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Have you been wondering where to start with launching a retargeting campaign? With retargeted display ads boosting the chances of a website conversion by 70%, your SaaS company should, if you’re not already, ride the retargeting wave!
What is retargeting?
In terms of strategy, retargeting is simple. When a potential customer visits your site and leaves without buying, you place a tracker on them. Using this information, you can use the usual social platforms and Google to retarget and entice them back to your site—hopefully leaving no more money on the table.
Once your SaaS companies can harness retargeting as a marketing tool, it can be one of the most successful ways to nurture and convert prospects into paying customers. Using retargeting, your business can:
- Tail customers—Your sales team can’t be everywhere, but by quietly following potential customers, retargeting can ensure your product offering pops up around the internet and stays fresh in their mind. .
- Cast wider nets—Retargeting is scalable. Your companies can build and grow campaigns into wider nets depending on your marketing objectives.
- Optimize your sales funnels—Based on your potential customer’s intent, you can target them with a specific message/product in order to increase your engagement and conversions. After all, an optimized sales funnel is a successful one!
Retargeting platforms to consider
The best retargeting platforms will make it easy for your SaaS company to push compelling offers and advertisements to audiences that have previously interacted you online:
Google controls nearly 40% of the total PPC advertising market, enjoying unparalleled access to advertising real estate through both the Google display network and the Google search network. As a result, Google Ads is one of the best platforms to ensure that your retargeting ads find the right users who have engaged with your brand in the past.
The platform boasts roughly 2.98 billion active users each month, making it the third-most visited website on the Internet. And as younger generations move onto other social media platforms, Facebook’s audience is beginning to skew towards older and more lucrative audiences.
4 retargeting strategies that can increase your conversions
STRATEGY #1: Reach back out to website visitors
WHY IT WORKS: For SaaS companies—brand awareness is everything.
Let’s keep things simple and start by remarketing to everyone who visits your website. By re-engaging with previous website visitors you’ll stay at the forefront of their mind. We’d recommend having the Facebook Pixel installed on your website, then heading over to your Facebook Business Manager to build your ad. Here, you can create a custom audience and tell Facebook who you want your ad to show to. You can either show an ad that will retarget any potential customer who visits your site or you can set up a campaign that will only retarget potential customers who visited specific pages.
STRATEGY #2: Connect with free trial users
WHY IT WORKS: Every SaaS company knows free trials are a crucial component to converting new customers.
Asking for credit card details upfront can reduce the number of free trial users who convert into paying customers. Using retargeting, you can nurture and support your prospects during their trial, gently encouraging and reminding them to convert.
STRETEGY #3: Target your gated content downloaders
WHY IT WORKS: Middle of the funnel leads need to be nurtured with value-added content or offers.
It’s frustrating when your e-books and white papers receive traffic that doesn’t convert. These middle of the funnel leads are engaging with your content, but they’re not quite ready to buy. The encouraging news is that the information your prospects have handed over can be used for retargeting. Ideally, you’ll do this by providing more value-added content, or an enticing offer (such as a free trial) to convert them into a paying customer. These strategies increase your brand awareness, and create trust in your company.
STRATEGY#4: Nurture your current customers
WHY IT WORKS: The secret to success in the SaaS world? Customer retention!
The average churn rate for SaaS companies is around 10 - 14% annually, so it makes sense to look after your current customers. One of the most effective ways to do this is by using retargeting as a retention strategy. Think: nurture, nurture, nurture!
- If you’ve just uploaded a valuable piece of content to your blog: retarget your customers so they know about it.
- If you’ve just added a new feature that’s going to make your current customer’s lives easier: retarget them and let them know.
- If you’ve just won a SaaS award: make sure your customers know about it.
To conclude
Retargeting is all about nurturing and converting your website visitors. Without retargeting, your business is missing out on a big chunk of the revenue pie. Particularly with SaaS companies, there are a lot of people who land on your website because your product can offer a solution to their problem. With a helpful nudge and a nurture, you can turn them into paying customers.
