Retargeting – when online targeted advertising is delivered to consumers based on previous Internet actions that did not result in a past conversion – has become more importunate (persistent) as we continue to increasingly use the Internet to shop, order food, book travel, monitor the news or for pretty much anything you want to do without leaving the house.
It is also becoming more widely used within the advertising arena. With so many similar brands in the market it is hard to differentiation yourself from the other guy, and this form of remarketing can help to successfully convert those lost opportunities.
Oddly enough, after reading Learmonth’s post I was having dinner with my friend Nancy who was “weirded out” by a similiar experience. Ever since she booked a room at Loews Hotel ads for the hotel began appearing on every website that she visited. She is a sales trader so PPC (pay-per-click), Twitter, retargeting, and cookies are not really in her vocabulary. So I thought it would be interesting to research if retargeting is as effective as marketing and advertising professionals believe and how it actually works.
According to Criteo, a company that specializes in scalable personalized retargeting, more than 90 percent of website visitors leave before converting (i.e., making a purchase, downloading a white paper, etc.) Other research has shown that it can take at least seven follow-up emails or phone calls with prospects to actual convert them to a sale. If we are only tracking those visitors that convert on our physical websites, we are simply losing out on a possible sale down the road. Websites these days are optimized for search and have the technology to place cookies on each visitor’s computers to measure the site’s true audience size, but that is only capturing IP addresses most of the time. Then they have us, until we remove all our cookies and empty our cache.
So how do these retargeting customized ads work? When a prospect/client browses your website they become tagged with a snippet of code, which tracks which products they have shown interest in. When they leave the website and begin visiting other pages that’s when the retargeting begins. Banner ads customized to their search on your site start appearing on sites all over the web, from news, social networks, blogs, etc.
Companies that are using retargeting firms, such as Fetchback, in their marketing strategy have seen a 592 percent increase in ROI and conversions up by 94 percent. There are many other benefits to this form of behavioral marketing. It helps streamline all of your campaigns and the frequency of the ads helps keep your brand on the top of prospects minds. (Most services have an integrated feature that allows you to place a limit on the frequency at which the ads appear, so you don’t bomb your potential clients and “creep” them out because everywhere they go they see you.)
Plus, your ads are not static on a particular site related to your industry, which usually does not yield a lot of traffic because that market is already saturated and are either already your clients or know who you are. With retargeting your ads you are only reengaging with new prospects that have already shown interest in your brand; you can focus on what their needs are and manage your ROI.
In short, retargeting helps build your brand and online presence, while increasing the chances of reengaging your audience. It is not going to convert all on its own and has to be used with traditional marketing tactics to be effective. So don’t eliminate your current strategies. It is also important to measure the effectiveness of your retargeting campaigns, ensuring it is worth the investment and that your conversion rates are higher.
This article from Inc. Magazine highlights a retargeting success story involving Scottevest and its partnership with firm AdRoll.
There is one downside to the growing popularity for converting leads more efficiently via retargeting and that is the possibility that people may have the choice to opt-out (a do not call list for the Internet) of all behavioral targeting ads. What does that do for brands that are following the rules and not hunting down prospects on the web? We lose the opportunity to generate qualified leads for our sales team and revenue for the company. If you do use retargeting make sure you limit your reach frequency because when people begin to feel harassed and stalked by brands they will opt-out; I would.
Is your organization taking on the strategy of retargeting advertising? If so, how successful have you been with campaigns and reengaging lost prospects? Do you think we should have the right to opt-out of all behavioral targeting ad campaigns or just the irritating ones? Please share your thoughts and ideas with me and the BurrellesLuceFresh Ideas readers.
My friends and I have joked over the years about CEOs (who will remain nameless) taking on the persona of the “Emperor” in the Hans Christian Anderson tale, The Emperor’s New Clothes. It was all fun and games until we let a CFO friend in on the joke, who suggested that, perhaps, marketing and public relations professionals are the scoundrels in this analogy. Ouch! This seemed harsh, but it gave me pause to reflect and better educate my CFO friend on why we are not the scoundrels.
In the spirit of his DNA, the CFO only responded to the numbers. Not just any numbers, but those that impacted the bottom line of the business. Certainly, this was the beginning of a beautiful relationship. He opened my eyes to the importance of every activity driving the bottom line, and I opened his eyes to the importance of the customer experience. Without evaluation and measurement, it was hard to know where you’ve been, where you are, where you’re going, and the most efficient way to get there.
While he appreciated the metrics I was using to manage the department (the outputs and the outtakes) and pointed out that perhaps those were simply the bolts of invisible fabric, clothing my CEO (and organization) with those metrics would be just like sending him out into the crowd naked. This was a pointed lesson that took hold and has stayed with me throughout the years.
In this analogy, is social media the cloth, the crowd, or the golden thread?
Social media is the golden thread. It’s real and it’s quantifiable. It’s how you use it in the weave of your fabric that makes it an effective cover of your efforts.
In social media, one of the easiest metrics to quantify is the conversion of an unknown to a qualified prospect. While this is an important metric to the marketing department to understand how your campaigns are performing, it’s only when the conversion becomes a sale (or outcome equivalent) that it really matters to the organization as a whole. The same stands true with engagement. While engagement is important, we should all look for opportunities to listen and learn from our customers. Until there’s a marriage or the deal is closed, it’s really all ceremony.
The moral of the story?
Know the difference between metrics necessary to manage your department and those important to the business objectives of your organization.
Don’t allow your organization or CEO to be naked while pretending to be clothed.
As a matter of strategy, make sure your organization’s “suit” is made of only the finest fabric, woven with solid metrics that are visible to the crowds (investors and stakeholders).
Don’t invest your time or resources in anything—including and perhaps especially, social media—that doesn’t cover your organization as you venture out into the crowds.
In the final analysis, trust your eyes, and if something doesn’t look right, say so. Even if it isn’t a popular thing to do.
Jeffrey Gitomer’s Sales Caffeine column is a weekly coffee break stop for me. This week’s column struck me, in particular, because it was written from the perspective of a purchaser.
Someone in purchasing, who reads his column, had contacted Jeffrey and he, in turn, had asked her for a list of the smart things that lead to a sale. She also gave him the dumb list, but I am just going to reinforce the positives below. We’ve probably heard them before, but this is a clear concise list that can never be repeated too often:
10 Smart “Things” that Lead to a Sale
Honesty. Truth at all times and at all costs. Do not lie and think you’ll get away with it, because you won’t. If I can’t tell you’re a liar immediately. I’ll find out in a short period of time. One lie banishes you.
Give me valuable ideas. If you can provide suggestions or ideas on how to make business better, you’ll be a hero to me and a valuable resource.
Understand and be interested in my business. If you make an attempt to show interest and understand, I’ll spend all the time in the world to educate you, because you’ll only be better equipped to help me. Plus, it will make your job easier as well. A win for me – and a bigger win for you.
Treat me with respect. Be courteous, on time and well mannered. If you’re not, it’s a guaranteed deal-killer.
Be a decent human being, with some sense of ethics and morals. It makes me feel positive about doing business with you and gives me some reassurance you won’t try to screw me over.
Know your own businesscold. Know it well enough so that you can make an understandable and knowledgeable presentation and answer my questions about your product or service. Provide good supporting materials – especially testimonials.
Be friendly and personable. It helps to establish a sense of comfort and trust.
Remember the details. They’re small, but they can completely make my day or ruin it.
Make good on your word. If you can’t, come to me and we’ll talk it out. If you don’t, then your credibility is damaged or even ruined (depending on how often it happens and when).
Take responsibility. You are my link to your company. Handle what I need seamlessly, and own up to a mistake if you make one.
And the single smartest thing that leads to a sale:
Don’t “sell” me. Let me “buy.” Make me see for myself that “buying” is the right thing to do.
What I like best about these tips is that all or mostly everything listed applies to any sales situation whether you are “selling” a story idea to a journalist, a service like BurrellesLuce, or almost any other “product.” And it’s also the backbone of a client service relationship as well. Here’s the customer laying out in front of us how to do business with them. Remember the adage, the customer’s always right?
And if you’re looking to tie this to your PR agency Jim Joseph, president Lippe Taylor Brand Communications, provides some tips on closing a sale in this video.
How will you apply these the next time you are working with a client or prospect or the media? If you already incorporate similar practices into current “selling” strategy, how have they benefited you?
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Bio: I’ve been in the media business all of my adult life, first in newspapers before going full circle and joining BurrellesLuce, where I now direct the Media Measurement department. I’ve always enjoyed meeting and especially listening to the needs of our customers and others in the public relations and communications fields; I welcome sharing ideas through the Fresh Ideas blog. One of my professional passions is providing the type of service to a client that makes them respond, “atta girl” – inspiring our entire team to keep striving to be the best. Although I have been lucky enough to travel through much of Asia and most major U.S. cities for business or pleasure, my free time is now spent with my daughter, visiting family/friends, and of course the Jersey shore. Twitter: @domeasurement LinkedIn: Carol Holden Facebook: BurrellesLuce
brands in the market it is hard to differentiation yourself from the other guy, and this form of remarketing can help to successfully convert those lost opportunities.
Jeffrey Gitomer’s Sales Caffeine column is a weekly coffee break stop for me. 
