I recently wrote a post about how it was important for you to get yourself a business website. In this post I’m going to explain to you re-targeting and why it is important for you to start doing it.
It takes the average business a lot of money to attract a new customer. It is much more expensive to go after new customers than it is to target existing customers. The same goes for advertising.
What if you could pay once for a lead that showed enough interest in your ad that they were willing to click on the link of the post, image or ad and yet market to them multiple times? Re-targeting makes that possible. By retargeting the visitors of your website, you have the opportunity to turn cold traffic into hot traffic.
We’ve already established previously that people buy from those they know, like and trust. When we market to brand new audiences, they don’t know us. Therefore they don’t know, like and trust us. We therefore call that cold traffic. Once a person has gotten to know us a bit, they’ve read some of our content, maybe they’ve visited our website more than once, that person starts to warm up to us. They probably still don’t trust us, trust takes time and a demonstration of authority, but they know we exist and are become familiar with us. In marketing language, we call that warm traffic.
The final step in the buying process is when someone has decided, usually subconsciously, that we are trustworthy. They know about us, they like what we bring to the table, and they believe that we have what it takes to meet their needs. This kind of traffic is called hot traffic.
Frequency helps us know and like
I recently came across an interesting restaurant marketing stat. In the restaurant business, 40% of people who come the first time to a restaurant are likely to come again to the same restaurant. 42% of the customers making a second visit to the restaurant are likely to come again but it is the third time that is really interesting. If a customer comes a third time to the restaurant, the likelihood they’ll come back jumps to 70%! Why? Clearly, each time they came to the restaurant they had a pleasant experience. Coming back three times has developed familiarity. If all three times the experience was nice, it starts to build that all important trust.
While I quoted restaurant stats here, frequency will benefit almost any kind of business. Think about your friends. How did you meet them? Chances are, you went to school together, worked together somewhere, or hung out at the same place over a period of time. Most people become our friends through frequency.
Excellent Experiences Builds Trust
Let me use the analogy of friendship again. If I’ve seen someone multiple times and each time I had a good time talking to them and hanging out, over time I begin to trust this person. The same thing happens in a business. As you deliver on your promises, as your customer has multiple encounters with you, as you demonstrate competence and excellence in your dealings with your clients, they develop trust in you. You become an authority in your area of expertise.
Retargeting is an important stepping stone towards trust
Facebook, Google, Amazon and all big companies know that the more they can get their brand, their presence in front of consumers, the more these consumers will trust them. It’s the same reason that Facebook and Google built re-targeting into their advertising platforms.
That’s why you need to install your Facebook Pixel, their tracking code and Google Analytics code into your website. Don’t have a website? You should get one as soon as possible! Your customers are searching for you, why not tag them when they find you so that you can start to build a relationship with them?