Remarketing 101: The most cost-effective digital channel you should be using

Fact:  Remarketing is a highly targeted way of reaching out to known prospects and existing customers and is one of the most powerful tools in digital marketing. It allows you to show display or search ads to people who have previously visited your website or used your app, and these ads can be specifically tailored to their previous behaviour on your site. We work with some of Australia’s premium brands including Toyota and Medibank to create strategies that are highly cost-effective, extremely efficient in targeting pre-qualified users and can be leveraged to enable more robust user segmentation.

Key things that remarketing excels at:

  1. Lowering cost per acquisition of your search or display campaigns
  2. Reducing media wastage on existing campaigns; sharpen the focus on pre-qualified prospects and focusing your spend on users that are more likely to convert
  3. Displaying highly relevant creatives through dynamic remarketing; generating a deeper engagement and guide known prospects further down the purchase funnel
  4. Growing revenue from existing customers

Best of all, remarketing campaigns are very quick to set up and if you have Google Analytics Universal, no additional development investment is required to get a remarketing campaign up and running.  For a more robust retargeting campaign, dynamic remarketing can also be leveraged to display highly-customised ads generated dynamically based on specific website content that a user has engaged with.

Lower your cost per acquisition

Remarketing enables you to target your spend to highly qualified users and prospects who are more likely to convert – for example, deliver relevant ads to people who have spent a certain amount of time browsing your products, or those who abandoned a shopping cart or dropped out part-way through a ‘join’ form.

Through Google Analytics, you can now specify how detailed and granular your remarketing lists are. In addition to targeting users based on what pages they have consumed, a wider range of website dimensions and metrics are now available through Google Analytics remarketing – such as time on site, recency and frequency of visits, number of pages consumed, events or goals that have (or have not) been completed, and more. It’s up to you how you slice and dice the data to ensure that the right ads are being served to the right audience. 

Reduce media wastage and exclude irrelevant users

Use remarketing to ensure that the online advertising component of your marketing budget is spent wisely.  Use negative remarketing to exclude irrelevant audiences – for example, if your strategy is new customer acquisition, you can exclude existing customers by creating a negative remarketing list of users who have entered through known channels like eDMs or member logins. This way, you can ensure that every dollar spent is invested purely to acquire new customers.

Display highly relevant ads through dynamic remarketing

For a more robust retargeting campaign, dynamic remarketing can also be leveraged to display highly customized ads generated dynamically based on specific website content that a user has engaged with. For example, if a user on a car manufacturer’s website has interacted with a specific vehicle on the website; through dynamic remarketing we can target the user with ads for that specific vehicle, customizing the ad’s image and messaging to reflect the make, model, colour, transmission and accessories that the user had shown interest in.  We can also take this a step further and promote a current offer for that specific vehicle to guide users even further down the purchase funnel. 

Grow revenue from your existing customers

Remarketing is also the perfect tool for growing revenue with existing customers as it provides an easy way to implement cross-sell, up-sell or customer retention strategies through digital media.

Here are some examples of how remarketing can be used to reach out to existing customers in new ways:

  • Cross-sell opportunities – target highly engaged, existing customers. For example, a person that recently purchased a car finance product is likely to be interested in car insurance products.
  • Sharing remarketing lists – put the power of your targeted list to work across different websites. For example, if you have a website that sells jewelry, the high-value customers on that site could be interested in another site that sells female shoes.
  • Customer retention – identify users who previously had high engagement with your site or products, yet haven’t visited or interacted with your site in 30 days, and serve them ads to entice them back to the site.
  • Special offers or promotions – identify users based on their interest in particular product categories, and serve them ads with targeted offers or promos.

Using remarketing, all of the above strategies and more are easy to implement. If your media spend is limited, it ensures that every dollar is more effectively targeted at the right people. Furthermore, it can be a useful way of proving new strategies and acquiring larger marketing budgets for future work.

The next step in your marketing program

If you have invested heavily in creating and promoting your website, then remarketing is the logical next step. In the vast majority of cases, you need to bring people back to your site to seal the deal – and remarketing is a proven and cost-effective way to do so.

Needless to say, every business is different and present different opportunities to leverage remarketing.  FirstClick Consulting can help you create and implement a tailored remarketing strategy that drives value for your business. Feel free to get in touch for some advice on how to implement a robust remarketing campaign.

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