Estimates indicate that only 2% of the visitors that click through to your website will actually convert during their first visit to your store or webpage. The truth is that most people simply aren't ready to buy when they find your company for the first time - which is why so many marketing companies place excessive time and energy into creating long-term lead nurturing campaigns.
Most experts suggest that prospects are more likely to purchase a product or service after they have had seven distinct interactions with a brand. However, waiting for those people to naturally move through the sales funnel with repeated engagement would probably take a lot of time and money. That's why savvy business owners use personalized retargeted ads to reach out to their consumers and hurry them along the buying journey.
What are Personalized Retargeted Ads?
Unlike traditional advertisements that appeal to a wide range of audience members, personalized retargeted ads are carefully constructed to reach out to specific people in your target market - people who have already interacted with your brand before. With these advertisements, you can segment your audience members who have visited your website, but didn't convert, then deliver customized nurturing experiences that will make them more likely to buy from you in the future.
For instance, someone who visited the page for a particular pair of shoes might be retargeted with display banners that show those shoes at a discounted price. So, what are the benefits of this kind of advertising?
1. Retargeted Ads offer a More Relevant Experience
With personalized retargeted ads, you're not simply throwing out advertisements and hoping someone will respond, you're creating targeted strategies for marketing that are based on the behavior of your leads. This means that you can pinpoint the stage in the sales funnel that each visitor is in, and tailor your marketing efforts accordingly.
2. Retargeted Ads Make Advertising Less Annoying
The constant slew of advertisements online today has made most consumers sick and tired of seeing the same old messages across websites and social media platforms. Personalized retargeted ads can break your customers out of their "banner blindness", and force them to take notice of a message that has been customized to them. If your advertising efforts are useful and relevant, then customers will be far less likely to get annoyed or frustrated with your brand - leading to a better long-term relationship.
3. Retargeted Ads Improve Engagement
Customers are far more likely to click on a banner or advertisement that seems to have been personalized to their needs and preferences, than one that seems to have no relevance in their life. Retargeting allows you to connect with your audience in a more meaningful way, and experts suggest that you should be able to get back around 84% of your targeted traffic this way. In other words, with retargeted advertisements, you get better results for your money.
4. Retargeted Ads Set You Apart
As we mentioned above, because personalized retargeted ads are relevant to the needs and goals of your customers, they're less annoying and more engaging than standard advertisements. This not only helps to promote a good image for your brand, but it can also mean that you're more likely to stand out from other competitors in your industry that aren't attempting the same strategies. No matter what industry you're in, you're going to have competitors, and retargeting will help you to enhance brand recall, improve your brand image, and keep you in front of the customers that are most ready to convert.
5. Retargeted Ads Increase Conversions
Finally, retargeted ads are more likely to give you those all-important conversions you need to make your business more successful. According to Forrester, 96% of all site visitors never convert to become a sale, and that means you need to make some serious effort if you want your marketing solutions to have an impact on your bottom line.
All businesses want a bigger conversion rate, and retargeting is the perfect way to continue nurturing your potential customers from their point of discovery, to the moment that they're ready to buy from you. Rather than taking the chance that your customers will be one of the 2% that buy on their first visit, personalized retargeting gives you multiple chances to interact with your consumer and convince them to convert.