Nearly two-thirds of consumers spend at least 16 minutes comparison shopping before making a purchase decision. So how can you lure the browsers back when they are ready to buy? Retargeting is a popular option, but many retailers lose the sale by failing to properly tailor their campaigns. Here are six best practices to improve performance of your retargeting efforts:
Set thoughtful criteria
Start by answering these important questions:
– Who do you want to reach?
– Where in the funnel are these shoppers? Are you trying to convert cart abandoners or do you want to target top site visitors?
– What are your KPIs? What specific action do you want retargeted prospects to take?
– When is the campaign? Is it around a particular promotion, or a seasonal event?
Identify first-party data assets
Your first-party data set can include site visitors, subscribers, past customers and more; this first-party data will often come from your CRM (such as Salesforce) or your own website. You can upload this data and target directly through services like Google, Facebook, LiveRamp or Connexity.
Conscientious creative and messaging
With your goals and audience in place, the next step is to match your creative and landing pages with the prospect’s journey in order to gently push them to the next stage of the funnel. Rather than showing people the same product over and over again, consider what piece of brand content or promotional offer you can provide to help them make the next decision.
Stick with one platform partner
“One thing I don’t encourage is for retailers to run site retargeting with more than one provider at the same time. It’s okay to experiment with different partners, but make sure they don’t bid on the same exchanges against the same set of users in real-time,” explains Craig Teich, Executive Vice President of Global Media Sales at Connexity.
Bidding optimisation requires monitoring; you should track when prospects visit different media and content sites you are targeting, what channels and creative are driving conversions, and how much it costs to serve impressions and acquire new customers. As you gain additional insights, then you can consider adding additional data providers.
Don’t be annoying
No one likes the feeling of being stalked, so be mindful of how blatantly you promote products they recently viewed or details based on their personal data.
You can also set a “frequency cap” on the number of times customers see your retargeted ads and place a code on your site that will “untarget” new customers post-purchase.
Creative optimisation with constant testing
Always A/B test your creative, copy and landing pages to ensure they are optimised based on what shoppers actually respond to. For example, time sensitive promotional codes or free shipping.
Remember, after seeing the same retargeted banner over and over, a prospects’ interest will be become blind to your ads. By mixing up your creative, you can keep your ads fresh and interesting. It’s even more important to tailor your creative around the goals of the campaign and the comparison stage of your audience—rather than pushing your products, focus on helping the shoppers make a decision and moving further down the purchase funnel.