How to Skyrocket your Conversions with Remarketing
Remarketing has been the saving grace of struggling e-commerce companies in the past years
Remarketing has been the saving grace of struggling e-commerce companies in the past years. Despite your gallant efforts in developing lead generation channels such as social media pages, email subscriptions, and paid advertisements, most of your leads will not convert without personalising your remarketing strategy.
According to Forrester Research, a staggering 90% of an online business’ leads will lose interest within an hour upon stumbling across your site. Furthermore, 7 out of 10 online shoppers abandon their shopping carts without pressing that checkout button.
However, these horrible figures don’t necessarily mean most of your leads are bad. Most of the time, it merely implies that the customer is just not yet ready to buy, or the price is not right for them. This is where your remarketing should step in and act as your digital sales representative to handle follow ups and re-nurture your leads.
Remarketing with Display Network Sites
One of the main reasons why customers are holding on to their dollars is that they are comparing different companies. Most likely, they will be visiting other sites that are related or exactly the same as yours. This consumer behavior brings forth a golden opportunity for smart remarketing practitioners.
As your past visitor browses other related sites, it means they are still in the mood for choosing – not purchasing – a brand. What you need to do now is to maintain their awareness of your brand by displaying remarketing ads as they visit those contextual sites. You can specify where to show your ads using keyword placement, user demographics, and their browsing history. Additionally, you may use a list of specific websites within the Google Display Network to control where your remarketing ads will appear.
Don’t forget to use the appropriate ad format depending on your line of business and the preferences of your target audience. You may use text ads, image ads, video ads, and rich media ads which can incorporate some form of interactivity for your audience.
Email remarketing has been shown to potentially increase revenue by up to 4 times and net profits by up to 18 times. This is because it penetrates multiple levels of the sales funnel from establishing your authority as a provider and building consumer confidence.
However, never forget that timing also plays a role in your remarketing strategy. With personalized remarketing emails sent within specific intervals, you can get ahold of leads while they’re ready to buy. You can do this with the help of marketing automation, which will help maximize your gains with less effort by optimizing multiple marketing channels and your remarketing tactics.
When it comes to scheduling your remarketing emails, take note of the following:
- If a visitor failed to convert, it is safe to assume that he or she left your page after experiencing some difficulties. For your first email, try to obtain feedback regarding your customer’s experience. It’s also a good idea to provide a link to your customer support page.
- The second email can be sent within 23 hours and must be focused on reassurance. Show your customer that there is nothing to worry about. Try to include encouraging testimonials or links to positive reviews. Just remember to keep rolling with the original product they had in mind when they visited your site – do not attempt to upsell or cross-sell.
- Finally, if your customer was unresponsive for a week, there is only room for sending one last email. By now, it’s unlikely that timing was not the reason why this lead did not convert, which means a pricing issue is probably the culprit. This is why it is probably best if you include a discount offer in your last email.
Remarketing is an all-around solution for many of your online selling woes. It helps you build value, establish your authority, and maintain valuable leads. The extra conversions you get from those targeted ads are nice, too.