If you've ever been to a website and then noticed ads for that brand everywhere you go online, you've experienced remarketing. Honestly, who hasn't seen a remarketing ad by now? They are everywhere, and for good reason. Those ads, following you on purpose, are serving an important marketing strategy known as remarketing or sometimes referred to as retargeting.
What Is Remarketing?
It's actually a pretty simple concept: Once a consumer has connected with a brand online, the brand continues marketing to the consumer in hopes that initial interest will lead to a conversion. That's why that pair of shoes is following you around like a ghost, and it's why your favorite local sports team keeps popping up in ads promoting its season ticket pages.
When brands do it right, remarketing is one of their most successful strategies to persuade customers to take action. Here's a look at what remarketing can offer to small business owners.
Chasing Better Campaign ROI
Remarketing targets prospects who have already been exposed to your business increasing the potential for a conversion over other marketing channels targeting a more general audience. These higher-value prospects wouldn't exist without initial marketing strategies that brought them to a business's website, and they are less likely to become customers without a remarketing strategy in place. Remarketing reminds busy consumers of your business's products or services and encourages them to come back to your website to continue their original journey. Hopefully ending this time, with a conversion.
By adding remarketing to your digital campaign, your company will have a comprehensive marketing strategy that does a better job of fulfilling your business goals. Remarketing isn't designed to function as a standalone channel, but in cooperation with an existing strategy. When added to your marketing mix, it can produce a dramatic uptick in conversions and bolster your ROI.
According to MarTech Advisor, typical conversion rates for brands range between two and 10 percent, which means 90 to 98 percent of your website traffic can be tapped for your remarketing campaigns.
Built for Small Budgets
In most cases, premium results come at a premium cost. But that's the beauty of remarketing for small businesses: Not only does it drive great results, but as Forbes pointed out, it costs just a fraction of what you'll pay for other, less effective campaigns. Remarketing targets a small, exclusive audience, which by nature, draws less competition than industry keywords or other targeting strategies deployed by your competitors. You're targeting individuals, making the content more personalized and the keeping costs down. This makes it easier for cash-strapped businesses to carve out a budget for remarketing campaigns, all while boosting their overall marketing ROI.
In summary, remarketing is a way for small businesses to gain a competitive edge without breaking the bank. It can elevate the value of all existing marketing channels and improve engagement with your target audience. It's also helpful to consumers who may have gotten distracted or were still early in the research phase by reminding them come back and take action. This combination of value and effectiveness makes it a perfect strategy for all business owners to embrace.