Tuesday, September 26, 2023

What is the Difference Between Targeting and Retargeting solutions?

If you are looking for an effective marketing tool for your website, you may have come across the terms targeting and retargeting. However, you may wonder what these terms mean and what each type of solution does. Let’s look at the main differences between these terms to help you decide which is suitable for your website.

Targeting and retargeting

Spotify’s audience targeting and retargeting solution is both practical digital advertising tools. Both are focused on different parts of the purchase funnel. Targeting is an easy and effective marketing tool that keeps your brand at the forefront of a user’s mind, prompting them to make a conversion after they check the website. It can help boost engagement by introducing products and services that are aligned to the user’s targeted audience.

Retargeting allows you to convert browsers into customers. It’s a cost-effective, high-ROI strategy. Retargeting is best for capturing valuable accounts. It uses information like email addresses and website usage. Emails are the most common prospect identifier, but phone numbers and mobile advertiser IDs are also used. For instance, if a prospect downloads a piece of gated content, the company can use their email address to target them with ads. They’re in the consideration phase of the buying journey, so they’ll likely be interested in your products.

Retargeting builds a relationship between a brand and its customers. It’s a critical element of a comprehensive marketing strategy for an established brand with at least one hundred monthly visitors. Retargeting helps identify and push top-selling products. This boosts sales and ROI. When used correctly, retargeting can drive over 97% of conversions. A well-designed campaign will make your ads relevant to your target audience.

Site retargeting

You’ve probably heard of search and site retargeting if you’ve ever run digital marketing campaigns. Ultimately, site retargeting works much like search retargeting but targets users who’ve visited your website. Site retargeting uses cookies to collect information about past visitors to your website. The insights you gather from these cookies deliver relevant ads to those users. The ads you receive from site retargeting encourage users to buy similar products, browse related products, or simply like your product. Unlike traditional advertising techniques, site retargeting isn’t based on keywords but on the fact that you’ve already contacted a customer on a previous website.

Retargeting uses information collected during a visitor’s first visit to a website to serve ads to entice them to come back. While a primary retargeting campaign shows ads for products they’ve viewed recently, more advanced movements use advanced techniques such as dynamic creative optimization to deliver highly personalized ads to users. This allows retargeting to target different parts of the purchase funnel to provide more relevant ads.

Email retargeting

The difference between targeting and retargeting is businesses’ approach to sending relevant and personalized emails to a specific group of customers. Targeting involves using a highly customized system to send personalized messages to the same audience that visited your website previously. The emails are shipped according to the visitor’s behavior and interests and may take more time to deliver. Email retargeting is also known as behavioral email marketing and can effectively drive sales through email marketing.

Retargeting is an effective method for reaching customers late in their buying journey. While retargeting relies heavily on third-party cookies, they are set to be phased out within the next few months. Targeting is a more complex science, and marketers need to use other factors to make their messages more relevant to each individual. However, if done suitable, retargeting can effectively bring new customers into the fold and maximize their marketing budget’s effectiveness.

List-based retargeting

Choosing a retargeting solution based on list data will help you identify your most targeted audiences and increase your conversions. List-based retargeting enables you to segment your audience based on their behavior and interests. For example, you can create a list of people who completed an add-to-cart conversion but were not converted to a purchase or other action. Alternatively, you can exclude those who viewed an ad without purchasing or making a purchase.

Retargeting is a great way to reach customers late in the buying cycle. It focuses on third-party cookies, but this feature will likely be phased out within a few months. As a result, list-based retargeting gives advertisers more control over the types of ads they choose. Despite its limitations, list-based retargeting can be an excellent tool for finding new customers and increasing the effectiveness of your marketing spend.