BY AARON GREGERSON
By: Aaron Gregerson, Chief Digital Officer, MarketMatch
If you were to ask an internet-savvy consumer directly, you might get the impression that remarketing will hurt your campaign’s potential. After all, “Banner ads don’t work.” However, when asking digital marketing experts, every one of them will whole-heartedly tell you, without a doubt, that remarketing works. Remarketing is one of the most efficient and effective tools that digital marketers have in their tool kits to generate brand awareness and reinforce product marketing.
By the Numbers
According to CMO.com, not only does remarketing work, but most consumers, who like the idea of ads being directly targeted at them, also see it as a positive thing.
- 30% of consumers have a positive or very positive reaction to retargeted (remarketed) ads.
- Only 11% of consumers feel negatively about remarketed ads.
- Remarketing can boost ad response by up to 400%.
- Remarketing ads tend to enjoy higher average click-through rates than their banner ad counterparts.
The fact of the matter is that the representation of products and site visits in remarketing ads changes consumer behavior. As marketers, there is an understanding that message repetition and frequency is key to successfully converting a new consumer to your product or brand. Remarketing is the digital equivalent of being able to run a national television ad campaign during the Super Bowl – without the enormous cost tied to running those spots. What’s more, the audience is highly targeted.
In financial services, remarketing is even more critical to success than in the Amazon or Zappos retail world. Financial consumers will take longer to consider a decision before becoming a new member or purchasing a new financial product. Therefore, repetition and recall are the foundations of a dialogue that eventually brings that consumer back to your credit union.