Don’t miss any opportunities
Nearly every single person who visits a website for the first time will not buy anything. More specifically, 96 % of first-time visitors will leave without converting. Moreover, 1 in 2 visitors will visit up to four sites before deciding which product to purchase. Finally, 70 % of users who reach the shopping cart will abandon the buying process at some point.
What does this all mean? It means that buyers are not buying on the first visit, and therefore as a company that seeks to convert visitors it’s important to develop a strategy where you can reach the user after they have left your site.
In other words, companies need to remain visible to users even when they are no longer browsing their products and services. That’s where remarketing comes into play.
As the name suggests, remarketing is a subsequent effort to promote products and services towards a client who has left a company’s website.
The 2nd chance to convert
Its inner workings are fairly simple. A cookie placed on a website tracks each visitor. If these visitors leave a product or service website without converting, they can be added to a remarketing list. Thus, users will see targeted advertisements as they continue to browse the web and use various search engines.
To be more specific, imagine a dealership selling a vehicle called Car A. A visitor spends some time on the Car A page but ultimately doesn’t convert and leaves the website. A conversion in this case could be booking an appointment for a test drive.
If the dealership has a remarketing strategy in place, the visitor will be added to its list and unique, highly-targeted ads will be presented to the user as they continue to search and browse on other websites and search engines.
Here is an example of a remarketing advertisement:
A great engagement tool
As we see, the dealership is in essence sweetening the deal, or making sure their current customers remain loyal. The idea is to keep the company and its products and services in front of the consumer, even after they are no longer on our site.
Because there is familiarity, and the user in question has already visited the website, there is a greater chance of conversion by continuing to maintain a digital presence in other areas of the web.
Based on data from three major dealerships within Solutions Medias 360, remarketing represents up to 20 % of all online sales and can account for nearly 7 % of global automotive sales for each dealership. The number is quite significant, just like the advantages of implementing remarketing techniques into your overall digital advertisement strategy.
Talk to one of our remarketing experts today to learn more about this highly-effective solution.