What is retargeting and why is it important? In this episode, Joe and Tami talk about what retargeting is, how it plays a role in your marketing funnel, how to leverage it on your ideal clients, what it costs, some common examples of retargeting, and more!
Episode 26 Transcript:
Tami: Welcome to High Energy Marketing, a podcast with us, the digital marketing agency Ajax Union, where we interview our CEO Joe Apfelbaum, on key marketing topics and we share everything you need to know to properly grow your business online. This is a question-and-answer podcast where I ask Joe questions about different topics and trends in marketing, based off of his book, ‘High Energy Marketing’. You can get the book at ajaxunion.com/book to follow along with us.
This is the 26th official episode of our podcast about High Energy Marketing and today we’re going to discuss retargeting your ideal clients, so all about retargeting. But first, a little housekeeping. If you could subscribe, wherever you’re listening to this podcast that way you’ll get the next episode automatically, and leave a little rating and review, that would help out a lot. So moving on to the inspiration of the day. Joe, do you want to hit us with a quick inspiration minute before we get started?
Joe: Absolutely. I used to think that I was always the smartest person in the room and that was a good thing. I would constantly judge people. But really, I was judging myself. Being the smartest person in the room, you have two options, either change the room or change the way that you determine what smartest really is. If you believe that you’re always right, or that you’re always the smartest, that belief is a lack of awareness.
The smartest, most intelligent person in the room finds a way to learn from everybody and they don’t think that they’re the smartest in the room, they ask questions instead of shaming or judging other people for not being as clever. If you think everyone else is an idiot, you might be seeing them through your ego. Instead of competing with people around you, view them as an ally, to support them on your mission. You no longer need to think that you’re the smartest. It doesn’t really matter. When I’ve stopped trying to see if I’m better, smarter, faster, and I start seeing people for who they are then you start creating a whole new connection because people crave to be seen.
The best way to get people to support your purpose is to be there for them. So in today’s inspiration, I want to remind you to create a space for people in your life and watch what happens.
Tami: Amazing. Thank you so much, Joe. Today’s topic is retargeting and we have a couple of questions for you. First, what is retargeting? Can you share an example?
Joe: Retargeting or remarketing is when you are able to follow people who came to your website around on other websites. So an example is if you look at a product on Amazon, right, you go to Amazon’s website, and maybe you’re searching for a shoe. Then you leave Amazon and you don’t buy the shoe and you go somewhere else. Let’s say you go to CNN or somewhere else. Well, what ends up happening is Amazon has the ability to retarget you on those other websites to get you to come back to Amazon to buy that shoe.
Remarketing is really powerful because if you do this correctly, you can actually sell a lot more things. Here’s another example. I was looking for a Honda Pilot and ads for Honda Pilot started following me around for weeks all over the web. I did a search on my computer and people were targeting me even on my phone. So you can retarget people in many different ways.
Tami: Okay, and then why should we retarget?
Joe: Well, the reason you should retarget people is because you need to nurture your ideal clients. Once you know who your ideal clients are, you can follow them around and stay top of mind in a non-annoying way. Instead of calling people, you ever get a phone call from someone who is trying to sell you something you don’t want. Well, if you don’t want it, that’s okay. Imagine I just follow you around with an ad until you’re ready to buy.
If you have 1000 people register for a webinar, but only 200 showed up you can retarget the other 800 with banner ads inviting them to kind of watch the webinar or watch the replay of the webinar that they missed. If you have a conference and you have people who registered for the conference, you can target them to make sure that they actually show up or to make sure that they share the information about the conference on social media. When content is relevant, people will often engage and start taking action. You might think that people get annoyed if you’re retargeting them. Keep in mind that most people have no idea that an ad is an ad. They just see you on the page and then they know you exist. They think, oh, maybe they’re just advertising a lot. Most people don’t know that retargeting even is a thing. They think it’s just a coincidence that they happen to see your ads. It’s a sign from the heavens.
When you’re in the market for a Honda Pilot, you start noticing Honda Pilots, that’s just what happens. But clever marketers know that if you retarget your prospects, you’re much more likely to sell more, some more expensive things, and sell them more often. Your prospects actually want to remember and watch that webinar that they signed up for. So you’re actually doing people a service by retargeting them. One of the benefits of retargeting is that most people don’t even know and they end up clicking. You don’t even have to click but they don’t even know that they don’t have to click and if someone doesn’t click on your ad, you just got an ad for free. You just got a free billboard. Basically remarketing doesn’t really have to cost much.
Tami: Okay, so remarketing and retargeting are the same thing?
Joe: Yeah, remarketing, retargeting, it’s the same thing.
Tami: How much does retargeting cost?
Joe: So when someone clicks on the ad, there’s a fee. It’s a pay-per-click fee. Depending on the service that you use. There are different retargeting or remarketing services. If nobody clicks on it, and it’s a pay-per-click, then you’re not paying for it. You’re literally free. If someone clicks and they go to your website as a result of it, then you’ll pay a fee. It could be as little as five cents per click or 10 cents per click depending on many different factors but the key is for you to set a daily budget, a weekly budget, or a monthly budget and determine how much you want to invest in remarketing.
Tami: How do I craft a good retargeting remarketing strategy? Where in the funnel do I use retargeting tactics?
Joe: Well, you want to be able to use retargeting in every stage in the funnel. So if you’re on the top of the funnel, educating customers, and somebody comes and wants to learn the benefits of using LinkedIn, and then they leave, but they didn’t buy anything, or they didn’t watch anything, you can retarget them to be able to pull them into the second stage of the funnel, or you’re going to show them case studies. If they’re in the second stage of the funnel and they already watched the case studies, then they leave and they don’t buy anything. You can remarket them to come and get a demo.
So in every stage of the funnel, you can actually drive them further using remarketing. This is a very successful strategy that a lot of people don’t use properly and there are even remarketing strategies where you can remarket to people that touched specific services or specific products and you can create logic that will target people based on who they are based on what they did based on what they did not do. So working with a marketing agency, like Ajax Union can help you craft the right remarketing strategy for each of your products and services and for each stage in the funnel.
Tami: All right, so did that cover how to craft a good retargeting strategy?
Joe: Yeah, we talked about doing it for each stage of the funnel. We talked about doing it for different products and services and making sure that you’re doing it correctly so that you’re not sending bottom-of-the-funnel messages at the top-of-the-funnel prospects.
Tami: Uh, huh. I guess I would want more from a strategy.
Joe: So the strategy essentially is a plan. What is your plan? What do you want to achieve? If you’re trying to get people who are just learning about your industry to come back, somebody came to your website, they learned about your industry, and then you want them to come back and watch a case study. The retargeting strategy would be to target this specific audience that came and looked at this specific item, and bring them to another specific item, in this case, would be a case study. So the strategy is to kind of have them come watch the case study.
So segmenting it out correctly, having the right messaging, and making sure that you’re remarketing in a smart way is essential. One of the ways that I like to remarket, let’s say, for example, on LinkedIn, is I take all my LinkedIn connections, and then I remarket on Facebook, targeting them on Facebook, using the Facebook ad system, because I have all my LinkedIn connections’s email addresses, and with Facebook, you can target people based on their email address. So because they connect with me on LinkedIn, now they’re seeing my ads on Facebook. That’s one strategy.
There are many different strategies and strategies are custom based on your goal. So once you achieve a goal, and you have a target market, you write the right messaging, and you try to achieve a result.
Tami: Awesome. Thank you so much, Joe. That was amazing information. We hope everyone listening got as much out of this as we did.
In next week’s episode, we’ll be talking about getting referrals, so make sure to hit that subscribe button to catch the next episode. You can follow us on Instagram at @AjaxUnion and follow Joe on all social media platforms at @JoeApfelbaum and follow him on LinkedIn at Joelinkedin.com.
If you have questions, you can shoot us an email at Amazing@AjaxUnion.com.
Our music is by Michael Suarez. This podcast is produced by Sarah and Shannon. Thank you so much and we’ll catch you next time. Bye!
