Hey,
Research shows that 97% of people who visit your site for the first time leave without buying anything. So for quite a while, Acquisition marketers have been using Retargeting ads to get these visitors back into their websites.
But the real power of retargeting is unlocked by using CRM data to target specific segments of your existing customers, to increase their engagement. Other research shows that your chance of selling again to one of your existing customers is up to 12X higher than the chance of acquiring a new customer.
Encouraging your active customers to come back for more, saving customers with a high probability of churn, nudging new customers into making a repeat purchase – these, and more, are all retention marketing tactics which could be executed through a variety of channels – including retargeting ads.
With Optimove’s powerful segmentation and predictive model, you can create highly personalized retargeting campaigns to complement your marketing strategy. Since we are aware of how powerful retargeting could be, we recently launched our
integration with Criteo, which is the latest addition to our roster of integrated advertising platforms, including Facebook and Google. Continue reading below to learn more about retargeting strategies.
Cheers,
Shai Frank
VP Product, Optimove
Did You Know?
In the past year, marketers used Optimove to serve more than 10 billion personalized ad impressions to their existing customers. It was the most used channel, accounting for33%of all customer communications delivered by Optimove in 2018, slightly surpassing even email.
How Does It Work?
There are two main types of retargeting, each with its advantages based on your campaign goals:
Pixel-Based Retargeting
Pixel-based retargeting is the most common type of retargeting and is used to re-engage any anonymous site visitor. While very simple to execute, this type of retargeting is very generic as it usually serves the same ad to all visitors.
List-Based Retargeting
List-based retargeting is a more powerful retargeting option, available only when you already have someone’s contact information in your database. To use list-based targeting, upload a customer list (based on desired customer attributes) to a retargeting campaign, and the platform will identify those users on its network and serve retargeting ads just to them.
Retargeting Tools & Resources
If you have to spend some money on digital advertising, you might as well do everything you can to ensure it’s as effective as possible.
The biggest challenges with effectively using list-based retargeting for customer retention are:
- Deciding which customers to include in which lists
- Manually uploading the numerous lists frequently
Optimove addresses both of these challenges by allowing you to identify and manage large numbers of highly-targeted micro-segments of customers while automatically updating the customers in each list daily.
Retargeting Best Practices
Use Retargeting for Retention
- Serve different ads to customers from different lifecycle stages, to make sure the content is relevant
- Use retargeting as part of your cart-abandonment follow-up
- Identify customers who tend to purchase during specific times of the year, like the holiday season, and target them around these times
- Communicate with customers who opt out of emails and regain their trust and engagement.
And as with any campaign, treat your retargeting campaigns as a marketing experiment, and measure its uplift across any business KPIs.
Use Retargeting for Acquisition
Find new great customers based on the ones you already have! Use Optimove’s segmentation capabilities to generate a list of customers with the highest predicted Future Value and populate a custom audience in Facebook’s Ad Manager; then leverage this audience to create a Lookalike Audience and find new high-value customers.
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