Did you know that the online shopping retail sales have gone up from $231 billion in 2012 to a massive $370 billion within 5 years? This may present a pretty picture undoubtedly but it is also a fact that not every online retail business takes off from the very get-go. About 81% of shoppers do an online research before buying online which when scrutinized again into factual figures point to another crude fact. 96% of first-time visitors are not ready to make a purchase from a new online website right away.
As a relatively new online business, if you want to make a sale then you need to encourage people to come to your website and the best approach is to attract customers via retargeting. This post looks to tell you about some measures that will be helpful in your retargeting approach.
1. Using Facebook Retargeting:
This is one of the simplest solutions available to online businesses. As social media has become prevalent in our daily lives, it makes more sense to engage customers via this medium and what better help than a retargeting approach via Facebook. You can add pixel on your website which will then attach a cookie to the visitor’s browser so every time they are on Facebook, you can retarget your customers via custom ads and by boosting your blog posts.
2. Personalized ad campaigns:
No one has ever said no to personalized ads ever. This is a great strategy to increase your website’s click-through rates. A customer will always like a personalized approach and boosting their engagement on the website. A study by Jivox found that consumer engagement with online advertising increased three-fold with personalized ads in comparison to standardized display ads. Offering special discounts and urging visitors to take the next step to up their shopping experience works very well in personalized ad campaigns.
3. Email retargeting:
Retargeting visitors into full-fledged customers of your website via email marketing is one of the most standard approach followed by marketers and online retailers. As compared to normal e-commerce conversion rates of 2 to 4%, the email retargeting conversion rates stand at a whopping 41%. Email retargeting is useful as people who have subscribed to your email have already shown a liking for your product and getting these customers fully engaged can help bring in more potential business for your company.
4. Reduce shopping cart abandonment:
The major problem faced by e-commerce retailers is cart abandonment. A research by Baymard Institute showed that an average of 69% shoppers abandons their carts. Reasons for this vary from comparing prices, checking out alternative options and customers who are currently not ready to buy the products. A systematic retargeting approach can be pursued by making use of highly customized ads and making use of exit intent technology with targeted popup coupons.
A smart retargeting approach will not help turn visitors into potential customers but also drive your conversions. As customers have more options today than they did a decade ago, e-commerce retailers today need to work on their retargeting strategies if they are looking to establish themselves in this ever-growing market.