There are a wide number of online marketing techniques that are used in order to divert traffic to a website and impact conversion rates. However, only a small percentage of web traffic is converted into actual buyers on their first visit to a website, which means that the total amount of sales revenues that can be generated from the actual web traffic is likely to be very low. The key is to ensure that a larger percentage of web traffic can translate into sales so that ROI can be enhanced and costs can be minimized.
One solution to this problem is retargeting. This helps businesses improve their chances of capturing web traffic and converting them into buyers. Let’s look at what retargeting is and how it can be of use to businesses.
What is Retargeting?
Retargeting refers to the approach of reaching customers after they have visited a business website through the use of targeted ads. Usually, when web traffic is diverted to your website, the conversion rate is estimated to be less than 10 percent. However, through retargeting, firms can ensure they can cover the remaining amount.
Adroll’s retargeting service gives companies the benefit of reaching customers wherever they surf online, resulting in higher conversion rates.
What are the benefits of retargeting?
The repeated use of targeted ads helps supplement your business’ online branding efforts, through which you can benefit from higher repeat customers and loyalty. Through retargeting, customers can acquire customers with greater ease and establish an online word-of-mouth like no other digital marketing technique. This can provide your business with the competitive advantage you need to outpace rivals and gain higher market share.
Whenever your customers will view target ads, your brand identify will become reinforced and gain widespread recognition and credibility.
Retargeting is also useful in helping you lower your online marketing budget since it can lower a considerable amount of costs. If digital marketing spend on activities such as SEO optimization and PPC lead to a fraction of acquired customers per a given amount of web traffic, then you are not utilizing resources efficiently. What you need to do is to increase your conversion rates for a given amount of digital marketing budget.
The higher your conversion rates, the easier it is for your brand to grow and meet your sales revenue targets. Without retargeting, securing enough conversion optimization to meet your costs can be a challenge, placing you in considerable financial difficulties. Retargeting can thus serve as a crucial marketing strategy that has long-term growth prospects for your business.