Let’s face it, many of your potential clients click on a product, check your offer, but than resign from finalizing a purchase. According to Baymard analysis, the average documented online shopping cart abandonment rate is almost 70 percent.
Some of your website’s users will decide to buy a product right away, but some will purchase days or even months later. Knowing how to target these different user segments based on a wide range of variables is one of the powerful features of performance-based solutions. Professional ecommerce players use retargeters to find the smartest approach for their businesses. But what metrics are they looking for when running advertising campaign? And which are worth investigating for better results?
Improving your retargeting campaign is an exercise in going beyond standard statistics – you need to find which metrics mean the most to your online activities. Below, you’ll find in-depth analysis of key measures prepared by RTB House – a global company providing retargeting technology for top advertisers worldwide.
Let’s take a look at ways you can use them to make reliable reviews, assess your efforts, and then use those results to take the right optimization decisions.
#1 Always Segment Users
Planning advertising activities for your conversion funnel is just a tiny part of retargeting.
A successful campaign is almost always closely tied to a unique customer journey of potential and existing clients. This means being able to find out how much potential each visitor has. Are they a former buyer? A window shopper? Did they only visit once? That are the ‘must-have’ questions when thinking about an accurate optimization.
Furthermore, differentiating between visitors, shoppers and buyers can lead to even more variables which you can segment and then target. New technologies allow modern marketers attract potential buyers with offers fit to their very individual needs. Advertisers can for example find users of fashion industry that prefer to buy during sale peaks and those who finalize a transaction only with standard offers. They are able to deliver a personalized message to those of travel sites’ visitors who buy last or those interested only in first minute offers, etc.
By checking in-depth analysis and segmenting users, you can deliver a specific message to the most promising buyers ex. just those who have never bought anything in your e-shop. You can remind users about one product from a specific category they viewed. You can even recapture the attention of users who visited 30 or 60 days ago, reconnecting them with a special offer or promotion.
#2 Check Results Per Creative
Industry experts estimate that the average person is exposed to around 5,000 ads per day. With such saturated competition, users become numb to banners and simply might not notice your message, especially if they are in the ‘retargeting process’ for a while.
With a deep analysis of your creatives, you can evaluate the look and effectiveness of every banner used in the campaign. Knowledge about what works best in different user segments (e.g. visitors, shoppers or buyers) can be useful when making future decisions about new layouts, keeping tried-and-true banners, or using different formats per user segment.
#3 Take A Closer Look At Devices
If your goal is to reach your potential clients wherever they are, you should consider optimizing your retargeting campaign on several platforms at the same time. According to Global Web Index, on average, the typical digital consumer now owns 3.64 connected devices.
However, to use a full potential of every channel, you should monitor results from every device category. Tracking ad performance in terms of conversions, clicks or other metrics, will help you to decide where to place more or less budget in future efforts.
#4 Measure Channel Input
RTB House analysis showed that social and regular retargeting provide a stronger combination than a single-channel advertising message. In conjunction with a regular RTB campaign, social display can bring stronger visibility, while regular RTB converts that visibility into action.
To optimize your retargeting campaign, make sure your channel statistics are broken into different placement channels, including Facebook, Instagram or in-app ads. Check creatives used in different channels and see if one route has better results than another.
#5 Target Geographic Locations
Finding your best performing regions is critical to optimization. Customers from different areas react to your ads in different ways. Some of them will open to buy a product, while others won’t be interested in the offer. A good strategy is to check how certain banners or offers perform in by geographic location, so that you can eliminate, or repeat, your tactics locally in retargeting.
Working towards optimizing your campaigns can often deliver greater ROIs than increasing your ad spend. It takes time to pinpoint which metrics are most important to your business, but once you identify and track them in a retargeting panel delivered by your tech provider, you’ll be able to take steps to hyper-optimized campaigns. Most advanced retargeters can provide these metrics, and critical features like segmentation and multi-channel advertising allow marketers to easily adjust to their short, mid and long-term goals.