What Is Digital Remarketing and What Are Its Benefits ?
eCommerce is a notoriously difficult and competitive environment despite the ease of access to prospects that comes with a website and a digital footprint on social media.
Whether you are selling products, services or virtual goods, the search for prospects who become paying customers is never ending and difficult.
Digital marketing and advertising has grown as an industry in order to deliver eyeballs to your website where you have a very brief few seconds to try and convince the visitor to become a customer. Experience and hard data teach digital marketers and entrepreneurs that that transition from visitor to customer is an incredibly difficult task for most online businesses.
In this post we will look at the problem of turning website visitors in customers and how one solution, namely remarketing can be used towards this objective successfully.
Lets dive in
What Exactly Is Remarketing ?
Remarketing is a digital marketing tactic that attempts to capitalize on traffic that visits your website, but does not convert.
It does this by re engaging with your site visitors after they leave your website wherever else they may go through use of what are known as “cookies”. As an aside, there are concerns in the digital marketing industry about invasion of privacy by attaching cookies to site visitor browsers in order to follow them around the internet. There are attempts to develop cookie-less visitor identification that enhance privacy, but how they will impact marketing and remarketing remains an experiment with many unknowns as at the original publication date of this post in late 2021.
Back to remarketing. Currently this a common and powerful digital marketing tactic because it engages your marketing message with people who are already warm to your product or services. They have already pre qualified themselves by virtue of having visited your website and moreover specific pages on your site.
In a remarketing campaign your site visitor browser is tagged with cookies to allow the marketing platforms to recognise them wherever they may surf on the Internet.
If the third party websites they visit are in the display network and show marketing adverts and if that third party website is approved in your marketing configuration, the visitor can be served with your ads when they visit that third party site.
The tagging by cookies allows your advertising platform to recognise your site visitors wherever they are online. Your advertising platform also creates what are known as marketing audiences.
As an example if your website sells two products “A” and “B”, you may want to re-market to visitors who show an interest in product “A” but who do not convert into customers on their initial visit to your site.
When someone visits page you have configured for product “A” they are tagged with a cookie. Furthermore, they are added to a remarketing list that identifies them as having visited the page for product “A”
When they visit third party sites in the display marketing network they will be recognized as having previously visited your site by virtue of the cookie. Being members of the product “A” audience, they will also then be served with product “A” relevant ads that you have created in order to re-market to them.
At https://digitalmarketers.co.ke in Nairobi, a core competency of ours is setting up and configuring marketing and remarketing platforms including serving cookies to your site visitors. We also create your audiences and campaign assets that are relevant and specific to each audience.
Contact us to see how we can set up your marketing and remarketing configurations to tag and facilitate serving of remarketing ads to your site visitors.
Now that you understand remarketing let us examine the benefits of this digital marketing tactic.
1 Re-engage With Website Traffic
We’ve already seen that the purpose of remarketing is to capture the interest of people who’ve already been to your website. In other words, you were trying to go after those people who visited your website, and by so doing pre qualified themselves as having interest in your product or service. They are somewhere down the middle of your sales funnel and now you want to guide them further down the funnel so that they actually become paying customers or clients and complete the buying journey.
Remarketing allows you to capitalize on website traffic in a powerful way.
Take these statistics for instance
- 3/4 of shoppers choose to leave eCommerce sites without completing a purchase. Source
And not only do 75% of site visitors fail to convert but
- Only 3 percent of first-time visitors are likely to buy from an e-commerce website on the first go. That means losing 97 percent unless you find a way to bring them back to the fold. Source
This is where remarketing comes in to re-engage with site visitors who are not completing their purchases and those who don’t buy on the first visit in any case. Clearly, that is a huge benefit of engaging in remarketing.
2 Targeting Warm Prospects
Remarketing targets warm prospects. These are people who have already been to your website and know about your products and services.
Cold calling must be one of the hardest ways in marketing to make a sale. A cold call is one where the marketers attempts to sell products or services to people who have little if any knowledge about his brand and business.
A much better prospect is one who has previously visited your site, is aware of the offers and is therefore more inclined to listen to a specific and relevant offer tailored especially for him. The likelihood of converting a warm prospect into a paying customer is clearly much higher and this is a resounding benefit of the digital remarketing tactic
3 Brand Recognition
Remarketing can serve purposes other than channeling your prospects down the sales funnel to turn them into paying customers.
Many prospects are simply not in the market for your products or services at any given moment in time. This however does not mean they will not be in future.
Remarketing allows you to keep your brand and business “top of mind” in such prospects for when they are eventually ready to make a purchase. They are more likely to recall your business and brand due to specific and relevant remarketing campaigns that have targeted them after visiting your website.
The reminders through advertising of your business and brand helps to keep them aware of your business existence. Think of “Top of Mind” as a conversion in its own right because although it is difficult to measure, your business gains distinct benefit out of i from sales that come later down the line.
4 Affordability and Return on Investment
The fourth major benefit of remarketing campaigns is their affordability and high ROI
As with regular display advertising campaign, remarketing campaigns are extremely affordable vehicles to reach people who pre qualify themselves by visiting specific pages on your website or by taking specific actions on the site.
Depending on your industry or sector and the Targeting you set for your remarketing campaigns, the cost of marketing and serving ads on a Display Network is considerably less than a pay per click campaign on a Search Network
The reduced cost ranges by up to as much as 50% in some sectors and for certain Targeting options. The cost per acquisition is also demonstrably lower because as we have seen earlier you are dealing with warm prospects who are responsive to your remarketing message
So not only is remarketing lower in cost in terms of your marketing budget but it is also highly efficient for its return on the investment in terms of the cost of acquisition per prospect who become paying customers.
5 Responsive Marketing Assets
In common with regular display advertising, remarketing campaigns allow you to create a wide variety of marketing ads and assets to engage with your warm prospects more powerfully.
You are able to create text, photo and video assets in a variety of shapes and sizes to take full advantage of the advertising real estate across the display networks. Your ability to be creative with the assets you serve your remarketing audience is higher than is possible with any other form of advertising.
As we saw with the product “A” example earlier, you can create very specific ads to talk to your audience about the product making the campaign very personal and specific to the prospect.
In relation to this point make your remarketing campaigns very specific for the remarketing audiences that you create. This is why you need to be especially careful that the audiences you create are collected from specific pages and not from the general website.
If you have a website that has many different pages, offering different products and different services, you need to make sure that you create specific audiences for each of the products or each of the services and not as a general whole.
That way you will be able to create remarketing campaigns that are specific and tailored exactly to the particular product or service, rather than keeping it general. That is the whole point about doing remarketing, so that you become, and get very specific with your campaigns to target specific interest groups in the different audiences.
Finally, you also need to cap the number of times that remarketing prospects get shown your ads on the networks. If you show the ads to prospects in your audiences too often or too frequently it can become annoying for them and therefore probably counter productive. So you need to balance the frequency of your remarketing against showing the ad to the audience in an attempt to get them to convert.
Where that balancing act lies is a matter of trial and error but it would probably be more than sufficient to show your ads to your audience no more than say two or three times per day as a maximum.
All this can be configured in your remarketing campaign setup.
At Digital Marketers Nairobi we are competent in creating and configuring remarketing campaigns. If this is a topic of interest to your business for the benefits we have discussed in this post visit https://digitalmarketers.co.ke and contact us for more information and a consultation
Digital Marketers in Nairobi https://digitalmarketers.co.ke is a one stop shop for best of class full digital marketing consultancy services in Kenya.
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