It is difficult for new visitors to land on a website for the first time and purchase the product or avail service right then( at times referral marketing technique is an exception) and if it is so then only a small portion of your traffic will convert and that is Conversion rate. The conversion rate is the percentage of visitors who take the desired action of completing a sale.
So what do you think where do the majority of your customers come from?
They are our repeat buyers who are satisfied with your product or service.
Now let’s not confuse ‘Remarketing’ with ‘Retargeting’.
Retargeting uses internet ads to get interested candidates back to your website to complete the sale. It turns window shoppers into buyers.
Is getting personal to prospective consumers via emails, messages and signs through gathering your site’s visitors info which can be taken from setting cookies(Cookies are a little piece of information which are stored on user’s browser with the condition that the user is allowing to store cookies at that time) and persuading them through e-messages to come back to your site and complete the sale.
Both of these tactics are used to bring back their potential consumers to revisit the website or mobile app who has bounced to your website or your mobile app after performing a certain action, to make them purchase your product you can send them a personalized push notification about their product in cart and you can offer them some discount so that they can decide to purchase your product or you can retarget them using remarketing ads.
Remarketing is basically a step ahead of retargeting.
Higher the conversion rate is indicative of successful marketing and web design.
When it comes to e-commerce business, remarketing business is crucial as it increases visibility by giving you a chance to know who has visited your website with banner ads and top of mind awareness for qualified visitors via special cookies. It is a great way to advertise your products and services to people who are already familiar with your company. There are tons of reasons, visitors don’t complete sales on their first visit for reasons like-
- They are not convinced.
- Faces trust issue for the new site.
- They want to do more research.
- They didn’t see the solution they wanted.
Remarketing to these people can give them an opportunity to remind them that, yes, you do have the solution of their problem and need.
It is rightly said, “ Customers who see retargeted ads are 70% more likely to convert on your website.”
Remarketing works well to build top of mind awareness based on behavioural psychology.
Later, those surroundings and images seem to already be familiar which denotes it’s highly likely people will remember your company simply by remarketing to them.
Remarketing enhances conversion.
On an average 2% of website visitors convert. Remarketing goes after that 98%.
Sierra trading saw an increase of 400% in its conversions by switching from static to dynamic remarketing ads.
Research from Wordstream found that more times a user sees an advertisement, the higher the conversion rate. Take a look at the graph below-
In my experience, I was convinced by the remarketing strategy.
A leading Instagram influencer by ‘iamroota’ who is a founder of Marketing Accelerator Academy persuaded me to become one of her clients by continuously sending me emails and links of testimonials of clients, convincing me about the ‘Marketing Accelerator Academy.’ and the status is.
I am following her and taking all her courses.
@iamroota 👩💻 .
Remarketing strategy is a very dangerous tool as it inspires people like me, especially those who are cautious of investing their funds on new sites. It is one of the powerful tools even for the visitors if grabbed judiciously.
Tips for optimizing re-marketing strategy to surge conversion rate.
1 Choose your products wisely
Say for instance,
A pair of socks sell Rs 250, and you spend Rs 400 on re-marketing to drive a sale plus the initial cost of driving the initial site visit, then the advice excludes the product unless stock purchasers have an unusually high LTV.
2 MarketData-Driven Decisions
Make sure to continuously optimize the remarketing campaigns, especially if performance is weak immediately after launch. Using enough data to achieve meaningful conclusions, especially when using automation features since Google algorithms perform better as more data accrues. Dynamic remarketing is a great tool
For automated highly targeted ads.
3 Tailor your ads to remarketing strategy to boost conversion rate
Your creative strategy is just as important as your remarketing strategy. Make sure your ads are relevant to the audience whom you would like to convince and it is scheduled when the targeted audience is most likely to see.
4 Segment your audience
Divide your audience on the basis of days. Say suppose 7,30 and 90-day windows to allow more strategic bidding. Make sure to consider the customer’s average buying process when creating these time frames. Say if average consumers convert to sale within 7 days of the visit , then it is not recommended to re-market for 90 days.
Why Conversion rate is important with a remarketing strategy
It is important as it allows online retailers to make the most of the site traffic that they already have and effectively make more money without spending too much on optimization for customer acquisitions.
- Shortening consumer attention span.
Psychological results have proven that the rising generation has a lower attention span compared to its predecessor.
What does this mean for online retailers?
It means that if the average consumer could not quickly find what they need, they will end up visiting that particular website and will immediately switch to another site which readily provides them what they want even if it is at a higher price.
So with optimizing conversion rates can combat this mentally.
- Shows results quickly
Unlike Search Engine Optimisation(SEO) which can take months to show real positive results, conversion rate optimization shows immediate results followed by continuous improvement and testing.
Legitimizes or well-organized business
An online store that is continuously optimized looks more legitimate than a business that has not. It builds a clear path to the landing page from making a purchase also you can use ab testing to create two variations of your landing page to test which one of them sends you the higher conversion. It makes the online shopping cart easy, visible and easy to access.
Once CRO with remarketing strategy is in place it can hugely benefit you and your business. Now it’s high time to get your website conversion rate optimizer using an effective remarketing strategy.
Sara is a Content Writer at InviteReferrals. She is not only a creative writer but also paints a beautiful canvas. She makes sure that you are left with no doubt about keeping up with marketing and sales.
Also published on Medium.