Remarketing vs. Retargeting: What's The Difference?
Tired of abandoned carts and forms? Feel like you’re always this close to converting a lead, only to watch them slip away? If so, you’ve probably considered implementing online conversion strategies to boost your business. Two buzzwords you’ll hear a lot: remarketing and retargeting.
Unfortunately, both novice digital advertisers and experienced online marketers often use these two terms interchangeably. They’re actually pretty different. Keep reading to find out what differentiates remarketing and retargeting, and what these strategies really meanfor your business.
Retargeting: Think All-Knowing Ads on Facebook, eCommerce, and Your Favorite Blogs
Ever spend a few minutes looking at sundresses or fidget spinners on a website, but ultimately, for some reason, decide against making that purchase? Then, hours — or sometimes seconds! — later, an ad for that very product you almost bought starts popping up everywhere. In your Instagram feed, your Facebook timeline, your local weather report.
That’s retargeting. In a nutshell, here’s how it works:
- Customers explore a website, dropping browser cookies with every click
- Those cookies, which store super-helpful data about individual users’ browsing history, follow the user to other webpages they view
- Provided a retargeting strategy is in place, advertisers will use these cookies to display ultra-relevant ads
Many times, marketers will use discounts like 10% off or free shipping in retargeting campaigns to entice abandoners to convert.
Remarketing: Specialty Tech, Direct-to-Consumer Delivery
Like retargeting, remarketing looks to recapture the attention of cart, form, and site abandoners. After all, people do get distracted. Screaming children, a doorbell, a barking dog, a funny meme. There are so many little things that prevent conversion of even the most captivated leads.
The big difference: to drive conversion of these distracted or unconvinced leads, remarketing uses more direct-to-lead strategies like email and yes, even snail mail.
If you think email and direct mail remarketing won’t make a difference in your business, then you’re sadly mistaken. These forms of communication remain king in today’s online era. And with abandonment rates ranging from 50 to 97%, you can’t afford to let these already-warm leads fall by the wayside.
Just as in retargeting, remarketing campaigns will sometimes offer incentives to help encourage a lead to perform a desired action.
If you want to try remarketing there are three main channels to focus on: Remarketing to leads, remarketing to current/past clients, and remarketing to lost leads. A great way to build your email list is start collecting live web form abandoners that can help you integrate lost leads as they come to your website. Then, continuous remarketing to active leads, current & past clients as well as these abandoned leads can help greatly increase your ROI, sales and lifetime client retention.
MOV•ology™ LLC provides real-time automated web form abandonment solutions to increase ROI using our Patented Technology(US Patents 9,280,531, 9,286,282 & 9,589,281).
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