Ad Retargeting Part 3: Measure success
Now that we have covered how to use your ad retargeting budget wisely and target consumers based on behavioral data rather than just demographics, it’s time to measure the success of your ad retargeting campaigns. Typically, retargeting success is determined by the number of leads directly attributed to retargeted ads as well as conversions generated as a result of retargeting efforts. However, success may be measured differently depending on circumstance. According to AdRoll, a majority of B2C marketers (57%) rank total conversions as the primary metric for success, while a majority of B2B marketers (54%) rank insights into customer behavior as the main factor. Regardless of what KPI you’re focused on improving, better tracking of the success of retargeting campaigns will lead to valuable takeaways that can be implemented down the line and to increased ROI.
When tracking potential leads, marketers should focus on converting high value prospective customers. This is accomplished through creating comprehensive segments and customer data profiles for each individual, allowing marketers to focus on each segment differently and ultimately improve performance of digital advertising investments. Retargeting in this manner will ensure that each individual within the prospective customer base receives messaging specific to his or her motives and interests. Most importantly, marketers will have the ability to hone distinctly in on key customers with high lifetime value, high propensity to convert, cart abandoners, or infrequent visitors with messaging geared toward unique actions for each group. This will lead to greater ROI and increased customer loyalty. Once identified, marketers should capitalize on these individuals by strategically retargeting to secure their interest in returning to the website and completing the transaction.
In order to confirm that the segmented, targeted messages are effectively reaching the right users, marketers should pay close attention to metrics throughout the duration of the campaign – not just at the end of it. Tracking clicks, email opens, and each interaction the consumer has with the ads on an ongoing basis will give you a much better idea of how the retargeting campaign is performing in real time, and allow you to make necessary changes mid-stream. When you do this with BlueConic, more importantly, you also get the full loop of customer insight: first party data segments that feed acquisition efforts and then link those users to their activity on site.
Once the campaign is complete, it will be important to continue tracking impressions and customer engagement in order to gain a deeper understanding of the success of the campaign, as well as learn which customers will be most valuable moving forward with subsequent retargeting campaigns and with what types of content.