Over the past months, there’s a bit of a decline in digital advertising due to the effects of the pandemic on the market. The good news is there’s a big chance that this might reverse in the coming years as a result of more businesses seeing the value of putting up their brands on the internet.
On average, a person who’s exposed online sees at least 6,000 ads per day. Yes, you saw that right – 6,000. But because we see so many ads per day, a majority of them we tend to forget. Why? Simply because the human brain is not capable of absorbing too much information. On the other end of the spectrum, there are these ads that we couldn’t get out of our heads; and sometimes, it may even feel like they are following us.
In the marketing world, that’s what we call retargeting.
What is retargeting?
Retargeting is a form of online advertising where users are reminded of a product or service that they recently have checked on a website but did not purchase. Most marketers find this effective since someone who’s already familiar with a brand will more likely convert.
Why is it important?
The most obvious reason why advertisers retarget is that they want to generate more sales. And by keeping their products or services on top of the minds of their target customers, they will have the opportunity to persuade them to buy.
Retargeting also increases brand awareness, which is an essential stage in the buyer’s journey. So even though they did not convert, as long as you made a good impression, the probability of your brand to get considered next time can only increase. Also, launching retargeting ads help you gain insights that can be useful for your future marketing campaigns.
How does it work?
Is it not against the GDPR?
If you’re trying to collect data from users inside the European Union (EU), you are required to comply with GDPR (General Data Protection Regulation), a European law on data protection and privacy.
To answer the question, retargeting is not against the GDPR. However, you can only collect the personal information of users that gave their explicit consent for specific purposes. This is commonly referred to as the cookie consent.
Retargeting is a great way to connect with your target customers, regardless if they convert or not. Sometimes, it might take time to get them through your marketing funnel. But, as you get to know your audience more, it gets easier to construct the right message that will make them click in a snap.