Written by: Kendra Cumberland
- Only about 2% of customers/clients purchase or book on the first visit.
- Automated remarketing is simple to maintain.
- It is easier and less expensive to retain current customers than to find new customers.
- If you don’t reach your customers, someone else will.
- Everyone is doing it!
Even if you’ve never heard the term “remarketing” you’ve certainly experienced this advertising strategy. You visit an online website, but don’t sign up for the email list. Two days later you are scrolling on FaceBook or Instagram and see an advertisement for the online course you didn’t sign up to take. You browse an online store, maybe even add items to your cart, but don’t make a purchase. The next day you get an email in your inbox reminding you that you added items to your cart but didn’t make a purchase and maybe even offering you a discount or incentive to checkout.
These are examples of remarketing – a way for online and e-commerce businesses to follow-up with people who have shown interest in their products or services but haven’t purchased yet. These strategies can also be used to promote brand loyalty when a small business directs adds to customers who have purchased in the past to let them know about upcoming specials, sales, events, and launches.
Reason 1: Since data shows that only around 2% of potential customers make a purchase the first time they encounter your brand or site, remarketing can be a powerful tool in helping your customers come to know, like, and trust your brand. The other 98% of potential customers aren’t sold on your product/service yet, and need another chance to get to know you. Putting your brand in front of them again gives them the opportunity to interact a second time and reinforces what they liked about your brand.
Reason 2: Once you set up remarketing, it runs with little maintenance. Within social media advertising channels, there are a number of options for remarketing based on past customer actions. These options can be customized in a number of ways to put the most relevant content in front of each lead. Something as simple as visiting a website can trigger an advertisement in a customer’s social media account. Adding an item to cart but not completing checkout can trigger an email reminding them of the sale price or special you are currently running on your product(s). Customization of remarketing to match your business and your ideal audience is also easy to set up and makes remarketing authentic. As part of a fully developed advertising campaign, remarketing can help your small business reach sales goals and gain new and loyal customers.
Reason 3: The cost of finding and bringing in new customers is greater than the cost of maintaining a loyal customer base. Retaining customers/clients might look differently across businesses types, but e-commerce businesses and local brick and mortar businesses depend on repeat customers. One reason for the added cost is the fact only around 2% of new introductions will make a purchase, so it takes multiple encounters with your brand for those people to move from prospects to customers. Consider the difference between a vague acquaintance vs. a close friend: who would you expect to offer to loan you their car? Marketing works in a similar way to friendships – it is about developing a relationship with your customers so that they are comfortable with you and they trust you. When you build that relationship over time, your customers return to you and think of you first when they have a need.
Reason 4: If your small business sells candles you are in constant competition with other candle sellers online and in your area. Building a relationship with your customers through remarketing is the best way to keep your customer base loyal to you and your products. There are always options for people regarding where to shop, so you want to use remarketing to remind your customers why your product or service is the best fit for them.
Reason 5: While the strength of a business practice is not based on its popularity among other businesses, you can determine best practices in business based on the approaches successful companies use. Big e-commerce stores like Amazon, eBay, Wish, and Walmart all use remarketing to remind people to make a purchase, put recommended products in front of their audience, and follow-up with sales offers. This strategy helps customers get to know the brand better and leads to purchases, repeat purchases, and sustained loyalty. Maintaining customer loyalty with reminders, sales, and special offers through remarketing will help your business maintain sales, even as you work on additional ways to grow your new customer base.
There are many ways to establish remarketing procedures for small businesses, and each small business will have different needs. If you’re interested in learning more about remarketing through social media and email advertising, feel free to set up an informational call with me so I can learn more about your business and make individualized recommendations. You can reach me via email at email@example.com or you can book an appointment via my website at www.visualoom.com.
About the author:
I started VisuaLoom to help small businesses connect with their ideal customers and clients through social media advertising and to help them build sustainable growth. Coming from a family of small business owners, I recognize the importance of small businesses in local communities and I love to help support those small businesses. With more than 14 years experience in the field of education I have a passion for training and educating others, and a lifelong love of learning.
You can reach me at firstname.lastname@example.org or 336-517-7083.