In any industry, spreading the brand awareness to the unaware audience is a tedious task. However, the segment of the audience that interacted previously with your brand can be retargeted to become long term customers. Fortunately, retargeting existing customers is quite easy now-a-days due to the data driven approach of digital marketing. Utilising retargeting techniques in digital marketing provide enormous benefits and help in achieving long term profitable sales.

Effectiveness of Remarketing in Digital Marketing 

Statistics reveal the effectiveness of remarketing strategies in digital marketing:

·         Around 18% of Businesses experienced a 25% increase in conversion rates through remarketing. (Skein Agency).

·         The percentage of abandoning customers reduced to 7% according to MotoCMS.

·         Engagement is highly influenced by retargeting Ads. Retargeting alone contributes to a 400% increase in customer engagement. (webfx).

·         A well-planned and well executed remarketing campaign can lead up to a 160% increase in conversion rates. (webfx).

Customers mostly remember the image of a brand, Product, website, or offer that made a good contribution in their life. Therefore, Businesses need to identify the touchpoints of customers to place their product or offer at the top of their mind. In today’s digital age, various social media platforms have been an effective touch point for businesses. These platforms facilitate to engage with their potential customers. In addition to that, these social media platforms have effective data points. These data points helps in retargeting customers and nurture long term profitable relations with them.

The Various Benefits of Remarketing in Digital Marketing

There are various strategies businesses can utilise for remarketing including retargeting through search ads, video remarketing, and social media marketing. These effective approaches to digital marketing can make these businesses reap multiple advantages. Some of these advantages include:

Reduced Rates of Cart Abandonment:

There is hardly any e-commerce site that is not facing the challenge of cart abandonment. Many shoppers add items in their cart for a very long period of time and some of them never check out.  However, the remarketing practices remind customers through email, banner and pop-up to revisit their abandoned shopping carts and checkout.

Increased Conversion Rates:

Remarketing is one of the best strategies that can be utilised in the overall marketing strategy to increase the conversion rates by targeting the right audience. Customers can be reminded to revisit the site and complete the interrupted process, or check the details of new offers they might be interested in.

High Return on Ad Spend (ROAS):

Ad retargeting often results in getting the high ROAS through precisely targeting the right audience who are already familiar with the business. Unlike the traditional targeting where Ads often target irrelevant audiences. As the remarketing ads focus on the potential customers who have the high chances of completing desired actions.

Targeting the Most Relevant Audience:

Remarketing focuses on targeting the right strata of the audience who have recently visited the website or took any action on it. For this purpose, businesses can make a lookalike audience through social media pixels which help them to achieve higher sales and conversions at low cost.

Increased Brand Recall and Impactful CTAs:

The remarketing technique acts as brand recall for potential customers. As customers keep coming across the brand via different social media platforms, they familiarise themselves with the brand which makes them confident to complete the desired actions and thus enable conversions.In Summary, retargeting has established itself as one of the main aspects of digital marketing. In retargeting campaigns, Businesses retarget customers through various strategies. Mostly social media advertising platforms while retargeting offer various benefits to take desired action and complete conversion process . These conversions are often sales, submission of forms, scheduling the booking appointment or making a call. Adopting remarketing strategies makes it possible for the business to leverage existing customer awareness in order to build brand awareness in the digital realm and achieve sustainable growth.