How to do retargeting and is it different to remarketing. We explain both and advise you on both methods and results so you can play with the big boys.
First of all lets clear up some confusion between these look alike concepts
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- Retargeting
pixel base
Email based
Pulling in a new audience from advertising and direct marketing.
Remarketing
Contacting old or slow moving customers to reintroduce them to new opportunities
Retargeting vs Remarketing
While retargeting focuses on pulling in new audiences or customers through ads on social media, email or other platforms, remarketing often focuses on sales or marketing emails sent to re-engage customers.
On the other hand, to re-engage a lost or inactive customer, you might decide to use remarketing.
This tactic aims to improve customer relationships by utilizing marketing tactics that maintains a dialogue on an interest.
Essentially, if you want to give customers an incentive to purchase again from your company, turn to remarketing.
For customers that are already acquainted with your brand and have shown a need for your product, create a personalized message to reignite their interest. For example, if your company offers a membership, re market to those whose memberships that are expiring and are up for renewal.
A customer of mine used this method on their old customer group with SMS. Around 150 SMS cost $25 where as the 40 new bookings earned over $6000 for one time booking. A great return that they now do every month.
Re-market old customers re-target new ones.
How to plan your remarketing
Awareness.
Staying in front of mind is necessary in every market however branding does not pay any bills in the short time.
Generally using pixel based marketing this can be considered a warm up for the real deal. You will not be sure where in the product cycle your customers are so building awareness can provide an easier platform for targeting.
Pixels are snippets of code that allow you to gather valuable information about website visitors and what actions they took, so you can send them ads that are most relevant to them. Pixels are vital for measuring campaign performance, tracking conversions, and automatically building audiences based on behavior.
Eventbrite
Retargeting pixels track visitors to your website and allow you to send advertising campaigns to them if they leave without taking action. They are the ad popups that appear after you have searched for a product. Generally seen on Facebook, Bing, Adroll and Google adwords.
Conversion goals.
This is the art of getting people through the funnel and either buying a product or be ready to spend money.
Contacts may have downloaded a free gift, filled in a contact form, asked a question on your Pop Up or shown an interest in some way.
Targeting these can be by Pixels, list based marketing or response to an offer.
Every week I produce a newsletter extolling the value of our service but using a lead blog on a product of interest. This has achieved a growth in actual clicks from a low 1.5% to nearly 7% over a couple of months. As I deliver about 6500 emails that will give about 450 customers that like what I offer. Now I shall re-market them with an incentive to act or enter a buying cycle.
A 2% conversion would mean an annual income of over $6000, not a bad days work.
Ways to re-market
Above I have used an email example mainly because I love cheap methods of acquisition and email is probably the best at this.
Social media provides a great platform to re-market your clients and none is better than Face Book.
Not only can you target your own clients but find look alike clients using Facebook.
How to re-market on Facebook
- Gather an existing list or use pixels
- Place the list in Facebook audience manager
- Determine your URL destination
- Segment your add for specific audiences
- Set your budget
- Create an add
- Track your progress
Remarketing on Instagram
As Instagram is owned by Facebook the design and costs are similar. Facebook and Instagram run on the same Ads platform, Facebook. Once your business entities are connected, your Facebook Pixel will work for Instagram as well.
How to Remarket on Instagram:
- Create a custom audience. This will be the audience you want to re-market your ads to. then create your campaign. Go ahead and create a new ad campaign, and choose your objective.
- Design your ad. Next, it's time to add in the creative assets..
- Launch the ad.
- Analyse the results
The one that works best is the one to use. Do a sample run and build from there.
Plan your marketing budget
If you want to spend money, and remarketing will do this, make sure you are targeting a positive return on expenditure.
if you are selling a truck a single sale may well justify expenditure well into the future. However if you are selling lollies you need a whole packet of sales.
What results will you get with Remarketing?
In a report by Hub Spot a well respected authority they did a campaign that attracted some
650,000 unique visitors a month. However what was really interesting was the 8% per month growth rate.
It is understood that over 96% of your website visitors simply leave without so much as a hello.
Furthermore of those that go to your shopping cart around 70% will not complete the transaction.
Finally by using buyer emotions you can increase repeat visits by a huge 50% and increase the time on your site by a factor of three. This will therefore improve your SEO as well as future sales.
The main emotions listed by Hub Spot were
- Awe a huge 25%
- Laughter 17%
- Amusement 15%
- Joy 14%
- Others by the balance
Good content is not enough
For ad creation I use a free copy of Canva. This allows you to get really creative in picture building with your calls to action.
Content is not enough you need visual and lead words to succeed. We selected one that is a good example of Facebook marketing.
This comprises great Visual appeal of a lifestyle more that the car. It is relevant to those that want a soft hatch. The clear value proposition is the excitement in life.
I would like a stronger take action line however cars you love to drive sends a message.
Remarketing is building the need
They have been and they have seen however they have not acted so your job is to build the desire.
Get them back to your website and through to the shopfront.
Now for retargeting.
It is all in the ad and these pointers from Hubspot show the way to an easy commercial:
- Use keywords to rank on search.
- Solve a problem for your audience.
- Ask your audience important questions.
- Include a customer or user testimonial.
- Evoke a sense of urgency in your copy.
- Use data points.
I love this next example because it adds extra dimensions into the image.
It certainly has intrigue backed up by real numbers, you would have to wonder what the 30 things are that would take you back time and time again.
Pixel retargeting uses remarketing software and unnoticeable codes (AKA the actual retargeting pixel) on your website or in the HTML templates of your emails. It places a cookie on a user’s browser, which lets you track their online behavior.
The email addresses in your ESP are your email list subscribers. If someone already has a history with you, you can use your segmented email lists in your ESP platform to identify where people are in the customer journey and what retargeted emails to send them.
Targeting is to a different market
CRM marketing.
Use your contacts to target when you understand there history and needs.
Email Marketing.
You know what they clicked and where their interest lays.
Abandoned cart marketing
Glory be how ready are the nervous Nelly's
Active subscribers
Offer them associated products, Amazon are a master at this with stories of products others also bought.
This brings in the social proof element an important ingredient.
“It ends up being recovered revenue you probably wouldn’t have made at all. There’s no way to know for sure, but it’s almost certainly revenue that you probably wouldn’t have gotten back any other way. And when you consider how much you earn back compared to how much it costs to do email remarketing, it ends up being a no-brainer, low-hanging piece of fruit. Why wouldn’t you do it?” – Adam Saraceno, head of marketing at Peak Design
There is more on this at Active campaign.
Conclusion
First of all this is a heady subject and I should have broken the two down into different posts as they are different even if the outcome is the same.
This is an outline to take you further and evidence that it cannot be ignored.
For instance peak designs state they get a 12% recovery rate from an abandon cart with two emails. One 30 minutes after the cart is abandoned and another 30 hours later.
Neil Patel details a lot more on this Peak design example.
It works for me and will certainly work for any business that can gain success with a touch of skill and training.
Furthermore it may pay to use a professional service to save you time.
Finally test and retest before throwing money away because you never know
How to do retargeting by Peter Hanley
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