Chasing cold prospects can feel an awful lot like chasing tail, and finding qualified new prospects can be a lot of work, too. That’s why we encourage our clients to focus on the prospects right under their noses.
Your current list is already familiar with your business, whether they’re existing or former clients or customers who got cold feet during the buying process. Retargeting this group of people can reap a much better return on investment than a campaign that goes after all-new prospects does.
Why Retargeting Works
Retargeting customers often has a higher conversion rate than marketing to a cold list. Retargeted customers have already shown an interest in your product or service, which moves them farther down the sales funnel. This is true for past clients and customers who abandoned a shopping cart or visited your contact page without filling it out. It also gives you the opportunity to cross-sell products to your current clients.
How Retargeting Works
When a prospect or customer visits your website, Google AdWords anonymously tags them (the same process occurs on Facebook, too). You can use this data to place ads on websites, search, and social platforms that are hyper-focused on their interests. Because the audiences for these ads are limited to those who have been tagged, your costs are lower, while engagement and conversion goes up.
Where Retargeting Is Most Effective
Currently, Facebook ads and Google AdWords are the most effective tools for retargeting customers. Both allow you to drill down to a very specific audience for your ads, lowering your investment and increasing engagement. Both Facebook and Google AdWords allow you to use your data to create a new audience of similar prospects.
Sound Like a Lot of Work? Get Figgy with It!
It’s true that finding and interpreting your retargeting data and creating ads that cater to your retargeted list is hard work. That’s why Wild Fig Marketing recommends you automate the process. Schedule your free consultation with us to uncover the automation tools that will help you make the most of your current list. Schedule your free 15-minute marketing consultation today to get started!