Beating around the bush is not a smart thing should you seek to grow your business as it will only drain your resources. And it is all the more true when it comes to marketing your e-store. Time and again we have asserted that eCommerce website development is futile without a proper digital marketing strategy in place. Today, we will focus on why and how retargeting ads are the best marketing strategy for an e-store should you seek to drive more conversions.
What is Retargeting Ad?
Retargeting is based on the simple principle of reengaging people who have visited your store or taken some actions. With retargeting ads, you can reach visitors or customers on external sites after they leave your store.
Here is an example to clarify. Let us place you on the customers’ chair for better understanding. Suppose you are interested in buying a chair. You visit an online store, browse a few products, may add one to the wishlist or shopping cart, and then bounce without making a purchase. After a few hours, or maybe after a day, when you find the retargeted ads from the website featuring the products you browsed while scrolling Facebook, there’s a high chance that you will open the site. As this keeps happening a few times, you may even convert!
We hope now you have understood why the experts of digital marketing services recommend leveraging the power of retargeting ads for an e-store.
Who is the Target Audience for Retargeting Ads
Retargeting ads are highly specific and they don’t target a wide audience. These seek to engage two types of people:
Visitors – They have browsed your website, checked a few items, may have added one or a few things to the wishlist or shopping cart, but have not yet converted. You can retarget them by utilizing the browser cookies and promote products that have shown an interest in them.
Customers – They have made a purchase and you may want to upsell them on more products. Suppose, a customer has purchased a smartphone from your e-store, you can retarget them and display phone cover, memory card, and other accessories. You already have adequate data, so add your customers’ email addresses to your retargeting ad network and show them such attractive ads.
What is the Importance of Retargeting Ads?
People often take a long time to purchase something from an e-store. They compare the prices in multiple stores, read the reviews, check out similar products, and delay the purchase. Unless it is an essential item, they may even forget about it!
Retargeting gives them a push towards your brand, triggers their memory, and kindle their desire to buy the product. The click-through rate of a retargeting ad will speak for itself. A study by Wishpond finds that the CTR of a retargeted ad is 10 times higher than the CTR of a display ad.
While a generic display ad targets a broad audience and features random products, a retargeting ad is more specific. It targets the user base that has already shown interest in your products. Naturally, they have a higher potential to convert. A study by Criteo will validate our statement – when a prospect sees a retargeting ad, there is a 70% chance that they will buy the products over your competitors.
Effective Strategies for Retargeting Ads
Okay, by now you are convinced of the power of retargeting ads. Now, it’s time to learn some effective strategies and implement them.
- Use Dynamic Retargeting
This conversion-boosting feature is offered by Google Ads. It uses product pictures and relevant information to show a personalized dynamic ad to your potential customers including website visitors, product viewers, and shopping cart abandoners.
Google Ads can predict the best dynamic layout based on the person, platform, and ad placement. It can also rotate multiple copies to entice the audience. Therefore, you can rest assured to create a dynamic remarketing campaign without any hassle.
- Create a Compelling Copy
While product images play a crucial role, a catchy tagline is no less important. With a compelling copy like “free shipping”, “save up to 20% with the code FREE20”, etc., your ad will be even more conversion-driven for the users.
If you do not intend to provide any discount, create a sense of urgency. “Last minute deals”, “few pieces left in stock”, “hurry up and shop before stock runs out” – copies like these attract the potential shoppers to jump straight in and buy the item. Such copies incite FOMO (Fear of Missing Out) which is a great weapon in enhancing online sales. These often lead to impulse shopping – a major sales booster for an e-store.
- Target Past Buyers and Remind them about Your Brand
Brand memorability is an important factor should you seek to survive and grow in today’s competitive market. And a retargeting ad can help you in that.
Not only your potential customers, but the past buyers can also be your target audience. Remind them how much they loved your products, show new product lines, and ask them to shop again. Repeat customers are the backbone of your e-store, so don’t fail to reach out to them.
- Utilize Multiple Platforms
You can show retargeting ads on different platforms including Google, Facebook, Instagram, YouTube, third-party sites, and so on. Before starting, run quick research to find out which platforms or channels host most of your target audience. That way, you can reach out to them without draining your resources or efforts.
We recommend you use multiple platforms – a combination of search and social – to increase visibility.
- Customize Ads According to Your Target Audience
As you can understand, retargeting ads have multiple audience bases – website visitors, customers who have just made a purchase, and those who have shopped from you quite some time back.
Alluring them with one set of an ad campaigns is never possible. You need to create unique ad campaigns to reach out to these distinct target audience categories. If you are overwhelmed, engaging professional PPC services will be a smart decision.
- Monitor Ad Performance
The best thing about digital marketing is that you can always monitor and track your efforts. Google Analytics is the best tool for this. You can check how many people are watching your retargeting ads, which ads are engaging people the most, which ads have a high CTR and conversion rate, and which ads have the least engagement. Depending on the insights, optimize your marketing campaigns.
As you can see, retargeting is a great way to boost your sales and increase revenue. Since your target audiences are already interested in the products, they have a higher chance to convert. It can also trigger brand memorability. Utilize the power of retargeting ads and witness the change yourself.