RETARGETING FOR SMALLER BUSINESSES
We've all seen it, one minute we're searching for a Valentine's treat for our partner and later when we're booking train tickets next to the boss, they get a glimpse of whichever provocative item that is shown on the ads targeted to us! This is an embarrassing by product of a re-targeting method, rarely used well by small business.
There are a lot of benefits to retargeting ads online but as we're not sure that the smaller businesses have the confidence or know how to take the steps in this field of advertising; we thought it's worth exploring for those of you out there pondering this option.
So let's look at what the small businesses may explore when they think about spending money for marketing materials.
Point of sale displays
Whilst we're not diminishing the value of these marketing materials, the purpose of retargeting ads are about keeping your brand in the minds of people who have already shown an interest. We've evaluated some of the benefits of using them:
- Budget - They can be a cost-effective way of reaching customers who have already expressed an interest.
- Retargeting ads usually have a higher click-through rate as the ads are being served to people who have already visited your site.
Refining your reach
- They encourage those lost conversions for another chance - When an initial experience may not be enough for a user to convert, retargeting gives that second chance.
- Focused advertising - You can have audience lists for specific areas. For example, target a user that didn't complete a goal you've set i.e a purchase from a checkout cart or are CTA, for example.
- They allow for tracking and performance statistics so you can see how your ads are performing and what you're paying for!
- If you're a new business to the market, users may have visited your site and forgotten your name, retargeting allows you to 'remind' them.
- They aim to increase brand exposure to potential customers that have already shown interest in buying the products and services you sell.
- Mixing ordinary display with retargeted can compliment your brand.
Planning Your Strategy
Listing Your Audience
Retargeting ads do need some pre-planning to get the most out of your campaign. Defining who your audience is and what you intend to achieve by targeting them sets the strategy in place.
- Visitors who’ve simply visited your site but haven't explored your products
- Visitors who viewed products but didn’t complete the call to action presented to them, download, buy book, etc
- Past engagers to who have bought from you previously
Set Your Goals
Goals allow us to define and measure success.
- Brand awareness, putting the brand in front of customers at the right time
- Viewing a product, you might be pushing a certain product on the products page. If the user hasn’t clicked on an individual product you can set a goal so that if they don’t they are targeted with some of the individual products
- Completing a purchase
So what are the methods of retargeting for you to consider and what platforms are they available on?
There are a fair few methods and platforms for retargeting ads. For the most reach, Facebook and Google are amongst the best options. However combining these are probably more effective, depending on what your business is.
Facebook and Instagram
Facebook retargeting is used by inserting a pixel onto your website, if that user is signed into their Facebook account when browsing then they're applicable users to serve your ads to. Facebook serves well for those that want to take advantage of the social sharing aspect, a special offer or promotion for example.
Google works in a similar way. However you are targeting users via google's ad display network.
Dynamic ads are scalable, they scale with your products or services to cover your entire user journey. This is a prime example of where you would use your goals to determine what ads are served.
If a goal you created wasn't completed by a user they can be moved to a separate list for retargeting ads, these ads can encourage them to complete that goal, that purchase in the checkout, or clicking on the promotion CTA within the promotions page. Once the user makes that goal the ads either change or are no longer served.
Dynamic ads require a bit more legwork from the business, there needs to be an entire feed of all products and services, with unique ID's images and prices. Note some of the bigger companies do this with creative display. But the option to not have this is cheaper and manageable for the smaller business by using the assets you already have.
Whilst all the other examples are more about targeting those at the very top of the marketing funnel, email remarketing is more about converting those who are at the bottom of the funnel. It works well in some cases better than others. Abandoned shopping carts are common reasons for email re marketing, the purpose is more to upsell and cross-sell.
So how can smaller businesses take this step?
Decide what platforms you want to use, test out, or what combination works best for your audience. In most cases like anything its trial and error, you will learn more about your marketing decisions based on the stats and performance results from your first few campaigns!
Platforms such as Google provide user-friendly instructions to get started.
The key thing to remember is to be prepared for some trial and error, it's the benefit of being able to invest in an advertising tool that provides you with performance stats!
If you want anymore info about targetting ads or how digital tactics can work a bit harder for you, feel free to drop us a line and ask.