Remarketing strategies have recently become more common as businesses have realized how much more valuable it is for them to keep their existing customers and entice their existing audience to buy from them.
Most of the contemporary outreach and marketing methods make use of retargeting strategies. Tools are coming up in the market that make data available to businesses in ways that make it easier to apply effective retargeting strategies.
The whole point of creating and implementing a remarketing strategy is to reduce a company’s marketing costs and efforts by showing ads as well as organic marketing content to those who have already shown some level of interest in the brand or business.
It requires a little experience in marketing for somebody to come up with effective remarketing campaigns. It has to be someone who is aware of the traditional marketing methods, but is also well versed in the digital means of marketing.
People who develop great remarketing strategies are skilled at search engine optimization techniques and social media marketing. They know the pros and cons of using different means of marketing, and have experience in observing certain marketing plans fail. They have a keen eye for the changes in trends and tastes of consumers, and can foresee the result of a strategy that they recommend.
Today, we will talk about the benefits of remarketing strategies, but before that, let’s define what a remarketing strategy is.
What is Remarketing Strategy?
Remarketing strategies are ways to run paid advertisements with their reach targeted to those people who have, or at some level, interacted with the company or brand in the recent past. They are a means to reinforce a marketing message to people who have supposedly received the message earlier as well, but have not yet been fully convinced to want to make a purchase.
Remarketing strategies are commonly used by large companies as part of their digital marketing schemes. These companies have large budgets available to keep running paid ads for penetrating new markets. To make their advertising campaigns more cost effective, they strive to get sales from a certain group of people whom they have already approached in the recent past, before showing their ads to new groups of people who have not yet even heard about their brand.
Why Are Remarketing Strategies Important?
Remarketing strategies are important because they reduce the wastage of advertising expenses. The goal is to increase the return on the investment made in running ad campaigns. This is done by trying to get the maximum number of people who were shown the ads before to get closer to make a purchase.
The focus in remarketing strategies is not on showing ads to different categories of audiences, but to get the most sales from the sale category or group of target customers.
Retargeting strategies are important for the following main reasons.
- They help in reducing the overall ad expenses.
- They tend to increase the effectiveness of advertising campaigns.
- They help businesses identify their buyer persona more specifically.
- They allow businesses to gather more data about their target customers.
- They contribute to the learning curve of businesses regarding the changing market trends.
- They get businesses more vested in the various digital means of marketing.
- They allow businesses to focus on their long-term marketing goals.
- They force businesses to keep coming up with more effective retargeting strategies.
9 Effective Remarketing Strategies
Here are 9 different remarketing strategies that a business can implement to increase its sales.
1. Target All the Website Visitors
Everybody who has visited your website at least once is going to be familiar with your brand, the products you sell or the services you offer, and the overall image of your website content. These people have a better chance of becoming your customers than someone who has never even heard of your brand or visited your website yet.
Therefore, a good remarketing strategy is to run ads that are targeted specifically to your website’s past or recent visitors. This could even mean if somebody visited your blog only and read through some of your articles, you target ads to them so that the next time they visit your site; they buy something from you as well.
Image taken from Strikingly user’s website
There are tools and features available on most website building platforms that allow you to observe and track your website’s visitors. For instance, if your website is built on Strikingly, you can access your website’s audience list from the dashboard. In this audience list, you can view the visitor’s name, email address, and any message they have sent. This list does not give you the details of everybody who has opened your site, but at least provides information about those who have interacted with your site in some way.
Image taken from Strikingly
You can create an ad and target it specifically to these people, using the email list that you get from your Strikingly website’s audience data. This technique is among the most commonly applied remarketing strategies.
2. Target Similar Audiences
When an ad campaign is created in Google, you have the option to edit your targeted audience for each ad group. One option is to target ‘Similar audiences’. This option serves as one of the popular retargeting strategies. It allows a business to show its ads to those who have similar characteristics as those on your existing retargeting lists.
3. Use Auto-Targeting
This is another remarketing strategy that is applied automatically if you do not key in your target audience characteristics when you create a new Google Ad. The Google bots choose to show your ads to those who are similar in characteristics to the ones you have targeted in the recent past. The more aggressively you use auto-targeting, the broader your target audience becomes.
4. Use Dynamic Remarketing
If you use the dynamic remarketing strategy, the product suggestion engine of Google Ads will show your products and services to those who have previously viewed those items on your website. The ad layout that is likely to perform best will be chosen automatically by the suggestion engine. It is chosen based on the device that the people are using. Among all the remarketing strategies, this one is the easiest to set up.
5. Re-engage Those Who Leave Abandoned Shopping Carts
When a customer abandons a shopping cart, it means they were very close to making a purchase but something bothered them at the last minute. As much as it is important for a business to identify what bothered them at the checkout page, it is also critical not to let go of these customers. Trying to re-engage your abandoned shopping cart customers is one of the most important kinds of remarketing strategies.
6. Cross-sell or Upsell to Existing Customers
Cross selling in digital ads is just like cross merchandising in a retail outlet. Sometimes, customers who have bought something from your online store may want to be given something complementary. These are called your ‘converted customers’. Only targeting the converted customers in your ad campaigns would be referred to as using another kind of a remarketing strategy.
7. Showcase Various Product Categories
This is where you create a list for each of your product categories, and then run a separate ad targeted to each category. For example, if you sell clothing via an online store, and retarget the existing customers of the women’s apparel separately while those of men’s wear separately, you are using this type of remarketing strategies.
Image taken from Strikingly user’s website
8. Retargeting by Time Frames
This is when you set a certain time frame and target customers after a certain amount of time has passed after they made a purchase from your store. This is one of the time-based remarketing strategies.
9. Using Bid Strategies
This is a very common form among all other remarketing strategies. When a business is satisfied with the results of its remarketing strategy, it raises its bid so that it can reach more customers in the next campaign. The bid can be placed on one or more of the following.
- CPC (cost per click)
- ROAS (return on ad spent)
- Maximum conversions
- Maximum CPC
When you raise your bid, you intend to improve the return on your investment by placing your ads in a better position and increasing the chances that it will be consistently shown to your targeted customers on the Display Network sites to those who are on your retargeting list.
At times, businesses create separate remarketing lists for various durations of memberships. For example, they might want to target those who visited their site in the past 30 days separately from those who visited or subscribed to your site in the past 7 days. By separating these two groups of customers, they can choose which group to show ads to more aggressively than the other.
Image taken from Strikingly user’s website
For example, an ecommerce store selling food items could target those more aggressively who very recently visited their site, assuming that those people would be craving for their food more than someone who visited their site a long time ago.
Image taken from Strikingly user’s website
Getting familiar with these different remarketing strategies can benefit your business in terms of sales volumes, sales revenue, and increased ROI on the advertising expenditure.
When a company uses effective remarketing strategies, it can make use of its site’s data to get the most out of all its digital advertising campaigns, especially if its website is running smoothly and its web design is up to the mark.
If customers find your website appealing, they will naturally be more inclined to visit it more often and make purchases from your online store. If you would like to build an awesome website for your brand, try out our platform, and learn how to make the most out of your online store with Strikingly.
