We’ve all been the person that visits a new site to take a look around, maybe even subscribe to a newsletter and then turn around and leave before the brand’s website has the chance to take us across the finish line. You’ve probably noticed that once you visit a site or check out a specific product that you start to see digital ads for it everywhere, popping up on your social media feeds and making their way into your email. Trust that this isn’t just coincidence. What you were experiencing was an online marketing strategy called remarketing, or retargeting.
Remarketing and Small Business
Depending on who you ask, remarketing and retargeting have subtle differences. For example, remarketing might focus more on reaching out through email while retargeting works primarily through display ads. Still, this is all just a matter of semantics since the end goals are the same – to lure back the visitor that slipped through your fingers and move them closer to conversion.
While remarketing ads are powerful tools for moving customers through the sales funnel, you don’t see many small businesses jumping on the bandwagon. Why is this? The number one answer is expense. Remarketing ads have a reputation of costing more than a modest marketing budget can handle. We’re here to tell you that doesn’t have to be the case, and that with the right strategy, remarketing ads can be a great, affordable online marketing strategy.
Powerful Remarketing on a Budget
Remarketing ads are one of the best ways of capturing additional revenue for your growing business. But, this can’t happen without knowing how to build a remarketing campaign to produce a great ROI. According to previous Google benchmarks, only about 4% of your website visitors convert before leaving. This means that you’re losing 96% of the people who visit your website on any given day.
Think about the potential if you could reach even a fraction of them and lure them back. When a visitor encounters a remarketing ad, through email, social media or other type of display ad, they are 70% more likely to convert. For small businesses with limited marketing budgets, this number is important because it illustrates how profitable a remarketing investment can be.
So, how do you run a remarketing campaign without breaking the bank? It’s all about analysis.
Remarketing ads can be expensive when your approach is too general. But, even the big guys with monstrous marketing budgets strategize with value in mind. Leveraging analytics to segment your audience by behaviors and their points along the journey is the first step to success.
Start with a strategy to spend less on remarketing ads that target the largest section of your market, say the ones just visited the first time and signed up for your newsletter. The further you bring this audience through the funnel, the smaller it gets. Meaning you’ll be able to more easily afford to spend a little more on ads that bring a small, very targeted audience that final step across the finish line.
Affordable Online Marketing that Converts
Mistakes with remarketing ads can be costly. We’re here to help you avoid those mistakes and direct you through a remarketing campaign that converts. Contact the digital advertising experts at Quincify today to learn more about remarketing options for small businesses.
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