Retargeting is key to a great marketing strategy. It helps to increase conversions and decrease the cost to acquire customers. This makes it essential to growing and scaling your business.
In Episode 83 of the Marketing Matrix Podcast, I talk about why retargeting is so important, the different ways you can do it, and the three groups that you can retarget.
Here are some of the most notable takeaways:
Why is it So Important?
There are three main reasons why retargeting or remarketing is so important:
- It increases conversion rate. How? If you’re running ads that convert at 2%, you can increase that to 3% or 4% by targeting people who previously clicked and send them back into your ecosystem.
- It decreases the cost to acquire a customer. Basically, when you decrease the cost to acquire a customer, it increases your profit margin, which also increases your ability to spend more to acquire that customer. The more you’re able to spend, the faster you’re able to build your business.
- It builds brand awareness. By getting in front of your customers again and again, you’re on your prospect’s mind often, and you become seen as an authority in your niche.
How Do You Retarget?
It is easiest to retarget through Facebook ads because they use a pixel, which is a piece of code on your site that tracks people’s behavior through your website. If they clicked on a certain button or visited a certain page, you can invite them to come back on another page that you want them to visit.
Retargeting can also be done with emails. Once you’ve acquired the customer via a lead magnet or a previous purchase, you can cross-sell a product or offer to them.
Retargeting also works with SMS and phone. Business owners can get on the phone with someone who missed an appointment and make the offer again. This works because it often takes multiple touches before someone will become a paying customer.
One of my favorite ways to retarget or remarket is through Facebook messenger. Whenever someone comments or shares an ad, you can open up a conversation with them. It’s a really powerful way to get them into your ecosystem and get them in front of your content.
The 3 Main Groups to Retarget
There are 3 main groups of people that you can retarget, not only with ads, but also with organic methods.
First are engagers. They’re the coldest of the three groups. They’ve engaged with your content, but they haven’t yet taken action. To retarget engagers, it’s important to include a call to action so they take the next step with you in your customer journey.
Second are leads. They’ve downloaded a lead magnet, registered for your training, and may have even attended part of your free webinar. To re-engage with these people, you need to invite them to finish consuming the content or purchase your paid offer.
Third are bailers. These are people who went through a lot of your process but got cold feet in the end. They might’ve filled out part of your client application, read through your entire sales page, or visited your order form, but left at the last minute. You’ve already cultivated a relationship with bailers, and when you retarget them you must talk to them boldly and invite them to complete the journey to purchase your paid offer.
Remarketing is an important part of understanding your dream traffic process. Take what you’ve learned, and work to increase your conversions and decrease the cost to acquire those customers.