What is Remarketing?
Remarketing is a form of online advertising to re-target ads to users who have already visited a website (desktop or mobile). These ads will appear when consumers browse the web; watch YouTube videos and/or reading news sites after they have interacted with the brand. The benefit of retargeting is to keep a brand top-of-mind, especially to those who already looked at your site (whether or not they made a purchase).
There are many ways to build a remarketing campaign, first decide the intended goal of the campaign and create a remarketing list. There are a variety of ways to assemble a Remarketing List that will provide you different avenues of retargeting for maximum results. Some ways to arrange the lists are:
- All website visitors – This targets everyone who has visited your site (desktop or mobile).
- By product category – This list provides a focused and targeted focus for the specific product or category.
- Visitors who didn’t purchase – This list target those who visited and didn’t purchase.
- Visitors who abandoned their shopping cart – Similar to above, this is those who took the time to add to their cart and then left the site and their cart was still full.
- Sell more to visitors (up/cross sell) – A list to target those who already purchased, with additional similar items to purchase.
- Time-bound after a purchase – A list to target products that would enhance the first purchase.
There is a plethora of ways to assemble Advertising Metrics based on the desired outcome of the remarketing campaign. The most helpful KPIs are Conversion Rate and Attribution Rate as these speak to the activity and consumer behavior which is can be measured through remarketing.
- Conversion: This is the % of customer who actually buys vs. the amount of people who received the remarketed ad. For remarketing, a conversion can be the number of people who purchased their abandoned cart, purchase similar or cross-sold products or made a first time purchase.
- Attribution: Specialized attribution capabilities use algorithms that help you get to the robust, statistically sound insights that can help drive impact. For example, data-driven attribution can determine which remarketing efforts had the greatest impact, conversion rate and ROI.
Remarketing Campaign Trials
Remarketing Trials are a great way to delve into understanding how the efforts are working and if they are hitting the desired KPIs. The benefit of these trials is to measure for incremental growth and acceleration. The best trials will include these features:
- A holdout/control group that not exposed to the retargeting activity which is achieved through excluding a random selection of the remarketing list, and not sending them the retargeting campaign.
- Once the campaign is complete, it is easier to compare and contrast the conversion rate of the control and exposed populations and attributes to retargeting efforts.
- The aggregate results to the total conversions you feel were from retargeting vs the control group of those not included and this will help find the true value of the retargeting campaign.
Are there additional KPIs you have used to measure your remarketing efforts? If yes, share them and the value they provided to determining your ROI.