It’s easier to repurpose past clients than to find new ones
Whether you’re an e-commerce shop, a small "brick and mortar" boutique, or a major retail chain, you should never overlook past customers and clients as a potential source of future revenue. In fact, it’s often easier to remarket to your past clients than it is to generate new business leads.
Your past customers are invaluable, in that they already understand your product or service, they have had personal interaction with your brand, and they have likely developed an opinion about your product and its ability to satisfy their needs.
As we’ll see, sometimes all that is needed is for your company to re-introduce itself, reminding the customer about your product. Other times, you’ll need to do some harder work, changing customers’ opinions and perceptions about your product and its ability to satisfy their needs. Both of these paths achieve the ultimate objective…
Compilation of abandonment rates and follow-up email conversion rates in retail, fashion, travel, finance and not-for profit
We recommend retargeting as an essential activity in our RACE framework customer lifecycle activities. That's because it can help boost both conversion to lead and conversion to sale conversion rates. This pair of charts focusing on email retargeting show it's worthwhile putting a range of retargeting tactics in place, regardless of the type of business.
Cart abandonment rates
This data is based on abandonment rates from Salecycle customers. It shows that the average cart abandonment rate is 75.4% with rates in some sectors such as travel and finance being even higher.
Following up on this interest with a reminder email (if you have collected it, which you should) is one way of increasing conversion, using a simple reminder or a more persuasive discount. It's worth testing which discounts…
Whether they realise it or not, most people will have been exposed to remarketing ads whilst surfing the web
Remarketing ads are text, image or video ads which appear all over the internet to encourage you to return to a website you visited previously. The theory behind this is that if you didn’t covert (buy something, make an enquiry, etc) on your first visit to that site then you might do if you return for a subsequent visit.
As an advertiser, there are a number of platforms you can use to display your remarketing ads, such as Facebook and Google AdWords. Of these, AdWords is probably the one that will give you the widest reach.
Using remarketing in AdWords is a fairly straightforward process. First you need to create an audience list – i.e. define which people you want to remarket to. This could be, for example, everyone who has visited your website…
