Not every visitor to your website converts on their first visit. Most people browse, click around, and leave without taking action. This is not just a trend in consumer behavior but a harsh reality most businesses face today.
In fact, 92% of consumers visiting a brand’s website for the first time leave without making a purchase or taking a desired action. This may seem like losing a lot of growth opportunities for businesses. But what if you could bring those lost opportunities back into your sales funnel and convert them successfully?
This is where retargeting in performance marketing comes into play.
Retargeting, also known as remarketing, is a proven strategy to re-engage with previous visitors and turn potential interests into actual conversions.
For performance marketing services, retargeting is a powerful tool to bring back lost conversions. But using this strategy effectively requires more than just knowing it exists; it’s about mastering its application and leveraging maximum benefits.
In this ultimate guide, we’ll learn more about retargeting, its benefits, and the most effective retargeting strategies to win back lost visitors and boost conversions.
What is Retargeting in Performance Marketing?
Retargeting is a specialized strategy that focuses on users who have previously interacted with your website but didn’t complete a desired action, such as making a purchase, subscribing to a service, or filling out a form. Retargeting aims to re-engage with these visitors and convert them into high-value customers.
In performance based marketing, retargeting offers an excellent opportunity to connect with users who didn’t convert during their first interaction and encourage them to take action with tailored messages, ads, or content. Retargeting shows them products or services they have shown interest in and are most likely to purchase.
How Retargeting Benefits Performance Based Marketing?
Implementing retargeting strategies in performance marketing not only helps businesses in re-engaging with previous visitors, but it also offers other comprehensive benefits. To maximize these benefits, businesses often partner with performance marketing services that bring along profound expertise in retargeting.
Let’s take a look at what benefits retargeting in performance marketing offers to businesses and marketers:
Increases Conversion Rates
Retargeting proves highly beneficial in increasing conversions and sales. It gives businesses the opportunity to interact with consumers who have already shown interest in their brand, encourage them to take action, and convert them effectively.
Improves Brand Recognition
Retargeting helps keep your brand at the forefront of users’ minds. It gives repeated exposure to your brand and lets customers recognize your brand easily. Retargeting in pay per click ads can serve as a gentle reminder about what you offer.
Cost-Effective Marketing
Retargeting proves to be more cost-effective as compared to other traditional marketing methods. Since you only target customers who have shown prior interest and are more likely to convert, you get a higher return on investment (ROI).
Enhanced Personalization
By analyzing customers’ past interactions, you can create more personalized content that truly resonates with their interests. Retargeting adds a personal touch to your performance based marketing campaigns, which in turn boosts brand engagement.
Higher Repeat Purchases
Retargeting not just brings new conversions but keeps your previous customers engaged. By continuously retargeting existing buyers with tailored campaigns, you can encourage repeat purchases and build brand loyalty among customers.
Long-Term Effectiveness
Businesses, marketers, and performance marketing services can gather more insights into customer behaviour when retargeting campaigns run for a long time. This helps in improving brand recognition, saving costs, and increasing profits.
Best Practices For Retargeting in Performance Marketing
Effective retargeting is not just about creating and implementing campaigns; it is about doing it the right way. With several businesses trying to retarget the same audiences with unique strategies, your retargeting strategy should stand out. It should consist of a multifaceted approach and employ the most effective techniques.
To help you create an effective retargeting strategy, experts at OMR Digital have suggested some of the best practices you can leverage:
Segment Your Audience
Not all website visitors are the same, so segmenting your audience allows you to create more personalized retargeting campaigns. For example, you can segment your audience as cart abandoners, product viewers, or casual visitors. Effective audience segmentation improves the relevancy and increases conversion rates.
Set Frequency Caps
While retargeting proves effective, overexposing users to the same content can lead to consumer fatigue and annoyance. To avoid this, you can set frequency caps that limit how many times your retargeting ads are shown to each user. Frequency caps are highly useful for retargeting in pay per click ads as they limit overexposure.
Attract with Offers and Discounts
Providing your previous visitors with intuitive offers, discounts, and other benefits is an effective way to bring back lost conversions. You can offer limited-period discounts or exclusive loyalty benefits to emphasize urgency and exclusivity. These offers can help push users to complete their purchases quickly.
Use Creative and Compelling Ads
When practising retargeting in pay per click ads, effective communication and creativity are the key to success. Your retargeting ads should contain compelling ad copies, strong call-to-actions (CTAs), and clear messages that resonate with your brand value. This ensures better engagement and faster conversion.
Choose the Right Platforms
There are various platforms that you can utilize to implement your retargeting campaigns, such as Google Ads for PPC campaigns and Facebook or Instagram for social media campaigns. You must select the right platforms that align with your requirements, budget, and target audience to maximize the effectiveness.
Test and Optimize
Just like any other performance based marketing strategy, testing is the key to improving your retargeting campaigns. You can A/B test different creatives, messages, ads, and CTAs to find out which version performs the best. Continuously optimize your campaigns based on performance to achieve the highest ROI.
Leverage Email Retargeting
Email is one of the most powerful channels of retargeting. If a user has left their email (by subscribing to a newsletter or creating a profile), you can use this information to contact them directly. Email retargeting becomes more effective when combined with segmentation, creating campaigns tailored to users’ interests.
Bring Back Lost Conversions with OMR Digital
Retargeting in performance marketing is undoubtedly the most powerful tool for businesses to recapture the attention of customers who left their website without taking action. Effective retargeting campaigns not only increase conversions but also build trust, increase brand recognition, and foster lasting customer relationships.
The key to successful retargeting is leveraging the right platforms, tools, and strategies with thoughtful segmentation. However, if all these seem like a challenge to you, OMR Digital is always ready to help! We can maximize the effectiveness of your retargeting campaigns and bring back lost conversions faster than ever.