Retargeting is huge. We’re all online day and night, and we’re talking about simple technology that allows a brand to follow us online, even when we leave their website. How about that for power?
However, while the technology may be simple, retargeting can be risky due to its in-your-face approach to online advertising. No one wants their brand to stalk their customers. That would just be weird. So before you can prepare to boost your bottom line, here are 7 things about retargeting that you need to know before deciding whether to invest.
1. Retargeting can increase conversion rates by as much as 147%. There’s no doubt about it, if you want to sell more products and services, retargeting works.
2. The consumer’s opinion of retargeting is mixed. Recent research shows that 30% of people are positive about being retargeted, 11% are negative, while 59% are neutral. But could those 59% of people be swayed?
3. Retargeting is hot right now – in fact, it’s gone mainstream. So if you decide not to use retargeting as part of your marketing strategy, your competitors might be taking revenue away from you.
4. The average click-through rate for display ads is 0.07%, while the average rate for retargeted ads is 0.7%.
5. By retargeting visitors to your website, you’re 70% more likely to convert them at some stage. It’s as simple as that.
6. Retargeted ads can lead to a 1046% increase in branded search.
7. I’ve saved the most important point till last. It’s important to realize that a whopping 98% of people leave a website without buying anything on their first visit. Even a successful advertising campaign will only convert 2 out of every 100 leads. Therefore, 98% of your advertising budget is effectively being flushed down the toilet.
Can you afford not to retarget these visitors?