Digital marketing offered marketing professionals something traditional forms of marketing could not- data. Using data, marketers could get access to figures they otherwise had no knowledge about. One key data which came out was the number of customers and leads which stopped buying products from a particular brand.
The process of reaching out to old customers and unfulfilled leads of a brand is called remarketing. Essentially, remarketing is an effort to improve efficiency, aiming to make the maximum use of existing leads and contacts.
Any modern digital marketing campaign requires a concerted effort to use remarketing to drive more sales and revenues. In this article, we will discuss remarketing briefly, going over its significance and advantages.
What is the Significance of Remarketing?
In an ideal marketing team, there is an obvious need to make use of all available resources. Whether it’s making complete use of the content, social media following, or data, the optimal use of each resource defines much of what digital marketing is all about.
Remarketing is a natural product of the push for this level of efficiency. Reaching out to old customers and leads is a way to identify what went wrong earlier and how things can be fixed to bring old customers back to the fold.
In practice, remarketing is done through the ads. When a customer visits a website and performs an action, the session is recorded in the cookie data of the website. If the customer doesn’t end up buying anything, remarketing efforts are then triggered and the customer is shown ads related to the website from which he/she didn’t complete the purchase.
Clear examples of this can be seen by people commonly when they see adverts of items they left in their shopping cart. This data is made available to digital marketers who can appropriately target such customers.
Advantages of Remarketing
The advantages of remarketing are many.
For one, the customers being targeted through remarketing are known to have a high conversion rate. This is because their interest in the product is already established. Not only does this mean increased efficiency, but saving other resources such as time and money.
Secondly, the money the company would otherwise have used to find new customers can be allocated to other use, thus creating different opportunities. Remarketing thus ensures an opportunity benefit attached along with it.
Thirdly, remarketing benefits all parties in question. Customers are reminded of the products they were interested in buying once, which they could have otherwise forgotten. Digital marketers save time and resources because they are dealing with people whose interest in the product or service is established. The health of the company also improves as the revenue grows with a great investment in customer acquisition.
In conclusion, remarketing provides a whole host of benefits which makes it an integral part of any well-planned digital marketing campaign. Many companies use automated techniques to deal with remarketing, which is a great option if viable to a company. At its heart, remarketing is less about the technique through which it is deployed and more about the actual governing principle of engaging with users who have previously interacted with the brand.
Sudha Mehta is an SEO executive and Assit. SMO profile with 3 years experience in the field. She began as an engineer, later switching to SEO and becoming a digital marketing Assistant along the way. She spends most of her time in Digital Marketing & content writing & working with a digital marketing institute in Delhi to design courses for prospective students.