Sellpoints/ ReTargeter’s VP of Client Services & Strategy, Marlo Schneider, was recently quoted on the American Marketing Association’s blog describing the ins and outs of Retargeting.
Below you’ll find a brief summary of her key points. The original article is available for viewing at the American Marketing Association’s blog.
Ad Retargeting a Top Marketing Strategy
Of all the new must-have digital marketing strategies brought about by the explosion in online shopping, ad retargeting is one of the most prevalent.
Unlike the physical world, where brick-and-mortar businesses welcome window-shoppers who ultimately leave empty handed with vague promises to “think about it,” retargeting lets businesses follow up with those shoppers later on, keeping them interested and, ultimately, converting more of them to buyers.
What is Retargeting?
Retargeting, experts say, is a fancy term for a simple concept: Advertise to internet users who have viewed products or services online but left before buying by purchasing ad space on other websites.
You Get What You Pay For
It’s important to have a retargeting strategy in place before engaging in open bidding. “The auction is automated and occurring in real time. You can bid extremely high to win all the possible impressions, but that’s not necessarily a good strategy. The best strategy is to set targeted parameters, and this requires a combination of great vendors using the best technology,” says Marlo Schneider, director of client services and strategy at Sellpoints, Inc., a provider of e-commerce channel sales solutions.
The Personalization Factor
Retargeting ads can be customized to offer special discounts to entice users to buy. They can also be used to upsell, offering accessories to already purchased items, or can be a platform for presenting entirely new products or packages. Retargeting ads can also be adjusted to offer more facts about a service over a long campaign, so prospects will continue to receive new information about a company instead of just looking at the same ad month after month.
One area of retargeting that offers bedrock certainty is quantitative measurement of a campaign’s impact. By entering a few codes provided by the advertiser platforms, marketers can track site visits, nurture touches—reaching out to existing contacts with your retargeting display ads, with mid-stage or late-stage offers or content—and both the number and cost of conversions.
“The most important metrics to track your retargeting’s effectiveness is cost-per-acquisition. Make sure that when you’re setting up your campaigns, you have conversion pixels placed on all of the relevant success events that you want to track,” Schneider says.