The third publication of ‘According to…’ is here! This month’s post offers some great insights about the hot topic of retargeting from industry expert Adam Berke. I attended Adam’s Display and Remarketing session at SearchFest, hosted by SEMpdx, in February. Adam was on the Founding Team for AdRoll, a retargeting platform that offers an effective and simple approach to retargeting, while delivering low CPMs and high conversion rates. Adam currently serves as President and was excited about the opportunity to provide you with five strategies to help make you the Robert Plant of Retargeting.
Everyone knows that rockstars are obsessed with performance marketing. Steven Tyler, huge SEM guy. Axl Rose? E-mail was his specialty. It took a high-level Geffen executive to convince him to change the name of “Welcome to the Inbox” to “Welcome to the Jungle.” Are you ready to join the ranks of these marketing rockstars?
1) Segment, Segment, Segment
Use the information people give you from the pages that they visit to retarget them with the most relevant messaging. What product categories did people visit? Are they looking at shoes or shirts? Do they hit certain high value pages, like a shopping cart or pricing page? These are all key “intent signals” that you can use to adjust creative and bidding strategy.
2) Take Time into Account
It’s amazing how underutilized this strategy is because it should be obvious. You should always take into account when a person last visited your site. From there, you can adjust your targeting and zero in on the time period that delivers the best performance. An advanced retargeting platform should, without a doubt, allow you analyze how different “time cohorts” perform, in order to determine who to target and when to target them.
3) Don’t End the Conversation at the Conversion
Retargeting is fantastic at increasing lifetime value if used properly. The people who are most likely to buy from you are the people who have bought from you before. I love the term “burn pixel”, as it suggests that you should never engage with customers after they purchase. Instead, use a conversion segment to re-engage with people a certain time period after they buy. You might want to negatively target these folks for a certain number of days, and then re-engage with complementary products, or perhaps to announce a sale or new product line.
4) Utilize the Display Ad Canvas
One of the benefits of display ads over search, is that you have a fairly large space within which to display products, logos, models, etc. If you sell hundreds or thousands of skus, maybe a dynamic ad solution is well suited for you. If that’s overkill, at least make sure you have well designed ads with a clear benefit statement and call to action.
5) Don’t Obsess Over Pricing Model
It’s amazing how some marketers obsess over pricing model (CPM vs. CPC vs. CPA) and ignore the stuff that really matters: technology, expertise, and a track record of success. At the end of the day, all retargeting is purchased based on a CPM bid. Based on those CPM bids, retargeting providers can translate the cost back as a cost per anything. Develop good systems for measuring ROI, then it’s just a matter of matching up cost to your returns. Whether that cost is determined based on clicks, conversions, or impressions doesn’t really matter. What’s more important is that your retargeting vendor can help you implement best practices and has the technology to execute them.
Marketers work long and hard to target relevant audiences, build interest in their products, and ultimately drive people to their websites. After all that hard work, it only makes sense to stay engaged with the select people who actually raise their hand and show that they’re interested. Maintaining these relationships and following the these key concepts will help you retarget like a rockstar!