Retargeting for Small Businesses: The Basics
When a business is starting, personal relationships often produce the first customers, partners, and employees. The most successful companies never lose sight of relationships as the foundation of their business.
You might not think of digital marketing in terms of building relationships. But it’s an effective way to gain clarity on what your strategy should be.
Digital marketing can be intimidating for small business owners. It’s unclear as to which platforms and tactics will deliver the best value. Developing a clear strategy is seemingly a never-ending puzzle.
If you think of your marketing budget as a way to build relationships with shoppers, then how you engage them becomes more clear.
Today’s connected shopper expects relevant, useful, and complementary interactions with your business. It’s a fine line — capturing shoppers’ attention while respecting their experience.
Approaching it thoughtfully is the difference between short-term sales and loyal customers who drive repeat sales and advocate your business to their friends.
Consider that 96 percent of your website visitors won’t buy initially. An effective digital marketing plan should include ways to stay in touch with them so they keep your business in mind and learn more about its products and services. One of the best ways to do so is retargeting.
A Primer on Retargeting
If you’ve visited a website and then noticed ads from that business appearing in your Facebook feed, Instagram feed, or on other websites, you’ve observed retargeting. These ads can help recover abandoned shopping carts and offer personalized deals to shoppers.
Many businesses use retargeting to create highly relevant ads with sophisticated analytics and optimized creative. The key to effective retargeting is relevance. It’s the difference between a random ad and one that’s been tailored to the recipient. The less intrusive and more relevant the ad, the more interested the shopper will likely be.
Relevance includes where, when, and why a shopper sees an ad. If a shopper viewed a shirt on a website but didn’t buy it, the appearance of that shirt in her mobile Facebook feed might serve as a compelling call-to-action. The ad recognized an item she considered, appeared where she frequently browses, and offered a smart reminder.
A Few Terms to Know
Digital ads personalized in real-time for shoppers, based on items they’ve browsed.
Return on ad spend is the amount of money earned for every dollar spent on an ad campaign. It’s a good way to establish the efficiency of advertising.
A lookback window is the time that has elapsed from a shopper seeing or clicking your ad and when he converts. Lookback windows of 24 hours, 30 days, and 60 days are common measurement periods.
Re-engaging shoppers through email marketing. It includes a strategy for gathering shoppers’ email addresses.
The number of times your ad is exposed to a shopper over a defined time. Finding the optimal frequency is the key to maximizing conversions without alienating shoppers.
How Retargeting Works
By combing shoppers’ intent and behavior, retargeting can be profitable and build strong relationships. But how do you know a shopper’s intent? How do you know who is interested in your business and where to reach them?
The actions of shoppers will signal their interests. For example, visiting a product page on a website or downloading an app is a strong indicator of interest.
Retargeting technology uses short snippets of code to know the actions of shoppers and to re-engage with them on the sites they visit and devices they use. Retargeting then displays ads to those shoppers based on what it knows about their interests.
For example, if a shopper visited a product page for a pair of shoes but didn’t purchase, an ad that retargets that shopper might display the same shoe and include a 10 percent discount. Or it might include a related shoe that could interest the shopper more.
Retargeting Done Right
Avoid common retargeting mistakes of displaying ads too frequently or too soon after visiting a site or having no relevance to the shopper. Those mistakes can turn off shoppers and prompt them to dislike a business — the opposite of what advertising is supposed to accomplish..
Done right, therefore, retargeting is a smart reminder system to shoppers. It keeps potential customers interested in what you have to offer. It’s a scalable, efficient way to drive sales.
The Retargeting Experience for Shoppers
A shopper browses products on your site.
The shopper leaves your site without buying anything.
While browsing on another site or social platform, the shopper sees an ad reminding her of your products.
The shopper returns to your site later to make a purchase.
Criteo (NASDAQ: CRTO) is the advertising platform of choice of the open Internet, an ecosystem that favors neutrality, transparency, and inclusiveness. More than 2,700 Criteo team members partner with roughly 18,000 customers and thousands of publishers around the globe to deliver effective advertising across all channels, by applying advanced machine learning to unparalleled datasets. Criteo empowers companies of all sizes with the technology they need to better know and serve their customers. For more information, please visit Criteo.com.