Remarketing Vs. Retargeting
We spend a lot of money and time getting customers to come and visit our products. Unfortunately, not all of them convert, but that doesn’t mean they are lost. Using the data you have, you can market directly to them to get them back and convert. This saves on your cost per conversion since it is generally cheaper to get someone back rather than get someone new.
This type of marketing generally falls into one of two terms, Remarketing or Retargeting. But what’s the difference?
Remarketing
Remarketing generally refers to re-engaging a customer through email marketing. While these can include your normal marketing emails, many are also triggered by events that happen on your site; browse abandon, cart abandonment, products added to wishlist. These campaigns are effective! Almost all adults use email daily, so it is a great way to reach your customers.
In this modern-day, many people shop cross-device. Phone shoppers can easily get distracted and forget about the purchase they want to make. Sending a reminder email can help you to recoup many lost sales with next to no money. As we said, many of these campaigns are triggered by events on your site.
Many of these campaigns are not just one email, but a series of emails depending on how your customers react to your emails. As each email goes out over a period of time, they can have an increasing discount sent out to try to incentivize your customer to come back, before you give up on the customer.
Retargeting
Much like remarketing, retargeting involves marketing towards customers who have already had contact with your brand. The difference is the types of ads and how they are delivered. Rather than sending emails, this means delivering strategic display ads.
The idea is to re-engage customers with attention-grabbing ads to remind them of the products they were looking at. Ads can be done on a search network or a social media site. Since the customer has already visited your site and maybe visited a specific product, you can now tailor your ads to show those products.
Which one should you do
BOTH! Remarketing and retargeting are best when combined. As mentioned before, the cost of these types of campaigns is much lower compared to the cost of finding new customers. This means that the returns should be much better compared to the investment put into these campaigns.