The Facts Behind Retargeting: How Is Your Digital Marketing Mix Affected?
Retargeting is the hottest buzzword in digital marketing today. By targeting “lost” visitors, retargeting enables businesses to generate more traffic and yield better conversions. Some of the biggest brands in the world have invested heavily in retargeting, especially through the popular Facebook Exchange.
So, what does retargeting actually mean for your business? Most importantly, how does retargeting affect your digital marketing mix?
Below, we’ll take a look at some facts behind retargeting and examine how it can affect your small business marketing:
1. Ninety-eight percent of visitors leave without buying
A typical ‘successful’ marketing campaign will yield only two customers out of 100 visitors. This means that 98 percent of your marketing budget is being “wasted”. By targeting this lost traffic with offers and products they’re already familiar with, you can dramatically improve conversions.
2. It takes up to seven interactions to turn a lead into a customer
Many times, it takes several contacts before the lead turns into a paying customer. Retargeting makes it possible to interact with customers who’ve already been on your website once, helping you land more sales.
3. Twenty percent of marketers have a dedicated retargeting budget
Nearly every big brand has an active retargeting campaign. In fact, retargeting is one of the big reasons why Facebook managed to grow its revenues to $2.1B in the last quarter.
4. Thirty percent of customers have a positive reaction to retargeted ads
Seeing a product ‘follow’ you around the internet can put off some consumers. Yet, statistics indicate that most customers do not mind such ads, while a strong minority even feel positive about it. Many even consider these ads a ‘reminder’ for what they were looking at previously. This means you can add retargeting to your digital marketing mix without alienating your site visitors.
5. Retargeting can boost ad response by 400 percent
The retargeting process basically captures lists of people who left your site without performing a particular action (purchase a product, sign up for a list, etc.). As this list grows, it becomes possible to reach an even larger audience.