With the abundance of social media sites like Facebook and Twitter, consumers are spending a lot of their time researching products and services before making a final purchase decision. So how can an advertiser target their prospective customers better? Luckily, there is the option called retargeting done via cookie technology coupled with online display (AKA banner advertising). For example, let's say Victoria just moved to the DC area and she wants to find a local spa. She visits your company's website (a local spa) a few times over the past month, but has not made a final decision yet on where she wants to get a manicure and pedicure this weekend. How can you make sure Victoria remembers your spa when she is ready to make her decision? Online display remarketing enables you to stay at the forefront of Victoria's mind when she is ready to choose her spa.
Harrison Magun, SVP for paid media and analytics at full-service search agency Covario, states that "ninety-five percent of the clicks you buy in search don’t convert. Retargeting lets you reach those users again, at the right time, and move in for the sale" (eMarketer). Online display retargeting helps ensure your brand is remembered when the consumer is ready to buy.
Why else is online display remarketing important for your business? Harrison Magun also suggests that the use of data from display ads can influence major business decisions. Today, seach engine firms, such as Google and Yahoo, allow advertisers to test their display ads in multiple scenarios to determine how to best reach their target customer. This testing is referred to as multi-variant testing, just in case you were wondering.
So remember, while search can introduce your business to a potential customer, online display retargeting can keep your potential customer from forgetting about your business. Together, both types of online advertising can strengthen your brand, build your client base, and increase revenues.
Is your firm currently employing online display advertising? If so, is your firm buying paid ads as well? How have these online mediums influenced your business?
About Alan Moore: Alan is an Internet Marketing Consultant with ReachLocal Baltimore. His mission is to help you increase your revenues and decrease unproductive advertising expenses through proven, online marketing strategies. He manages over $1,000,000 in yearly marketing budgets and has worked with local businesses, agencies and the US government. Give him a call at (877)655-3438 to schedule a free consultation.
Feel free to read some of Harrison Magun’s interview with eMarketer here: http://www.emarketer.com/Article.aspx?R=1008446