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3 Ways a great Retargeting strategy can increase sales on WooCommerce
Running an e-commerce business becomes more difficult every year. With growing market competition and a fierce race to grab customers’ attention, retaining website visitors and generating sales has become a challenge.
Since the WooCommerce store owners, in most cases, run their businesses almost single-handedly, spending time on intricate marketing strategies is not a part of their schedule. At the same time, potential customers have an increasingly short attention span and are rarely willing to do thorough research on the product they are purchasing.
As philosopher Simone Weil once said, attention is the purest form of generosity. To make users and customers generous, business owners and marketers have to implement complex and multiangled strategies, using all the applicable tools to create a personalized and engaging shopping experience.
When it comes to online stores, the design or user experience can be flawless, but stats remain unwavering: 96-97% of users don’t complete a purchase and leave the website.
This leaves marketers, who are required to craft a more complex and logical journey using advanced digital tools and techniques. One of these proven strategies is retargeting. Retargeting – or remarketing – is a great advertising technique that allows for the promotion of products the user was specifically interested in on multiple platforms: Facebook, Google, YouTube, and others. Let’s explore retargeting more closely and see why it is one of the most effective sales-boosting tactics.
What is retargeting and why is it important?
No matter how popular your company and products are, the majority of visitors to your website will leave without registering, purchasing, phoning, uploading, or connecting in any of the other ways that you would like them to.
Marketers love retargeting and remarketing because they contact consumers who have previously expressed an interest in your items or services. When this happens, adverts are more likely to be clicked, and website visitors skyrocket.
Retargeting allows you to bring back customers for a second, third, or however many times it’s required to convert them. As a result, it helps to bring your brand to the spotlight, making it more recognizable to your target audience.
Your advertising efforts should be tailored to your company’s objectives and the customers you wish to reach. Remarketing initiatives should match your goals, whether they be to boost shop visits, produce more prospects and new registrations, or increase engagement and sales.
When is retargeting effective?
Retargeting is an excellent tool for branding and conversion tracking, but like any optimization technique, it’s most beneficial when used as part of a bigger digital strategy.
Remarketing works best when combined with inbound and outbound sales strategies. Additionally, it requires at least a small formed audience to have someone to retarget. If your platform is entirely new, try to postpone remarketing to make it more useful later.
Inbound strategies such as content marketing, AdWords, and targeted Google, Facebook, or Shopify ad strategies are compelling for attracting visitors, but they don’t help with conversion optimization.
Retargeting, on the other hand, can help enhance conversions but cannot lead users to your site. Using one or more of the above techniques to increase traffic, and then retargeting to get the most out of that traffic, gives you the highest chance of success. One of the particularly effective ways to boost e-commerce sales is dymanic retargeting.
How can a dynamic retargeting strategy boost WooCommerce sales?
You can utilize dynamic retargeting to deliver adverts to a user based on the most recent product they’ve viewed. You may offer a native or display ad containing the same item a user saw on your page, as well as a bespoke message based on that item’s title or body content. This informs customers of the product in which they have expressed interest during their digital shopping.
Because dynamic retargeting advertisements change based on the item seen by the user, the ads will seem somewhat different to creating a unique and personalized experience.
Retargeting allows you to segment your audience depending on their interests and behavior in order to target them appropriately. This lets you produce adverts that are relevant to your target demographic, resulting in increased sales. With a good retargeting tool like Adwisely, an average ROI can reach 600%.
In some cases, successfully executed retargeting campaigns have generated enormous conversions and sky-high ROIs. For example, SinglePrice, a global online clothing & accessories store based in the UK, was able to reach a 1,600 % ROI after launching a retargeting campaign with the purpose of increasing sales.
Additionally, the dynamic retargeting ads are 76% more likely to be engaged with than standard display ads. When used with other marketing campaigns, retargeting can boost sales by 50%.
Reduce cart abandonment
Cart abandonment rates remain high in e-commerce. According to the Fresh Relevance Marketing Report, the average cart abandonment rate in 2021 was almost 60%. For different businesses, the number can jump up to 80%. So, focusing on decreasing this indicator can greatly boost sales.
Cart abandonment occurs when a consumer adds an item to their shopping basket in your online marketplace but departs without completing a purchase. Retargeting can help you re-engage consumers who have quit their carts by reminding them that the product they were interested in is still accessible and easy to buy.
Increase customer lifetime value (CLTV)
The customer lifetime value is a measure that indicates the maximum amount of profit you can generate from a single customer within the longest term of engagement. Naturally, every business struggles to retain loyal customers and prolong relationships with them.
Retargeting is a great way to tailor a personalized buyer’s experience. It does not necessarily mean creeping the user out by following them with the same old item. Dynamic retargeting, combined with smart tools for ad management, can suggest similar products or present new items, making the advertising experience more natural and engaging.
Get started with successful dynamic retargeting campaigns with Adwisely
As we already know, retargeting can be a powerful sales-boosting tool. But where to get started and create effective, engaging ads without spending too much time and money? Adwisely’s on a mission to let you focus on your business, while we manage the rest.
Adwisely is an effective ad management tool for online stores that lets you run a variety of Retargeting ads for your Shopify, WooCommerce, or BigCommerce store on Facebook, Instagram, Google, and YouTube.
To start your own retargeting campaign with Adwisely, go to our website and click Get Started Now.
Drive marketing excellence with ease while focusing on your most important goals. Contact us if you have any questions 💚