Retargeting is becoming a more prominent tool for marketers as buyers pull their purse strings tighter and are becoming more educated on their own before making a decision. Businesses want to be at the forefronts of the minds of their audience and retargeting campaigns generate constant brand awareness and impressions. The Chango Retargeting Barometer found that 53% of marketers and agencies intend to increase their search retargeting budgets in the next six months, while 46% of marketers and agencies intend to increase their site retargeting budgets in the next six months. In this post, we break down the what, why and how of retargeting.
Related: Recapture Leads with Retargeting
We're skipping over the "Who" of retargeting. Why? Nearly every respondent in the Chango study cited using some of retargeting. Most use site retargeting, the most common approach. When asked what types of retargeting tactics are used, there were some clear standout strategies. Some 92% of respondents use both site and search retargeting (Tweet this stat!). The next runner-up was email retargeting at 25% of respondents using this method, though it involves sending an email message to consumers who did not complete the checkout process. While there are three main tactics, the reasons for retargeting vary.
Search and site retargeting are the two big "Whats" we mentioned above. According to Chango, site retargeting is often used to increase recurring revenue whereas search retargeting is aimed at finding and acquiring new customers. Consistent results are driving retargeting spend, but the reasons for getting started with retargeting vary from business to business. Let's break down the reasons why marketers are using site and search retargeting.
- 84% of those using site retargeting and 92% of those using search retargeting do so to increase revenue (Tweet this stat!)
- 36% of those using site retargeting and 68% of those using search retargeting aim to increase on-site engagement
- 34% of those using site retargeting and 50% of those using search retargeting want to drive brand awareness
Knowing the numbers and learning from others are the first steps in developing a retargeting strategy. Retargeting is a highly-effective tool of modern marketers when done right. Your B2B business can be more successful with retargeting by following these three best practices.
- Focus on complimentary campaigns. Retargeting can't be restricted to one tactic: social, search, site or email. Your retargeting campaigns need to include at least search and site. Consider where your current customers and target audience and develop retargeting campaigns that will create impressions and click-throughs via multiple channels.
- Budget accordingly. Budget for retargeting has to come from somewhere and unless you can establish a new budget just for retargeting, you'll likely be pulling from another area of marketing. One common area that retargeting budget is pulled from is traditional display campaigns. Make the most of your display dollars by allocating some of that spend to retargeting.
- Get multi-dimensional when measuring success. The vast majority of the Chango respondents (78%) use both view-through and click-through to measure the success of their retargeting campaigns (Tweet this stat!). When running retargeting ads, make sure you are measuring the metrics that contribute to brand awareness and customer engagement, not just one or the other.
Retargeting is an incredibly effective tool for modern day B2B marketers who do it right and focus on different initiatives through different retargeting campaigns. Search and site retargeting may have different catalysts, from customer acquisition to extending lifetime value, but the aim is always the same: boost the business bottom line. Display ads and campaigns aren't a thing of the past; they're evolving as the needs of marketers shift. Retargeting is how you can reinvigorate your ad, email and social campaigns.