Did you know that only 2% of shoppers convert during their first visit to an online store? You read that right. On average, only 1 in every 50 people who visit your online store will convert during their first visit! So, what about the other 49 people? They likely have left your website to explore other options. But there is good news - they aren't lost forever. In fact, there is a very powerful marketing strategy which can increase your average conversion rates by 147% and that is remarketing, also known as retargeting (Social Media Today).
What are Remarketing Ads?
Remarketing ads are digital advertisements that target users who have already visited your website. While most commonly run through Google and Facebook, they can also be found in email strategies, SMS text advertising, and other social media platforms. They are extremely successful because they target users further down the sales funnel including cart abandonments, previous purchasers, and leads who have familiarized themselves with your brand but have taken no further action.
One of the most common types of remarketing ads is Google remarketing. Google utilizes a snippet of tracking code on your website to identify users who have visited and taken other action on your site. After collecting this information, Google shows your ads to those users elsewhere on the web. Users may see your remarketing ads on other websites they browse, via the Google Display Network. You can start out as broad as you would like (target all site-wide visitors) or narrow your audience based on specific pages visited or actions taken. Over time, we recommend getting more strategic in your approach. The more focused your display ads are and the more targeted you get, the better your conversion rates will be.
Similar to Google, Facebook remarketing is managed by adding a tracking pixel to your website and gathering data about your visitors. Once the pixel has had time to gather visitor information, you can develop an array of audiences within Facebook Ads Manager, ranging from all website visitors to targeted sub-sets of users who have taken specific actions. After you have your audiences created and your ad developed, you can choose to show your ad in users' Facebook feeds, Instagram feeds, messenger, and via the Facebook Audience Display Network (a network of third party sites, similar to the Google Display Network).
An extremely popular type of Facebook remarketing, specifically for e-commerce, is the dynamic product ad (DPA). DPAs use your remarketing audience to show a dynamic carousel of products based on the individual user's personal view history on your website. In other words, a customer visits your website and looks at a few different products, then leaves. Later that day, the customer is scrolling through their Facebook feed and sees an ad with the exact products they were looking at earlier in the day. On average, Facebook DPAs have a higher CTR and conversion rate than non-DPAs.
If you are looking to add these powerful ads to your strategy, contact the experts at Informatics. Well-versed in remarketing best practices and platforms, our digital marketing team can increase your sales and grow your customer base.