How to Use Retargeting to Win Back Holiday Shoppers
With holiday campaign implementation right around the corner (if not already begun), it's important retail brand marketers layer in retargeting as part of their digital strategy. This tactic helps engage users who have expressed interest in the brand and win them back by advertising relevant products to them. This includes consumers who visited your website and took no action, cart abandoners and customers that have made a purchase.
The key to retargeting is personalization and relevance to the consumer. Separate cookie pools should be created in order to target users based on the part of the retailer's site they've visited. Retailers need to make sure they're serving ads to users who have already showed interest in a particular product. By doing so you're providing a quality user experience and aren't wasting impressions on users who have no interest in buying the product.
Each visitor segment needs to be addressed differently since they're in various stages of the purchase funnel. For users who have visited your site and taken no action, offer them a coupon for their next purchase. Through the use of dynamic targeting, retailers can retarget customers who have recently made a purchase by showing them additional items they might consider buying. To help stretch your marketing budget, you can remove users once they've made a purchase so impressions aren't wasted on those customers who have already made a purchase.
Retailers should allocate 5 percent to 10 percent of their campaign budget towards testing new audience segments, offers, creative and messaging. Testing allows retailers to scale campaigns and discover new audiences for success. Campaign media budgets need to be fluid and have the ability to be adjusted accordingly based on performance and optimization needs. Give a marketing channel enough data and time in order to make sure there's sufficient data to evaluate performance. It's a best practice to start broad, then narrow in on top-performing audience segments, messaging and creative as a campaign matures and results are analyzed.