8 Remarketing Stats That Will Make You Look Twice
Remarketing has been likened to a magic wand you wave over your digital campaigns. It's certainly a big topic in e-commerce with a lot of options for re-engaging potential customers. You can remarket to people who have visited your website, people who have signed up for your email, or who have watched a video about your product (the list goes on).
There are a lot of ways to use remarketing, but the principle for success is the same: You get a second (third, fourth) chance to make the sale. Is it the magic you've been looking for? These data points will make you a believer.
1) 161% Conversion Rate Rise From Google Remarketing Campaigns
Conversion rates can take a dramatic turn for the better once you get remarketing involved in your AdWords e-commerce campaigns. Take leading online tire retailer Tirendo. Using an AdWords remarketing campaign, the company was able to rock their conversation rate by a mind-blowing 161 percent, (when compared to results from the typical SEM campaigns they've run). At the same time, they were also able to reduce costs, not just raise profits. Their costs per order dropped by an impressive 43 percent to increase profitability even more.
2) First Time Isn't the Charm for 97% of E-Commerce Visitors
A measly 3 percent of first-time visitors are likely to buy from an e-commerce website on the first go. That means losing 97 percent unless you find a way to bring them back to the fold. Retargeting ads have been proven to increase conversions, Their effectiveness has actually been shown to increase with more ad impressions. One of the interesting things here is that retargeting shows much lower rates of ad fatigue than comparable display ads.
3) Retargeting on Google Display Network Reaches More than 90% of All Internet Users. Everywhere.
The Google Display Network (GDN) has a reach of over two million websites and apps! Using GDN for retargeting gives you incredible reach to find people when they're most likely to buy, whether they're visiting a website or using a mobile app. How does Google compare with Facebook's reach? Facebook just hit 2.2 billion monthly active users.
4) 47% Say Privacy Is Worth Ditching for a Better Deal
Many Americans believe privacy is worth sacrificing to get a better deal on something they want to buy, according to a study from the Pew Research Center. Their study on privacy and information sharing showed that most American consumers determine their sense of privacy on a case by case basis, even as ad blocking grows. Case in point, 47 percent said they're comfortable being tracked by online retailers in order to get better deals on things they want to buy. Considering remarketing involves a mild form of internet stalking your customers (see point #5, below), this bodes well for online retailers.
5) Only 11% Report Negative Feelings About Remarketing
When does remarketing become stalker-ish? It's a question every good marketer has asked themselves. In one study, only 11 percent of people said that they have negative feelings about seeing retargeted ads, and a full 30 percent reported having "very positive" reactions to being remarketed to.
6) Retargeting Is Still the Go-To for E-Commerce
What do marketers use retargeting for? A recent study of retargeting shows retail still reigns supreme when it comes to industries who use retargeted ads, with 27 percent of online retailers using it. Compared to other industries like tech (10 percent), finance (8 percent), and travel (4 percent).
7) Conversions Rule Mobile Retargeting KPIs
When it comes to mobile retargeting, marketers identified one KPI (key performance indicator) above all others. When surveyed, 51 percent said an increase in mobile conversions is their most important KPI, followed by app install increase (35 percent), overall reach increase (33 percent), and extending social strategy to mobile users (25 percent).
8) What Stops Marketers From Retargeting on Mobile?
Turns out, there are a lot of reasons marketers don't want to retarget on mobile, such as not having an app (34 percent) and not having a mobile site (27 percent). There's also less basic reasons such as not liking mobile ad UX (24 percent), unreliable mobile analytics (17 percent), and not believing their customers are mobile (13 percent).