Digital marketers are increasingly implementing retargeting today. Retargeting budgets are growing to become a significant portion of the advertising expenditures as businesses continue to use the technology and measure its success to find better results. 68% of businesses are shifting the investment from display to retargeting since most retargeting is based on display ads. 10% of agencies have allocated a separate retargeting budget which tells us that retargeting is no longer an ancillary process but a mainstream strategy.
Retargeting is a handy method for professionals and website design companies for small businesses near me, agree to it. As the retargeting industry continues to grow, there are several opportunities for growth as well as challenges ahead for digital marketers in 2021. This article discusses the challenges and opportunities involved in detail, along with providing a brief overview of the process of retargeting.
What is retargeting?
If you run a business online and are searching for a “website design company near me,” then retargeting is a process that is likely to of great use to you. According to research, 97% of the audience that visits your website leaves without making a purchase. They are lost in the abyss forever unless you attempt to bring them back.
This is where retargeting comes in. With the help of retargeting advertising platforms such as Google Ads, Facebook Retargeting, and more, you can show relevant advertisements to people who left your site to remind them of the fantastic products and services you have to offer. Your aim is that they get back and make a purchase.
People like being acquainted with your business before they buy from you. According to a standard marketing rule of thumb, you should show your message to customers at least seven times to ensure that they buy from you. Retargeting offers your advertisements to potential customers at the right place and time, making it an efficient and cost-effective way of advertising to make people buy from you.
When can you use retargeting?
Experts at a website design agency near me think that retargeting can be useful in the following cases.
If you want a long-term strategy for marketing for your established business
Retargeting can prove to be a sustainable marketing strategy for businesses especially with a website that has over 100 monthly visitors.
If you want to promote your bestsellers
Retargeting advertisements can help you promote your top-selling product that customers already love so that you can have a higher ROI from ads.
If you want to introduce new collections
People who have already visited your site are an ideal audience for the new products and services you are offering, and you can reach out to them through retargeting.
If you want to move inventory
Retargeting ads are a cost-effective way to sell your surplus products from your inventory to customers who are likely to buy them.
If you want to create brand awareness
Retargeting helps you stay in the mind of potential customers so that they can know you well enough to purchase from you.
Challenges and opportunities of retargeting in 2021
In 2021 remarketing stands out as an excellent Digital Marketing Certifications growing in popularity by leaps and bounds. However, the challenges and opportunities are not dissociated. In most cases, what seems like a challenge is a scope for development in reality that can be tapped into by overcoming the obstacle. Here are some of the most relevant ones.
Retargeting technologies need to be constantly evaluated for success
Most of the web design services near me frequently evaluate their retargeting technology to be successful in their attempt. 83% of businesses are constantly assessing their technologies -monthly or quarterly. Most enterprises use retargeting as a part of their advertising strategy on Google, Facebook, or Instagram. Since it is difficult to have a single view of attribution when using multiple platforms, you should test the retargeting platforms continually and not be afraid to change platforms if necessary.
The retargeting industry is improving at measuring success
While previously, marketers had to rely only on click-through for assessment. Today, view-through can measure people’s conversion rate after viewing an ad despite not clicking on it. Most website design services near me are using both click-through and view-through attribution to gauge success rates.
Retargeting is being used to acquire competitor’s customers
Although retargeting itself is based on revolutionary technologies, maximum marketers are playing it safe with traditional goals like customer acquisition, generating brand awareness, and driving direct sales when it comes to retargeting. However, 7% of businesses are using retargeting to acquire competitor’s customers.
Mobile retargeting is emerging as a challenge
According to a survey, only 8% of the digital marketers were extremely satisfied with the results of their mobile retargeting campaigns. Mobile retargeting continues to be a challenge for digital marketers as the industry looks for ways to mitigate the lack of reliable cookies on mobile.
Retargeting solutions require better customer support
Although the quality of retargeting solutions has increased over time, they still need to work around better customer support. 47% of marketers think retargeting solutions should have better customer support facilities with email, live chat, and phone calls.
Research shows that 70% of people who view retargeting advertisements are likely to convert. No wonder it is one of the fastest-growing industries in the field of digital marketing. But this growth is not rampant; there are impediments in the way and head starts that make the journey of retargeting a very eventful one. We hope that these resources will help you understand retargeting prospects and where it stands in the year 2021.