Retargeting Customers to Grow Your Business in 2023

It has become essential for companies to strategically retarget customers along with customer retention in this competitive world. Retargeting customers can bring great revenue to the company, apart from creating a brand image and strong customer loyalty. Retargeting is a marketing strategy that can help you target the right audience at the right time with the right message. Its purpose is to convert website visitors into customers who actually purchase your product or service.

According to a survey, only 2% of website visitors actually proceed to purchase the product or service and make the transaction. These statistics show the importance of adopting retargeting strategies for re-engaging the remaining 98% of the website visitors and turning them into potential customers who return to the site to make a purchase.

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How retargeting works?

Retargeting starts when you load a tracking “pixel” on your website by which you can follow the customers who bounced off your website. According to the pattern, you can create and place an ad on unrelated websites that customers visit. It might seem like stalking, but it is a very effective strategy to position your product or service in customers’ minds. Let’s explore how retargeting can effectively work for your company.

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1. Retargeting the right audience

For retargeting customers, you need to funnel and segment them into different groups according to their behaviour. With this behavioural retargeting, you can divide your customers among groups such as:

• Cart abandoners

Retargeting is a must strategy when your customers have surfed through your website and added products to the cart but couldn’t complete the transaction for whatever reasons. Such cart abandoners should be your first target while setting up your retargeting strategy.

• First-time visitors

First-time visitors are those who visited your website and browsed through your products but didn’t return to the website to make their “first purchase”. Though they show interest in your product, they might need further convincing to purchase a product.

• Repeat customers

Many customers may be loyal to your product or service, but it is important to retain them to emerge as a brand leader. Here, retargeting would refer to reminding customers about new or existing products that may suit their needs.

• Recent visitors

It is important to look for recent visitors and continue with their follow up by displaying your ads on different websites, as well as when customers search keywords or phrases related to your business.

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2. Retargeting at the right time

Retargeting e-commerce customers at the right time is essential, specifically while launching an ad campaign. You have to pinpoint your retargeting campaign according to the audience you are dealing with.

• Immediately

Retargeting customers as soon as they leave your website without purchasing any product or service is effective. Place an ad that reminds them to visit your website and complete the transaction of the product they either left in the cart or are interested in.

• Special occasions

One of the best times to retarget customers is during the holidays or special occasions. This will help you to gain a bigger audience subtly. Also, it will be easy to get their attention towards a new product, service upgrades, or any other such events.

• Sporadically

You should set the frequency of your ad being displayed to the customer. When your customer buys the product, make sure you don’t inconvenience them with continuous ads.

• Before items expire

By tracking the purchase history of customers, you can retarget them by offering them a chance to re-order before the deal expires or before the product goes out of stock, especially when the shelf-life of the product is about to expire. These products may be related to cosmetics, food purchases, printer cartridges, or any subscriptions.

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3. Retargeting with the right message

Retargeting allows you to get back your customers who left after visiting your website. However, the right message must be delivered to them at the right time. Here are some ways by which you can develop an effective message for your segmented audience.

• Design

Ensure your company has an eye-catching logo accompanied by a strategic call-to-action (CTA).

• Language

You should precisely write about your product or service in your ad. Also, use active voice when preparing your CTA. It will help your customers to re-engage easily.

• Feature

Segmenting your audience and preparing different ad campaigns can help re-engage the customers with your website. For instance, you can provide special offers such as free shipping to first-time visitors while upselling or cross-selling items to target repeat customers.

• Link

Your CTA should have a link that re-directs the customers to your website.

• Demographics

Creating a personalized ad for retargeting customers based on their interests is better.

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Why is retargeting an essential part of marketing strategy?

Retargeting e-commerce customers is the one thing you need to focus on developing your marketing strategy. Being a comprehensive digital strategy, it can help you track users who have visited your website but left without making any purchase. Though it can’t drive traffic, it acts best at conversion optimization. Here are some of the major reasons why you need to incorporate retargeting as a part of your marketing strategy.

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1. Channelize multiple platforms

By retargeting, you get to interact with your potential customers through different platforms by which you can persuade them to return to your website to make a purchase. These platforms include Facebook Ads, Google AdWords, Twitter Ads, and other mobile platforms.

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2. Cost-effective

Marketing your product or service to your target audience can go over your budget. But, with retargeting as your strategy, you can cost-effectively identify your right audience by collecting the data of website visitors. Accordingly, you can create display ads or campaigns for converting those visitors into your loyal customers, thereby saving your time, cost, and efforts.

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3. Raise brand awareness

As a strategy, retargeting may not always bring you conversions, but it will surely raise your brand awareness. When you reach out to your website traffic, you are creating a robust brand image while differentiating yourself from other brands or companies. So, though retargeting may not boost your sales, it would boost your credibility in the market.

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4. Influence purchase decisions

When users see your personalized ads on different websites they visit, they feel valued. These ads continuously remind them to go to the website and purchase the product or service. At the same time, it is important to adopt behavioral retargeting of the users by doing funnel research according to their interests, needs, motivations, and desires.

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5. Improve advertising approaches

While displaying personalized ads to the users based on their shopping history and browsing history, it is important to track prospect users who can convert into customers. You can monitor the reaction of the users to improve your ad campaign according to the responses received.

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Retargeting strategies

Retargeting allows you to re-engage users who left your website and remind them of the product or service they are interested in. This leads to an increase in sales and creates a distinguished brand image. The best three retargeting strategies you can use to get back your customers are as follows:

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1. Track shopper’s navigation

The best and popular retargeting strategy is to “captivate” your customer. There might be instances when a user visited your website, browsed through products and services, added the product to the shopping cart, but didn’t proceed to make the payment. Or simply, a user visited your website without adding anything to the cart. In this case, you can target users based on different websites that the user visits, depending on their browsing history. You can come up with a personalized ad and display it on the different websites that may be related or unrelated to your product or service. Thus, you have to trigger the user by sending the right message to the right target audience at the right time.

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2. Focus on keywords

One of the easiest ways to retarget customers is to focus on keywords. After customers have searched for some keywords or phrases related to your product or service, you can come up with different ads for your website. This is an effective strategy for reaching users who have not visited your website and whose e-mail address you may not have. Focusing on keywords and personalizing ads accordingly gives you an opportunity to reach a new pool of customers.

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3. Use CRM effectively

CRM or Customer Relationship Management can be a valuable asset when it comes to implementing retargeting strategies. CRM is related mainly to offline collected data of your customers obtained through loyalty programs or other offline schemes. This can provide you with deeper insight into interested customers and help retarget them easily. You can upload all the data directly on the platforms of multiple retargeting providers and then develop a campaign for the segmented audience on your e-commerce website.