It’s important to remember that remarketing can be used as a short-term strategy to convert lost sales or over the long term to increase customer retention.
“For example, you can take a short-term view and remind people that they still have items in their shopping cart while they are still in the window-shopping phase,” explains Goldston. “Or you can set a cookie for 12 months after a customer has made a purchase and say ‘Hey, you purchased last year, do you want to purchase this year?’”
2. Define your audience
Once you have settled on your strategy, you are able to begin defining your audience.
“You can build your audience any time a consumer touches your brand online,” says Goldston. “For example, you may want to target women aged between 30 and 34 who like swimming.
“You can build as many niche audiences as you want and tailor specific remarketing campaigns to each. With that in mind, you can then come up with your creative strategy.”
3. Design your campaign
The key to composing a strong remarketing campaign, says Goldston, is to not be too aggressive.
“For example, if I run an online software store, I might write an ad targeting consumers who have previously browsed a specific title, saying ‘Are you still interested in World of Warcraft 3? Buy it now with free shipping’.
“It’s about giving the customer a reason to come back to you, which works well if they feel like it’s an exclusive offer for them.”
The views expressed in this article are those of the author and the interviewees, and not of Australia Post.
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