How to Boost Conversion Rates with Remarketing
Only 2% of visitors purchase visiting your website for the first time. This means that the other 98% leave your site without making a purchase. So, how can you reach the additional 98%?
Remarketing is one of the best ways to reach the people who leave your site without making a purchase, and it can help boost your conversion rates.
If you want to learn more about how remarketing can help you convert visitors into customers, call us today at 888-601-5359, or keep reading for more information.
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What is Remarketing?
When you shop online, you may browse through various products and decide that you aren’t ready to purchase. You leave the website and close your browser.
A couple of days later, you notice advertisements for products you viewed as you peruse the web. How did those ads get there? The answer is remarketing.
Also known as retargeting, remarketing uses cookie tracking to follow non-converting website visitors around the web. As these visitors go to other sites, advertisements are triggered for your products or services that these visitors previously viewed.
Cookie tracking does not store a visitor’s personal information, such as their address or credit card number. It merely tracks their behavior and the websites they visit.
Remarketing is a great way to reach consumers after they leave your site. And this practice is extremely effective for helping people convert.
Benefits of remarketing
Now that you know what remarketing is, let’s take a look at four benefits of remarketing.
1. Increased brand exposure
When you use retargeting, you put your brand in front of people who have displayed interest in your products or services. Even if they don’t convert after seeing your advertisement for the first time, you want them to remember your brand.
In fact, 70% of marketers use retargeting to build brand awareness.
So, how does it help increase brand exposure?
When customers are looking for a particular product, they consult multiple sites. They compare prices, quality, and other factors. They don’t convert right away because they are still deciding which product is best for their needs.
If you use retargeting, you remind those consumers of your product. Your product and your brand are at the forefront of their minds. This is especially effective if your competition isn’t using retargeting.
People pick your business over the competition because of your brand awareness. They are familiar with your brand and are constantly reminded of your product. You can beat out your competition just by keeping your brand in their minds.
Remarketing is an effective way for you to increase your brand exposure, and this increase in brand recognition will help you boost conversion rates.
2. Precise targeting
You have a target market. These are the people you try to reach with your advertising plan. Your target market contains people that are most likely to be interested in your products.
What happens when people in your target market are converting as well as you hoped? It’s time to get more precise with your targeting.
Retargeted ads enable you to target specific kinds of people within your market. In your target market, there will be people who are more interested in a product than others. This doesn’t mean that you remove the uninterested people completely.
Instead, the best solution is to direct your retargeted ads towards a precise group of people. This group consists of people who clicked on an ad for the product or put the product in the cart. They are the people you know are interested in your product.
This prevents you from advertising to people who aren’t interested in what you offer. With remarketing, you can put more time and effort into reaching people who are most likely to convert.
3. Greater engagement
By utilizing retargeted advertisements, you can also increase a user’s engagement. Retargeted ads entice people to click on them and find more information.
The increase in engagement puts people on the path to becoming customers. As they interact with your brand, they become more comfortable with converting. By using retargeted ads, you are increasing user engagement and leading them closer to purchasing.
4. Fits your budget
Remarketing has a great ROI. You know your audience better, so you can tailor your advertisements to fit their needs. It enables you to speak to them directly.
You don’t waste your time on people who aren’t interested. Instead, your focus is on people who are most likely to convert. Through remarketing, you can get people to convert.
This increases your ROI, which is a great benefit to your business.
Not only that, but the increase in interest lowers your cost-per-click (CPC). Every time someone clicks on an advertisement, it costs your business money.
When more people click on your advertisement, you decrease the CPC because many people are clicking on the advertisement. It indicates to sites like Google that your advertisement is effective, so they don’t charge you as much.
Since you are targeting interested parties, they are more likely to click on the advertisement. They are already interested in your product and seeing it again will cause them to click. This means your click rate will increase and your CPC will decrease.
How remarketing boosts conversion rates
If you’re considering utilizing remarketing, you want to know that it is effective. The goal of remarketing is to turn visitors into customers. So, how does remarketing boost conversion rates for your business?
1. People who see retargeted ads are 70% more likely to convert into paying customers.
When you utilize remarketing, you have a higher chance of converting guests into customers.
If customers are on the fence about making a purchase, they’re going to wait. They’ll take time to think about it and make sure it is a good investment.
However, retargeted ads keep your business in the front of their minds and entice them to buy. When they are ready to make a purchase, they will be more likely to choose your business.
2. Retargeting garners a 147% higher conversion rate than only using regular ads.
It isn’t enough to hope that a consumer will reconsider a product. A consumer may be considering multiple products at a time, which makes it easy to forget some of them. They may never convert because they forget about the product.
By using retargeting, you help people remember that they were considering your product. Again, it drives them to reconsider the purchase.
3. When shopping online, 72% of shoppers are likely to abandon their shopping carts.
More than half of shoppers will put items they want into a cart and then change their minds. These are products they may still want, but aren’t ready to purchase yet.
Remarketing is important in this aspect because it reminds users of the things they abandoned in their carts. It is an indicator for them to reconsider purchasing those products.
4. Without using retargeting, only 8% of those who abandoned their cart returned to complete their order.
As stated previously, you can’t rely on customers to come back to their cart. They may forget about it or still be undecided. Only 8% of these people return on their own to make a purchase.
That means that all the other guests aren’t returning on their own. This is where remarketing can help more of those shoppers come back to their carts.
5. With retargeting, 26% of people who abandoned their cart completed their order.
Retargeted ads help people convert. You can get 26% of people who abandoned their cart to return and convert. It is far more effective than relying on people to convert on their own.
6. The average clickthrough rate (CTR) for a display ad is .07%, but retargeted ads boost CTR to 0.7%.
For display ads, the average CTR is .07%.
The CTR is higher with retargeted ads because people are interested in the products. These are products they intended to buy or ones they viewed. The CTR increases because it is familiar to the user.
A higher CTR is good for conversion. If more people are clicking, more are likely to convert. By utilizing retargeted ads, you can help people convert.
These statistics prove that remarketing is a great way to get people interested in converting. Retargeted ads make consumers more likely to purchase because they are constantly at the forefront of their minds. When they see your advertisement, they are reminded of the product and think more often about whether or not to purchase it.
One of the most common things businesses will see is abandoned carts. These are some of the best people to retarget because you know they were thinking about purchasing. When they see your retargeted advertisements, they are reminded of the products. And retargeted ads are the extra push consumers need.
If you want to increase your conversion rate, retargeting is a great way to do it. You can effectively use advertisements to remind people about products they previously viewed. By doing this, you will guide people towards making a purchase.
What are the best practices for remarketing?
If you want to get the most from your remarketing plans, there are a few important things to remember. These three pieces of advice will help you create successful retargeting plans.
1. Don’t let customers depend on promotions
When users abandon their carts, some companies will send them an email right away with a promotion. It might be something as simple as “Get 20% off the order in your cart!”
You don’t want to get into the habit of this because users will purposely abandon their carts to get a promotion. If you want to send them these types of messages, wait a few days after they abandon the cart.
2. Don’t bombard people with retargeted ads
When you use retargeted advertisements, you don’t want to overdo it. If you are constantly putting your retargeted ad in front of those customers, you can deter people from converting. You’ll oversaturate customers.
You don’t want your retargeting to come off as annoying to consumers. You want to make it appear as a random reminder.
3. Use burn pixels
The purpose of retargeting is to get customers to convert. This is what you are trying to achieve through these advertisements.
When customers follow through, you are no longer trying to get them to convert to that product. They shouldn’t see your advertisement for that product anymore.
Some companies make the mistake of forgetting to stop targeting people who already converted. When those users see the advertisements repeatedly, they are turned away from your brand. You don’t want this because, ideally, you want customers to be repeat customers.
You can prevent this from happening by using burn pixels. Burn pixels remove people from the retargeting list once they convert. This prevents any unwanted retargeting from happening.
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Let WebFX help you with your remarketing plan
Remarketing is a great way to remind people of your business and boost conversion rates. At WebFX, we have years of experience with remarketing campaigns. We can help you create an effective plan that will help people convert.
Our team of 500+ experienced members is dedicated to your campaign. We will create a unique plan for your business. No two businesses are alike, so we customize your plan to fit your needs.
Your budget is important to your business. That’s why we offer transparent pricing. You’ll always know where your money is going and how much our services cost.
Learn more about remarketing
If you’re ready to learn more about how retargeting can help you gain more conversions, contact us today to speak with a specialist.