Now, before starting, let's hear some common facts. Did you know that it costs five times more to gain a new customer than it is to satisfy and retain current ones? People who already know you and have made purchases are easier to persuade. Window shoppers who only browsed your platform but never opened their wallet. You can convert all of them into regular loyal customers. The answer is Retargeting.
What is retargeting one might ask? Retargeting, also known as remarketing is a marketing approach that involves reminding your target audience about your brand or products in order to elicit a response or action. People who you're retargeting have already gone through your sales funnel. These clients may have completed a purchase in some cases. In certain cases, they may only make it halfway through your sales funnel before quitting it.
If you don't remind customers of your greatest products, you're leaving money on the table in both circumstances. For individuals who have already made a purchase, retargeting can assist introduce them to other products available in your store, causing them to return to make additional purchases. Retargeting might remind consumers of the thing they were so close to purchasing if they abandoned their cart before checking out.
What Can Retargeting Help You With?
Retargeting, when done correctly, can:
Precision targeting lowers the cost per impression.
Increase conversion rates to increase ROI.
Effectively position your brand in the forefront of people's minds. If your clients are aware that you exist, they will remember you the next time they are in the market for that product.
Retargeting can be done in a variety of ways :
Email marketing campaigns
Retargeting messages should ideally revolve around the following topics, regardless of the platform you use:
Customers are reminded of your brand/presence
Reminding a potential consumer of an item they haven't yet purchased
Customers are being enticed to make a purchase by offering incentives.
Upselling, reselling, and cross-selling are all terms for the same thing.
Promoting related items that existing customers might be interested in
Promoting to on-the-go customers to remind them that they may buy from anywhere