Quantcast, a specialist in digital advertising, shows how online merchants can get more out of their digital marketing strategies by accompanying website visitors on the customer journey -winning new customers (prospecting) and binding existing ones (retargeting).
• Prior to the first website visit the prospecting takes effect. Ideally, data from the retailer is used to create a target group profile. This data is then combined with the vendor's own real-time data of the advertising service provider in order to find new potential customers and to specifically address all those that have similar demographic characteristics and behavioral patterns as the existing customers of the retailer. The basic idea of the prospecting is to address a clearly defined target group from the data to minimize wastage and to achieve a maximum conversion rate that way.
• After the website visit, it is all about persuading all those who've already been in the store to come back. Retargeting is a basic building block of retailers’ digital marketing strategy, as on average only 2% of all customers make a purchase when visiting the shopping portal the first time. The key to success is personalized retargeting that uses the audience information to create and present more relevant advertising material in real-time (so-called dynamic display ads). Basically, dealers can ensure success through proper display frequency, an appropriate categorization of URL and certification of their partner.
Obviously, it’s all about the reactivation of the customer and the long-term customer loyalty by showing existing clients certain advertising after a purchase. An individual approach is generally appreciated by existing customers and helps to increase the repurchase rate. Of course, real-time data can always be included to make advertising messages more individual and serves as well to incorporate current trends and developments in the advertising campaign.
The most current data from the customer database and website tracking should be the basis for efficient prospecting and retargeting. Retailers in particular are in this case in an excellent position, since they have the data insights. However, although their biggest challenge is not to obtain customer data, they still have to manage how to utilize and process the insights professionally.
With the help of this data, users can be systematically accompanied along the customer journey without annoying them. The data can not only be used as a source for the future marketing strategy, but be the starting point for any other sales activities.
By Daniela La Marca