Chances are that at some point after browsing multiple sites when shopping online, you have suddenly decided against buying that item you had sitting in your cart. Removing this item from your cart or just leaving it in the cart without purchasing it has positioned you to be susceptible to remarketing. If you then return to your personal social media accounts, you may receive an advertisement that showcases the very item you were looking at.
This process is no coincidence, and it is certainly not your “personal FBI agent” persuading you to spend more money. This process, known as remarketing, is a business advertising strategy.
How Does It Work?
Remarketing can be incredibly beneficial for your business, but it is incredibly effective for developing conversion rates on potential buyers. Studies have shown that customers want to feel like they know a business first and that most people do not convert on their first visit to a website. This is where the remarketing strategy comes in. After the initial visit to your site, a user will see advertisements for your business on several platforms over the next day, week, or month. This will ensure your business stays at top of mind, therefore, promoting your business to users who want to buy what you are selling.
Applying Remarketing to Your Business Strategy
While remarketing often works extremely well for e-commerce, it can also fit other types of business structures. Businesses providing services can also benefit from remarketing.
The process can occur across different platforms where people view advertisements including:
- Microsoft Advertising
- And other advertising platforms
The premise behind this marketing strategy is that your business has already overcome the biggest hurdle which is connecting with your audience in the first place. Remarketing capitalizes on the customer’s interest that is already in place to give you a better chance of receiving their business.
What Are The Benefits?
Remarketing allows you to hyperfocus the advertisements your potential customers are seeing. This is done by developing the ads to include specific items or services the potential customer had been viewing or had placed in their cart when they visited your website in the first place. These ads can also be specially curated to include a discount or special offer to customers who have interacted with you so that the customer has more of an incentive to come back to the site.
A large incentive behind this marketing tactic is that it can be a huge money-saver. Remarketing serves as one of the most cost-effective marketing strategies. Potential customers that have already visited your website are further along in their purchasing journey, making them a better lead. Because remarketing identifies these leads, you can specifically serve advertisements to these people with the knowledge that these users already have a basic understanding of your business. Curating different advertisements for customers in different stages of their purchasing journey can ultimately save you money in the long run.
As a marketing strategy, remarketing can be utilized in a variety of ways. This tactic allows your advertisements to be presented as multiple different media from photos to graphics and even videos. Remarketing ads can be placed on a range of platforms across the internet from social media platforms, Google, and other websites.
How Inner Spark Can Help
At Inner Spark, we understand the increasing importance of a business’s digital brand. We actively work to execute effective digital marketing strategies based on the current technological trends. We aim to be your marketing partner so that we can help you grow your business. Our team will help you by developing an effective marketing strategy designed specifically for your business that includes our recommendations.
We would love to partner with you strategically to ensure your marketing budget goes to good use. When it comes to employing remarketing as a strategy, we will work to ensure your customers and potential customers do not forget about your business. Contact our team today to learn more about how we can effectively use remarketing to develop your leads and increase your bottom line.