Hey, did you know your e-commerce website can track shopper behavior and respond with dynamic advertising and that this can be used to bring visitors back to your shop even after they’ve left to visit other sites? This is called product retargeting. Now, let’s explore what it is, how it works and tips for running your own successful retargeting campaigns.
We’ve all browse an online shop, put a product in our shopping cart, and then, for whatever reason, decided not to buy it. Think of the last time that you did this. Did you then suddenly start seeing ads for that product you didn’t buy on other websites across the Web? Yeah, well, that’s what we call retargeting. The way shopper behaves on an e-commerce site can tell that shop owner a lot about which products they’re interested in and even what they’re on the verge of buying. This is very useful information for your business because it allows you to create very specific advertisements aimed at people who have shown an interest in certain products. That’s what product, retargeting or marketing is all about. Let’s say someone is shopping online for bespoke furniture, they visit your e-commerce site and they fall in love with an exquisitely carved armoire that you offer. But halfway through the checkout process, they decide to hold off and see if any other shops had any special offers first. Luckily, while they were browsing your online furniture store, you were using a product retargeting solution. This is a small bit of code placed on the pages of your website. This code tracks which products on that page the shopper is interested in. Of course, this tracking code uses anonymous methods, so no personal information is exchanged. But what has happened is that your website tracked a behavior. It now knows that the shopper wanted that armoire and that they didn’t actually buy it. That’s online shopping. Behavior is great information for you as an advertiser.
Now you can use that information to take action. This is where products retargeting solutions come into play. There are a number of retargeting options out there. All of them will allow you to collect information and then target audiences with customized ads based on that information. So let’s say the shopper leaves your furniture shop and clicks over to a news website. They’re reading the news article and off to the right of the page. What do they see? Yelp, your digital ad with an image of that armoire they were just looking at. You may even include a 20 percent discount here to that incentive, might just be enough to persuade them to make that purchase. After all, that’s basically products retargeting. There are many services available like Google AdWords and Crisil. The services basically work in the same way, so let’s talk a bit more about that. It starts with that bit of code we mentioned that tracks shoppers interactions. This information is then sent to your products retargeting service. As an advertiser, you can go to your product retargeting service and set up rules and parameters. So when a person browsing your site meets those parameters, the service will then start targeting them with advertisements over one or more Internet advertising networks. Since the service knows exactly which products the shopper was interested in, those advertisements can be very specific and dynamic. Now let’s look at a few guidelines for running these kinds of campaigns. First, you don’t always have to offer a discount right away. While in the earlier example we considered price as a reason the shopper didn’t buy. In reality, there are loads of reasons people leave websites without making a purchase and if you always offer a discount, you could be selling yourself short next. It’s good to know when to stop showing these ads. It’s certainly possible that the visits have found the same products somewhere else and bought it or simply changed their mind and isn’t going to buy it at any price. Most retargeting solutions allow you to set limits and experiment with just how many times you’ll show the same ad to the same person and for how long. As with any advertising campaign, it’s important to measure and optimize the performance of your product retargeting campaigns over time.
This means tracking conversion rates, testing new types of ads, tweaking your parameters and using analytics to manage these campaigns. Products we targeting can be a great way to reengage visitors that might not have returned otherwise. Knowing how it works, how to do it and how to optimize over time can make these campaigns a great addition to your digital marketing plan.