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Retargeting adoption rates are high particularly for e-retailers with 20% of market leaders in favour of dedicated retargeting budget. This indicates that retargeting strategy & execution is high on practice, but dedicated budgets allotted are still low. In most cases, retargeting tactic budget often comprises of an outlay of just 10% of existing marketing budget.
Why retargeting campaigns fail?
Bringing potential customers back to website using retargeting tactic no doubt, sounds great to convert lost leads. But to many, the art and science of retargeting lacks the best practices of execution, transparency and campaign adjustments. This is clear from the fact that nearly 30% of marketers reported lack of integration with other marketing initiatives resulting in an execution failure of retargeting campaign.
Are you aware of the fact that 98% of all website traffic don’t convert?
This is either due to ineffective execution of retargeting or retargeting more than required tactic that is driving away your potential customers. Chances are you end up mismanaging your retargeting campaign and losing your prospects forever. Such poor execution of your retargeting strategy might-
Your retargeting tactic, if not executed properly might end up in vain unless you know what errors you should act upon and which mistakes you should avoid.
Your website traffic mostly size up to a vast number who lack interest in your products & services after they browse your site. If you retarget them, you waste your marketing dollars.
Solution: Set your retargeting tracking cookie to tag only those prospects who stay in your page as long as 40 seconds.
If you bombard your prospects with the same display ad over and over again without demographic & psychographic segmentation, chances are you lose your brand value to the potential client.
Solution: Create retargeted campaigns based on specific segmentation (age, preferences, gender etc.)This will engage more prospects & yield a greater ROI.
Did you note your customer’s online behaviour during the course of your campaign? Many a times, the customer might have already taken the necessary action e.g., placed order, book a flight, book a hotel stay etc. In such cases, your instant retargeting might freak your prospects out.
Solution: Gain insights on your audiences. Check out what they prefer to see, assess their online behaviour & future expectations from your brand & then take a necessary action.
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