Website conversion rates suck. They really do.
Let us paint you a very ugly picture.
According to Monetate, less than 6% of e-commerce visitors actually put something in their shopping carts. What’s more, Baymard Institute states that the average cart abandonment rate is a whopping 67.89%.
This puts the average conversion rate at 2% — or, in other words, 98 out of 100 people leave the average e-commerce site without buying.
The Majority of Sales Funnels are Leaky
Seeing poor conversion rates with a sales funnel in place tends to be a double blow to businesses. They’ve spent the extra time and money in implementing conversion optimization to no avail.
There’s an obvious leak somewhere. The sales funnel has a hole or two where subscribers are falling through.
Without visitors to your blog or opt-in pages you’ll have no audience, no engagement and no subscribers. Without subscribers you’ll have very few if any at all sales and without sales you don’t have a business. Yet this is the problem faced by the vast majority of people.
How can you get more visitors to your website and opt-in pages and more subscribers into your sales funnel?
The answer: Retargeting.
Retargeting is a new way to increase your conversions and sales. Getting better results from your website just got a lot easier.
How Does Retargeting Work?
Retargeting, also known as remarketing, is a form of online advertising that can help you keep your brand in front of bounced traffic after they leave your website. Like we said earlier, only 2% of web traffic converts on the first visit. Retargeting helps companies reach the 98% of users who don’t convert right away.
Here’s how it works: you place a small, unobtrusive piece of code, or pixel, on your website. The code is unnoticeable to your site visitors and won’t affect your site’s performance. Every time a new visitor comes to your site, the code drops an anonymous browser cookie. Later, when your cookied visitors browse the Web, the cookie will let your retargeting provider know when to serve ads, ensuring that your ads are served to only to people who have previously visited your site.
5 Ways to Use Retargeting Ads
Now that we know what retargeting is, let’s talk about ways to use it.
If you’re attracting leads who are never going to become customers, you’re wasting time and money. These retargeting strategies will help bring quality leads into your business’ sales funnel.
1) Promote content.
Traditionally, retargeting ads are used to push products — but that’s not the only thing you can use them for. You can drive people towards blog content too.
Larry Kim of Wordstream reported a 50% increase in repeat visitors, a 300% increase in time on site, and a 51% increase in conversion rate by promoting his content using retargeting.
Below is an example of Irish Digital Marketing agency, Wolfgang Digital, using retargeting to promote a new piece of content. They targeted everybody who visited the website and then excluded those who had already read the study. The retargeting ad below was only shown to the user when they were reading relevant content. Some of these ads got a clickthrough rate (CTR) of 0.8%, which is double what some industry experts suggest you should aim for.
But how do you figure out what content should be promoted using retargeting ads? Simple.
Dig into your analytics and figure out which pieces of content are most popular in terms of social shares and conversion rate.
2) Promote specific content or products based on which pages people have visited on your website.
Imagine you sell restaurant equipment. Why not create lists out of your product categories? For example, you could create a retargeting list for those who visit any page within the cooking equipment category and another for any page within the food prep category. You could then deliver ads showing commercial gas ranges to the first list, and food processors to the other.
This ensures you’re always delivering relevant content to the right people — which improves the ROI of your retargeting efforts.
You can also take this a step further. By using services like Mad Capper Marketing, you can also ensure that past visitors are shown the exact items they were looking for. This can be incredibly effective, especially in e-commerce.
3) Pull people through the funnel.
Imagine a person visits your a page on your website that’s about an industry topic, but the person doesn’t convert. These people are still very much at the top of the funnel.
Why not set up retargeting ads on Facebook, Twitter and/or Google to drive these people to a blog post on that same topic? If they get there, but still don’t convert, try retargeting to them to drive them to a downloadable ebook on the same topic. If they don’t convert at this stage, drive them to a consultation or a free trial.
4) Capitalize on events and holidays.
Online flower retailer, 1-800-Flowers, saw great success capitalizing on Mother’s Day using Twitter retargeting ads.
This can also work well for events. Consider a convention. We could run a retargeting campaign in the run up to the event. We could retarget people who have visited the Register page but not registered, and offer them a discount. This can work for all types of industries.
5) Exclude visitors who have spent less than 10 seconds on your site.
People who spend a short amount of time on your site are probably won’t be as interested in what you have to offer as someone who spends a minute on your site. Therefore, by retargeting to them, you could be wasting budget.
Test different time frames here — if you’re going through your budget quickly with poor results, increase the time parameter. You could also exclude people who have bounced from your website.
To do this, you will need to set up some Google Analytics lists and import them into your Google Analytics account. This takes a little extra work, but you can create some really sophisticated lists using this method. Google has a really good guide on how to do this, which you can read here.