As an online business owner and marketer, you need to be familiar with all the ways that you can put your brand in front of your target market and grow your client base. However, it’s just as important—and in some cases, even more important—to pay attention to your customer retention compared to your customer acquisition. Aside from retention being so much cheaper than acquisition, it’s also much more profitable. In addition, putting the focus on customer retention may be more effective at strengthening your brand loyalty and advocacy.
As such, it’s crucial that you learn a few techniques to aid in your retention. One of them is remarketing, which is a unique conversion strategy aimed at converting returning customers or those who have already expressed an interest to purchase your products or make use of your services.
For example, if a customer clicked “add to cart” on a shopping app but didn’t proceed with the checkout process, they can be sent an email reminding them of that item. Another scenario is if the customer actually bought the item. In that case, the follow-up remarketing action is to send them an email featuring a list of recommended items that they may also like.
If you haven’t tried remarketing as part of your overall web marketing campaign, you may be missing out on several opportunities to earn fresh revenues from your customers. Indeed, when used to its full potential, remarketing can have a significant positive impact on your online business. Below are some key points to remember about remarketing.
How Are Remarketing and Retargeting Different?
One of the first things you need to understand about remarketing is that it’s similar, but also markedly different from retargeting. With remarketing, the main focus is on email for re-engagement. Meanwhile, with retargeting, you are essentially re-serving ads to customers (repeat or not) based on how they interacted with your brand before.
How Does Remarketing Affect Your Business?
Now that you know the difference between remarketing and retargeting, you can use both more effectively for your business. Below are some examples of how you can drive up your customer retention using the former:
Remarketing can have a positive impact on your overall search engine optimization (SEO) efforts by increasing repeat website traffic from returning customers and improving your overall click-through rates. Your remarketing efforts can also contribute to your site reputation in a positive way, as well as help you save on advertising costs.
However, keep in mind that to achieve the best results for your remarketing campaign, you need to be a little more hands-on with your strategy. Make sure to work with a Philippines-based SEO agency that is reliable and trustworthy, and that you can visit physically so that you can leave both remarketing and campaign management to the professionals.
If you’re running an e-commerce business, remarketing is one of the most effective ways to boost your conversion numbers. This is because when you remarket, you’re talking to people who are already familiar with your business and your products. At the very least, they’re aware that you exist. This means that they’re easier to convince, as opposed to potential customers to whom you still have to introduce your brand.
What’s more, remarketing offers your business the chance to be more personalized in its approach to customers. This makes it more likely for your audience to respond in a favorable way, i.e., close the loop and buy.
Minimizes the Impact of Cart Abandonment
One of the biggest problems hounding online business owners and e-commerce shop managers is the abandoned shopping cart. Not only do you lose a customer and customer value with it, but you also increase the costs of customer acquisition costs and retargeting. The click-through rates of your ads may also suffer on top of your website’s performance.
Through remarketing, however, you can make customers return to their shopping carts and make the purchase. The key is to entice them with a little extra, say a free shipping voucher or a discount on their next purchase. Eventually, you’ll have fewer cart abandonment incidents and the negative impact won’t be as drastic.
As mentioned above, remarketing is all about talking to the people who already know about your business. This lowers both your cost per lead and cost per acquisition, which means you’ll have a higher return on investment (ROI) compared to other online marketing methods.
Of course, the increased ROI will only be realized if and when your remarketing campaigns succeed. Thus, it’s best to regularly gather data and derive insights so that you can make adjustments to your campaigns and materials.
More Engagement and Reach
What’s great about remarketing is that it’s not only a good tool for conversions. It’s also very effective for increasing brand awareness, engagement, and reach. Again, those you get in touch with through your remarketing efforts are those who are already familiar with your business and brand. Thus, when you send them an email, they’ll be more likely to interact with it.
As such, it can be helpful to expand your remarketing campaigns to include both conversion and engagement. This will allow you to achieve two goals in one for your business website.
It can be a struggle to run an online business these days, especially when the space is much more competitive than ever. Fortunately, if you’re familiar with strategies like remarketing, you can use them to your advantage and put your brand at the top of your customer’s minds.