If you own a business, you must be aware of the importance of advertising. It is important to promote our products through different channels to get more eyeballs on the product. But it is also important to understand the customer purchase lifecycle before you sell anything. There is a particular purchasing cycle through which the customer goes before he buys any product. For example some known facts about a customer:
(1) Customers rarely buy on their first point of contact to a product.
(2) It typically takes a person 7 times (this could be website visits, email newsletter, etc.) before they make a purchase online.
(3) Customers do not buy from people they don’t trust.
(4) Customers are exchanging “money” for something that will improve upon their existing situation.
(5) Customers have more access to product information and reviews than they ever have.
(6) Most customers can see through scammy promotions, in fact, are turned off.
Now I am sure this is very important information, and I am sure you will like to know more about the Customer Purchase Life Cycle. I will link this below and you will get free access to the full training.
What Is Retargeting Advertising?
By now we understand that customers never buy a product at first instance and it may take 7 times to make a purchase.
But the study also shows that 97% of the people who visit your site for the first time leave without buying anything, or they leave without doing a conversion in most cases. why this happens, there are so many reasons.
For the majority of people who come and visit with the intention of buying something, 97% of those people don’t end up buying something right away.
Because they might be, there could be a number of reasons they could be at the beginning of the sales cycle, they could be just not ready to commit, maybe your sales page isn’t transparent enough in terms of the cost. So how to get these people back to your site?
Retargeting advertising comes into the picture in this situation and it can really help you if you want to.
If you have an e-commerce site and someone lands on your site, it clearly shows that they land with commercial intent, to buy something from your site. It’s where you have the ability to essentially get someone who visits on your site, pop a little tracking cookie on your on their browser, and then follow up with.
In a nutshell, it’s about bringing people back to your website that has once visited your site.
How Retargeting Ads Work
How do retargeting ads work? All right. So let’s look at it from this perspective, So someone visits your website, right?
We got that down, someone comes and checks out your site, they think it’s absolutely awesome.
Now you may have your own product or your own service to offer and you have an opt-in landing page to get a lead.
So now either you want that the visitor buys the product or service from you or at least should opt-in for your email list.
Here is how retargeting ads work, what happens is when they land on your site, a little script lands in their browser.
And what happens is that tells the browser that, hey, this browser visited this website, and trigger ads tomorrow, that’s basically all that little script does, it’s called a cookie.
So that cookie lands in the person’s browser and then they leave your website, they do not buy a product, they do not click an affiliate offer, as far as you know, and they do not land on your, or they do not fill in the email for your OPT on the landing page.
But since the cookie is installed on their browser later, they start to see ads for your offer, whether product affiliate offer, opt-in landing page, whatever it is that you’re trying to get people to convert. Right, that’s the goal here.
How Much Does it Cost to Run Retargeting Ads?
It really depends on many variables and it all depends on which platform you choose to run retargeting ads.
few Variables for example, what platform Are you going to run your retargeting ad on because some platforms have different costs.
Are you going to use Google?
Are you going to use Bing?
Are you going to use Facebook or face gram? Facebook and Instagram are one of the same. Facebook owns Instagram.
You got to take these three things or four platforms into consideration, probably the most affordable, the least cost amongst all four of those would be Facebook.
one that might be the most expensive would be Google. But that’s just because it’s Google because you’re reaching a very vast audience.
2. How aggressive do you want to be with your ads? Okay, what that means is, how often do you want to show your ads?
3. How long do you want the campaign to last? How long are you willing to show ads until the person converts?
So for example, if you want to have a 10-day campaign, where ads keep showing to that person for 10 days or do you want to keep it short? All of these things affect the cost.
It’s not a hard fixed cost. And, of course, Google, Facebook, Instagram, and all of these platforms don’t say, well, it’s going to cost you this much.
Building a Return Visitor Strategy with Retargeting Ads
Before building a return visitor strategy with retargeting ads you should answer some of the questions like:
- what page on your site makes you the most amount of money?
- How much does it make when someone converts?
- How much of that profit Are you willing to use for the conversion?
So once you have answers to these questions you can easily create Facebook, Bing, or Google ads. and if you want to watch how to create a live Google Ad, Watch this replay.
Live WAbinars
This article is a short summary of the full 60+ minute Live WAbinar held at Wealthy Affiliate every Friday at 5 PT.
Watch Live Wabinar Introducing Retargeting Ads
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Pl, let me know your thoughts, suggestions, or questions in the comments below. I will be more than happy to answer all your queries.
Additional Resources:
The Customer Purchase Lifecycle: Full Training