Retargeting scenarios can range in efficacy and usefulness depending on how they are used and implemented. Your business is probably already exploring smart and innovative digital remarketing methods, but technology is growing with every passing moment. Here are few ways you can gain that competitive edge you’ve been looking for.
Dive Deeper: Retargeting Solutions
You may think you already know all there is to know about retargeting. You might be re-capturing customers who commit shopping cart abandonment through skillful remarketing strategies or implementing CTA (Call To Action) campaigns like a pro, but you may not have found the golden eggs yet. How comprehensive is your strategy? Are you happy with the conversion rates? Are you satisfied with the method to qualify who you should retarget? Once you’ve addressed issues on site, there is still a lot of work to do.
It is methodically easier, and much more cost-effective to retarget site or cart abandoners than it is to attract new customers. For one thing, your potential customers already have an established baseline of knowledge about your business and your products and/or services offered. You also have informational access to their previous shopping and site history. While you can follow the already implemented methods of your competitors by attempting to recapture via e-mail, why not explore newer frontiers?
When conducting side-by-side comparisons of email conversion rates versus telephone and text-messaging campaigns, the latter proved to be much more effective and successful. The ROI was much higher when potential customers were directly contacted using mobile messaging and phone calls. This is most likely due to the direct human interaction factor, your business is showing initiative by reaching out to its most valuable assets. You should look for ways to customize your strategy in regards to your retargeting scenarios according to target, timing, and method. Isn’t it time you explored newer remarketing heights?
Analyzing Your Retargeting Scenarios
Once you’ve chosen the right remarketing campaign strategy for your business, you will need to analyze the performance of your retargeting scenarios. Consider how to balance the relevance and timing of your retargeting methods, set business-specific goals and customize your company’s performance indicators. Explore revenue, sales, conversion rate, and/or average basket factors. Play with rules and test them (historically, whether in relation to time or method) so you can refine your strategies effectiveness and can directly affect your conversion rate.
Performance metrics teach you a lot about how efficient your retargeting campaign is. Simply put, a low conversion rate doesn’t mean the customer doesn’t want to validate that shopping cart after all, it only means you’re going about it the wrong way. It could have been too soon, and the shopper felt pushed; too late and a better option came along; too much and it bordered on harassment; too little, too small… Each and every element, from what is left pending to how much it cost and what you have to offer to make it happen is important enough to look at.
A good conversion rate doesn’t just depend on “free shipping” or “redeem coupon now”. Retargeting scenarios that work are those you craft carefully, using segmentation, understanding the purchase process and knowing your audience, and that are quantifiable in units of time and money.
Analyze your retargeting strategy with Carts Guru today!