Avoid Missed Sales Opportunities with Retargeting

• Written by Michael Bass

What do you do when a visitor leaves your website without making a purchase? If you’re simply letting them go, then you could be missing out on a sales opportunity. Just because someone left your website without completing any action doesn’t mean they’ll never come back. With retargeting, you have an extra opportunity. You can get customers to rethink their decision. You can boost conversion rates. Learn how to increase sales with retargeting.

Retargeting Relies on Cookies

First, you need to understand how it works. This method relies on cookies, which are small files stored by a web browser that contains information related to browsing habits. You’ll also need to work with a retargeting provider.

Retargeting providers are similar to any other ad provider. In fact, many advertising networks offer retargeting services.

Once you have set up the retargeting campaign, you’ll receive a piece of code that will be inserted into your web pages. When a potential customer visits your website and leaves without making a purchase, the ad provider will use that the cookie generated by visiting your site to deliver ads.

As the potential customer browses the web and visits other websites, your advertisement can appear. The user will remember visiting your website and give your site another consideration.

Choosing the Right Retargeting Platform

As mentioned, you’ll need to use a retargeting platform to deliver ads to potential customers that left your site without making a purchase. Some of these platforms focus on delivering ads to social media platforms, including Facebook, Twitter, and LinkedIn.

There are also platforms that deliver ads to other websites. These platforms help create an impression on potential customers. The visitor will see your ads as they browse the web, instead of seeing one or two targeted advertisements on their social media feed.

Create a Landing Page for Your Second Chance Customers

Before you start the campaign, you should create new landing pages. You should include a discount or special offer for these landing pages. You have a second chance to get a sale, so if you need to offer a special discount, it’s worth the cost.

Set a Reasonable Budget for Your Retargeting Campaign

You should set a budget for the campaign before choosing a platform. Look at your analytics. You should determine the number of customers that leave your site without making a purchase. Only look at a select group of landing pages that will be a part of the retargeting campaign.

When you begin your campaign, you’ll be charged for each click that you get. In order to make the campaign as effective as possible, you’ll need to choose several landing pages to focus on.

Decide which pages you want to target and then review the bounce rate. Divide the number of exits by 50. The result represents 2% of visitors that left your site without making a purchase. Multiply this by the profit you’d gain from an average sale. Your budget should not exceed this amount.

With this figure, you’re counting on converting 2% of your exit traffic through retargeting in order to break even.

Create a Retargeting Ad Campaign

After you have completed the previous steps, you can setup the retargeting campaign. This similar to any PPC ad. You’ll have the option to place text or image advertisements. You’ll be able to set targeted regions and other settings the same as any pay-per-click advertisement campaign.

Retargeting is an effective solution for increasing your conversion rates. In addition to this technique, you should discover additional marketing tips.

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Image Sources:
Kaplan, D. (Posted: March 2, 2016). Image of retargeting platform: Beacons were a hot proximity platform in 2015; next year, they’ll be a hot retargeting platform. Retrieved from http://www.geomarketing.com/beacons-were-a-hot-proximity-platform-in-2015-next-year-theyll-be-a-hot-retargeting-platform
Mid Oregon Credit Union. (Posted: October 2, 2014). Image of money in jar: Students. Retrieved from https://www.midoregon.com/blog/?cat=5&paged=5
White, L. (Posted: May 29, 2013). Featured image: What is retargeting? A marketer’s guide to the basics. Retrieved from http://searchengineland.com/what-is-retargeting-160407

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