I’m sure by now you’ve heard all about Target Marketing, or Targeting, and retargeting, right? Well if not, you’re reading the right article. If you DO happen to understand what these marketing tactics are then great! Maybe you can comment on any specifics I may have missed in the article.
Throughout this blog article we will go through the following key points:
- Understanding what Target Marketing means
- Understanding what Retargeting means
- Why you need to be targeting and retargeting your website visitors
- How you can apply these marketing actions to your strategy
What exactly is Target Marketing and is it really important?
Let’s start with the first question; what is Target Marketing? Target Marketing is the process of breaking down your target audience into sections. Concentrating on these individual marketing groups allows you to focus on marketing a very specific set of products or services to individuals who will be more probable to click or interact with your offer.
If you have worked in or around the corporate space then you may have heard of the term “focus groups” which is basically the same concept. Placing your offer directly in the face of those directly in search of your end product.
So how important is Target Marketing? Well that’s simple. Target Marketing isn’t important to everyone. Just those who are honestly trying to increase their sales and business growth (I really hope you fall into this bucket).
What exactly is Retargeting and is it worth the extra effort?
Now that we have a better understanding of what Target Marketing is let’s get into Retargeting, or Retargeting Marketing. Much like targeting, retargeting also focuses on a specific group of users or individual profile demographics. The main difference is that when you retarget your user(s) you have already initially targeted.
I assume, or at least hope, you are already monitoring your websites traffic bounce rate (if not, please contact us immediately). It’s okay, we all have bounce rates. That being said, even the best marketing platforms understand that converting roughly 2% of your traffic on the first visit would be a pretty decent conversion rate. So what about the other 98%? I’m sure it’s all starting to come together now, right?
Now we have the 2% percent converted and the remaining 98% of users who not only wandered off like confused cats [it also doesn’t help that there is an increasing number of people diagnosed with ADDHD, click here for the US CDC report], we need to grab the users attention again. This can be executed aggressively or conservatively and is primarily based on how time-sensitive your offer is.
Why you need to start focusing on your targeting and retargeting skills
Targeting your audience is most important when you are planning to, or already have, published an advertisement. Ad placement in itself requires serious thought and insights data.
Retargeting will definitely increase your conversion rates and ultimately, your ROI. Even if you doubled your initial 2% conversion then you have already improved your return on investment. This is also powered by your brand establishing a more trustworthy relationship with your retargeted user and we all know, brand reputation is key.
If you are like most business owners then we can both agree that building the integrity of your brand offers us the stamina and endurance required to maintain a successful journey.
How you can apply targeting and retargeting to your marketing strategy
Marketing your brand requires strategic planning regardless of the size and scale of your budget. Targeting is pretty straight forward and I will be writing a more direct article soon based on the basics and fundamentals of creating an effective targeting strategy for your next ad campaign. With my initial intent to help you understand retargeting, we’ll focus on the basics of getting started.
This code utilizes the implementation of ‘Cookies’ which I am also sure you have seen more notices about when visiting your favorite websites. A cookie is dropped into the application the user is visiting which then engages the tracking process. This cookie is then used to trigger ad placements and other marketing types when the tracked user visits any place on the web that indicates your offer may be relevant. The middle-man is the retargeting tool.
Developing and implementing the tracking code can be achieved through various tools include free and premium resources. Having a developer handle this part of the process is also a great start. However, with retargeting acting as your biggest ally when it comes to creating a cohesive brand marketing powerhouse strategy, having a group of talented experienced individuals will offer your strategy its greatest results.
Contact us today to learn more about the targeting and retargeting tools and resources that fit your goals and budget. IKR Media will help you find the right solution based on your needs and offer. Your initial consultation is free and nothing bad ever results from a friendly conversation.
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