Online shopping is so easy, but many shoppers get distracted or start questioning their potential purchase and abandon their shopping cart. The shopper is then inundated with ads for that exact product in their social media accounts and on many other websites they might visit. These types of ads are called “retargeting” and have been an increasingly popular method of reaching the most interested consumers possible.
According to AdRoll (a retargeting platform), only 2% of shoppers will actually buy from an online store their first visit. Retargeting works to catch the other 98%. So, how do marketers do this? Well, to retarget and remarket, a target audience is needed. Although marketers can make a target audience in a number of different ways, the most popular methods include customer list retargeting, which works by uploading a contact list made up of the desired audience and website visitor retargeting, which works by adding a pixel that tracks website visitors to a specific website or even a page on a site. Cool stuff, huh? Well, many social media giants think so too.
Pinterest, a photo sharing, social media website that can be thought of as a “catalog of ideas”, has recently jumped on the retargeting bandwagon. By adding three new targeting options, businesses are able to target the delivery of its promoted ads by combining their own data with data Pinterest collects on its users. Pinterest has added “customer list retargeting” and “website visitor retargeting” to their available marketing methods along with “lookalike targeting”, which creates audiences based on similar interests of previous or potential customers. Businesses working with Pinterest Marketing Partners will be able to target their audiences by the end of June.
Facebook is also a powerhouse player to the retargeting game. By giving businesses the custom audience options of uploading a contact list, and/or attaching a Facebook pixel to a company’s website and pages, Facebook is killing the game with a “41% increase in advertisement revenue since 2014” according to AdRoll data.
Adroll is a growing retargeting advertising platform that allows businesses to use their own website data to create personalized ad campaigns. AdRoll has partnered with over 60 advertising exchanges and networks including Google, Facebook, Yahoo, MSN, Twitter, and AppNexus to offer its clients access to 98% of the web! They work with over 25,000 advertisers and expert machine learning to get businesses the results they need. The other amazing thing about AdRoll is that they will personally design the ads to attract the intended target audience, perfect for many Saffire clients with small staffs or volunteer boards.
With many businesses catching on to the retargeting trend, there is no doubt that retargeting will become a bigger and more lucrative marketing method than it already is!