Customer retention is undoubtedly good for your business. But, keeping clients and turning them into loyal fans can present a challenge. After all, consumers switch brands for many reasons. Surely, most motives revolve around customer experience. For this reason, to address these issues, business owners roll out retargeting campaigns.
However, not all retargeting campaigns deliver results. Ads that don’t add value or lack relevancy risk turning off an existing customer. Instead, ensure an immersive experience with your retargeting campaign. Doing so helps you significantly boost customer retention and satisfaction rates.
RETARGETING CAMPAIGN BENEFITS
Firstly, a retargeting campaign helps you connect with your customers. Secondly, it delivers extra value and boosts brand loyalty. Thirdly, retaining existing customers increases profit and reduces your expenses.
Bain & Company research finds, “A 5% increase in customer retention correlates with at least a 25% increase in profit.” Plus, “It’s more than 350% more profitable to sell to an existing customer than to a new one, according to James Altfeld.
But it’s not only about your profits. Retaining customers also simultaneously reduces costs. Fundera shows “a 2% increase in customer retention can lower costs by as much as 10%.” With a retargeting campaign, you can reach your customer retention goals. OptinMonster shares these statistics about retargeting campaigns:
- Using retargeting with other marketing channels can increase overall sales by up to 50%
- Facebook retargeted ads are 76% more likely to get clicks than regular display ads
WHAT ARE RETARGETING CAMPAIGNS?
A retargeting campaign sends compelling messages to an existing customer. These custom ads improve customer experience by providing value.
- Retargeting ads on Facebook
- Remarketing to those who interacted with customer service
- Google retargeting advertisements
- Retargeting via email marketing
- Website visitor retargeting
A successful campaign is more than finding the right audience to retarget. It’s about producing an ad or message that’s relevant to your customer. Moreover, Retargeting campaigns that deliver value also earn you the trust of your customers.
HOW TO CREATE A RETARGETING CAMPAIGN FOR CUSTOMER RETENTION
Retargeting campaigns work surprisingly well across many channels. As long as you start with the needs of your audience, you’ll have markedly better success. Before designing a new campaign, take these steps.
- Create a custom audience. Segment your customers so you can focus on a tailored message. Will you target those who recently purchased from a product category on your website? Or retarget new email subscribers?
- Determine which platforms you’ll use. Almost all channels provide for retargeting campaigns. Will you retarget existing customers with a Facebook ad, email marketing, or Google advertisement?
- Learn what your customers need after the sale. Use your analytics data to see the path new customers take. Do customers need help with set-up? Perhaps an add-on accessory enhances their experience.
- Decide how your campaign improves customer experience. Look at what your customer needs and figure out how you can deliver extra help. Brainstorm retargeting ideas that put your customers first.
- Develop a relevant retargeting campaign. The journey doesn’t end after a sale. Instead, your retargeting campaign nurtures customers for greater lifetime value.
BOOST YOUR CUSTOMER RETENTION RATE USING RETARGETING CAMPAIGNS
A well-designed retargeting campaign boosts your customer retention rates with a human-first strategy. Develop ads that address and assist existing customers. By doing so, you’ll improve customer experience. Engaging and supporting customers builds better relationships and increases brand loyalty over the long haul.