When it comes to selling products and services, most businesses focus solely on acquiring new customers and undervalue the possibility of retaining their existing customers. In fact, studies show that it’s cheaper to retain a customer than acquire a new one and the probability of selling something to an existing customer is 60-70% whereas selling to a new prospect is 5-20%.
Retargeting is an advertising technique that targets people who have visited a website. A person who visits a particular product page may later get served a display ad for the same product elsewhere, or even via their social media channels.
By showing relevant, targeted ads to interested customers, retargeting raises brand awareness and increases conversions. Moreover, you can run them with automation, so your ads work in the background while you focus on other aspects of your business. Your messaging is easy to personalise and will aim to increase order rates.