Article | July 21, 2021
There are several marketing strategies and methods to promote your brand, but only a few of them provide afavorable response. Retargeting is one of them that gives marketers authority to attract its potential customers after losing them once. Moreover, its unique features assist in boosting the conversion rate by an incredible 161%.
More than 97% of potential clients who visit your website for the first time leave without buying anything. They are lost forever unless you retarget them.
Retargeting approach recalls your past website visitors who left without taking any action. Through retargeting statistics, you become more aware of your target audience and approach to show your visitors appropriate visuals or text ads when they visit other websites. There are different kinds of retargeting advertising platforms that marketers use to influence their visitors and increase their customer loyalty,such as Facebook retargeting, Google ads, LinkedIn ads, etc.
Some of the marketers are confused about retargeting and remarketing. Bothterms are used these days interchangeably. The objectives of both are the same, but there is a slight difference between both of them.
Retargeting is an unavoidable marketing strategy that gives desired results. So let’s look at some of the valuable and essential retargeting statisticsthat can help you re-engage your potential customers and convince them to purchase your product or service.
Website and Retargeting
Only 3% of visitors come back to your website who visit for the first time and leave without purchasing anything.In other words, you can say approximately 97% of visitors leave the website without purchasing anything. It shows that you are losing the massive majority of traffic without doing anything wrong.Retargeting was invented to approach those visitors in a very sophisticated, relevant and, resourceful manner. That is the reason retargeting statisticsis beneficial to know the visitors and their requirements.
Approximately 87% of businesses execute site retargeting.There are mainly four types of retargeting. Site retargeting is one of them broadly used by marketers hidden in Google Adwords setup. Site retargeting is a time-consuming process that maintains your quality score. It needs in-depth research and willingness to experiment to find the most effective approach.
An appropriately executed retargeting campaigndecreases cart abandonment by 6.5%. Shoppers abandon carts for many reasons such as shipping issues, planning for in-store shopping, lack of payment options, etc.
Digital Marketing Campaign
Facebook is one of the best result-driven platforms for effectively executing marketing strategies. It has the biggest social network with more than 2 billion monthly users. It is also one of the most used platforms for practicing retargeting strategies.
Near about 90% of businesses believe retargeting performs better than other digital marketing strategies. Search, email, display advertising, or other marketing strategies are considered less effective than retargeting. The ability to re-engage with the maximum of viewers who weren’t ready to convert upon their first interaction with your brand is what makes retargeting the most potentpiece of your digital marketing campaign.
Online Visitors Perception
25% of online audiences are positive about seeing retargeted ads. They are happy to see retargeted ads as they are alluring and something that might be of interest. It evokes customers’ interest in purchasing products or services and boosts brand credibility.
70% of online visitors easily convert with retargeting. These users who visit a website are more likely to convert than those who are not retargeted. Retargeted ads empower the campaigns and boost click-through rates. The conversion rate for retargeting is 128% which variesbased on the niche or industry.
Businesses and Their Marketing Goals
70% of businesses utilize retargeting to enhance brand awareness.Brand awareness is one of essential aspects as it is the first step of the marketing funnel. It allows your target audience to recognize and believe in your brand. Prominent businesses focus on building positive brand awareness and perception of the brandrather than only selling products. They believe that other brands cannot influence the buyer’s mind after creating authoritative brand awareness.
More than 27% of e-commerce businesses are investing in retargeting. As a result,E-commerce retailers have experienced high ROI, gain insights, and received more sales by implementing retargeting. Retargeting is also cost-effective, which continuously evolves as technology becomes more advanced.
Retargeting ads assist B2B marketers in reaching their marketing goals. As a result, more than 71% of customers get aware of the brand, sales enhance by 55%,and the lead generation boost by 39%. Retargeting is simply a fascinating and powerful tactic to reach desirableoutcomes.
Different industries are investing their time, energy, and money in retargeting. For example,27% of retail, 17% of tech, 10% of healthcare, 9% of finance, 8% of education, 5% travel, and 4% of agency websites execute retargeting to reach their objectives. The number is increasing day by day as they find it a unique and result-driven strategy.
33% of businesses utilize retargeting to find new customers.In addition, over one-third of businesses found that retargeting insists customers share retargeted ads with their family or friends that help the brand to gain new customers.
46% SEO businesses believe retargeting is the most underused online marketing strategy.Despite the increasing popularity and awareness of the benefits of retargeting, it is still underused.Search engine marketers believe that retargeting assists SEO in performing better and enhances conversions.
Retargeting is a fantastic way to provide positive ROI, boosting sales and conversions, enhance brand credibility. The average CTR for retargeting ads is ten times higher than regular display ads. The marketers use different kinds of retargeting ads as per their requirements. Here are some common kinds: cross-channel retargeting, account-based retargeting, email retargeting, customer retargeting, buyer persona retargeting, etc. Retargeting ads have multiple benefits. It builds brand affinity, makes your SEO strategical approach efficient to perform better, and gives intended results.
These retargeting statistics elaborates on the importance of retargeting in converting online visitors into long-term customers. It also shows that marketers found this strategy valuable and spend worthy. It is essential to keep best practices in mind for maximum benefit while using retargeting.
Frequently Asked Questions
What is retargeting, and why is it important?
Retargeting is the process of reminding your website visitors of your product or service after they leave without purchasing your product or service. It gives authority to marketers to again attract its potential customers after losing them that helps in increasing the ROI of your campaign.
Why is retargeting important for ads statistics?
Retargeting is important to know more about the target audience, their interests, requirements so that you can show them relevant and informative ads soon. Knowing your audience better enhances your strategic approach.
Why is retargeting essential for any marketing funnel?
Retargeting helps all the seven steps of the marketing funnel to perform in a flexible and better way by re-engaging potential customers. It builds a strong connection with your target audience.
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"text": "Retargeting helps all the seven steps of the marketing funnel to perform in a flexible and better way by re-engaging potential customers. It builds a strong connection with your target audience."
Article | January 27, 2021
As we enter 2021 with a fresh and positive mindset, we are also entering the New Year with a brand-new set of tactics to help reach new consumers by placing brands, products and services at the forefront of desired audiences.
When it comes to brand marketing, storytelling is pivotal when trying to create relationships with consumers. By utilising emotion and taking a humanistic approach in this, brands are able to provide consumers with reasons as to why they should buy into their products, without a pushy, non-emotive hard-sell.
And with that in mind, Matthew Hayes, Managing Director at brand agency Champions (UK) plc, explains why storytelling is a must-have tactic for the year ahead.
The art of storytelling
Now more than ever before, resonating with the audience on a personal level is key, and what better way to do that than through storytelling.
Marketing doesn’t always have to be about a direct sales pitch, but rather a connection and relationship that has been built up over time. And with that, comes brand loyalty and customer retention.
When done effectively, storytelling is truly an art within itself. Sales should equate to product education rather than direct instruction. And it is this, that makes people subconsciously realise their need or want for a product or service.
Storytelling takes the customer on an educational journey, allowing them to understand the brand, what it stands for, what the benefits are to them and why its products are good value for money. This then leads customers to build strong feelings of want and desire, rather than just need.
This is all part of creating a brand. Customers begin to feel something about it, which is want warrants a business or product the status of a brand. And it’s this emotional connection that differentiates you from being just a commodity seller based on price, and positions you as a recognisable ‘brand’ that people engage with on a deeper level.
And research demonstrates that messages delivered as stories can be up to 22 times more memorable and effective than facts, which is why brand storytelling is a must-have tactic for 2021.
How to tell a story
Creating a compelling narrative requires a carefully devised long-term strategy. But, while this is an important element, what is perhaps the defining factor in commercial success is its ability to resonate with us, as humans.
Storytelling should be powerful and filled with emotion, in whatever capacity that may be. From laughter and happiness to sadness and grief, emotion can come in a plethora of varieties.
Emotion is what captures the consumer and when a story is both personable and relatable, it builds brand love and deepens the connection between the brand and the consumer.
Not only that, but emotion also impacts the purchasing decisions of consumers and without it, businesses are much less likely to make that all-important sale.
And if brands combine emotion with consumer needs, then they have the recipe for success.
With the rapid onset of digitisation across all industry sectors fuelled by the COVID-19 crisis, the way in which a brand tells their story is having to change in order to keep up with the times and meet the newfound needs of consumers and channels.
With the plethora of channels and shortening attention span of the consumers, video content is the best way to evoke emotion. Put simply, videos are more engaging and because of that, will continue to play an increasingly important role in the marketing mix throughout 2021.
They are easy to understand, digest and share and typically create a deeper connection between the brand and consumer, meaning that people will resonate with it much more.
Storytelling done right
No one is better at brand storytelling and investing in emotions than the world-famous Disney. From its theme parks and hotels to its films, merchandise and staff, the entire brand has been built from the ability to tell a story, and consistency of delivery.
For consumers to truly connect with a brand, they must implement consistency across their strategy, messaging and storytelling. And while there may be creativity in the way these messages are conveyed, the underlying messages and ethos must remain to be consistent.
The Disney experience plays a pivotal role in the brand’s story. It’s narrative and essence completely come to life when consumers interact with its offerings, taking on a role within the storyline. In doing so, deeper emotional bonds are created, bringing the brand to the forefront of both people’s minds and memories.
Similarly, gym-wear brand Sweaty Betty have also become well recognised thanks to its ability to tell a story. What began as a normal brand selling high-quality gym-wear that sat outside of the norm, became known worldwide for changing its narrative by becoming so much more than just a provider of gym-wear.
Sweaty Betty is not only a brand for women, created by women, but a brand that listens to its consumers. It’s messaging such as ‘respect your sweat’ and ‘empowering women through fitness and beyond’ is reflective of inclusivity, body positivity and raises awareness of diversity, using its brand, products and people to continue to tell that very story.
A must-have tactic for 2021
In order to keep up and remain at the forefront of consumers’ minds, brands need to focus their strategies on telling a story.
Storytelling is as old as mankind, dating back to cave paintings and the bible. And modern-day storytelling allows brands to use the full extent of multi-channel media, applying to all of the five senses. It allows the brand to educate, taking the consumer on an educational journey rather than advertising, which can only convey one message at a time.
It can build in sub plots, ethos, ethics and values, bringing the full personality of the brand as well as the people behind these brands to life, while also highlighting how these ‘personality traits’ mirror those of the consumer.
It is through this 'bonding' that the consumer can feel for the brand, rather than simply seeing or knowing about it. Feeling is a pivotal part of branding, and without it, the brand and its products, are just a commodity, based on nothing more than consumer needs and cost.
Brands are consumed based on a want or desire, with price being far less prevalent. Therefore, brands offer businesses far greater profit margins and a more loyal consumer base - the holy grail.
And when executed effectively, the story helps build brand love through evoking a deeper, more authentic connection with its consumers.
As a result, brand storytelling is priceless, and quite simply a must-have tactic for 2021 and beyond.
Article | March 4, 2020
The rage of social media has led to the emergence of social networking. With that, the competition to engage the audience on online platforms and entice them has become fierce. Brands are adopting novel strategies to enhance customer experience and increase brand value. The advent of technology and a myriad of innovations has reinvented the marketing industry. Amongst many, artificial intelligence and augmented reality are an integral part of the digital marketing landscape. AI and its applications have not left any sector untouched, and its forms are far beyond mundane.
Article | August 12, 2020
The depth of customer engagement depends, in large part, on how personalized the shopping experience is. If a customer feels like a brand knows them as an individual among thousands of other customers, they will purchase more from that brand, more often, and remain loyal.
The path to 1:1 marketing is paved with personalization, and while there are many personalization tools out on the market, it’s hard to understand which one(s) to pick. This can become particularly challenging when distracted by a shiny UI — though usability is, of course, vitally important to the marketing teams who desperately need personalization tools.