Retargeting Ads: What Are They?
It’s happened to you before: you visit a website in search of a new gadget and all of a sudden, you start seeing ads for the gadget all over the Internet. You see the ads when you’re reading the news, when you’re scrolling through your newsfeed on Facebook, even when you’re researching recipes for the best pumpkin pie for your Thanksgiving dinner. I’m sure you’ve concluded that this isn’t coincidence. Essentially, when you visit websites, a cookie is stored on your computer to indicate that you’ve visited that site before. Ad services look for these cookies to determine which ads are best to deliver to you at any given moment.
This might seem a bit creepy, but in reality, retargeting ads can be helpful for people searching for a product or a service. How often have you gone in search of something, only to run out of time and postpone your search for later? Retargeting ads can help you find what you were once looking for, saving time and effort. On the flip side of things, companies who purchase retargeting ads stand to reap a great deal of profits. Here are six reasons why your company should be buying retargeting ads.
1. People Who Previously Visited Your Site Are Interested In What You Offer
When someone comes to your website it’s likely that they are looking for something that you offer. People abandon searches for a lot of reasons. Perhaps they got a phone call or had to pick up their kids from school; they might be busy business people with a full schedule an little free time; or one of the more likely reasons, they aren’t quite ready to buy. No matter the reason, if someone left your website, getting them back can be tough. They may forget that they were looking for your product or service all together. Retargeting ads help remind them and encourage them to come back soon.
2. People Don’t View Online Ads Unfavorably
If you’re thinking that people hate online ads, you’d be wrong. In reality 30% of people view online ads positively and 59% of people have a neutral view.1 It’s easy to make assumptions about what people think based on your own perceptions, but data unveils a great deal of misnomers when it comes to online advertising. (Hint: Many older Americans use Facebook.)
3. Visitors Who Are Retargeted are 70% More Likely to Convert2
This is a no-brainer. You could go and spend all of your marketing budget on attracting visitors, but who is a more likely target? Someone who has never heard of you or someone who has visited your website before? Seventy-one percent of marketers spend between 10% and 50% of their ad budgets on retargeting. Most people don’t flush their money down the toilet every day.
4. Retargeting Ads Have Click Through Rates That Are 10x Higher Than Standard Display Ads
Display ads are only so effective at generating traffic. Actually, only .07% of your audience will click on your display ad, but retargeting ads generate a click through rate of .7%.3 This is largely due to the fact that they are already familiar with your brand and because they have at least a slight interest in your products and services.
5. Retargeting Across Channels Further Increases Your Conversion Rates
In addition to running retargeting ads on the broader web, you can now run ads that retarget your visitors on Facebook. According to AdRoll, using Facebook ads alongside Web campaigns can increase conversions by 73%.
6. Retargeting is Cheap, Cheap, Cheap
Retargeting costs around $.10 per visitor per month. To translate, if you have 1,000 visitors to your website this month, it only costs $100 to show those visitors your ads over and over again over the next 30 days. Of course you have the option to retarget visitors beyond 30 days, but your best opportunity to recapture their business is sooner rather than later.
Ready to Get Started?
So perhaps it’s time to invest in retargeting. There are many great services out there that will help you get started, Adroll is one of them. We’ve partnered with them to deliver retargeting ads for our own clients. Keep in mind that a well-executed campaign incorporates testing of different ad designs, the creation of landing pages, the measurement of results and regular refinement. While getting started on your own is better than doing nothing, if you’re looking to hit the ground running, give us a shout. We’ll be happy to provide a basic education and we’ll put together a retargeting strategy that performs well beyond the averages.