Is Retargeting the Most Under-Utilized Marketing Strategy?
Advertise.com and the Search Engine Marketing Professional Organization (SEMPO) have shared some interesting findings from a survey about online ad technology. The two organizations found that there is a lot of untapped opportunity for retargeting in online advertising.
Retargeting is basically when you market your product from a different angle or to a different market altogether. There’s a good explanation of it at answers.com: Marketing efforts to spur demand for a product that is experiencing declining demand by marketing it as though it were a new product.
Almost half (46.3%) of respondents said that remarketing (also known as retargeting) is the online marketing technology they feel is most under-utilized. Other technologies respondents feel are under utilized include:
– Geo-targeting – 18.3%
– Traffic source optimization – 15.9%
– Keyword targeting – 13.4%
– Other – 3.7%
– Category targeting – 2.4%
69.5% said they have never utilized display remarketing in their online advertising. Only 30.5% said that they had or do. Out of the ones that have, most (53.1%) said that display remarketing made their advertising more impactful.
"As online advertising continues to grow, newer technologies are recognized and evaluated against the more traditional approaches," said Daniel Yomtobian, founder and CEO of Advertise.com. "We’re interested in taking a closer look at why Remarketing is underutilized. We know that retargeting can boost ad response up to 400 percent so it’s definitely something online advertisers need to stay informed about and use more strategically."
"As the industry matures, SEMPO recognizes that new technologies and tactics, such as retargeting, will become increasingly important to the search marketer," said SEMPO President Sara Holoubek. "We look forward to a fruitful industry discussion on how search and Remarketing can best be married for maximum ROI."
81.7% of participants said they implement local search advertising campaigns and that the following forms of online advertising provide the best ROI:
– Search – 70.7%
– Cost-per-action (CPA) – 14.6%
– Email – 6.1%
– Social – 3.7%
– Other – 2.4%
52.4% utilize CPA to drive sales leads, 13.4% use it to drive traffic, 6.1% use it to drive brand awareness, and 26.8% do not utilize CPA at all. (1.2% said "other").