Here’s a troubling fact: 95% of the visitors who reach your website will never come back again.
Curious to see what your return rate is? Simply open up your Google Analytics profile and look at the ratio between new/returning visitors.
Let’s take a look at some scary industry standard numbers for those who are driving traffic to their online business:
- 99% of first-time visitors to your website aren’t ready to buy. That’s an astounding figure really. There are several factors that can impact this number such as needing to develop trust in a brand, digital cost comparisons are ever so easy and the e-commerce world is highly competitive.
- 95% of website visitors don’t provide an email address. This will vary amongst industry’s. If you have a lead based business you want to be capturing emails of at least 20% of website visitors.
- 68% of shopping carts are abandoned. We’ve all done it – we’re shopping online, we add a few things to our cart, then we start to second-guess. Perhaps you didn’t have your credit card handy or you didn’t want to use paypal. The big question is how do we recover this loss of traffic?
So how do we fix it?
Most marketers make the mistake of treating their visitors as a “disposable audience”. Most salesmen know that it is much easier to pick low hanging fruit. There is a way to apply this to your marketing strategy and it can lead to explosive growth for your business.
Retargeting: Recycle Your Traffic
Retargeting is a tool that’s been around for awhile now, but a lot of marketers still haven’t put it into practice.
Retargeting, also known as “remarketing”, is a way to stay in front of your prospective customers with display ads that follow them around the web.
Ever shop online? You’ve probably been retargeted. Let’s say you’ve been window shopping for a holiday to Europe. Somehow, magically, that same flight starts showing up in your Facebook news feed.
It’s not a coincidence, it’s retargeting!
Retargeting Is Kind of Like Dating
Why do we use retargeting? It allows the user to get to know you better. As with dating, the key to marketing is building relationships and trust. Retargeting works in a similar way. Someone comes to your website, they don’t buy, you re-market to them, and they keep seeing your ads everywhere. Especially since 99% of first time users will not buy you want to get them back to your site to keep building that relationship. Educate them more through blog posts, webinars, training materials, e-mail follow-up sequences, and then ask them to buy. Buy giving them something of value develops trust and shows them the quality of your product or service.
How it works
There are two ways to approach retargeting:
Site-Based: Site-based retargeting is the most common approach. When a user visits your site, they are “tagged” (cookied) through a pixel provided by a retargeting platform. Once a user is tagged, you’ll be able to serve them ads throughout a broad network of websites and apps.
The beauty of this approach is that you can set up refined campaigns based on the pages that users did (or didn’t) view. For example, a user reached a checkout page but did not complete their order.
Why didn’t they buy? Maybe they didn’t have their credit card on hand, maybe they ran out of time, maybe they wanted to shop around. Whatever the reason, retargeting gives you a second, third, fourth chance to close the deal.
List-Based: List-based retargeting is also known as “custom audience targeting” and “CRM Retargeting”. Unlike site-based retargeting, which targets visitors of specific pages on your site, list-based retargeting uses email addresses.
With site-based retargeting, users are tagged directly when they interact with your site. With the list-based approach, a retargeting vendor will use a network of data partners to tag a user based on their email address.
The applications are endless. Do you want to re-awaken cold leads that haven’t visited your site in awhile? Segment your list and get back in front of them. Want to up-sell existing customers or advertise a complementary product? List-based retargeting is a powerful tool at your disposal.
As with all aspects of digital marketing, retargeting is a commitment. You have to test and tweak your messaging continuously. Build spilt test landing pages and tailor marketing automations for different customers depending on where they are in the buyer journey.
Social selling tools like Facebook and Pintrest are great mediums to implement retargeting. Are you using retargeting methods in your social strategy? We would love to hear your thoughts and tips.
If your lost on where to start with your digital marketing campaign get in touch with us today so we can build you a winning strategy.