Today, more companies compete for customers online – and with higher budgets – than ever before. As customers consider more options, companies now struggle to convert site visitors to customers. Brands that stay engaged with visitors after the visit are able to reconnect with them, increasing the odds that they return and become customers.
Remarketing (or “retargeting”) is one of the most productive and cost-effective ways to reconnect with site visitors, improve brand recognition and turn visitors into customers.
What is Remarketing?
Don’t fall victim to the myth that remarketing is intrusive. Remarketing is a great way for you reconnect with prospective customers who visited your site without making a purchase or contacting you. Instead of losing those visitors to a competitor, remarketing is your chance to remind them of your awesome products or services.
Here are four reasons why this type of online marketing is an excellent business practice.
1. Remarketing Saves You Money
Dollar-for-dollar, this method typically generate more conversions(leads or customers) than other types of online advertising. Why? Remarketing uses a cost per thousand (CPM) impressions model instead of CPC (cost per click).
For a comparatively low cost, you serve ads to prospects who have expressed interest in you by visiting your site and you can continue to reach them for weeks or even months after their visit. So, remarketing has a dual benefit:
- Studies show that with each repeat visit, prospects are more likely to become customers
- Prospects may see your ad multiple times, building your brand awareness (unlike with search ads).
2. Keep Your Target Audience Engaged
A high percentage of site visitors will leave your site without converting; for most companies, conversions require multiple visits. Remarketing keeps you from losing contact with past visitors, by continuously reminding them that you’re still there.
3. Brand Awareness Increases
The phrase, “out of sight, out of mind” is especially true with Internet users who:
- Consider multiple websites before making a purchase
- May be distracted and never make a purchase at all.
Since you pay for impressions with remarketing, this helps you stay “top-of-mind,” as you continuously remind customers about your product or service and your brand.
4. Retargeting Supports Your Other Marketing Efforts
Think about all of the money your business has put into the creation of fresh, new ads. Clicks that don’t convert are wasted advertising dollars. With high value retargeting, you can bring back that lost audience, recycle ad campaigns, and earn those precious conversions.