Just 2% of first time visitors to a webpage actually convert to make a purchase. This percentage certainly looks very small; however, the fact is that we have to win over people much before they make up their mind to purchase something from your website.
You may feel satisfied in terms of the amount of traffic that you are getting on your website; however, you may not be satisfied when it comes to the amount of sales generated from that traffic.
At times, the right target people are the ones who have come to your website before or already had digital interaction in the past with you. Remarketing and retargeting will enable you to contact people that have high probability of making a purchase as compared to people who visited your website for first time.
This can turn out to be a very important marketing strategy when you want to generate sales from your website.
The goals of retargeting and remarketing are same. The differences they have in terms of who you want to reach are important ones. Let’s take a look at each of them and understand them clearly.
What is Retargeting?
There are multiple approaches in retargeting. In most cases it refers to placement of online ad or display ads, so that interaction can take place with users who visited your website in a specific ways.
When someone visits your website and click on something or perform a certain action, it triggers a cookie in their browser and this information can be used to ‘retarget’ such visitors by using advertisements on the basis of interaction the visitor had on your website.
Third parties such as the Google Display Network are the ones, who place these ads, and they appear on websites that are frequently visited by your target audience. Retargeting can be divided into two categories: off-site and on-site events.
The strategy that you should use depends on the interactions that you want to have with your target market. Let us take a better look at them.
Off-site Target Interactions: This group consists of people who have not interacted with you previously through your website, but they are similar to previous visitors. It will be good to add them to your prospective customers.
In case you plan to target people depending on the off-site interactions, you should target their searches.
Now there is a group of individuals who interact or searched for things in a manner similar to previous customers. Your retargeting strategy can comprise of pairing with a partner website that has the same target audience as your or depending on the interactions with distributed content.
On-Site Target Interactions: Most of the retargeting strategy uses this plan as it works on targeting people who visited your website already on numerous occasions. They are the ones who have interacted with your services, products or have performed some other activity. However, these people are the ones who did not made any purchase.
The chances of having a financial transaction on your website increases greatly when you try to interact with people who have already interacted with your website previously on numerous occasions. Some of the ways it is possible for you to interact with people who visited your website are as follows:
- Interact with them based on the product they showed interest in.
- Depending on how your website is found by them.
- Interact with people through the e-mail list you have created.
What is Remarketing?
Things are bit complex here particularly due to the fact that there is overlap at some places. At times, remarketing is referred as retargeting. Remarketing tools of Google is a good example of this, which in the classic sense are retargeting tools.
It should be remembered that retargeting and remarketing have the same goals. Understanding the terminology is not as important as understand the strategy associated with it.
Remarketing in majority of the cases is linked with email campaigns that allow interacting again with customers. This tactic involves interacting with people who added a product to their wish list or abandoned their shopping cart.
The purchase history of a person is tracked and interaction is established with them. An email can be sent to people who searched for a particular item or added them to their list of favorites. This type of approach is quite effective as such a person has already expressed interest in a given item.