As a business that leverages digital marketing to make sales, you should know that advertising is crucial in driving customers to your website or online store. But what if 98% of people who visit your website or store for the first time are not ready to convert?
According to statistics, only 2% of new visitors will convert on their first visit to your website, and they need to revisit your site (at least six more times) before you can expect them to make a purchase. Take into consideration that the latter may never happen.
Why wait forever to attract customers who have already shown an interest in your product or service, when you know you can quickly lose them to competition the moment they leave your website?
If you are still running your online business using the principles highlighted above, then you are still in the dark ages because most of your competitors are already leveraging new marketing techniques like retargeting to retain and convert new leads.
Retargeting is a digital marketing technique that allows you, the advertiser, to target users who visited your website without making a purchase or completing your call to action, depending on your campaign goal. Overtime, retargeting had proven to be a very effective means of reattracting visitors, especially when they were so close to completing your call to action the first time around.
Retargeting ads are 10 times more likely to get clicks when compared to display ads. It is no wonder that over 91% of advertisers say they find retargeting more effective than both email and display marketing. If you have a business that is continuously generating new leads through other marketing channels, then you cannot afford to ignore retargeting.
It is the best marketing strategy when it comes to conversion rates. It boosts conversion rates for website visitors by about 70% when done alone, and by 147% when combined with other marketing strategies like prospecting.
First off, you need to place a pixel on your website. The pixel is a snippet of code known as a “cookie” that serves to track your visitors.
When users visit your site, this tracking code (cookie) is automatically sent to their computer. It follows them around the web, allowing your ads to easily find them no matter where they are on the internet.
Like we mentioned earlier, retargeting can only work when you have other marketing channels working to bring in new leads for your business. On their own, these marketing channels can only convert 2% of whatever new leads they bring in. Retargeting is how you make sure that the other 98% do not go to waste.
The majority of your audience might not know what retargeting is, so having them come across your brand everywhere they go on the internet can leave a good impression, making it look like you are widely popular.
Retargeting audiences are high-value targets because they have already shown interest in your product or service. However, getting them to complete a purchase makes them even more valuable and enables you to upsell or cross-sell similar products or services they might be interested in.
It is not wise to put effort into generating new leads without converting them. That is why retargeting is your go-to marketing strategy. It can increase your conversion rate, brand awareness, and also the click-through rate of your ads.
Infographic URL: https://digitalmarketingjobs.io/blog/retargeting-statistics/
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