Remarketing is a term used in internet marketing that essentially means marketing to people who have already had some kind of interaction with your brand, and who have already shown an interest in a product or service you provide.
We often think of increasing our brand awareness and visibility when we think of marketing. This means that we will be predominantly trying to reach people who have never heard of our business to familiarize them with who we are and what we do. Remarketing conversely means marketing to people who already have shown an interest and maybe even lingered and looked at a store listing for a particular product.
Chances are you will have encountered this type of marketing yourself when browsing the web. If you’ve ever spent time looking at holidays on travel sites, for instance, then you might notice adverts for those very same destinations and hotels appearing on Facebook and Google!
The Benefits
The benefit of this type of advertising is targeting qualified leads and potentially converting them to paying customers. If someone has seen your product online and has spent time looking at it, it probably means they’re likely to want to buy it. Perhaps something then distracted them or took their attention away. By using Google AdWords, you can reach back out to those same people and try to remind them that your product is still there – perhaps at a time when they’re able to purchase without interruption.
You can do this through Google AdWords, but it’s also possible to do the same thing with CRM software. In this case, you’ll be tracking which of your subscribers spends time on which of your pages. You can then look at those customers who are checking out your products and give a high lead score to those who have shown an interest in buying.
The Downsides
Keep in mind, though, that this isn’t a flawless system. While some of your qualified leads will be people who wanted to buy but didn’t get the chance, you’ll also be marketing to people who have already purchased the same product from your competition – or who looked at your product and decided they didn’t want it.
This also means that you’re not creating new leads with that money, which some companies will find more beneficial. As ever, the best approach is a mixed one that combines multiple strategies into one.