Advertising is part of our lives and we can’t do anything about it. The concept of an ad-blocker became popular in the recent past and everybody that that was the death of ads, but no. Websites just decided not to show content unless your ad-blocker was disabled. When all of the websites started doing this, people had no choice except to disable ad-blocker.
Ads are like cockroaches, it is very difficult to kill them. The biggest tech businesses in the world Google and Facebook run on advertisements and its not going to change. But ads can be annoying, intrusive, unnecessary and a waste of time. So how do we make this better?
We make ads that are more targeted to a particular customer and target customers who have shown interest in a product. This concept exists and it’s called Remarketing.
Remarketing works based on cookies that get logged on to a user’s browser when they visit a website. These cookies track the user and follow them on all the websites they visit with very specific ads. Now this may seem too intrusive, but here are the benefits.
- The users see ads that are relevant to them and ones that they have shown interest in
- More often than not, the seller gives a discount to attract the user back, which is money saved for the user
- The seller is also able to improve his conversion rate on ad spends
Remarketing is not for everybody. It is generally for businesses that are transactional, and that are selling a product. So it may not work for SAAS based businesses or App based companies. It generally doesn’t work. It doesn’t mean it’s impossible to use remarketing for these kind if products.
So why is Remarketing powerful?
Remarketing is powerful because you as an advertiser can target the customer based on the reason they left the site without transacting. What are the possible reasons a customer might have left?
- The products were too expensive.
- Shipping costs were high
- They found an alternative
- The time to deliver the product was too long
- They just decided not to purchase
When the reasons for not buying are clear, you as a marketer can create very specific ads that cater to the reason. If the products are expensive, you can give them a small discount. If shipping is too much, you can give them free shipping. If they want the product faster you could give them a faster delivery service for a higher price.
Remarketing kind of works like Déjà vu, where a product keeps coming in front of your eyes and entices you.
Goals based Remarketing
If you are a hardcore marketer then you know the metrics that are important to your business. If you have been tracking for a while then you know the metrics are different for a user who purchases and the user who doesn’t.
For example, more often than not a user who stays for longer than a few minutes and who visits more than a few pages are likely to make a purchase. This is subjective and changes based on the business. If you are able to identify the users who have reached the favourable metric scale, then you can push that decision faster by pushing out a remarketing ad.
This is an incredibly powerful tool and Ads backed with data can be very effective for a business.
Here are some Ideas. Find out what X is for your business.
- Target users who have spent more than ‘X’ minutes on your site
- Target users who have visited more than ‘X’ pages on your site
- Target visitors who have gone to the Checkout page and haven’t transacted
- Target visitors who have interacted with your content on your site but haven’t made a transaction
- Target users who have come multiple times to your website but haven’t transacted
Sometimes people from a certain demographic are more likely to purchase and people searching for a particular product are more likely to purchase as well. From your analytics understanding your best selling demographic and best selling products to make a sale.
You can also remarketing effectively during the holiday season because people are more likely to buy a product at that time.
Another use case is, collecting your users date of birth of anniversaries where they are more likely to purchase as well.
That is the power of Remarketing and hopefully this article has given you ideas to execute. If crafter carefully, Remarketing can give you unprecedented returns that is unheard of in the e-commerce space.