To date, retargeting has typically been sold
to advertisers as part of a package. Networks create an advertising
menu for an advertiser that includes the main course -- category-based
campaigns -- then throw in some RON filler and retargeting as a garnish.
Retargeting has reached a level of importance that it should be the
main course in these menus. The catch is that advertisers have to give
retargeting the attention it deserves, and it's important to pick the
right retargeting provider to do so. How would an advertiser know which
partner to choose? Here are five important things to look for:
1. Advanced Customization Capabilities:
If you run a paid search program and you only bid on five broad
keywords, would your campaign succeed? Not likely. For search to
perform, it needs depth and a large keyword list. Retargeting functions
similarly; you cannot simply display the same general ads to each
visitor you retarget. You need to target consumers based on what they
looked at on your site; be as relevant as possible! Basic, generic ads
just don't cut it anymore.
2. Analytics: Reports that
show how many consumers clicked your ads, and then how many of those
clicks converted is very basic information that doesn't tell the whole
retargeting story. Retargeting analytics should provide in-depth
information -- like how many days it takes for a consumer to convert,
how many ads a consumer needs to see before converting, what ad
creative performs best, and how to determine the best frequency cap, to
name a few. Advanced analytics are critical to get the most out of
retargeting.
3. Dynamic Ad Capability: For retargeting
to perform optimally, a large volume of display ads is necessary. The
provider should help by generating ads dynamically and having those ads
include specific products and/or categories that the consumer browsed
while on your site. Without dynamic ad generation, you have two
choices. You can spend countless hours creating the volume of ads
necessary, or you choose not to take full advantage of retargeting.
4. Scale:
In terms of reach, a network that states it reaches 135 million people
doesn't answer the important question "How many of my lost prospects
can you retarget?" A large network can reach a decent amount (a good
guess for a decent size network is about 10%) of your lost prospects.
In order to increase reach you might run retargeting on multiple
networks simultaneously. Sounds like a solution, however it's difficult
to manage. Just compiling the reporting from each network is a pain,
not to mention the implementation and optimization issues. Most
importantly is the waste that occurs by not handling each lost prospect
uniquely. A retargeting provider should have a solution that allows you
the greatest reach possible, with no additional stress.
5. Strategic Planning:
Retargeting campaigns are very different than the efforts that drive
new prospects to your site. As such, it's crucial to have a strategic
plan that fits with your other marketing initiatives. Your partner
should take your entire online marketing plan into account to optimize
your campaign. Are they running A/B tests to optimize your campaign?
Are they giving creative suggestions to increase conversions?
Retargeting is a crucial part of a Web site's success, but it must work
with your overall strategy.
Retargeting's performance makes it a must-have for online advertisers;
the key is finding the right partner. The best thing an advertiser can
do is to ask the right questions and be selective of who work with.
This will force retargeting providers to step their game up, and the
results will follow!
