04 Aug Retarget Marketing: 2016 Update
As the digital world grows, the demand for digital and online marketing grows with it. Social media marketing, search engine optimization, and other forms of online advertising are beginning to come forward as important aspects of the overall advertising experience. However, not all are considered a priority. Retarget marketing may be considered one of the most underused marketing technologies, with only one in five marketers dedicating a separate budget just for retargeting.
Retarget marketing can be a very beneficial and effective form of digital advertising. It allows for display ads to be placed on network websites in front of prospects who have searched related keywords relevant to a certain business or those who have visited the website. The effectiveness of these online ads can be shown in that three out of five US online buyers notice ads for products they have searched for on other sites.
Online consumers are beginning to show an open attitude towards receiving these behaviorally retargeting ads. Statistics show that 30% of online consumers have shown a positive reception to the retargeted ads. Only 11% have shown a negative reception, and 59% remain neutral.
Reception Towards Retargeting Ads
Web visitors who have had a positive experience with retargeting display ads are 70% more likely to convert to that business’ website.
Just like with any other advertising outlet, there are certain practices that must be taken in terms of privacy and casualness.
However, when utilized correctly, it can boost online ad response up to 400%. Although it is vastly underused, retarget marketing can be crucial to reaching the digital market.
Retarget Marketing in 2016
In 2016, that remains true retargeting is still highly underrated. Research shows that 3 out of 4 consumers now notice retargeted ads. This statistic fits well with other research done in last 2 years which shows an increase response to personalization in advertising. 41% of customers interact with ads targeted at their interests compared to random ones.
The other major benefit to retarget marketing is price. It is currently one of the lowest cost digital marketing tactics available. The cost has risen slowly over the past few years but the conversion rates having increased dramatically. When your strategizing and budgeting for 2017, we highly recommend allotting a budget directly towards retarget marketing. The capabilities of platforms are getting more sophisticated every year.