Ron Dod, Visiture
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Here’s a hard truth about the eCommerce industry: 98 percent of consumers don’t buy on their first visit to a brand’s site. In fact, it takes multiple interactions with a company before a consumer is willing to purchase. According to Salesforce, it takes six to eight touches to generate a sale.
Meanwhile, other sources claim it can require as many as 10 touches to make a sale. No matter how one looks at it, engaging a consumer multiple times is a requirement to increase conversion rates.
No matter how one looks at it, engaging a consumer multiple times is a requirement to increase conversion rates.
It is this dynamic that makes retargeting marketing such an essential tool for eCommerce retailers to employ. By following consumers around the web with personalized adverts, sellers can effectively engage shoppers enough times to score a sale.
To help sellers increase their company’s bottom line, here is what they need to know about retargeting marketing and how to deploy it effectively.
What Is Retargeting Marketing?
Retargeting is the process of dropping a cookie on a website visitor’s browser as a means to identify them as they move across the web and serve them with personalized advertisements via popular online destinations.
Today, eCommerce retailers can create retargeting marketing campaigns through platforms like Google, Twitter and other social websites. Moreover, by setting up Facebook retargeting ads, merchants can not only target previous visitors but prospective buyers that closely resemble visitors or existing customers.
In fact, customers are fine with giving up some of their information for a more custom experience. As Retail Dive reports:
“63 percent of consumers surveyed are interested in personalized recommendations, and the majority of them are willing to share their data in exchange…”
The Benefits of Retargeting Marketing
Retargeting ads are incredibly advantageous for retailers who are looking to bolster their brand awareness and optimize eCommerce conversion rates as merchants can generate unique, personalized adverts.
Given that the ads cater directly to a consumer’s interests, retargeting efforts are quite fruitful in terms of generating an exceptional ROAS.