You might find people around you saying most statistics are made up. We promise these stats about retargeting are right on the money.
Only 2% of visitors take action on their first visit to a website.
That means 98 out of 100 just bounce off your site and may or may not return. If they are confused to shop with you against your competitor, whose site will they end back on to ultimately make a purchase? Retargeting sets you apart by providing your prospect with timely reminders about your products and services.
Three out of five people notice ads for products they looked up on other sites.
You will agree to this as you have experienced it first hand when that same pair of running shoes keep showing up in an ad on multiple websites in exactly the color you were looking to buy. The algorithms that drive retargeting campaigns have gotten crazy smart. Be smarter than your competition and put smart retargeting on your digital marketing team.
There is a 147% increase in conversion rate with retargeting leads.
This statistic demonstrates the power of putting more of your digital marketing efforts in continuing to remind and coax prospects who showed interest in your product and services. Yes, you will always need new prospects and first-time visitors to your web sites, but be smart and efficient about making the most of the opportunity they have given you to continue retargeting ads to them.
If we go by the stats, 26% of retargeted prospects return and complete an online checkout.
Rather than trying to attract first-time visitors who may or may not convert, retargeting strives to get repeat visitors who are more likely to convert.
With the stats you would have realized the power of retargeting and also wondering why you haven’t put the benefits of retargeting to work for your organization sooner. Here are some of the top benefits of retargeting ads.
As a business this is what you are looking for, more sales. And it is the important benefit of retargeting as a part of your digital marketing strategy. Every organization that intends to stay in business must pay attention to revenue.
Reach Interested Prospects
This is the difference between cold calling prospects and making a call to someone who called you first. The gentle nudge can help you convert the deal. Retargeting helps you reach interested prospects, rather than reaching members of your target audience who are only likely to be interested.
Increase Brand Awareness
Studies continue to demonstrate that it may take seven impressions by your brand on a customer to build up enough trust for them to take action. Retargeting can shorten the amount of time it takes for your prospects to build enough brand awareness and make a buying decision. Even if they do not convert right away, you are putting the odds in your favor that your brand will be the first one they remember when they do decide to move forward. Brand awareness is huge for business growth, and retargeting offers benefits in that area.
Keep up with Digital Marketing
Retargeting is not a trend that will lose traction. Like most other digital marketing channels, it continues to evolve as technology advances and becomes more intelligent. Start using retargeting now and you’ll lose no time in reaping the additional benefits it will afford as it advances.
If you are not retargeting people who abandoned a shopping cart containing an item they were specifically about to purchase then you really are missing out. Go into your eCommerce site and look at the analytics about how many times a shopping cart was abandoned in the last 30 days. Would you like to magically convert one out of four of those into a sale? Do not beat yourself up too hard for what you have been missing out on as long as you choose to make retargeting a central part of your digital marketing strategy.
The effectiveness of retargeting becomes fairly obvious once the straightforward logic of the benefits are presented. Plus, it does not hurt that retargeting has been around for a while now, so there are plenty of strong numbers to back up these claims. Retargeting will only continue to get more effective as technology evolves, so get on board now.