The Power of Retargeting
I live in a condo here in Toronto and I go to the gym nearly every day. For whatever reason, I see the same people frequently. While I’m typically there listening to my music, I feel “close” to these people. If I see them in the elevator, I start saying hello and because of this, I’m open to conversation.
If one of the regulars asked me for a favour, I’d likely oblige (plus I’m Canadian – we do that sort of thing).
The same situation as above happens in marketing and when we go online, we can extend this even further.
See, when we see something that relevant to us, with just the right frequency, our mind will continually be open to that concept, brand or person more and more.
Which is why retargeting is the most powerful tool ever invented. I asked Google what retargeting was and here’s what they said:
What that really means is that we’re able to track those who visit our website, those who are in our marketing funnel, those who watch our videos, listen to our podcast… and well, are potential customers.
Let’s go through a 5 difference scenarios so I can show you how powerful retargeting truly is:
Scenario #1: Relevancy hacking.
- You can build trust and authority by showing your potential leads content before you attempt to turn them into an actual lead.
- I go into a little more depth on this technique, which you can discover more about by clicking here.
- Someone is at the “purchase” or “conversion” part of your marketing and are ready to purchase, but just need a little push.
- You can retarget these folks with direct sale advertising.
- In our experience, 60% of our sales come from this type of advertising and typically have 10-100x return on investment.
Scenario #3: A little extra love.
- When someone is an active lead in your marketing funnel you can start targeting them with valuable information such as blogs, videos and other pieces of value to “upgrade” the relationship. Typically we see clicks at this ratio for less than $0.20 and under $1.00 conversions – well worth it, as it creates further intimacy in that relationship.
Scenario #4: Unsubscribed, but not for long.
- The majority of people unsubscribe not because what you’re offering isn’t relevant, but simply that the marketing stream they were in wasn’t relevant (or even they were having a bad day), you can retarget them for 7-14 days afterwards for different offers.
Scenario #5: Advanced targeting (super simple so setup).
- You can even use retargeting to bring leads through a series of different campaigns based on how long they are in a specific funnel, how many times they’ve been on your website or give them specific offers based on which page they’ve visited.
As you can see, there is an endless number of ways to use retargeting. It’s cheap, effective and has a HUGE return on investment.
How do you implement retargeting?
Well, there are actually a lot of retargeting options out there. The easiest way is to get started by using your Facebook advertising retargeting and as you start using online marketing more and more you can use more advanced platforms.
I’d love to hear how you plan to start using it in your marketing!