Why use retargeting?
- Only 2% of website visitors convert on their first visit.
- People who see retargeting ads are 70% more likely to be secretive.
Yes, retargeting works. Retargeting offers an opportunity to connect with customers, engage with potential customers who have already shown interest in your brand, product or service, generate more revenue, improve conversion rates, and more. transform and maximize the ROI of your digital marketing program.
How can marketers use retargeting holistically to amplify their entire marketing strategy?
To help answer this question, Ascend2 and SharpSpring Advertising (formerly Perfect Audience) field The 2021 Outlook for Retargeting Surveys in April 2021. All 176 marketing professionals surveyed have retargeting budget in excess of $2,000 per month. Here is the link to report . The report provides analytics for B2B marketers, B2C marketers, corporate companies, SMB companies, executive level perspectives, etc.
Here are some surprising statistics from retargeting research:
- B2C Marketer's Top Two Retargeting Challenges to be ad fraud (43%) and attribution (37%) .
- The Top Two Retargeting Challenges of B2B Marketers to be resources (38%) and brand image (36%) .
- Top Reviewed Executives when evaluating a new retargeting solution is customer service (54%) .
- 83% of marketers rate their retargeting technology quarterly or monthly .
- Only 27% of marketers are extremely satisfied with ability to determine ROI
- their of their retargeting program.
- 77% marketers Concerned about advertising fraud .
- 88% of marketers are use AI to optimize their retargeting programs or are planning for next year .
- 88% of marketers say there is a one attribution view very important.
Here's a deeper dive into the research:
1. The most successful retargeting experts evaluate their technology more often.
Finding the right technology is critical to success. 83% of marketers rate their retargeting technology quarterly or monthly.
Why obsess over evaluating retargeting technology?
One insight is that most marketers, 77 % to be exact, use retargeting as part of their Facebook and Instagram advertising strategies.
Another 69% use retargeting as part of their Google advertising strategy.
As marketers start retargeting, it's a good idea to use the retargeting functions in the Facebook and Google platforms. But as your program grows, it becomes difficult to have a single view of the allocation when using multiple platforms. Testing retargeting platforms is a logical step towards getting a single view of attribution. Plus, changing retargeting platforms doesn't have to be a complicated process, like changing your marketing automation platform or email service provider.
An 83% majority of marketers are evaluating the performance of their retargeting technology at least quarterly, with more than half of them (43% overall) reporting the activity at least. monthly at most.
Bottom line: Don't be afraid to experiment and switch your retargeting platform. A small performance improvement can dramatically improve your ROI.
2. Only 27% of marketers remain extremely satisfied with their retargeting program's ability to determine ROI.
The problem of measurement and allocation. It's time to enhance your ROI determination. It starts when you can see the ROI of each ad, so you know which ads should stop running, which should continue, and which should give another shot.
Having an overall view allows you to see ROI from one dashboard, make better decisions and make decisions quickly. 2020 has taught everyone to need speed!
Only 27% of marketers remain extremely satisfied with their retargeting program's ability to determine ROI.
3. Attribution of a view is important to 88% of marketers.
Coming in at #1, 88% of marketers say it's important to have a single view of attribution. “A person who has a watch always knows what time it is. A person with two watches can never be sure.” This quote speaks to the frustration the market has with allocation.
How can Facebook, Google and others claim credit for a conversion? Marketers want and need a single view of attribution to make better decisions.
An attribution view is a top priority for marketers using retargeting.
Coming in at #2, 77% of marketers are concerned about ad fraud.
How do you minimize ad fraud?
Your retargeting platform must continuously monitor ads for fraud. Ask your carrier what they do regularly to identify fraud and remove the source before you pay.
4 . 88% of marketers are using or are planning to use AI for optimization
The age of AI has come. 88% of marketers are using AI to optimize their retargeting programs or are planning for the next year. AI is no longer a tool reserved for enterprise companies; it is now integrated into your retargeting platform. Ask your carrier about how to use AI to optimize your retargeting program.
- Can you use AI to optimize for a specific KPI?
- Can you use AI to optimize your ads and conversion funnels?
The most successful retargeters are more likely to be using AI.
5. Retargeting solutions need better customer support.
47% of marketers point to “improving customer service” as a feature their retargeting platform should improve on.
What is the most helpful type of customer service support?
- Email: 57%
- Live chat: 51%
- Call: 48%
Inference
The retargeting outlook is bullish. AI is making a difference, technology can be reviewed regularly to improve performance, an attribution view can be implemented, high quality customer service is to be expected, and the ability to identify Target ROI. Download 2021 Outlook for retargeting for research-based strategies, tactics, and trends to retarget next year.
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