Remarketing as a concept is fairly simple. Advertise to internet users who have viewed products or services online but left before any significant conversion or buying. This is achieved by purchasing ad spaces on other websites. It is considered as one of the best ways to sell simply because an average customer visits a website five to eight times before actually converting, according to Row Boldessara, founder & CEO of digital marketing agency Zebra advertisement.
Online ad space is chiefly divided into three big domains, Google, Bing and social media. And purchasing this space is a bidding process rather than a fixed monetary transaction with the advantage that you are charged, only if a customer clicks on view your ad.
Bid price alone doesn’t determine the frequency or visibility of an ad on a site selling ad space, each platform was proprietary formula to assess the stature of an advertisement. While Google uses an overall quality score comprising of big cost, navigability and relevance of landing pages of the site, Facebook focusses more on the relevance score. Hence the best strategy is to set targeted parameters before engaging in open bidding. This requires using the best technology by combination of vendors. Apart from bidding process, time is another factor influencing remarketing strategy. Google and Bing have largest retargeting time around 580 days, while Facebook has only 180 days. Longer campaigns are preferred for expensive products.
Another advantage of remarketing is possibility of personalization. Rather than reaching out to every person who views a website, a retargeting campaign can be centered on users whose captured site visit data indicates higher likelihood of conversion. The extent of retargeting can be determined by the extent of user interaction on the website.
Hence, engaging the newly formed or well established customer base through powerful retargeting techniques, be it displaying the newly available discounts or through deep lining to various unexplored sections of the site is key to expansion of business and enhancing the visibility on a global level