maximising the return on your peak investment in 2021
Faced with a blank canvas and a brand-new year ahead, it’s common to reflect on last year’s achievements. Which channels drove the most conversions? Which web pages were the highest traffic drivers? Basing decisions on data over assumptions can help you plan and optimise your paid media efforts for even better success.
The peak period, in particular, is a crucial calendar event for eCommerce businesses. Often months in the planning, your yearly success can hinge on this time of year. However, as you scrutinise your peak digital marketing performance in 2020, it’s easy to lose sight of how you can get more mileage from it now and into 2021.
the role of remarketing
Research shows that only 2 percent of people convert on their first website visit. Remarketing gives you a good chance of winning back some of those lost visitors. When done right it is a sophisticated method of communicating with those who have already shown an interest in your offering. Effective at guiding users through the conversion funnel, remarketing not only reminds shoppers about your brand but also provides a logical step to conversion.
Buying behaviour fluctuates on the build-up to and during peak causing traffic spikes across Black Friday, Cyber Monday and Christmas. Many of these shoppers are in the research phase, spending their time researching products, brands and available discounts which creates rife opportunities to collect masses of customer data.
eCommerce has massively grown in popularity throughout 2020, heavily due to the impacts of the pandemic. In fact, four in five Londoners were forecasted to do their Christmas shopping online last year – a big increase since 2019 which stood at just 60 percent. With shoppers spending increased time online, more and more people are browsing but are not yet ready to make a purchase at that moment in time. Remarketing campaigns can be used to target these previous website visitors, encouraging them to return and convert when the time is right.
how to use remarketing post-peak
During the peak period, so much time and money is invested in gathering data. How can you make the most of these efforts to increase your ROI today? Using remarketing tactics, you can reengage with those who didn’t convert over peak to win more customers and generate more conversions.
sales and promotions: The new year gives way to a flood of January sales, enticing customers to return and purchase that product they didn’t receive for Christmas at a discounted price. Using remarketing campaigns, you can advertise the products individuals were previously browsing, highlighting the discounted price as an incentive to convert now.
new stock: New product announcements and season lines are a perfect opportunity to retarget shoppers who have shown interest in similar items. Whether it’s through social media launch posts or an email showcasing this season’s products, new stock is a great method of encouraging once previously interested browsers to return to your site.
leverage dynamic ads: After a user has interacted with your brand online, you have more data on their behaviours and preferences. This insight can be used to define segments and create tailored ads suited to their needs. Dynamic ads work effectively for this as they can be used to automatically adapt content for each user, ensuring they always receive the most relevant ads.
cut costs and increase roi in 2021
Maximising your ROI should be top of the list all year round. But with bigger budgets typically allocated during peak period, it’s all the more important to continue getting the most out of every penny of your peak paid media spend.
Remarketing campaigns not only help you increase conversions by inching the user closer to that precious purchase, but this marketing tactic can also reduce paid media costs. Targeting users who have clicked on a remarketing ad are eight times cheaper to reach per click and can cut cost per acquisition by almost 50 percent.
Now is the optimum time to set up remarketing campaigns and harness the valuable data from the peak period to implement high performing ads. By consistently re-engaging with those non-converting site visitors, you can encourage them to return to your website and convert. If you want to learn more about remarketing, we’ve written a blog on the topic - ‘What is remarketing and how can you use it’ - or you can contact us directly to speak more.