I belong to the 97% who end up not buying the things that they put in their online shopping cart. Are you a part of that too?
A couple of researches have stated that only 2%-3% of buyers actually check-out and purchase the products added to their cart. The probable reason behind this is that first-time website visitors don’t know much about your business, or that they think that your price is too high compared to other brands, they may not trust you enough, or they were only shopping for fun. Either way, those numbers don't look good, and we're here to help you out.
What is Remarketing?
Remarketing, in simple terms, is re-engaging to your customers: offering your products to the same accounts in your site that have previously purchased or done business with you.
Historically, remarketing has been a term that refers to collecting customer information and then using it to remarket to them later. This is usually done by using email or even direct mail.
How can Remarketing help boost my sales?
This method includes using the information you already have of your past customers, so you will be using that information to create a custom email or newsletter which is aligned to the things that they have previously ordered. It is telling them in a very subtle manner that, 'Hey, since you bought this, you might be interested in buying this too!"
Since the main focus of remarketing is on email campaigns that are targeted at customers who
• Abandoned their cart on a website.
• Marked products as “favorites.”
• Added a product to their wish list.
•Haven’t made a purchase for a while.
Something in your business has already caught their attention, and they only need a little nudge to convince them that your products are worth the try.
What is Retargeting?
Retargeting is more focused on attracting a new target audience by creating advertisements on platforms like Facebook, TikTok, or Instagram. This new target audience may or may have not visited your site or app yet, but expresses interest on buying the same items by browsing through them on search engines or social media sites.
How can Retargeting boost my sales?
As a rule of thumb in marketing, buyers are most likely to purchase items when they have already been in your site for at least seven times. When you retarget your audience, you will not only compel the same set of people to purchase again or make them buy the things that you sell- you will also convince others to at least look at your site, see what you offer, then do it again.
Remarketing vs. Retargeting – The Best Strategies
- Personalize the Content
- Offer Discounts and Promotions
- Keep the Marketing Funnel In Your Mind
For more information regarding this, read this article.