Must. Start. Posting. More.
Now honestly, there are a bag full of topics which I’m looking to tackle but this internship experience is one of the most fruitful process thus far, simply lots of positives which I aim to share across upon crossing the final mark (A valid excuse right there).
And… Introducing my topic of the day: Remarketing
What is Remarketing?
Remarketing (aka Retargeting) is about pushing contents to specific people whom had visited your website or used your mobile app without making a purchase decision. Upon collecting cookies and tags from visitors and adding of your tags, a remarketing list will be created to showcase who should you reach out to.
Infographic cited from: Digitrio.com.sg
Instead of seeking new customers, allocating your advertising resources to win back some lost loyalty isn’t a bad move considering that you have a 20 to 40% chance of successfully selling to an ex customer as compared to a 5 to 20% chance of acquiring a new one (Measure Metrics). It definitely ticks the box in terms of reach as there were hopeful signs of information acquiring and purchase intents.
I believe this goes out to all consumers – What is the estimated amount of attention span which an individual dedicates to web banners from the beginning? A consumer needs / wants are momentary which would probably be resolved before those contents are pushed constantly on every browsing experience.
Data doesn’t lie but despite proven to be effective in terms of conversion rate and ROI, everybody hates to see repetitive contents being push out constantly. In short, if the same old product doesn’t interests me, stop overloading or I will never patronize again.
Businesses should keep in mind to constantly refresh contents which appears on internet users’ browser or risk negative implications such as losing potential loyal customers and decreased brand reputation. Hence, a strategy must be in placed by utilizing the remarketing list such as:
1) Showcasing other products via cross-selling instead
2) Keep internet users interested by showcasing new products along the same category
Signing off! BACK TO WORK!