According to a study by The Retargeter, “only 2% of website visitors convert during their first visit, meaning there will be a lost opportunity 98% of the time.” In order to make up that 98% window, we’ve seen an explosion in retargeting, the cookie-based technology that keeps track of people who visit your site and displays your retargeting ads to them as they visit other sites online. While retargeting is a common practice among B2C companies, it can also be beneficial for B2B companies. Here are 3 ways retargeting can increase your B2B marketing results:
1) Unique Segmentation
Unique Segmentation is a useful retargeting practice that allows you to target visitors based on their actions and organize them by assessing what they do before, during and after their website visit. By tracking behavioral movements, you can develop a better understanding of your target audience, while providing them with the solutions they are seeking. Therefore, create your retargeting ad to address how your customers found your website and how they spent their time while they were there.
2) Precise Targeting
B2B audiences put careful consideration and time into every purchasing decision they make. They generally aren’t browsing websites for emotionally driven reasons before making a decision; they are much more narrowly focused on a specific intent. Because they have visited your website, we know that they have shown an interest in your product or service.
Not only are they searching for an approachable solution; they also want as much information as they can find. Therefore, retarget B2B prospects by providing them with something of value that demonstrates industry thought leadership. This will help your audience to realign with their area of interest in your brand. For example, entice them back to your site by providing them with a white paper to download.
3) Improved ROI
One of the fundamental differences between B2B and B2C companies are the lengths of the sales cycle, as B2B audiences usually have a reduced likelihood of impulse buys or spontaneous decisions. Purchases are usually reached after intentional consideration and planning as users move through the lead generation funnel. Your audience might spend months researching solutions before they convert, which means your retargeting campaigns require additional nurturing.
A best practice to increase your ROI is to utilize upselling and cross-selling with your retargeting campaigns. The basic premise around upselling is to capitalize on the fact that when a person converts on your website, it’s because they already like what you do. You can retarget these groups to explain additional features that may interest them. Use this opportunity to demonstrate more value by offering solutions they haven’t found yet.
Understanding the nuances and capabilities of retargetting can be challenging, so you may want to work with a consultant to develop a winning strategy. Once you are able to put retargeting into practice, you’ll soon notice how effective it can be for turning site visitors into customers while ultimately increasing your profits.