Buying a vehicle is an expensive purchase, and people who are researching online will often look at other competitors to price compare before deciding to take any action.
Statistics show that 96 percent of website visitors leave without converting – it’s uncommon for a person to buy something from a site during their first visit.
Multiple factors can prompt a person to skip away from a website, but how do you get these potential customers back to your homepage? This is where remarketing comes in.
Remarketing, a technique aimed towards people who visited a website but didn’t perform a transaction, is a form of online marketing that targets potential customers through advertising. Proven to be extremely effective, remarketing ensures that your business stays on the mind of people who are likely to drive a higher return rate.
Used by businesses to reach online audiences and help drive conversion rates, remarketing is a valuable tool for increasing sales and introducing deals. However, if implemented with no plan of action, it could lack effectiveness. Targeting a person who has previously visited your website starts with a tag. This snip of code tracks who is visiting your website, thus allowing a business to retarget potential customers through advertisements.
There are tons of remarketing strategies that your business can test, however, we’ve approached the concept of remarketing in a way that has increased our sales, introduced more deals, and reduced our wasted advertising budget by an immeasurable amount. Our secret to remarketing success beings with one thing: tag placement.
If our remarketing tag was placed on the first page of our website, we could tag and retarget every one of our website visitors. However, because our business relies solely on generating users who can qualify for a car loan, we don’t want to bring everyone back.
When an interested customer fills out our online application form, they identify themselves as either employed or unemployed. By placing the tag on the unemployed button of our application page, we’ve created two lists – a list of people who won’t see our advertisements again, and a list of people who have a higher chance of being approved.
This means that through our targeted advertisements, we can continue engaging with high-quality visitors who are not only interested in our service, but who are also eligible to qualify with us. Additionally, this method of tag placement helps us save money, as we’re spending less on advertising for an unemployed audience who we know won’t meet our minimum requirements.
To ensure that you’re achieving optimal remarketing results, it’s crucial to develop a strategy for how your advertisements will be maintained. Focusing your campaign towards specific customers through retargeting lists and specific tag placements will help you snatch those high-quality website visitors, and push them further down the sales funnel.Advanced Tip: Through audience targeting, you can advertise to your potential customer based on what they’re interested in. By putting a tag on your car listings page, you can retarget the people who have shown an intent to purchase a car, because regardless if your advertising budget is tight or not, you only want to engage with your best prospects.