Few things are more frustrating than “the one that got away.” If you’re like most website owners, you’ve missed plenty of sales that way. You can tell from your analytics that quite a few people come so close to making a purchase– only to turn away at the last moment. These “window shoppers” may not have bought anything the first time around, but the fact is, they must have been interested in your products if they got that far in the first place. If you can reach out to them, they might make a purchase after all. That’s the beauty of retargeting: you can hone in on the “window shoppers” and convert them into satisfied customers.
These missed sales aren’t some tiny niche within your overall web traffic. In fact, statistical analyses have indicated that only 2% of online shoppers make a purchase on their first visit to your website. So what about the other 98%? These people are obviously looking for the products and services you have to offer, and the likelihood of eventual conversion is surprisingly high.
Even though they didn’t make a purchase the first time around, they’re probably interested in what you have to offer. They could still convert, and retargeting is a digital strategy that can help you transform these undecided consumers into paying customers. Using modern tracking and analytics, retargeting allows you to advertise directly to them. After all, you already know they’re interested. All that’s left is making the sale. For this, retargeting is an incredibly powerful strategy.
How It Works
Why Is Retargeting Effective?
There’s a good reason why so much advertising is focused on cultivating brand awareness. The psychology of advertising has a long history, stretching back into the first half of the 20th century. The fact is, people need to be subtly reminded of your brand. The more they see you, the more likely they are to remember you when they do decide to make a purchase.
For example, let’s say you’re selling fishing lures. A particular customer found your website through organic Google results for “buy fishing lures online,” or something to that effect. A customer who makes a search like that is obviously in the market for a good fishing lure, and they’re probably serious about eventually making a purchase. They visit your site, browsing through your catalogue and looking at a few individual items. Then, they leave without making a single purchase.
Obviously, they were interested enough to linger on your website and browse for a while. So why didn’t they buy? Maybe they’re just not ready to make a commitment yet, or maybe they’re comparing prices from different vendors before they buy. There are all kinds of reasons why a clearly interested customer won’t make a purchase the first time around, but why give up on a solid potential sale? They need a fishing lure, and there’s still a good chance that they could end up buying it from you.
With retargeting, you can serve relevant advertisements to this hypothetical customer on other websites. When they go back to browsing the Web, they’ll see your ads in the margins of their favorite news sites, fishing hobby websites, and anything else they’re into. They’ll be persistently reminded that your brand exists, and that you’re selling fishing lures. Eventually, they’ll get out their credit card and decide to buy what they need. Since they’ve been reminded of your brand so often, there’s a good chance they’ll choose you.
Incorporating Retargeting Into Your Digital Strategy
Retargeting is a valuable addition to any company’s overall digital marketing strategy. At Clickagy, we work with online businesses to hone their strategic marketing decisions. Using sophisticated systems that implement artificial intelligence, data mining, and unique natural language processing (NLP) technology, we’ll help you leverage the latest marketing tech to precisely target audiences who are likely to convert. Our retargeting techniques can help you hook the “ones that got away,” ultimately boosting sales to enhance your bottom line. If you’re interested in learning more about what retargeting can do for you, contact us today to learn more about the latest in digital retargeting technology.