The sales cycle can be lengthy and tiresome. There is a good chance that you will lose a number of users in the process which will not convert as paying customer. As a marketer, we are consistently trying to convert as many users as possible. This is where we rely on retargeting ads. Even then, if your drop off rate is high, you need to optimize retargeting ads.
Here are 5 quick tips to help you optimize your ads:
- Choose Audience Insights Over Demographics
Demographics are general details of your target audience that help you define the audience to which you want to show your ads. That's sufficient to some extent for user acquisition campaigns, but when you are running retargeting campaigns, you need to choose audience insights. Audience insights are data points that help you run ads with more precision. It enables you to identify the propensity of conversion, LTV, and other such factors that empower your ads to perform even better.
- Maintain an Eye On Incremental Lift
Retargeting ads are usually run on different channels, platforms, and formats. Incremental lift helps you identify the contribution of each channel in your revenue stream. By keeping a close eye on the incremental lift, you remain on top of the right information to make the decision and future strategy. Not only it helps you pick the top performer, but it also enables you to understand which user journey delivers higher conversions. Easily you can focus your retargeting ads on those channels and convert more users and drive more Return on Ad Spend (ROAS).
- Sync Retargeting with User Acquisition
There is a common rule in advertising that your ad copy's message and landing page's first snapshot should be consistent so that the user journey remains smooth. It helps in guiding more users into paying customers. Similarly, your user acquisition and retargeting campaigns should be compatible as well. When your one campaign supports the other in terms of ad messaging, terminologies, and strategic level, there are greater chances of achieving the success of the campaigns.
- Don't Forget Social Media Ads
If reports are to be believed, social networking websites and apps consume almost 144 minutes per day of internet users worldwide. More than just eyeballs, social media platforms also have an extensive collection of user data that can enable the delivery of relevant ads. Moreover, you get the advantage of utilizing different ad formats. Most of them support various ad formats, such as videos, images, carousels, GIFs, and more. You can use them to boost your campaign performance.
- Analyze Your Campaigns
A key aspect of improvisation lies in the analysis. You can consider why your campaigns are missing out on targets or what they are lacking. For a process-oriented approach, go with the campaign data. Analyze the data minutely to see the gaps in the retargeting campaigns. There are ad platforms that run on Machine Learning, which makes the process of campaign optimization automated to some extent. However, a human touch is always preferred to understand from the user's perspective.
Wrapping Up
With the right retargeting process, you can bring down your churn rate and acquisition cost while growing your ROI and RoAS. As a thumb rule, the optimization of ads is a continuous process. We hope the abovementioned points will help you in keeping the retargeting keep getting focused at improved results.