This week we partnered with SEMrush and organized the webinar Retargeting Matrix: A Framework I Bet You Haven’t Thought About. Our Principal Tom Bukevicius shared his first-hand experience working on numerous retargeting campaigns for clients. Needless to say, the one-hour webinar was filled with strategy and tactics for getting optimal results from your retargeting campaigns.
If you didn’t have a chance to attend, here are four takeaways:
Takeaway #1: Retargeting Works, But Not for Everyone
Most digital marketers know that retargeting works. In reality it doesn’t work for everyone and here is why:
1. Default settings. Setting your ads to reach the “All Users” audience with a 30-day cookie window and no ad frequency limit.
2. Poor segmentation and boring creative. Careful thought and planning must be given to the audience and ad content.
3. Excessive Ad Frequency. Ads that are too frequent, creepy and annoying end up changing buyer emotions from positive to a range of negative emotions.
How Do You Get Buyers to Buy-In to Your Retargeting Campaigns?
The last thing you want is to turn your buyers against you. To get them on your side, you need to Be Useful.
US consumers want brands to be useful and personalize their experience. Jay Baer wrote a book Youtility on the topic. His main idea was that hype will not help your product or service stand out. You need to be useful first to your customers, only then should you try to sell something.
How can you be useful? To be useful, you need to know:
- How buyers use your website
- What their pain points are
- How to address the pain points
Takeaway #2: The Retargeting Matrix Framework
Retargeting Matrix is built on a framework that provides a clear way to:
Pillar 1: PLAN
Unified strategy. Target the buyer in a unified way across all retargeting channels. Keep strategy and tactics in one place.
Segments. Break down the strategy into conversion funnel steps. Each segment is clearly defined with a goal and the actions we expect people to take.
Audiences. Focus on one conversion funnel step at a time. Build audiences within each segment.
Pillar 2: DEVELOP
Context. Develop context by understanding the pain points of each audience and steps they need to take action. Better context about each user segment helps you create better ads, which lead to better campaigns.
Hooks. Create hooks to address the pain points of each audience. Each hook educates, builds trust, promotes or upsells.
Creative. Develop ad creative focused specifically for each audience.
Pillar 3: SCALE
Structure. Develop audience structure that moves users from one segment to another based on their behavior.
Channels. Reuse the strategy and tactics of existing channel segments to launch new channels.
Workflow. Leverage other team members by clearly communicating the workflow across the team.
Takeaway #3: Discounting May Not Be the Way to Go
When developing hooks, you will feel a temptation to use discounts a lot. In fact, one study shows that buyers make decisions based on discounts. However, discounts have both pros and cons.
At the same time, the same study shows that consumers pay a lot of attention to trust, convenience and value. Most likely your buyers don’t know that you offer these things. And that’s what you need to focus on.
Takeaway #4: Increase Customer Value
There are 9 different ways your retargeting campaigns can add value to buyers. They are categorized below based on three unique campaign goals:
Goal A: Sell More
1. Cross Sell. Cross sell complementary products or services
2. Upsell. Offer products or service upgrades
3. Loyalty Programs. Introduce loyalty program to customers
4. Referral Program. Introduce referral program to customers
Goal B: Increase Loyalty
5. Communities. Invite customers to communities of like-minded customers
6. Customer-Only Events. Promote customer-only events and promotions
7. Top of Mind. Promote content that increases experience and keeps you top of mind
Goal C: Show That You Care
8. Spotlight Customers. Put the best customers in the spotlight
9. Reviews. Ask customers to provide reviews
These four takeaways are just a sample of what was discussed in the webinar.
If you are interested in getting more clarity about approaching your retargeting campaigns, register on our retargeting matrix list. Two things will happen:
- You will be able to download the Retargeting Matrix tool.
- We will stay in the loop for more content about retargeting.