An average of 2% of users are bound to convert to becoming a sale the first time they land on your website. Not only is this number surprisingly low but to change this fact and win over an audience takes a very long time and great integrated marketing tactics.
You may be driving a significant amount of traffic to your website, but the chances of them translating to sales are low. Consider an intelligent strategy to remarket and retarget your business. This allows you to reach a wide audience that is more likely to purchase your services compared to first-time visitors. However, can you differentiate the two similar but very different actions?
Although both have similar end goals, there are crucial components that set the two apart. Island Media Management understands that these two can come off quite confusing, but on this week’s blog let’s explore each individually to clear up the differences.
What is retargeting?
Retargeting can have multiple approaches, but it is popularly referred to as online ad placements or display ads targeted at audiences who have interacted with your website before. As a user lands on your website, views a service, or takes a specific action you intend them to take, a cookie is set on their browser for you to be able to ‘retarget’ them with ads based on their activities when they leave your website. These ads are placed by third parties like Google Display Network.
Specifically, retargeting can be put into two categories: “on-site” and “off-site” events. Thus the different strategies you can implement depending on your goals.
- Targeting “off-site” interactions: This is targeting users who have not interacted with your website, yet have similarities with your previous customers. This strategy is used to add these individuals to your sales funnel and get them on your site. If you’re going to opt to target “off-site” interactions, you’ll be focusing on their searches.
- Targeting “on-site” interactions: “On-site” interactions is the most common strategy that is often associated with retargeting as it involves targeting users who have been on your website or your business’s products and service. By retargeting those individuals who have interacted with your website, you can boost conversions and retain an audience who have a genuine interest in your services.
What is remarketing?
Here’s where it gets a little complicated; sometimes, retargeting is referred to as remarketing (even though it is actually remarketing). An example to give a little more insight is Google Remarketing Tools, which supply retargeting tools. While this can already begin to seem confusing, just bear in mind that remarketing and retargeting share goals and that the importance of terminology is not a big deal compared to the actual strategy you choose to implement.
With that being said, remarketing occasionally is about email campaigns that can hopefully re-engage customers in their inbox. They use tactics like sending out newsletters after they abandon their shopping cart. A study was done on how to layout the perfect remarketing email campaigns:
- Products on sale: 60% of users who have subscribed appreciate emails where products they have been interested in is on a sale
- The VIP treatment: 51% appreciate the engagement and the service treatment they receive for being a VIP or member of a business.
- Cart abandonment: 41% of users appreciate cart abandonment emails.
When doing an in-depth comparison between retargeting and remarketing, the differences become clear. The shared goal to increase conversions to those who are most likely to purchase your services or products, but the difference really being the associated strategy. Retargeting is purely focused on paid ads. Remarketing is focused on email campaigns and reaching out to those who have already had interactions on your website.
Island Media Management is a digital marketing agency in Bali that grows every passing day from the knowledge obtained by creatively thought out marketing strategies we have to provide for our clients. If you’re interested to grow with us, check out our services here to see what we can do for you.
Did this article clear up your confusion? Let us know in the comments!
What we do works.