Retargeting is a time-honored way of boosting sales. In a world where cart abandonment costs the ecommerce industry $18 billion a year, it’s also a valuable client retention tactic.
With retargeting able to boost conversion rates by as much as 150%, it’s an essential strategy to use in 2020. In this post, we’ll look at ways to use this tool even more effectively by taking a lesson from content marketing.
Retargeting and Content Marketing
They don’t seem to go together at first glance. After all, retargeting is used to show ads to your target audience, whereas content marketing is more about building relationships. If you think about it laterally, though, these two techniques can work well together.
Retargeting is traditionally used to present ads to your customers. Also, it can also be used to link through to interesting content on your blog. What we’re proposing is to use it to provide the right information to your clients at the right time.
A New Way to Nurture Leads
With the advanced CRM software available today, it’s pretty simple to establish what stage of the buying cycle your client is in. Use this to your advantage and pair it with remarketing to give the client additional information that might help to nurture the lead.
Say, for example, that someone is still in the research section of the buying cycle. Retargeting using a standard ad is likely to fail because your customers haven’t reached a buying decision yet. They still want to know more about potential solutions to the problem they’re trying to solve.
Now, let’s say that you sell HEPA filtration systems. A good HEPA filtration system is more expensive than a standard air purifier. If you start displaying ads to customers at this stage, they might get the impression that your goods are overpriced.
A better solution would be to link to a blog post discussing the various types of air purifiers on the market. In this post, you’d naturally point out that HEPA filters are the most effective. Your client would find this post helpful.
A day or two later, you could link through to a whitepaper or research study about what air pollution contaminants we have to deal with. You’ll score extra points if you can find a study that refers explicitly to the target audience’s location.
The idea is to lead customers to the solution that HEPA filters are the best option for them. When you’ve got them primed, they’ll be ready to buy. Who do you think they’re more likely to buy from? The company that bombarded them with ads or the company that provided them with more information.
By providing them with information instead of advertising, you’re demonstrating that you care about more than just the sale. That might not be the case, but online perceptions often count for more than facts.
Recovering Lost Sales
What if your customers have added a HEPA filtration system to their carts but haven’t completed a purchase? This is where a clever and more conventional ad could pay dividends. You could consider throwing in a discount voucher or some other way to sweeten the deal.
Building Client Relationships
One complaint that clients often have is that the company ignores them when they’ve completed a purchase. In the business world today, this is more out of necessity than neglect. With strict sales targets to reach, it’s not always possible to give customers the attention they deserve.
Retargeting could help to fill that gap. Back to our HEPA filtration systems again. Say that your clients have completed their purchase. The system is on its way to them. While browsing Facebook, they see a link to a YouTube video explaining how to install the unit.
A week later, perhaps, you could link through to tutorial on how to maintain the unit. From the client’s perspective, this is extremely useful information. Sure, they could read all about it in the instruction manual, but how many will do so?
They’ll appreciate the information and the fact that it came with no strings attached. For a small amount of money, you’ve taken another step to nurture the relationship.
The way consumers react to digital advertising is changing. If we don’t change our tactics to match, we could end up losing our competitive edge. Rebooting retargeting is a great place to start the transformation.