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Stop Wasting Money on Re-Marketing to Your Customers
As brands work toward implementing better remarketing tactics and customer engagement, they should make it a priority to understand who their customers are. When they do, they’re set up for success in today's hyper-focused marketing world.
Sep 3, 2020
Why wasted money and resources on re-marketing are a by-product of not having a direct relationship with your customer.
Bringing visitors back to your site is a tactical marketing tool. It’s a technique used to follow up with a website visitor who engaged but never got hooked. More times than not however, it’s a practice wasted on people who have already made the purchase. The line between prospect and customer is blurred, leaving brands to treat everyone as a possible buyer. In doing so, they spend costly dollars in a competitive space, potentially marketing over and over again to people who already took the bait.
It’s like the salesperson following you out to your car rattling off all the features of that new vacuum — the one that you just purchased inside at the register. You’re left feeling like the business has no interest in or idea of who you are.
Where It Goes Wrong
The brands that have no direct relationship to their customers inadequately re-market to the wrong sector of people. The money spent to retarget the customers who’ve already purchased could have been well spent instead nurturing that buyer relationship so that they become supporters for the business and advocates of the product.
Brands know building a long-lasting relationship with their consumers is key to creating a prime customer experience for the lifecycle of the product they own. If brands don’t have that relationship, they can’t improve the customer experience, causing them to shell out unnecessary dollars in the wrong places.
Figuring Out Prospect vs. Customer Alters the Experience
Companies that sell software, especially through a subscription pricing model, tend to know who are their customers and who are their prospects. As a result, their marketing teams are hunting with a sniper rifle. While many brands who sell one-off physical goods are blindfolded, wasting valuable resources and budget money by pinning the tail on the donkey. It ends up being a guessing game without significant understanding about a site visitor.
Businesses re-marketing without doing their due diligence first can be damaging from an experience standpoint as well. Imagine you’ve been shopping online for new sunglasses. You found a few styles you liked but got distracted, like 88% of other cart abandoners, and never clicked “checkout”.
The next day, an Ad pops up on Facebook with the pair you stared at the longest. With one click, you’re back, and new shades are on their way. Kudos to the marketer. They got their ROI.
Then you go back to your feed the next day. Same ad. What the heck? You already bought them. Why do they need to show you again? They mistakenly targeted the buyer as a prospect. That experience for the customer of being force fed when they’ve already eaten enough can leave a bad taste in the mouths of buyers questioning whether to purchase from you in the future.
By serving up the goods your customers have already purchased, not only are you wasting money, you’re reducing the likelihood of those customers returning.
The cost of acquisition can be brand damaging when using up inefficient resources because there’s no direct connection to the customer. Businesses need to outsmart their competition and increase market share in ways that don’t take a big bite out of their marketing budget. The money and energy wasted on these resources prove useless when you don’t know who your customer is.
By shifting focus towards developing brand advocates from those who have already purchased, brands will see an increase in their company reach since consumers love to be a part of the brands they’re loyal to.
That customer engagement is what reigns supreme. When you know your customer, you treat them as one. When they’re treated as one, trust is built. When they trust you, they’ll look to you for insight, recommendations, and future purchases.
As brands work toward implementing better re-marketing tactics and customer engagement, they should make it a priority to understand who their customers are. When they do, they’re set up for success in today's hyper-focused marketing world. A combination of the right technology with a customer-centric approach can position a brand for success and yield higher engagement, retention and revenue.
See how Blustream can help link your brand to your customers for the long haul so you can focus your re-marketing strategy on the right people.