Retargeted Advertising: Measure, Mix and Move (Fast)!
On average, 97 percent of website visitors don't buy, and of those who leave without making a purchase, only 8 percent will return to buy later. If you can nudge those that don't buy and get them back to the site, however, they're nine times more likely to make a purchase than a first-time visitor.
This is compelling math that shows why remarketing works so well. Nudge those who don't buy and get them to return. The more they return, the more likely they are to buy.
The most widely used remarketing tactic is retargeted display advertising, where brand ads follow you around the web. However, making retargeted advertising work well requires a deeper understanding of buyer behavior. A visitor who adds an item to a shopping cart is showing clear intent. But within 12 hours, three-quarters of those visitors will have lost interest, never to return and purchase.
This rapid decay of intent underscores that in all aspects of remarketing, timing is critical. You need to reach these prospects fast, while their interest in your brand and products remains high. In advertising terms, it means you have only a few hours to find your visitor on other websites. This is why real-time bidding (RTB) is key to retargeted display advertising. RTB allows you to buy only those ads when you've found your visitor on the web. You only pay for the media impressions that you really want, focusing your budget on finding the highest value right when visitors are most likely to buy.
Here are three best practices to make retargeted advertising really fly:
1. Find them fast, hit them hard. Time is of the essence when you want to recover and convert visitors. The secret is to find the highest quality prospects as quickly as possible, and hit them hard. RTB enables you to do exactly this, but is only part of the answer. Finding your visitor fast also means that you need maximum reach. You need to be "listening" on as many of the major ad exchange bidding streams as possible. This gives a secondary benefit of being able to pick and choose which impressions you want to bid on since you now have choice across a broad number of publishers.