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Retargeting uses elements of behavioral advertising to target consumers who have already visited a website, but who have not yet committed to revisiting it.
Retargeting is typically done by utilizing cookies, which are small text files stored on a user’s computer. For the reason that it’s possible to record the name, email address, and the browser type of each person who has already visited the website with the help of Cookies.
Retargeting has the following advantages:
1. It Is Cheap
Before you make an investment, certainly, it is important to take costs into consideration. Retargeting campaigns are usually far cheaper in comparison to other marketing campaigns.
2. It Involves Customer-Oriented Campaigns
A retargeting campaign involves the use of relevant ads that focus on the interests of your website visitors. These ads are targeted at visitors who interact with your website.
Also, it helps to persuade them to complete a purchase of products they abandoned in the shopping cart.
If your product is only relevant to customers within a particular geographic location, you can create a campaign that targets that specific geographic location.
You can also target your customers within a specific time frame (say, Christmas period), as well as within specific geographical areas (the United States, for example).
3. Increased Revenue
This type of advertising technique allows you to get in touch with your customers even if they have moved to a new location.
If you have a great lead generation campaign, you can retarget those leads right back to your website. If you can do that, you can make extra income.
4. Higher Retention Rates
Retargeting campaigns are a great way to get more conversions on existing campaigns and bring in a new set of leads.
You can increase your retention rates with your retargeting campaigns. Higher retention rates for existing customers mean that you can increase your sales per lead and get more revenue per lead.
5. Improves Brand Visibility
Retargeting can be used to increase the visibility of your brand.
If customers see your company’s product in different places online, you will have more potential customers who discovered your brand and might choose to buy from you.
Normally, retargeting campaigns can also have disadvantages. If not handled properly, they can have a disastrous effect on your business or brand.
Disadvantages of Retargeting
1. Time Factor
The downside of a retargeting campaign is that it requires a lot of time to be executed properly and to attract users.
2. Violation of Privacy
Some consumers may think that retargeting violates privacy.
They might feel weirded out by the fact that your business or brand knows what they are doing online. It makes them feel unsafe.
3. Incorrect Data
The data collected by website cookies can be inaccurate at times.
This might happen as a result of a website glitch or when the user types in incorrect information during signup. Sometimes the user might be a fake lead or uninterested in the product.
In conclusion, retargeting is an important tool in advertising.
Despite having some shortcomings, this advertising technique can bring you a lot of customers and turn a profit as a result.
Take a look at our infographic on retargeting stats below: