April 2, 2020
Retargeting for e-commerce

Retargeting for e-commerce

Hey. Did you know your e-commerce
website can track shopper behavior, and respond
with dynamic advertising? And that this can be used
to bring visitors back to your shop, even after they’ve left
to visit other sites? This is called “product retargeting”. Now, let’s explore what it is,
how it works, and tips for running your own
successful retargeting campaigns. We’ve all browsed an online shop,
put a product in our shopping cart, and then for whatever reason,
decided not to buy it. Think of the last time you did this. Did you then suddenly start seeing
ads for that product you didn’t buy on other websites across the web? Yeah? Well, that’s what we call “retargeting”. The way a shopper behaves
on an e-commerce site, can tell that shop owner a lot
about which products they’re interested in and even what
they’re on the verge of buying. This is very useful information
for your business. Because it allows you to create
very specific advertisements aimed at people who have shown
an interest in certain products. That’s what product retargeting–
or “remarketing” is all about. Let’s say someone is shopping
online for bespoke furniture. They visit your e-commerce site and they fall in love with an exquisitely
carved armoire that you offer. But halfway through the checkout
process, they decide to hold off, and see if any other shops
had any special offers first. Luckily, while they were
browsing your online furniture store, you were using
a product retargeting solution. This is a small bit of code
placed on the pages of your website. This code tracks which products on
that page the shopper is interested in. Of course, this tracking code
uses anonymous methods, so no personal information
is exchanged. But what has happened is that
your website tracked a behavior. It now knows that the shopper
wanted that armoire, and that they didn’t actually buy it. That online shopping behavior is great information
for you as an advertiser. Now you can use
that information to take action. This is where product retargeting
solutions come into play. There are a number
of retargeting options out there. All of them will allow you
to collect information and then target audiences
with customized ads based on that information. So let’s say the shopper
leaves your furniture shop and clicks over to a news website. They’re reading the news article, and off to the right of the page
what do they see? Yep, your digital ad with an image
of that armoire they were just looking at. You may even include
a 20% discount here too. That incentive might just be enough to persuade them
to make that purchase after all. That’s basically product retargeting. There are many services available,
like Google AdWords and Criteo. The services basically
work in the same way. So let’s talk a bit more about that. It starts with that bit
of code we mentioned that tracks shoppers’ interactions. This information is then sent
to your product’s retargeting service. As an advertiser, you can go to your product
retargeting service and set up rules and parameters. So when a person browsing
your site meets those parameters, the service will then start targeting
them with advertisements over one or more
internet advertising networks. Since the service knows
exactly which products the shopper was interested in, those advertisements
can be very specific and dynamic. Now let’s look at a few guidelines for
running these kinds of campaigns. First, you don’t always have to
offer a discount right away. While in the earlier example, we considered price
as a reason the shopper didn’t buy. In reality, there are loads
of reasons people leave websites without making a purchase. And if you always offer a discount,
you could be selling yourself short. Next, it’s good to know when
to stop showing these ads. It’s certainly possible that the visitor
found the same product somewhere else and bought it, or simply changed their mind
and isn’t going to buy it at any price. Most retargeting solutions
allow you to set limits and experiment with just how
many times you’ll show the same ad, to the same person, and for how long. As with any advertising campaign, it’s important to measure and optimize the performance of your products’
retargeting campaigns over time. This means tracking conversion rates,
testing new types of ads, tweaking your parameters, and using analytics
to manage these campaigns. Product retargeting can be a
great way to re-engage visitors that might not have returned otherwise. Knowing how it works, how to do it, and how to optimize over time, can make these campaigns a great addition to your digital marketing plan.

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