Remarketing vs. Retargeting: What You Need To Know
Sometimes business owners often get confused between remarketing and re-targeting while designing their marketing strategies. We implement these strategies to bring the existing consumers and the interested customers towards the services and products of our company. Here you may compare remarketing vs retargeting, but you should know that both are useful as a reengaging prospect. Both the individual strategy plays a significant role for the people who have just taken an interest in your brand and services.
But before we move on to the similarities and difference between remarketing and re-targeting, you should have a simple idea about both of them. Let us now focus on the key factors of remarketing and re-targeting.
What is Remarketing?
We use the term remarketing for several tactics to engage a particular customer after an initial interaction with a service or product. We can consider remarketing as an important element of integrating any marketing strategy. It is because remarketing can leverage ample touch points to approach targeted audiences. You can also say that remarketing is a reliable support for a brand’s primary sales objectives. It is done by recapturing potential and valuable leads. If you do not have a remarketing plan for your business, then your quality leads are likely to get slipped from your hand.
Remarketing strategy is not new today and with its demand in the modern business strategies, its area is becoming more and more sophisticated. Dynamic remarketing focuses on leveraging first party data to show site ads of site visitors about a particular service or product, which you have viewed previously. Thus, a personalized ad experience is created by this responsive strategy.
Example Of Dynamic Remarketing
Let’s take an example of a visitor who visits an ecommerce site often and then leaves the site, making no further action. Here the dynamic remarketing plays a significant role as it can use a third-party as network to showcase the ads for that particular product on other websites which that user has viewed. As a result, the product stays at the top of mind through this strategy and helps you to keep the customer interested into your business once again.
What is Retargeting?
The term Retargeting is often used to show ad placements in online sites and displaying them and finally serve them because of a users’ activity in a specific site. When a user visits your site, cookies’ are set. So, now with the help of those cookies you can target ads to your potential customers on any other site that they visit. Therefore, the term Retargeting takes shape. One of the primary factors which make Re-targeting strategy much appealing is that it is done via third-party source and networks. Networks like Google and AdBrite give you an opportunity to target and reach out to the potential customers whenever they are visiting any one site out of millions.
In the re-targeting zone, if you are a marketer then you can select from a wide range of targeting strategies and channels or network chain. Only 2% of website visitors gets converted during their first visit to a website as per the recent study by Retargeter. Re-targeting solution allows the advertisers to attract audiences back to their website with the aim of converting them to the website. Kimberly-Clark, a renowned consumer goods company, had seen a 50-60% of conversion rate from its website – from those who were re-targeted.
Do You Know Why Remarketing Is A Brilliant Strategy?
There are several reasons which makes remarketing a great strategy plan, for example:
- Budget-friendly branding
- Excellent ROI results
- Eliminates cost per impression
- Clear and smooth targeting
- Improved conversion rates
These are the reason why remarketing is taking the online world by storm
Also, Read: Google’s Core Web Vitals – A New Ranking Signal
Similarities between Retargeting and Remarketing
Though re-targeting and remarketing have unique perspective and have unique strategies individually, but both are lead nurturing tactics. It means they are both helpful if you want to support an entire customer life cycle marketing plan. Both of them have one primary aim, which is to keep your brand always in front of your targeted audiences and drive customer leads into your sales and purchase funnel. Here are some similarities between re-targeting and remarketing:
- Both of them work to engage the qualified audiences who seem to take an interest in your products and are likely to purchase them.
- They both target only those audiences who are already well-familiar with your brand.
- They create recognition and long-terms lasting brand awareness.
Difference between Remarketing and Retargeting
in order to achieve higher goals, the difference between re-targeting vs remarketing are used in the following tactics:
- You can see that re-targeting basically uses paid ads in order to re-engage your targeted audiences who have visited your social media profiles and website.
- Whereas for remarketing, it uses email primarily in order to re-engage your past customers, those who know your brand very well because they have done business with you previously.
Remarketing is a very effective way to drive conversions of your potential audiences’ just like re targeting. According to a report by e-Marketer, 81% of customers make additional purchase, which results from targeted emails. Also, a report by Campaign Monitor had found that a segmented email campaign has the potential to drive around a 760% increase in your annual revenue.
A recent article shared by MarketLand had explained that ‘’it is not so common to see an outstanding CTRs with re-targeting, anywhere from 0.30-0.95%- which is 3-10 times higher than the industry average’’. Therefore, as a marketer, if you are starting with re-targeting, then you should at least be aware of some similar pitfalls. A recent survey by InSkin Media says that around 1600 adults in UK represented equally by their gender, age, religion and social class regarding their feelings about the display of re-targeting plans.
When to Try Remarketing and Retargeting
It is very clear that if you do not understand the concept of remarketing and re-targeting, then you can never understand their correct utilization and also when to use them. Moreover, it completely depends upon types of marketing segmentations that you will use to fulfill your goals.
You must go for re-targeting if:
- You are more into attracting new customers to your website
- You do not have email list of the prospects and audiences who are interested in your brand
- You may be driving enough site traffic but unable to trigger the primary conversions
You must try remarketing if:
- You are more into re-engaging with your existing and past customers
- You already have a good email list of both of your past and present customers
- You have no particular budgets for ads
So here we can say that we need not choose when it comes to remarketing vs re targeting. Instead, you can use both of them at the same time to attract more than enough interested prospects and increase the results of your sales funnel.
Re-Targeting And Remarketing Is An Engagement Support For Content Marketing- How?
One primary reason why remarketing techniques and strategies is a well-fit for content marketing is that they all contribute to the journey of a user through the sales funnel. Content attracts the readers via organic channels and dynamic remarketing tactics helps to cover the users who take up interest in a particular offering. With a combination of both the strategies, they promote brand awareness, acts as a support for sales efforts and bring value to the consumers.
Moreover, remarketing can be considered as a support for integrated communications. It means all the idea of messaging from a particular brand should focus on a path of cohesiveness and consistency. If your brand can describe and show the continuity of messaging no matter wherever they are present in the online platform, will be more appealing to the consumer. For an example, if a user is reading a blog post on a specific brand’s site and later, he or she views an ad for the same brand while reading a new content from any third-party source, then the remarketing tools will make sure that the experience is consistence.
Is It True That Remarketing Drives A Greater Number Of Conversions?
According to a report conducted at MIT, it sufficiently shows that lower engagement rate – for the fact of outreach, sets in over one hour after your visitor has left your site. The data highlights the facts that your chances of re-engaging a lead are likely to fail by over 10 times, if you are following that one hour of first interaction with your potential customers.
Still Not Clear Which One To Go With- Remarketing Or Retargeting?
The overlap differences between remarketing and retargeting have become blurry in terms of comparing both the strategies. However, the fact is true for the digital marketing and the marketers. As already mentioned above, both of them share one common goal, which is to increase conversions to those interested prospects that are most likely to take an interest and buy products from your brand. Therefore, the merging of both re-targeting and remarketing is an indication of what we are watching in digital marketing today.