How much easier would life be if every single one of your website visitors converted on their first visit? Unfortunately, here in the real world the average website only converts an estimated 2%.
Just think about that.
All those hours of hard work you put into bringing visitors to your website — and 98 out of 100 could leave without spending a cent, filling out a form or even submitting an inquiry. They browse. They leave. And often, you don’t even know who they are.
This is clearly very frustrating — and expensive. Especially if you assume most of those users has a demonstrable interest in your product or service and, in theory, they could just need a final push over the line to become customers.
What if there was a way to reach out to these users after their visit, so you could recapture their interest, bring them back to your website and give them that final push?
In simple terms, that’s exactly what remarketing gives you the power to do.
And, while it’s been traditionally seen as an Ecommerce tool, there is evidence that it can perform even more powerfully in the world of B2B than it does in B2C.
Remarketing: The Options
You’re probably most familiar with display retargeting — where users are shown ads for websites they’ve previously visited, while they’re browsing elsewhere. This is perhaps why people associate remarketing so strongly with B2C. It’s the classic model we all recognize where we might visit a fashion website, view a pair of shoes, exit before buying — and then all we see for a week or so is adverts for that pair of shoes.
But remarketing actually takes a number of different forms, including email, search and social. All iterations have a number of compelling statistics to evidence their credentials.
Studies suggest that website visitors who are retargeted with display ads are 70% more likely to convert. Clickthrough rates and conversions are anywhere between 3-5% higher for retargeted email campaigns, and retargeted ads have the potential to increase branded search exposure by more than 1,000%.
The bottom line is that, by focusing ad spend towards users who already have an awareness of your brand, product or services, you’re able to achieve a significantly higher ROI than you might with a scattergun, hit-and-hope approach.
How does it work?
Surprisingly — for such a sophisticated and scientific marketing technique — the actual functionality behind remarketing is fairly straightforward and uncomplicated.
It’s a cookie-based technology. For the uninitiated, cookies are simple, small text files that are sent from a website to the user’s web browser. They serve several purposes, from helping you to navigate efficiently through to storing your preferences. They can be disabled, but most users are happy to accept them as they significantly enhance the browsing experience.
When your users land on these pages and meet your criteria, the browser will drop an anonymous browser
In display retargeting, later on, when that user is browsing elsewhere, those cookies will let your retargeting provider know when to serve ads — ensuring that they’re only served to people who have previously visited your site and meet the criteria you’ve set.
Here are just a few examples of display retargeting from large companies such as SpecSavers, Moz Pro and SurveyMonkey. These simple, eye-catching banner ads are a great way to cash in on prior interest demonstrated by the user. You’ll notice that they’re all highly colourful and focus mainly on the call to action.
According to SproutSocial, 74% of consumers rely on social networks to guide their purchase decisions. It stands to reason, then, that social would be a great platform to reach out to past visitors who didn’t convert.
Facebook is a particularly valuable channel for remarketing. For one thing, it’s granular enough that you can use the Facebook Exchange to serve ads to people who have made it to a certain point of your website. In other words, you can show different ads to people who have just browsed your homepage, as opposed to people who have spent a prolonged period clicking through your sub-pages learning about your product. This means you can target different ads to different stages of the buyer journey.
Another bonus is that you can actually upload contact lists. Facebook then checks those email addresses to find accounts that are associated with them, meaning you can reach leads via a whole new channel. Here are just a few examples of Facebook remarketing in action:
The most common form of email retargeting is the abandoned cart email, where you add an item to your cart and fail to complete the purchase.
(Images via https://www.shopify.co.uk/blog/12522201-13-amazing-abandoned-cart-emails-and-what-you-can-learn-from-them)
As a modern marketer, you have a plethora of tactics as part of your marketing mix. Focusing your marketing dollars on potential buyers who have already demonstrated a certain degree of interest in your product is something of a no-brainer. Remarketing is fairly inexpensive, easy to set up and has been proven to yield great results by many companies. Don’t forget to use on-page analytics to ensure the traffic generated by your campaigns has the best chance of converting — at the second time of asking!