This topic has been growing on me as I started to realize the benefits of it. Many marketers have different ways to drive customers to a web site and ultimately make an online sales or submit an inquiry for a service. Typically, they will us things such as Search Engine Optimization (SEO), display marketing (online banners), Paid Search (Google AdWords or Bing) and perhaps some experiential marketing across social media channels.
Sadly, these channels tend to be operated in silos, with each of them having stand-alone metrics such as impressions, click-through-rates (CTR) and conversions. What if we could understand and leverage customer behavior from one channel to refine strategy and tactics on another channel. This is exactly what re-targeting is trying to address.
According to Wikipedia, ”Behavioral retargeting (also known as behavioral search retargeting, or simply, retargeting) is a form of online targeted advertising by which online advertising is delivered to consumers based on previous Internet actions that did not in the past result in a conversion”.
”Retargeting helps companies advertise to the 98% of people who visit a website but leave without converting. This is done by displaying ads to the prospect as they surf the internet via various ad networks that the agency buys media from on behalf of their Business Customers. Most likely a company has spent marketing dollars to get a customer to their site in the first place, so the term Retargeting is derived from the concept of marketing to them again, however in a different manner.”
Pretty powerful stuff. I was looking for case studies to demonstrate the effectiveness of re-targeting. In a e-commerce environment, a retailer has been able to achieve an increase of 22% in conversion rates (for return users). In a lead generation environment, a bank has been able to increase Click-Through-rate (CTR) by 22% on its display advertising.
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