How To Increase Your Sales Using Retargeting Ads
If you decided to read this blog post then that means:
1- you have consistent traffic to your website
2- you lose that traffic and have no way of connecting back to them
Having consistent traffic running through your website is important as per research ‘it takes 7 interactions with your business for a consumer to contact it’ these interactions vary between interacting with your business on social media, visiting your website and moving through its pages to actually filling in their e-carts.
However, what happens to those who left their carts full and left or old customers that have become unresponsive or those who scrolled through and stopped at certain products of yours and then bounced of the website ?
These people represent the majority of your traffic as new studies have shown that only 2% of people actually do purchase from the first time they enter your website. That means that 98% of your traffic leaves on the initial visit.
These are ads designed to retrieve all the website visitors back to that website!
This could be done on different Channels:
– social media
– Google platforms: Google Search, YouTube
If you don’t know yet which channel is the most successful for your ads then you need to test all the platforms related to your business to see which is the most successful and run with it
Benefits of retargeting:
- Increases Brand Recognition for your prospect customers.
- Has a lower cost than regular display ads since the targeted audience are already interested in your business.
- Higher CTR percentage as studies have shown that “the average ctr for display ads is 0.07% while the average ctr for retargeted ads is about 0.7%”.
Who to retarget and how?
There are five stages in the customer journey and 3 stages in the marketing funnel.
The two funnels correlate with each other. If your business is young then you only need to focus on MOFU (middle of the funnel) audience but, if your business has been standing for a while then you will need to focus on MOFU (middle of the funnel) and BOFU (bottom of the funnel) audiences.
MOFU: targets the Considering, Intention stages of the sales funnel; mainly people who are well aware of your company and brand and are interacting with your content.
BOFU: targets the Purchase stage of the sales funnel ; mainly people who want to purchase or have already purchased your products or services.
And in this article we are going to focus on MOFU
Now you know who you are targeting, before we see what type of content you need to offer them in your retargeting ads, let’s identify two kinds of retargeting ads; static and dynamic.
- Static retargeting ads: are generic ads meant for raising awareness and solidifying your brand more in the minds of your prospect customers. Moreover, in your business stage it isn’t used as much to drive in sales conversions
- Dynamic retargeting ads: these are ads specifically made for your traffic’s behaviour for each behaviour there is an ad;
People adding a bag to their wishlists
People adding a bag and a matching belt to their cart
People scrolling through the bags section and then bouncing
These are all behaviours that you can track, identify, and react to with your ad copy and you will be using this type of an ad more as it is more effective
One way to go about your content is to focus on the benefits of your product or service, how will it solve the problems your prospect customer has.
The other way is to actually represent the psychological state your customer is going to be in once they do purchase or subscribe to your business.
Two days ago I saw an ad on Instagram for a bags company, i was really interested in their ad so i clicked through to their website, from there I scrolled a bit and left, less than an hour later I was scrolling Facebook and what do you know, the same bag company was retargeting me with what I have to say a very compelling carousel ad
The ad showed one of their products in a different colour than what I was searching for; maybe they thought I wasn’t impressed by the colour or design and wanted to offer me something else!
The important thing is that they successfully made a mark in my brain or else I wouldn’t remember to include them in my blog!
Creating the perfect retargeting ad depends on how much you know how your buyer thinks, what they want, and how your products are going to affect their lives!
Yes their Lives, even if your product is a scrunchy; it’s basically a hair tie but maybe it doesn’t get untied easily so women can wear it while practicing!!!
Guess what pain point does your product solves… worrying that’s the one.
You are probably saving those women hours per month on tying their hair while they are in the middle of intense training, those hours if saved could get them to the next level.
When to retarget customers with ads?
In a recent study where Stanford Graduate School of Business marketing professors Navdeep Sahni and Sridhar Narayanan say: “If a user is not advertised to in the first week,” they write, “advertising later might not be effective.”
Our world is so fast now and we are more distracted and unfocused as ever, the retailers need to remind the consumers with their products/services, otherwise they will go out of our heads forever!!!
Know who your audience is and write/design to attract them to your products more and more and keep in mind that time is of the essence. This way you can increase your revenue rate and earn yourself new customers.