Are Retargeting and Remarketing Strategies Right for Your Retail Business?
Remarketing and retargeting are big news in the world of online retail right now. But are such tactics right for your retail business? Such strategies work for the big box stores but can a smaller retailer really benefit from them?
Types of Remarketing and Retargeting
Any kind of strategy that revolves around targeting customers or browsers based on their past history of interactions with a website really counts as remarketing.
Over the past few years, as big brands have taken advantage of them, these techniques have become so common that consumers are becoming used to them, and now smaller retailers are able to afford to make use of them too.
One common way to use retargeting is via Google and a paid PPC campaign enabling businesses to target even those have yet to visit their site. By bidding on certain keywords a retailer can have their ads show when a searcher has recently queried the term even after the target has started a new search.
Remarketing uses the same basic principle but is usually implemented at the checkout on the retail site itself. If you ever shop on Amazon you will have seen it in action. As soon as a customer adds an item to their cart related items are displayed in an attempt to lure customers into buying more.
The most aggressive form of this type of marketing involves sending emails that encourage more related purchases that are specifically based on the consumer’s last transactions with the site rather than a simple site wide promotional type missive.
The Pros and Cons of Remarketing
Retargeting and remarketing strategies can benefit both retailers and their customers. These strategies allow a business to quickly and easily offer customers the types of items they have already demonstrated an interest in, usually resulting in a higher conversion rate and the consumer may save time by being offered just what they were looking for without having to search around too much.
Web searches however may not be the best indicator of behavior, as not everyone inputting a certain keyword is actually looking to part with any money. Smart businesses can get around this however by being a little more specific, actually adding the word ‘buy’ and similar terms to their paid keywords.
Email remarketing has to be approached carefully. Send too many ‘behavior based’ emails and a customer may begin to feel like they are being stalked! To avoid this these kinds of messages really should be limited to just a few a month at most.
Remarketing and retargeting can be very effective for small businesses and is certainly almost becoming the norm. As you do not need to make a huge investment to give it a try –a remarketing shopping cart plug in for example is inexpensive and easy to implement – why not do so today?