Retargeting Explained

There’s a ton of technology out there focused on marketing to people who have already been in contact with your brand online. And if we’re being honest, the sheer amount of technology we have access to can be overwhelming at times. But we’re here to help. Do the terms remarketing or retargeting sound familiar? These strategies are becoming increasingly popular ways for brands to connect with consumers. So let's break down the difference between the two strategies, review exactly what retargeting is, and talk about how it’s being used to reach customers.

So, what is the difference between retargeting and remarketing?

Glad you asked. A lot of people get confused about retargeting and remarketing because the terms are often used interchangeably, but they are different. The biggest difference between retargeting and remarketing is the strategy that's used to reach potential customers who have left your website. Retargeting works to engage consumers who have left your website without making a purchase or completing a desired action, and typically relies on cookies to drop ads. Remarketing, on the other hand, usually relies on email - but can also encompass any marketing to a consumer known to your business. It’s a great option rather than blind advertising because the consumer has already shown some kind of interest in your dealership, heightening your chance of a conversion.

But, let’s dive into retargeting..

As we mentioned, retargeting is a form of online targeted advertising where the goal is to reach the large percent of people who might have interacted with your website but left without completing the desired call to action (making a purchase, completing a form, submitting a lead, etc.). According to Outbrain, the average conversion rate for first-time site visitors is just 2%, so retargeting was designed to help reach the other 98% by following website visitors through either online or placement ads after they have left your website. Have you ever visited a website and clicked on a product without purchasing? We all have. Have you seen that same product in ad space on a different website? That’s retargeting, and it’s all possible thanks to cookies - which is a small piece of data sent from a website that’s stored in the browser of the user which allows tracking of the websites they visit.

Check out the image below to see the flow of retargeting:

Image: Retargeter.com

Has retargeting seen positive results?

Retargeting has been a huge success for many businesses and is becoming an increasingly popular marketing strategy. In fact, according to a survey by Invespcro, retargeting customers are three times more likely to click on your ad than people who haven’t interacted with your business before. In the same survey, 26% of customers said they will return to a site through retargeting and these numbers are expected to grow as 50% of marketers say their retargeting budget will increase in the next six months.

Are you interesting in retargeting?

If so, you’re in luck. We’ve just released brand new retargeting offerings for our dealers, and many have already seen huge success. We are offering the following retargeting product offerings:

• Display Retargeting 
• Dynamic Retargeting - Unit Ad Listing 
• Dynamic Retargeting - Social Unit Ad Listing (Facebook & Instagram specific) 

If you haven’t talked to your Cycle Trader representative about integrating retargeting into your package, what are you waiting for? The best part of our retargeting product is that we do all the work for you. Call your Cycle Trader representative today at 888.747.1192 - they’d love to walk you through our various retargeting products to find which will best fit your needs.