A Guide to Retargeting and its Benefits 

Marketing efforts, regardless of industry or business size, share common goals such as visibility, brand exposure, web traffic, retention rates, ROI, and conversion rates. To achieve these objectives, businesses need to implement several key tactics, including but not limited to retargeting efforts.

Retargeting is essential if your goal is to capture and convert as many leads as possible. Why? Well, for starters, only about 2% of visitors convert on their first interaction with your website or social media page…

With that said, in the following guide, we’ll be exploring what retargeting is, how it functions in practice, and its many perceived and actualized benefits.

What is Retargeting?

Retargeting involves serving those who have already visited or interacted with a given page or website with an ad that encourages conversion. The primary intent of any retargeting strategy is to first retain engagement and reconnect with those expressing interest in your product or service.

Retargeting campaigns are necessary for digital marketing efforts because, without any retargeting, 97% of visitors are unlikely to return. By targeting those who have shown an interest in your product or service, retargeting allows you to capture leads while they're still hot. 

Such audiences convert at much higher rates than those that are cold and unqualified. Simply put, Targeting those who have shown interest in your offerings will increase conversion rates and reduce the headaches along the way.

Types of Retargeting Campaign Strategies 

There are two common types of retargeting strategies for any given campaign: 

• pixel-based strategies
• list-based strategies

Pixel-based retargeting, the most common type of retargeting, involves displaying content to an anonymous visitor who has visited your website previously. List-based retargeting campaigns, on the other hand, are arguably just as effective, utilizing existing contact information to target a volume of hot leads. 

Whether it's an email list, geolocation, or otherwise, list-based retargeting strategies promote the employment of precision remarketing to a highly customized audience. 

As for where to launch these campaigns, Google and Facebook are the most effective options to launch your retargeting efforts. Google controls nearly 93% of the digital world's market share, while Facebook is the advertising hotspot of social media, providing several tools and ad strategies to be employed, retargeting and otherwise.

The Benefits of Retargeting 

Retargeting efforts have several benefits, including precision targeting, improving visibility and reach, and increasing conversion rates, just to name a few…

By focusing on those who have already shown an evident interest in your offering, you increase the likelihood of conversion and take the guesswork out of standard advertising practices. 

Retargeting helps boost recognition and garner awareness that ultimately helps businesses and brands establish authority early in the buyer's journey. It also has the potential to increase website traffic by upwards of 700%. Finally, retargeting is 70% more likely to increase conversions, and retargeted audiences are 3x more likely to interact with the ad than those who have yet to be targeted in the first place.

So, what are you waiting for?!