4 Metrics for running a successful Retargeting Campaign
In our last blog, we had talked about some key strategies for greater user engagement in mobile apps. While addressing the issue of reaching out to inactive users, I made a brief mention about the effectiveness of Retargeting Ads, which have become a core part of mobile marketing. In this post, let’s take a quick look at some handy points that can ensure the success of retargeting campaigns.
When it comes to engaging users who had shown an interest in your brand or products, retargeting is your go-to strategy. In comparison to traditional display ads, retargeting ads have proven to be more effective in terms of improved ROI, reduced cost per impression and cost effective branding. As per statistics, while the average click-through rate of retargeted ads is almost 0.7%, for display ads it is only 0.07%. This is because retargeted ads are always one step ahead in terms of brand recognition and the point of contact is already established. So, when people see a retargeted ad, they’re instantly reminded about their earlier encounter with the brand’s product. No wonder, this precise targeting approach of retargeting ads helps in achieving better conversion rates for advertisers.
To make the best of retargeting, let’s glance through few important ideas that will help you nail down a solid action oriented marketing plan.
1) Audience Segmentation
This is the first and foremost criterion to be considered before you begin shooting your ads. By observing the past behaviour of consumers, you can divide them into segments and then design specific offers for them. Doesn’t it make more sense to know about the preferences of your users before you start luring them with ads? Suppose Amazon learns that there is a particular consumer group which prefers buying Apple products, then it is logical for them to tailor creatives based on that information. Now, Amazon can easily create specific offers for this segment of users and float relevant ads to catch their attention. This can be done by sharing the device IDs of these identified users with the retargeting platform. Further, once audience segmentation is done, it makes it easier to understand the user’s purchase journey and then show them relevant ads for each stage.
2) Are you talking to the right audience?
Relevancy acts as a decisive factor while targeting users with your advertisements. Wouldn’t you want your ads to reach the right user? That’s where important insights on demography, geography and other related factors come to play. Gathering useful data about the age group, gender, likes and dislikes of your audience, have a big role in ensuring better targeting. By taking care of all these factors, you can save your valuable impressions from reaching irrelevant consumers. This way you can also trim down the costs of running a retargeting campaign by striking off those consumers who are not relevant. Moreover, with the help of dynamic retargeting, you can show the exact products to your users, which they had previously desired to purchase.
3) Don’t bore your users away.
Do you feel that advertisements are stalking you online? Whether it’s your Facebook page or your Twitter feed, you see some ads everywhere and that can leave you feeling quite annoyed, isn’t it? Now, think about this same problem from the perspective of your likely user. It wouldn’t be surprising to see that your user ends up hiding your ad. But that’s the last thing you would want. That’s exactly where using frequency caps can come to your rescue! You can set a limit on the number of times your ad gets shown to a potential customer with frequency caps. This will make sure that your ads don’t get on the nerves of your audience and invite a negative call to action. According to ReTargeter, it is better to not display an ad to a particular user beyond 17-20 times.
4) Get the first impression right with striking Creatives!
Creatives are the essence of a successful retargeting campaign. Your potential audience will make up their mind within the first few seconds of viewing your Banners Ads and so, it’s very important get that first impression right. According to some research, 25% consumers enjoy viewing retargeted ads as they remind them of the products they had seen earlier.
Thus, the focus should be on creating ads that are not just attractive but also carry clear call to action features. Most marketers make the mistake of punching in too much information in their banner ad space and this tactic often backfires. To avoid such a scenario in your retargeting campaigns, your ads should be designed in such a way that the instructions are clear to the users and they don’t lose interest. You can stick to a concise copy and minimal design to keep your creatives interactive. Also, to ensure the success of your ads, it is crucial to A/B test your creatives before taking them live.
If you intend to run your retargeting campaign for a longer duration, using fresh creatives is a must to keep your audience engaged. It’s also wiser to design your creatives according to the platform used to show the retargeted ads. For eg, creatives for picture oriented social media platforms like Instagram need to be more interactive in terms of using catchy pictures to convey the message.
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