In 2019, retargeting is on the rise.
One of the programmatic trends we expect is wider use of retargeting given the growing importance of customer loyalty and the fact that it’s more efficient to retain customers than to acquire new ones.
If you’re an advertiser considering running retargeting campaigns this year, it is essential for you to know how to maximize your campaign’s performance to successfully drive growth. Below are three tips on how you can optimize your retargeting campaign. These are based on best practices we’ve learned over the years through our experiences in running retargeting campaigns for our clients.
1. Know your audience
Running a retargeting campaign is like rekindling the trust of your target audience and sustaining your relationship with them. The first step is to get to know the audience you want to retarget.
The audience data includes information about users such as their spend level, number of days since they last opened the app, those who have added an item to their cart, those who recently viewed an item offered in an app, and many more. We define the audience data into different segments and apply specific creative strategies to make the ads more personalized.
For example, one specific segment allows us to target a user of a travel app who is between 20-30 years old and has a high level of spending.
2. Mind your creative
The creative ads you show are your way of communicating your message to your target audience. Once you know your audience, you will have an idea how to approach them and spark a conversation.
At this point, you will be able to implement different creative strategies and find out which ones work and which do not. These include personalization, localization, and champion/challenger multivariate testing.
Pay attention to your creative as it is your way of keeping your users engaged. Get rid of the creative strategies that are not effective and constantly go back to the first tip to make sure that your creative strategies are aligned with your target audience. Regularly refresh your creative to prevent ad fatigue and continue to personalize your creative ads even after a user has made a purchase.
3. Incorporate strategies to measure your campaign performance efficiently
Measuring your campaign performance is a must to keep track of how far you are from your goals, or how near. However, analyzing huge chunks of data can be tedious and overwhelming. To make sure you are taking action in line with the data presented, analyzing the impact of your campaigns should be tracked quickly. PSA Testing is an effective way to analyze campaign performance.
In a retargeting campaign that was run for 23 days, we found that audience segmentation, application of the right creative strategies, and efficient tracking of performance resulted in 19% ROI and 16% CTR.
There are many factors to consider when running a retargeting campaign. The tips above are just the tip of the iceberg. When planning your retargeting campaign, always consider your own marketing objectives and goals.