Lately, I have been spending a lot of my time of reading about the effects of remarketing. If you are not familiar with remarketing, it describes the act of using web technology to target email or ad campaigns at users who’ve shown interest in your product or services.
As I continued to investigate the benefits of remarketing, or retargeting as it is often referred, I found that I began thinking of some of my own experiences with it as a consumer.
How I was retargeted
This brought me to one of my more recent attempted purchases online via the NFL e-commerce site. A couple of colleagues and I decided we wanted to make an order for Cleveland Browns merchandise. As Canadians, we don’t have NFL teams -- meaning, we don’t have an allegiance to our hometown team or even regional loyalty so we have the ability to choose any team we want, any team. Sure, we could go with the sure fire bet, the perennial Super Bowl favorite, but alas, me and my two colleagues opted for the Cleveland Browns… That’s right the Cleveland Browns. Notoriously one of the worst franchises who, year after year, provide the slimmest bit of hope only to pull the rug out from under our feet three games into the season and continue to be the laughing stock of the league, but I digress.
Where was I? Right,... for all their faults the three of us remain die hard Cleveland Browns fans so we head to the website to pick our products. We find what we want and add it to the cart, however, due to some logistical issues it takes us a couple of days to complete the order.
In that time I received some of the following remarketing emails.
Compliments on choice
Call to action to come back
Full disclosure, we decided not to move forward with the order, however, this got me thinking. How effective is retargeting/remarketing? This is what I found:
- 70% of website visitors who are retargeted with display ads or emails are more likely to convert on your website.
- 72% of online shoppers are likely to abandon their shopping carts prior to purchase. Without retargeting only 8% return to complete their purchase.
- That 8 % goes up to 26% with retargeting.
Granted the example I gave was the NFL, a multi-billion dollar organization with infinite marketing funds and truly one of the best marketers out there. But what I really wanted to know about was, how do smaller companies remarket to their clients/prospects?
What are your remarketing strategies and success stories? Let us know in the comments below!
iQmetrix partners with Chatterspot to offer a variety of innovative marketing solutions.