Retargeting is one of the most important tools in the online marketer’s toolkit. The attention-grabbing stat doing the rounds online says that only 2% of online shoppers convert on their first visit to an online store. Retargeting software can help you to win back the other 98.
Here’s how it works: a user visits your site and leaves without making a sale, but we follow them on their journey. Along the way we place ads on other sites which encourage them to come back and buy. This leads to increased revenue, and better brand awareness. As if that wasn’t enough, this software is improving all the time and dynamic retargeting even allows us to pull images of the products they viewed into our ads; making them virtually impossible to ignore.
But in order to understand the true value of retargeting, we have to appreciate the difference between click through and view through conversions. A banner ad might not be clicked on, but it could influence a sale.
What Are View Through Conversions?
A view through conversion is one where the system records that a user has seen a display ad and did not click on it but did make an enquiry or sale soon after, as a result.
It is a way of measuring the influence of display advertising outside of a tangible click. If a user was to see a promotional video on YouTube and then type the company’s URL into their browser and engage with the site, this would be a view through conversion.
View through conversions are essential to monitoring the success of a retargeting campaign, as we discovered recently, when analysing a campaign we are running for a respected high fashion brand.
The sample data we studied reported no click through conversions, zero, zilch... nada. But while the reactionary marketing boss might have thrown the campaign out of the window, cooler heads did prevail. A study of view through conversions showed that the retargeting campaign had been successful.
A notable number of view-through conversions were recorded and while the sceptical might argue that this was just a coincidence, it is hard to argue with the facts. Of the total number of conversions, 20% came through within an hour of the ad being seen and more than half came through that same day. It’s compelling evidence for usefulness of these ads; and it’s part of the reason that we recommend retargeting to all B2B or B2C clients, whether they’re looking to boost sales or generate more enquiries.
Stuart Brandwood, the Hit Search executive who carried out the research, said: "When you first encounter the concept of view through conversions it's easy to be cautious. We are used to the very linear & measurable concept of 'See Ad, Click Ad, Buy'. When we drilled down to examine the timings of the individual view through conversions we were amazed at how tangible the link between the ad being displayed and the sale really was.
"Knowing that a full 50% of the VTC sales are people making their way to the site and converting within 24 hours of seeing the ad is a huge proof-of-concept."
Of course, conversions are one thing but retargeting is valuable for impressions alone. For decades PR and brand building has been a largely immeasurable concept. But the banner ad impressions of a retargeting campaign are a PR tactic that can be tracked and definitively quantified.
Is remarketing a part of your company’s online marketing plan? If the answer is no, you could be missing out on that 98%, not to mention a major boost for your brand online.
For more information, why not give us a call today on 0845 643 9289 and talk to a member of the team.