There are many names for multichannel remarketing. We also often encounter the terms behavioral retargeting or remarketing. Many Internet users are likely to confront this phenomenon on a daily basis without knowing it. But what exactly is remarketing and how does this concept work? For whom does it make sense and how can the principle be implemented most efficiently? These questions will be examined in more detail below and, of course, answered.
98 percent of visitors leave a shop without buying anything
The Internet is the world’s largest shopping platform and houses a variety of online shops and just as much advertising for these shops. The offer is rich and therefore the decision after the stationary purchase or the purchase on the Internet is often taken away from us. For convenient online shopping, we visit many sites where you can find the desired product. But 98 percent of visitors leave the shop without buying anything. Accordingly, only 2 percent of visitors use the offer and shop in the visited shop.
This number can of course be increased, because 98 percent of the users who leave the shop are potential customers who have already expressed their interest indirectly by visiting the respective shop. A remarketing campaign is the revenue-generating key to success. With this principle, shop operators have the opportunity to bring their customers back in real time.
Banner Marketplace
Of course, the concept is not visible to the user. Once the potential buyer has left the website without buying anything, a banner campaign is launched in parallel on countless networks, such as Improve Digital, Admeld, MSN or Google Display Network. The moment free banner spaces are available within these networks, the corresponding banner impressions are offered.
This process is done using “Online Exchanger”, such as AppNexus. These exchangers can be roughly compared to a marketplace. Advertising spaces are now traded on this marketplace. If the user who has left the website without a purchase is within these networks, the provider has the option to offer on these free banner spaces. This so-called Real Time Bidding (RTB) ensures that the visitor gets to see his prestigious product on one of these free standing banner surfaces in order to decide once again to buy the respective product.
Second chance through remarketing
The importance of this strategy is easy to define. With remarketing, the provider gives his shop a second chance. This is the primary reason for using remarketing. If the interested party has left the website without purchasing a product or using the service offered, the latter will be informed of the reputable product a second time in order to opt for it.
However, there are other reasons for using remarketing. The use of the banner areas costs, that much is clear. But remarketing is only confronted by former visitors to the website. In this way, no advertising costs are wasted on non-interested viewers. In addition, the banner spaces can be purchased with the help of the online exchangers at low rates.
State-of-the-art algorithms, ensure personalized display in remarketing
If you are wondering at this point whether remarketing is the right one for your own online shop, you should have a look at the fact that interested customers will see a personalized banner after leaving the website. This has the advantage that a reputable product from an overview of similar articles is presented separately.
For example, when it comes to shoes, the articles are often presented in countless selections on several pages. Scrolling and scrolling is accordingly an elaborate process, which is part of online shopping. If the visitor leaves the shop without buying the prestigious pair of shoes and is still in the corresponding networks afterwards, the psychological aspect also plays a role.
The purchased banner now shows the reputable product on a completely different website, which is associated by the customer with further events and experiences. The just-viewed pair of shoes looks more interesting on the other website as a single image. The overview is given and state-of-the-art algorithms ensure the personalized display in remarketing in order to arouse the buying interest a second time.
These fully automated algorithms, for example, ensure that the presentation of certain items is tailored to the potential customer. For example, the user will only be shown women’s shoes if women’s shoes have already been viewed in the respective shop. The display of men’s shoes is no longer required and sold-out shoes are alternatively replaced by available similar items. This results in a variety of benefits, both for the provider and the user. The low-cost online exchangers ensure a low investment in merketing potential and enable a personalized one, which results in more clicks and also an increased conversation rate.
Real Time Bidding
The so-called Real Time Bidding makes the most important difference. If the customers are confronted with the purchased advertising banners immediately after leaving the corresponding website, this is done in real time and in parallel with the current purchase interest. This has the advantage that the user, in search of a specific product, visits several shops and websites to compare the offers.
In search of the net, pages are repeatedly abandoned, even if they contain an unbeatably cheap offer. If this product is located on one of the first pages that have been visited, there is a possibility that the user will forget the first product seen. In order to ensure that no offer is forgotten when calling up further pages, it is important to recall the product that was called and thus also viewed specifically. And in real time.
The fully automated algorithms in real time bidding take into account a variety of different factors for banner design. For example, the pages that were visited are taken into account. But the original starting point also plays an essential role. The calculation also includes the number of individual page accesses, as well as the duration of the stay. The characteristics and the sequence of the individual products and services are also an important part of the banner design.
Of course, the previous purchasing behaviour of the user also influences the banner design. In addition, many providers offer individual settings in the banner design. In this way, it can be individually determined how often visitors get to see a banner. Thus, for example, banner burn-outs can be prevented at the ‘Frequency Cap’. This setting allows the frequency of banners to be displayed and prevents visitors from feeling annoyed or tracked.
Above-average high CTRs and post-click conversions
The resulting results show their effect. With remarketing, above-average high CTRs and post-click conversions can be achieved. With remarketing, conversion rates are 5-10 percent and have a positive effect on the increase in sales. In addition to measurable post-click conversion, retargeting also has an enormous cross-media effect, which is why one reason is to implement remarketing as a concept for customer recovery. Retargeting offers the convenient and cost-effective way to bring potential interested customers back to their own website and thus remain “the top of mind”.
