99% of visitors won’t buy on their first visit.
Retargeting, also often called remarketing, is a type of advertising which targets customers who have visited your site.
Advertisers display ads to visitors who have abandoned their site based on prior engagement.
Google Dynamic Retargeting is a highly underutilized tool, with substantial benefits for online retailers.
Below Josh Brisco, lead Retail Search Manager and Remarketing Specialist, discusses the major benefits of Google Dynamic Remarketing:
7 Ways Google Dynamic Remarketing Increases Online Revenue
1.Google Dynamic Remarketing Targets Specific Visitors
Retargeting engages customers who have visited your site, made a purchase, or made another type of interaction with your online store.
Google Dynamic Remarketing targets four segments of visitors based on site activity (below via Google):
General visitors – People who visited your website but didn’t view specific products. The dynamic ad will include the most popular products from your site.
Product viewers – People who viewed specific product pages on your site but did not add them to the shopping cart. The dynamic ad will show the products that your visitors viewed and mix in recommended products.
Past buyers – People who purchased products from you in the past. The dynamic ad will show related products by looking at popular items and items commonly purchased together.
Shopping cart abandoners – People who added products to the shopping cart but didn’t complete the purchase
Google Dynamic Remarketing utilizes browser cookies to track visitor actions and target very specific shoppers with specific ad content.
2.Custom Google Dynamic Remarketing Tools
- Customizable audiences with remarketing lists
- Large customer base with Google Display Network
- Ability to bid competitively with the Google Conversion Optimizer
- Simple ad creation
- Comprehensive Ad Analytics
- Ability to target ads based on demographic segments
3. Google Dynamic Remarketing Has Higher ROI
Retargeting traditionally has a higher ROI than other forms of advertising, as ads are 1) shown and 2) tailored to customers who have already shown purchase intent, or at the very least interest in your store. Customers who are already in the conversion funnel (people looking to shop) are much more likely to make a purchase overall, and consequently convert higher on remarketing ads. For the same reason, Retargeting also has higher click through rate (CTR) than other ads, as the content is specific and relevent to its audience based on previous they’ve taken on site.
4. Recapture past converting traffic
Google Dynamic remarketing highlights relevant product or store information with ads which highlights:
- Ads specific to your site on other sites
- Relevant ads specific to product page
- Display product information which is related to what visitors viewed on your site
Of the site visitors targeted, customers who have made a purchase or performed a similar action are even more likely to make a purchase, particularly when presented with items they already have purchased.
5. Recapture lost traffic
Retargeting allow advertisers to speak to the 95% of your site visitors who haven’t made a purchase, and help push them down the funnel. Even if you don’t convert on Retargeting, its an effective tool for branding, and keeping your items and store top of the mind for consumers.
6. Targets Low-Funnel Visitors
Comparison shopping is a regular habit for many online shoppers. Visitors who haven’t made a purchase but are likely to make a purchase can easily be lost if they aren’t reminded they were about to make a purchase, or added an item to the cart.
7. No Minimum Spend on GDR
If you are retargeting using Google Dynamic Remarketing (GDR) there is no minimum spend, and advertisers have Control of the cost per click (CPC) metric.
For the majority of websites, 2% of web traffic converts on its initial visit. Retargeting is a useful tool to push the remaining 98% of those customers back to your site to increase the likelihood they convert.