Ad retargeting works. Since 98% of your first-time website visitors will leave your site without buying, you need a way to snag them back. Retargeting goes past browsing and purchase data and serves up suggestions to past site visitors when they browse other websites, check their email or watch online videos. In addition to keeping your products front of mind, it increases the chances of getting back that lost 98% that didn’t buy the first time.
But just how powerful can retargeting be?
A Welsh jewellery company wanted to know just that. Instead of attributing clicks and conversions to retargeting without really knowing how much more business they were getting from it, the marketing team set up a simple split test.
Visitors to the website were split into two groups:
- one group received retargeted ads on other websites based on past browsing behaviour
- the second group acted as a control group, receiving static ads, unresponsive to past browsing behaviour.
For instance, consumers in the first group who looked at bracelets were served ads about bracelets, while consumers in the second group saw the same ad regardless of whether they browsed for bracelets, rings, earrings or a mixture of all three.
Consumers stayed in the same group once assigned. The test ran for several weeks. Those in the first group were 23 times more likely to re-visit the jewellery company’s website. In addition, those in the first group were twice as likely to eventually make a purchase from the company within the timeframe of the test. The marketing team realised just how important dynamic personalisation was in compelling consumers to buy.
The group received which retargeted ads were 23x more likely to re-visit the jewellery company’s website [and] twice as likely to eventually make a purchase.
And what if you’ve already had success with retargeting?
An American-based software company had already found that its retargeting campaigns, based on past browsing data, performed well and generated a decent profit for the company. However, the e-commerce team felt it could get more money. The team combined its analytics platform with its retargeting software to refine its retargeting strategy. First, the e-commerce team used its analytics data to determine how many times a consumer visited the site before downloading a free trial of its products. Finding the average number to be six times, the team used that data to target only visitors who had visited the site six or more times.
Then, the team broke up the buying cycle into three parts:
- visitors who viewed a product
- visitors who downloaded a trial and
- visitors who purchased a product.
This way, it could further refine ads to prompt users to complete a very specific call to action. For instance, if a visitor viewed a product, but left the page, ads would prompt the visitor to download a free trial. Once the visitor downloaded the free trial, the prompt would change to purchasing the product. Within 30 days of this new retargeting strategy, the company had increased its ROI by 106%.
The team combined its analytics platform with its retargeting software to refine its strategy…Within 30 days of this new retargeting strategy, the company had increased its ROI by 106%
There are a world of possibilities behind your data, and ad retargeting simultaneously helps you unlock that data and use it to build your bottom line. Do you have a retargeting success story? We’d like to hear what you have to say below.