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What Are Remarketing and Retargeting- Defining Our Objectives and Purpose

first things first. Retargeting re marketing. Is there a difference between the two? No, there's no difference whatsoever between re marketing and retargeting, just people call it different things. Second of all, if you see me looking down at, down here, off the camera, it's because I'm looking at my computer screen, my ipad have notes. It's not because I have a hard time making eye contact. Uh so forgive me if I look away from the camera here and there. Um it's because I'm just referencing the course material that I have written out. Um let's define re marketing. The marketing is not a tool, it's not a technology platform, it's not like a software like google. Adwords remarketing is a concept, it's a technique and re marketing refers to the act of showing ads to people who have engaged with your brand already for our purposes. When it comes to digital online. Re marketing. Re marketing refers to showing ads to people who have been on your website already. And that's the definition of ...

remarketing. Thank you very much. We'll go on to the next course. I'm just kidding. That would be silly. So, one thing that you guys as business owners, entrepreneurs marketing, um interns marketing managers, whoever you may be your product is not as good as you think it is. And I mean that in the in the kindest least offensive way possible, a research study done by Nielsen in conjunction with google showed that even major, major brands, It took their consumers on average, six visits to their website before they made a purchase. So, so that's a pretty incredible statistic. You guys, most of you are probably tracking google analytics on your on your websites, on your landing pages on your apps and I would say it's pretty accurate and and maybe it falls within a range but you probably are getting about a 123% conversion rate for people that's a filling out of sales form or buying a product 123%. And um another study that was released by Forrester research shows that on average Only 3% and that's that's on the high end 3% of people are going to convert and take that desired action on their first visit. It's usually people who convert on their first visit are generally people who are buying something impulsively. They're generally people who are buying cheap products. It's very rare for a B2B business to business service. Um Like let's say for example outsourced accounting or somebody who's hosting a training seminar, it's very very rare for them to have a 1% conversion rate. It's usually um Um um 3% conversion rate, it's usually even much lower than that. So that's why it's so important um to have re marketing slash retargeting in your marketing mix. Uh It's become a crucial crucial component of being able to increase conversion rates and to make your digital campaigns more successful and more profitable. It used to be many years ago that a lot of other, a lot of companies had an easier time converting visitors on their first visit and if those visitors didn't convert initially, they would generally come back on their own. But because there are so much more competition, there's so much more comparison shopping. Internet speeds are so much faster. There's so many different devices with with which we could interact with brands and with and which brands could use to interact with their consumers. You really need to be able to cut through that noise and and be very very aggressive and staying in front of your consumers. So re marketing is is absolutely crucial even for the best brands with the best products with the best with the best services and with the best um offers. So that's really important. The average display click through rate and display network advertising is zero is 00.7%. And re marketing has shown on average to bring in a click through rate ctr of 0.7% to 1%. Which is a gigantic increase from from 10.7%. Admiral, which is a company that we're going to talk about later in this course did a study Amongst thousands of their advertisers and 89% of companies reported that they're re marketing campaigns have been more effective than there display campaigns. So that's something which is really incredible as well. Now, what is re marketing and and how does the actual remarketing process work from a basic level. So let's go take a look real quick. This is a very broad overview of the marketing process. Step one is a visitor comes to our site, they're browsing, they're taking a look at the products Uh and they're viewing different pages. Hopefully they're viewing different key pages. Step two is the visitor leaves our site 98% of the time, 97% of the time and obviously is gonna is gonna be different for every company. Step three. Those visitors then are browsing the internet, they're reading an article in the Wall Street Journal. Um They're looking at a video on ESPN and they see your ads as they continue to surf the web. And step four is those re marketing ads, bring your visitors back at the right time and they continue to engage and hopefully they'll convert. And by convert and we mean take the steps that you as an advertiser view as um a valuable action for that visitor to take. That's what we mean by convert convert typically might mean a sale, it might mean a sales form a newsletter subscription. But converting um could mean a lot of different things and they represent different things and we're gonna talk about converting in much more detail as we continue to progress through the course. There are also different types of re marketing. Um re marketing is not just showing ads to people on the web where that might be the the most common sort of re marketing but we have re marketing on social. So people have come to our website and we then show them ads as they're browsing their facebook newsfeed as they're browsing twitter as they're browsing linkedin as they're browsing instagram. Um We have re marketing to gmail ads people up into our site. We want to send them specific emails. We could either re market to people um based on keywords or we can re market to people based on their email addresses if they've given us their email address and if they've downloaded a an e book or a white paper there's re marketing like we said on the web on mobile and there's also re marketing in search which is really cool. So in google adwords are able to set up something called R. L. S. A. We'll talk about that later remarketing lists and search ads where you could actually um retarget to people as they continue to do more google searches for specific keywords and you could specifically target previous website visitors in those campaigns. And we'll talk about some specific strategies that make the marketing and search such a powerful tool in the marketer's toolbox. Sorry for the cliche. Um but it's all whatever type of re marketing you're doing. It all essentially flows back to one core conceptual foundation. We're using specific data on the level of engagement of previous website visitors to make very educated clear and profitable decisions on how we want to treat those people as they continue to surf the web use email, use search after leaving our website how aggressively we wanna bid, how specifically want to target them when we want to target them, what message we want to send them. And ultimately all the decision is ultimately geared towards getting those people the right people back to our site at the right time with the right message to buy, sign up, take whatever you know, valuable conversion action we want them to ultimately take. Why is re marketing so powerful? So this is going to start getting us back into understanding display advertising as a whole. But from a very broad, superficial perspective advertising was primarily contextual advertising. Until we had the ability to track cookies. We're gonna talk about what a cookie is, how cookies work, how cookies interact with pixels. If that sounds um foreign to you, just hold on, we're gonna get to all that kind of good stuff. But think about it like this when a company took out a billboard on the side of the highway, they were choosing to take out that billboard because the context of that billboard made sense to the products and services they offered. What is what was the context of that billboard? It might have been the location, it might have been a billboard on the um Long Island expressway where they are advertising products or services sold in Long Island. That's the context. The context was the geography around that billboard it might have been that they knew that this was a very high traffic area. Once again, that's context, its its its characteristics surrounding the actual billboard. They might have chosen to take out that billboard because they knew that it was a high income area and the average home value in that area within a five mile radius was $900,000. And they sell Rolex watches. So that was contextual. We don't know anything about you per per se, we don't know anything about the people passing the billboard. But we know overall contextually this billboard made sense the same thing when it was a a tv ad. If I'm taking out a tv ad, what's the context of that tv of that tv program during which my ad is running, it doesn't make sense that the people who are watching this program would also be interested in the products, services that I'm advertising. So this was all contextual based advertising. And the same thing happened when online advertising became very popular. It was all contextual if I I chose to take out an ad on Forbes dot com on the entrepreneurial section because I felt that my products and services would be appealing to people reading that article that's contextual based advertising. Um Once ad exchanges and ad networks came into play and we're gonna talk about what ad exchanges are and what ad networks are in the in the coming sections. Once digital advertising started becoming more mature, more sophisticated, we were able to do more additional advertisers were able to kind of enhance how they contextually targeted. So I was able to target based on the content of a specific web page. So if I was able to say if this web page talks about certain words or has certain topics contained in it, I want to show an ad and we're still, we're still able to do that today and it happens to be a very powerful and potentially successful way um to enhance our remarketing campaigns and we'll talk about that. But the web basically remained contextual comes along search and search advertising on google was a huge coup to the advertising industry because it allowed us to to show ads at a time where there was a tremendous amount of what we call intent, commercial intent, consumer intent buyer intent, you can call whatever you want. But when somebody went to google and they searched for um Nike running shoes or whatever is you sell or you know, kids pajamas, what they were doing was showing that they, they have a specific intent to learn more about a specific thing. They might have been entering into google and informational query, they might have been entering into google specific product number, but whatever they were searching for, it, it gave it from a psychological perspective, it it showed their intent in a very clear way, We didn't have to guess what their intent was and that's when keyword targeting on the google search network and then later on yahoo bing became a gigantic gigantic business and a huge opportunity and a very successful opportunity for advertisers. Which is why without a doubt 1000% search advertising is the best type of advertising because it shows intent. You could choose specifically which keywords, what search queries you want to show an ad for and you have the ability to hone in specifically on the type of things those consumers want to buy. Once the cookie was introduced where we were companies and data aggregators were able to start developing a dossier or developing um a whole folder, whole file of information on each specific website visitor advertisers were able to start targeting display ads based on behavioral targeting obi a online behavioral targeting that something we're gonna talk about a lot. So we were able to target people based on which websites they visited um if they booked a flight to a certain location recently if they're um readers of a certain type of magazine. So it started mattering less what website they're on now the context of that website. And we started we started to we were able to start advertising in a more sophisticated way than contextual targeting. And we were able to start um using behavioral targeting where we were understanding the characteristics of the person and less and we cared less about the characteristics of where that person was, what the context where that person was. Um and that gave advertisers a more intent based way to target the display network to run display advertising on the web. What re marketing is is really much more sophisticated than behavioral targeting or contextual targeting. It's much more of an extension of search targeting because we're targeting people based on how they interacted with our website. Which products they viewed, did they add something to the cart? Did they make it to the contact us page? Did they start filling out a sales form? Did they did they download an e book? Did they download a white paper? Did they sign up for our blog? Did they read a certain blog article? So we're able to pick up all these signals based on how we track a user interacting with our brand and we're able to make very, very educated and you know, very clear distinctions on the level of not only on the level of engagement that the user has, but what that user is particularly interested in when it comes to our products or services. So re marketing became this very very powerful tool that was really an extension of the intent type of targeting we get with search advertising. So all of this is to say if you're if you're not running the marketing campaigns, you're missing out on a huge amount of traffic if you're running display campaigns and you're and you're targeting the display network and you're not running marketing campaigns, Then you should absolutely take away budget from the display campaigns and start running more sophisticated remarketing campaigns because you're leaving at least at least 50% of your revenue on the table if you're just running search without re marketing, because you're getting a lot of people who are not buying and you get a lot of people who are not entering your sales funnel and you're missing out on the opportunity to re market to those people, bring them back into the funnel and nurture them through the buyer journey and totally ultimately buy your products or services. So that's um, in a basic overview of, of how remarketing works, what the concept of re marketing is being able to target previous visitors really use remarketing as an extension of intent based targeting. Now, I know a lot of this probably sounds a little bit strange. We're talking about ad networks and exchanges cookies, pixels. Um, what I want to do over the next couple of sessions is kind of go back and talk about how display advertising works on the Internet and the history of display advertising. I personally think it's very, very important to understand at a basic level, the mechanisms behind display advertising, how an ad is actually served on a page, how the bidding auction works. I find it to be very useful information because it helps you really understand that process and helps you make better decisions down the line if you're not interested in learning about that stuff, if you don't need to know it, because you'll be able to run your campaigns without knowing it, you'll be able to make great decisions without knowing that stuff. But um if you want to know how that stuff basically works, um continue on watching these next few few chapters, uh If the concept of ad exchanges, ad networks agency trading desks, DSPs demand side platforms, SSP supply side platforms, um R. T. B. Real time bidding, Programmatic bidding. If all that stuff is familiar to you and that and and um you get how you get how all that works already, then go ahead and skip the next couple of chapters to where we start talking about audiences and the core components of of re marketing strategy. Um but I think you'll learn a lot from it. I think it's really exciting stuff and I'm really looking forward to seeing you in the next session, so thank you very much and we'll see you soon.