Remarketing is a great way to reconnect with people who have already interacted with one of your digital properties. Whether that’s an ad, your website or your Facebook page, your able to target prospects more efficiently because it’s based on their previous actions.
However, a common practice with remarketing is to go after anyone and everyone. This reduces its effectiveness and makes it more expensive. Instead, begin with segmentation based on the engagement information you have. By using AI & ML algorithms you can do complex combinations to find and target segments with a high chance of converting.
Here are 3 remarketing segments worth pursuing:
- Start by looking at ‘cart dropouts’ because they have shown an intent to buy.
Ideally, you should target them using the products/categories they put into their cart.
- Consider the amount of time spent on your site.
Create the following graph:
- X-Axis: Time spent on your site
- Y-Axis: Conversion Rate
There will be a point where the conversion rate increases considerably. Use the ‘time spent’ at this point to create an audience for targeting.
- Google Analytics has metrics for conversion probability. Create a remarketing audience whose probability to convert is greater than 50%.