Retargeting became quite the buzzword in 2014. Marketing Land recently reported on an AdRoll survey that found that the percentage of marketers who spent over 50 percent of their digital advertising budget on retargeting doubled from 7 percent in 2013 to 14 percent in 2014. While 2014 saw interest in this marketing method ramp up, 2015 should see an even bigger surge as this marketing tool grows even more among businesses of all sizes. Though marketers may be hesitant to jump on this bandwagon, this is one trend that should not be missed.
Social Retargeting Boosts Impressions and Clicks by Huge Margins
Though there are plenty of different types of retargeting, social retargeting has been the most heartily embraced by marketers, with 54 percent of those surveyed saying that social retargeting was a better use of resources than mobile, search or even email retargeting. VentureBeat notes that AdRoll data backs this assertion up, showing that social retargeting drives nearly triple the impressions and clicks than other forms of retargeting. In addition, social retargeting also leads to more than double the conversions, making it not only a great tool for exposure, but a must for improving sales as well.
Mobile Retargeting Offers Room for Growth
Though social retargeting is leading the way, mobile is poised to make a big impact in 2015. According to Marketing Land, although more than half of respondents said that social is the hottest area of retargeting, over 50 percent of advertisers are currently retargeting on mobile devices. Mobile retargeting presents a unique opportunity for marketers looking to capitalize on an increasingly mobile consumer base. Interestingly, the majority of marketers who responded to AdRoll's survey who did not use mobile retargeting said it was because they didn't have an app — which fortunately isn't actually required for a mobile retargeting campaign.
However, not having a mobile retargeting strategy in place can be quite damaging, especially, as Adweek notes, consumers are looking for a seamless multiscreen experience across all screens. Introducing (or ramping up) retargeting efforts on mobile can help marketers take better advantage of this trend and reach both mobile and multiscreen consumers.
Making Your Marketing More Efficient
In addition to instant returns on investment as a result of increased impressions, clicks and conversions, retargeting can also boost other components of your marketing strategy. Display ads, paid search and even other forms of Internet advertising can all benefit from the increased visibility and awareness that retargeting brings. LinkedIn account Executive Daniel Clay recently published a blog post comparing retargeting to bait on a fishing lure, helping consumers find their way to businesses and helping create brand recognition with the overall goal of increasing the efficiency of other facets of your campaign. In this way, retargeting can become a campaign cornerstone upon which marketers can grow their efforts.
Though marketers have certainly seen their fair share of trends come and go in the marketing world, retargeting looks like one trend that is only going to get bigger in 2015.