Most people don’t have any intention of buying anything when they first visit your site. That first visit is almost always due to curiosity and to find out more information. Statistically speaking, most sites only have a direct conversion of 4% or less. In other words, not many.
One of the ways to connect with them even if they don’t sign up for your email list or buy something is through a retargeting campaign. A retargeting campaign involves using code called a pixel to install on your website so that the platform you run the ads on - whether Google, Facebook, Twitter or something else - knows to deliver the ads to the people who have already visited your site. By delivering ads to people who have already gone to your site but did not convert, you can improve conversions exponentially.
To be successful...
To make sure that your retargeting campaigns are as successful as they can be, you should consider three primary goals. Before you set those goals, however, it’s important to know how many people are visiting your site during a specific period of time as well as what your conversion rate is for those people (without any retargeting). Knowing this will help you understand how well your retargeting campaign is working and help you reach your conversion goals. Here are the goals you need to be concerned with:
Goal # 1 - IMPRESSIONS
How many times are people going to see your advertisement? How many times do you want your audience to see them? The more money you pay for your advertisement, the more people who will see it. However, it’s imperative to get your targeting right before you up the ante.
Goal # 2 - CLICKS
This is an important goal to have. If your site normally has a 4 percent conversion rate, it is likely that your advertisement will stick to about the same conversion rate. But since you’re remarketing to them, that will up your overall conversion rate; therefore, you need more clicks to make the math work. Easy right?
Goal # 3 - CONVERSIONS
Actual conversions you think you’re going to get is critical to know. You can base that on your normal conversions directly on your site, as mentioned above. This is going to allow you to figure out your cost per conversion too. Don’t forget to consider the profit you’ll make per purchase in your goal setting so you know how much you can spend on your ads.
Ready. Set. Retarget.
With everything set up correctly in your retargeting campaign, the way it works is when a potential customer comes to your site and doesn’t buy (they may do nothing or they may put something in their cart and leave it there) and then later when they are surfing the web, they’ll see your ad, and it will capture their attention. Why? Because now they’re likely going to remember or recognize your branding and because you’re no longer an unknown, they will be more likely to click on the retargeting ad than someone who has never heard of you.
With retargeting, you are able to deliver specific ads to specific people who have visited your site before. This is a powerful marketing opportunity for any business. Your return on investment will pay off big time when you learn how to run a retargeting campaign with the right goals.
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Holly Kile - Marketing Assistant