What is Social Media Retargeting?
After browsing a website or doing some online shopping, have you ever noticed that the same pair of shoes you were thinking of buying appears in an ad on your favorite social media site? No one is reading your mind, and you are not witnessing divine intervention (although, if you need to tell yourself it’s the universe’s way of saying you can’t live without them, we won’t tell you differently!).
What you are experiencing, though, is a case of social media retargeting – a relatively new and extremely effective social media advertising tool. Retargeting on social media, otherwise referred to as social media remarketing, is a cookie-based technology that follows users as they travel online so businesses can offer follow-up engagement with their brand and products on social media.
The average person spends an average of 145 minutes on social media each day1, creating opportunities to reach your target audiences and business goals with a social media retargeting campaign.
How Social Media Retargeting Works
After a consumer browses on your site, social media retargeting reminds them of products and sites they visited while they are using social media platforms like Facebook or LinkedIn. The ad may also offer a promotion or other incentive for the consumer to return and complete their purchase.
Why Retargeting Through Social Media is Valuable
Social media platforms have become extremely powerful marketing channels where marketers can extend their reach exponentially with little risk. Social media retargeting has several benefits, including:
Building brand awareness
Retargeting allows companies to connect with potential customers over and over again. It takes 9 to 13 “touches,” or audience engagements, to make a lasting impression on your consumer.
Retargeting reminds them of the items they were looking at and suggests other purchasing options they may not have been aware of before. It often makes it easier to entice them to buy.
Reducing cart abandonment
Cart abandonment happens when a consumer puts items in their cart on your online store but leaves before checking out and completing their purchase. Retargeting ads can remind them of the things they left behind and take another swing at making the sale.
Suggesting new products
Even if a customer has made a purchase, you can use social media retargeting to suggest complimentary or additional items they might be interested in.
Social media retargeting strategies are powerful tools that offer so little to lose and so much to gain. When used thoughtfully and strategically, they can be an incredibly effective way to connect with your target audiences, build relationships, increase sales, and cultivate success. At Paradigm, our social media team stays up to date on new trends and opportunities and are prepared with the tools, expertise, and knowledge to effectively manage the development and day-to-day execution of your social media marketing strategy. If our social media management services can support your business, please contact us today.