Introduction
In the present world of Internet advertising, getting identified is not easy.
Sometimes, it appears as one is literally shouting into an empty hall, and hoping someone listens to the brand, even if it provides excellent products or services. Remarketing vs Retargeting, both strategies becomes necessary in this situation.
With the help of these giants of digital marketing, you could turn those potential customers ever seen to rivals into fans.
But what is the difference between Remarketing and Retargeting?
How can the two be utilised to the maximum and encourage clients to make more purchases in the Market?
In this guide, we are going to explain what Remarketing and Retargeting terms are, provide some actual examples of the respective campaigns, and reveal the secrets of using this tool as efficiently as possible. Plus, we will develop some important digital marketing initiatives to help you start well.
Remarketing vs Retargeting: The Difference
Now, what is the main difference between Remarketing and Retargeting is the fact that both phrases belong to digital marketing and serve different functions in it.
Remarketing
Remarketing should be aimed at capturing those that have had an initial interest in your business. Often it includes the use of the advertisement banners to the users who have been to your site or those who have bought something from you. They are so useful in the remarking strategy because the overall aim is to develop the existing relationship with the customers and get them to come back for more products.
Remarketing: Example
An example of Remarketing is sending emails to those regarding abandoned carts with the purpose to remind the customer to complete the purchase. E-commerce is where you are looking for a product, carrying it to the shopping cart, but due to some reason you are distracted and leave the site. Following that, you will receive an email notifying you of items left behind, and at times with a code to complete the transaction.
This is the most basic Remarketing to conversion that one can come across in the modern world.
Some of them include emails that are sent after a purchase has been made.
Retargeting
Retargeting is directed toward the target audience as those visitors who came to the site but did not make a purchase. These visitors are tracked by use of cookies and advertisers are then allowed to post ads relevant to the website that these visitors have been visiting. It is whereby you must constantly remind them of your brand and mobilize them to take the desired action of buying.
Retargeting: Example
The final product of the Campaign is to Keep Star Auto Top of Mind The campaign can be summarized by the tagline “Keep Star Auto Top of Mind”.
Retargeting, simply is about keeping the customer or potential buyer aware of your business or your product. For instance, if you are buying running shoes online and you quit from the website, you might experience the same shoes being advertised to you in another website. These are kind of ads that Retargeting and make you remember your interest in the product and thus complete the purchase.
The Retargeting strategies can also be used to market and advertise certain products based on the browsing history. For instance, if one is browsing through homes in each neighbourhood via a real estate site, he or she might be served home ads in the same region on other sites.
Facebook advertising is the most common way of reaching the audience again at this stage, and social media retargeting ads are specific for this purpose. For instance, if a consumer gets to your site and then goes to Facebook, he sees an ad which contains an offer or a review that will make him purchase.
This is where the magic of targeted digital marketing tools happens.
How to Decide If Your Business Needs Remarketing or Retargeting
To determine whether your business needs Retargeting or Remarketing, consider the following factors-
Business Goals
Ensure that prospects are given follow-up messages of the items they viewed in the site through remarketing with an aim of making subsequent purchases.
Retargeting to make people aware of the brand and to bring in new clientele.
Target Audience
Using Remarketing is perfect for targeting people who left their carts on the site.
Retargeting work is fine when trying to engage with the visitors who had not put their order.
Budget and Resources
Retargeting entails the use of a bigger advertisement budget.
Remarketing is relatively cheaper through a combination of, email marketing and social media advertising.
Compatibility with Existing Channels
Be very certain that the social media platforms used can support these strategies well enough.
Some of the digital marketing tools provide both Remarketing as well as Retargeting choices.
Stage in the Customer Journey
Retargeting is also effective in the initial stages because it gets the attention of the audience.
Therefore, Remarketing is highly effective and beneficial at each stage of the process of customer relations to support continued business.
To be more exact about it, below are some ways on how you can accurately measure the success of your campaigns.
To Evaluate the Success of your Remarketing vs Retargeting Campaigns, Monitor these Key Metrics
- Click-through rate (CTR): This calculates the number of persons who eventually click on your advertisements or the ones receiving your emails.
- Conversion rate: This measures the number of persons that take a specific call to action like purchasing a particular product after clicking an advertisement or an email.
- Return on ad spend (ROAS): This is the measure used to compare the revenue obtained from the campaigns and the expenditure you make on online advertising.
With such metrics, you will be able to work on performance of your remarketing and retargeting campaigns, in a bid to boost on your sales.
Best Platforms for Remarketing and Retargeting
Selecting a proper platform is the initial stage in a successful campaign.
Some of the best platforms for Remarketing and Retargeting are.
Google Ads: Since Google has a broad network of users, it can reach out to them based on the history of the websites they have visited; thus, making it the best option for Retargeting.
Facebook and Instagram: Through facebook and instagram Remarketing, you target users that have an interest in your brand, part of a specific demography or have been interacting with your brand in one way or the other.
Email marketing platforms: Most platforms such as Mailchimp, HubSpot and Constant Contact enable you to conduct a Remarketing campaign through email marketing whereby you present your past customers with relevant offerings.
Conclusion
Remarketing vs Retargeting: Both are important marketing tactics for any business to reconnect with prospective buyers and increase conversion rate. Retargeting seeks to regain attention using paid ads across a variety of platforms. Both strategies, when used wisely, can improve customer loyalty and increase brand awareness.
That is where StartMetric Services comes in with an all-encompassing service including email marketing, social media advertising, Google Ad retention and automation to help you get the most out of your remarketing ad Revenue. Take your digital marketing efforts to the next level with us.
