How Dynamic Retargeting Helps Increase Your Conversion Rate
Despite retargeting becoming an established part of digital marketing, many businesses are still uncertain about how it can help them grow and how it should be used properly. Retargeting is a cookie-based technology that uses Javascript code to anonymously ‘follow’ your audience as they browse the Web. When a new visitor comes to your site, the code leaves a browser cookie that will later inform your retargeting provider when to serve your ads. For most websites, only 2% of web traffic converts on the first visit. This is a tool designed to help companies reach the 98% of users who don’t convert right away.
Retargeting is so effective because it focuses your advertising on people who are already familiar with your brand and have recently demonstrated interest. That means they’re already one step further down the sales funnel. This just helps keep them in it.
Dynamic retargeting takes this a step further, letting you show previous visitors ads that contain information that’s relevant to what was already viewed on your site. For example, if a customer abandoned their cart on the checkout page, it’s possible they might be iffy on shipping costs. If this is the case, your dynamic ad could include a coupon for free shipping. In a sense, dynamic retargeting enables you to create customized ad campaigns for each visitor. With messages tailored to your audience, dynamic retargeting helps you build leads and sales by bringing previous visitors back to your site to complete what they started.
If the goal of your advertising campaign is direct sales or signups and you have a decent amount of traffic, then retargeting is a win-win for your business and customers. Compared to standard display advertising, you should expect vastly improved click-through rates (CTR) and conversion rates from retargeted advertising. In fact, many businesses have already seen tremendous success with this strategy. Last year, UBM Technology partnered with AdRoll to retarget visitors who abandoned their carts before purchasing tickets to a B2B trade show. A dynamic retargeting campaign designed to match users with different registration levels multiplied the campaign’s ROI 7x. For automotive lead generation site Dealix, remarketing was a big challenge due to the sheer number of products available. Using Google Display Network, Dealix’s top 100 vehicle models were rendered by creating one single ad that dynamically changed to show each make and model combination available on the site, a campaign that resulted in a 10%-15% increase in conversions.
These campaigns allow for product-level re-marketing, going beyond the notion of just keeping the brand in front of visitors. Retargeting has proven itself to be a powerful tool and has the potential to be a significant driver of revenue for merchants who take advantage of it. If you know your core audience well, and the messaging is right, dynamic retargeting can become a highly effective and integral part of your lead generation and nurturing program.
Tags: B2B digital marketing, B2B shopping cart abandonment, digital marketing strategies, dynamic retargeting, retargeting, retargeting for B2B