What is Remarketing?
Before knowing more about Remarketing, consider this very well known business dynamics. The most important question in business dynamics is, “How do I attract new customers?” Everyone wants to attract new customers.
Right from restaurant owners, who want specific customers during odd hours of the day to stores who want to increase the foot traffic in their retail stores.
In this competitive era with fast lifestyle, the Internet world makes “showing up’ at any business’s online presence easy, and makes leaving as simple as a single click, here the most important question arises is “How do I get them back?”
The Answer to the question is – Remarketing.
Remarketing is any sales and advertising strategy that re-establishes your contact with potential customers after they visit your website. Remarketing existed prior to the phase of Internet. In the recent years, its usage has shifted from offline to online and it is highly effective.
How to do remarketing?
Remarketing is broadly divided into 5 topics:
- Social Media
- Retargeting (with its sub bifurcations)
How a brand wants to remarket its customers completely depends upon the nature of business. Brands like Flipkart or Myntra approach the end users online as their portals are online; while, a certain brands opt for both offline-online remarketing combination techniques.
Usually, numerous visitors visit various online portals and leave the website without buying anything.
Remarketing is done by showing ads to such potential customers across the web.
In order to understand how Remarketing works online, let us consider India’s situation of “Customers Shopping Online”.
Brands like Amazon, Flipkart, Snapdeal.com, Jabong.com, and Myntra.com have a huge customer base. Various customers visit various products and checkout for specifications for the same. However, not all products viewed are purchased by the customers. For a fact, certain products are revisited by the customers after hours of viewing them.
Apart from that, these online portals face the biggest challenge when customers leave products in the cart.
Globally, out of 100 customers who shop online, 30 of the add products in the cart.
That’s 30% of customers who are interested in buying some product! That’s a huge number. However, only 3% of such customers actually buy the product at the later stage.
Around 27% of such users leave those products just like that.
How to get them back?
Remarketing is utilised for targeting such an audience.
Have you searched for a product online and then leave that website in the middle? Digital marketers track you down through various remarketing strategies and make sure, that the products you searched for, reach to you through advertisements. Here, is the common example of Cole Haan’s website, an international portal.
Cole Haan used exclusive offers in order to attract customers.
This is an example of Facebook remarketing. Facebook provides you with a Pixel which is utilised by various Businesses in order to advertise and retarget the specific audience. It’s similar to a brand recall. It helps the customer to recall the brand and visit the online portal. Recent research by Economic Times is as follows:
Know why remarketing is important.
Plan your strategies.