Lucas Weaver
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Lucas Weaver

Marketing Strategist at Weaver Communication
Lucas Weaver is the founder of Weaver Communication and author of Explaining Digital Marketing.
Lucas Weaver
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Retargeting for Small Businesses

What is the number one thing you can do today to increase the Return on Investment (ROI) of every single one of your current advertising campaigns?

It’s called Retargeting, and it’s the Ultimate Investment Protector.

How are you currently advertising? TV? Radio? Flyers? Direct mail? Google AdWords?

It doesn’t matter!

No matter what method you are using to tell potential customers about your business, Retargeting can help you turn those interested prospects into paying customers.

 

Almost every piece of marketing material that gets handed out these days has a website URL on it somewhere. Most prospects are going to businesses’ websites to check out what they have to offer before they make any kind of contact with them. (This is 2016, my grandma has a Kindle Fire, EVERYONE is using the internet.)

So if you are spending money (probably a large amount of money) to get people who might be in the market for your products or services to go to your website, why wouldn’t you follow up with those prospects to increase the chances of them becoming your customer after they leave your website?

On average, 6% of the people who come to your website will actually contact you and become a lead.  That leaves 94% of the people who visit your website never to be heard from again. This is including paid traffic campaigns (while a good PPC campaign can see contact rates of 10-15%.)

If you’re spending $3,000 a month on Google AdWords, or $5,000 a month on TV or Radio advertising, 94% of the website visitors your business is paying for are leaving without any contact.

That means that 94% of your advertising dollars are being WASTED.

So how can you make those advertising dollars go farther? How can you get a higher ROI from the money you are already spending on advertising?

Retargeting.

What is Retargeting:

Retargeting comes in multiple forms. The basic concept is as follows:

People come to your website —- they leave without contacting you —- they see ads for your business on other websites while they surf the internet.

These ads can be in many different forms. You can show ads on Facebook, Twitter, YouTube, and you can also show your run of the mill banner or box display ads.

The best part of these ads is that they cost about a penny each.  You set them up the way you want: They won’t show to people who have already contacted you, they can be capped so people won’t see your ad too many times each day, and they can be customized to different sections of your website or different services.

Benefits of Retargeting: 

Businesses that use Retargeting on average see a lift of 70% in conversion rates (percentage of people that visit your website that contact you.)

What does that mean? It means the stat of 6% of people who visit your website and contact you can now turn into over 10%.

Now out of every 100 people who come to your website, you can get 10 contacts instead of 6.

What does a difference of 4% look like for you? If your business has 300 website visitors a month, 4% can mean an increase in 12 leads a month.

If you have 500 visitors a month, it can mean a difference of 20 leads.

How much additional profit is your business going to bring in if you get an extra 20 leads a month?

If you need an ROI stat, the average ROI of Retargeting campaigns run on the AdRoll platform is $10 for every $1 spent. (AdRoll is the platform I use for the Retargeting campaigns I manage, and it’s the number one rated provider.)

Cost of Retargeting:

The minimum budget for a Retargeting campaign on AdRoll is $25 a week.

Retargeting is purchased on a CPM (cost per 1000 impressions) rather than a CPC (cost per click) basis.

The amount of money you need to spend on Retargeting depends directly on the number of visitors your website gets each month. The higher your traffic, the more you’ll have to spend on staying in front of those website visitors.

CPM’s on AdRoll are around the $2.50 mark.

If you’re spending $3,000 a month or more on advertising, you really need to look seriously at Retargeting.

Spend $1,000 to get an extra 10 to 20 leads a month out of the advertising money you’re already spending, why wouldn’t you want to do that?

That is why I have given Retargeting the esteemed title: The Ultimate Investment Protector.

 

If you’re interested in adding Retargeting to your business’ marketing mix, schedule a consultation with me here.