If you are using the term remarketing and retargeting interchangeably, you are not alone. It is a pretty common mix-up in the market landscape, but the terms indicate two different practices in a digital marketing campaign.
Imagine if every physical store owner can nudge them towards the product or service based on their preference. Ideal, isn’t it? Although we haven’t thought of a way to do it offline, we certainly can do it online.
If you are someone who browses through e-commerce websites to window shop or buys products, you would know how the products and services come back at you like a boomerang for days. Let’s not forget the e-mail you receive when you abandon something on the cart. Both retargeting and remarketing are hidden here. The article will take a deep dive to explain how these two similar yet different concepts and the best practices revolving around each of them improve buyer experience for your customers.
Exploring the concept of Retargeting –
It is observed that 79% of people abandon their cart before finishing the purchase, it is up to you to drive them to complete their purchase.
Thankfully, a small snippet of code, pixel, can track the user behavior through the cookies placed in their browser. The cookies will act as the eyes and ears of your website to understand user behavior and place customized ads in the right places.
It will enable you to use the power of Internet ads to drive interested prospects back to the website to complete the purchase. After all, you will be presenting your brand and the products they love everywhere they go. People eventually give in to their desires.
Types of retargeting –
Retargeting helps you engage and interact with any potential customer who interacts with your brand, either on-site or off-site.
On-site Retargeting – It refers to interactions on the website with direct Google search, inbound marketing channels, or email campaign CTAs.
Off-site Retargeting – Social media platforms are compelling to engage and interact with their target audience through the distributed content in social media channels or targeted ads that help you interact with the audience of similar brands.
Targeting the practice of Remarketing –
Although both the practices are focused on bringing back customers who didn’t complete the desired action, remarketing inclines towards using email as the medium rather than ads. Study signifies that segmented email campaigns can drive a whopping 760% increase in revenue and drive more customers to make additional purchases. It also serves as a great medium to rekindle connections with your present or past customers.
These people have established their interest in your brand, and the little nudge regarding a discount offer or an introduction to a new product line can generate quick and easy sales, providing you keep them interesting and captivating.
Remarketing is the result of your lead generation system in your marketing strategy.
What blurs the line between Remarketing and Retargeting?
Although we have established that these two practices are quite different, there are similarities in them that confuse people.
Retargeting and Remarketing have different short-term goals, but their long-term goals are focused on improving the conversion rate of the sales by –
- Advertising to audiences who have interacted with brand or business in the past.
- Engage with qualified audiences who are genuinely interested in your business.
- Build brand awareness and establish yourselves as a credible brand with a lasting impression on potential customers.
While at it, it is also essential to distinguish the practices –
The main objective of retargeting tactics is to improve website traffic, brand awareness and drive sales. On the other hand, remarketing focuses on re-engaging past customers with the sole intention of driving sales.
Another factor to consider is the cost – while retargeting displays ads that cost money, remarketing leverages the good old emails that can be executed without cashing money. In a nutshell, businesses need to leverage both remarketing and retargeting practices and allow them to go hand in hand, as they will help you nurture and foster relationships with the audience – whether they are existing or potential customers.
