If you have been following our blog and read the latest piece, then you have an idea of some of the mistakes that hamper customer conversion in the e-commerce world. But despite our best efforts in retaining customers, there are still some who ‘get away’ just when they are all set to click the ‘buy’ button. These can be customers who have thought about exactly what they need and researched the product thoroughly but they might decide to buy your product later or from a competitor in their next e-shopping outing. So how do you make the best of this decision window and get back that ‘lost’ customer? Enter remarketing.
Remarketing is a way of reaching out to customers who have already interacted with your product or website once in order to influence them to make a future purchase decision. Apart from directly driving sales, remarketing can also be used to increase brand awareness or boost membership numbers within an online community. Simply put, remarketing involves displaying advertisements to customers who have previously interacted with your E-commerce platform; purchased your product or added it to their cart without finalizing the purchase; searched for your product on Google; or are browsing for a similar product elsewhere.
The dominance and wide reach of internet giants like Google and Facebook means remarketing through these platforms increases your reach and exposure. Remarketing helps to focus advertising on particular target groups, enabling quick display of ads at an optimal time (correct timing and placement of ads are important elements of the advertising-customer conversion cycle). Advertisers can reach customers on more than a million websites and mobile apps as they browse the internet. Remarketing platforms can also have automatic bidding options where advertisers bid for the ad to get the best price and returns on their advertising campaign. Popular platforms like Google Ads provide options to create your own ads and get campaign statistics on the impact of your remarketing efforts.
Here are some of the popular remarketing tools and platforms used by e-commerce retailers:
Google Ads: One of the most popular advertising platforms in the internet world, Google Ads gives you a wide range options to customize your remarketing campaign.
Facebook pixel: The world’s largest social media network provides its own remarketing tools, including automated bidding for ads and campaign data analysis (similar features also provided by Google Ads).
LinkedIn Matched Audiences: This remarketing solution consists of 3 components that help increase ROI of your marketing campaign: Website Retargeting, Account Targeting and Contact Targeting. Matched Audiences is available with all of LinkedIn’s common advertising products letting you leverage data on the world’s largest professional network.
Email remarketing: Another popular method of reaching out to customers who have interacted with you before. With the right content and audience emails can also increase ROI of your remarketing efforts.
A strong marketing and advertising strategy combined with a follow-up remarketing strategy can have a positive impact on your e-commerce sales and brand visibility. When you reach out to customers regularly and timely with good remarketing initiatives, they will remember your brand and are likely to return for a confirmed purchase. Showing a relevant ad to the right customers at the right time of their buyer journey is an essential part of getting remarketing right. However, it’s equally important to collect the relevant customer information, get your remarketing customer lists right and plan your remarketing approach to get the most out of re-advertising for the customer that got away.