A complete B2B digital marketing strategy needs to account for your sales cycle, especially if it requires an extended period of time and multiple touch points with prospects. One effective tactic that can significantly reduce the time it takes to turn prospects into sales is retargeting. By focusing on users who have previously visited your website but didn't convert, your B2B business can strategically place ads on other websites to remind and entice them to return and complete the desired actions.
Understanding retargeting in the B2B context
Retargeting is different from remarketing, as it involves targeting users who have shown interest in your business by visiting your website but haven't taken the desired action. Unlike traditional advertising methods, retargeting allows you to specifically target these engaged users and tailor ads to encourage them to re-engage.
Audit your marketing to update your approach
Digital marketing has seen rapid advances in the tools and techniques available to marketers. If you haven't already begun integrating new approaches into your marketing program, now is the time. Start with an audit so you spend your time and resources building a better program, not just doing work.
Top three ways retargeting boosts B2B digital marketing success
1. Increasing brand awareness and recall
Retargeting enables B2B businesses to reinforce their brand messaging by repeatedly exposing interested prospects to their ads. By staying top-of-mind, businesses can increase brand awareness and recall, ensuring that potential clients and decision-makers remember their offerings. Additionally, retargeting can extend the reach and impact of content marketing efforts by showcasing relevant content to a highly targeted audience.
2. Nurturing prospects and accelerating the sales funnel
Retargeting is an excellent tactic for nurturing prospects and guiding them through the customer's journey. By re-engaging interested prospects with your ads, your business can keep them engaged and move them closer to conversion. Personalization is key, as it allows businesses like yours to address specific pain points and objections, providing the necessary information and motivation to take the desired action. Integrating retargeting efforts with marketing automation further enhances the effectiveness and efficiency of lead nurturing, especially when your messaging addresses progressive steps in the customer journey.
3. Maximizing ROI/ROAS and marketing budget optimization
Retargeting offers a cost-effective approach with high potential returns for your B2B business. By specifically targeting users who have already shown interest, you can optimize advertising spend by focusing on prospects who are more likely to convert. Advanced analytics and tracking capabilities allow you to measure the performance of retargeting campaigns, gain valuable insights, and make data-driven decisions to improve ROI/ROAS. Ongoing optimization based on conversion data further maximizes the effectiveness of retargeting campaigns.
Best practices for implementing retargeting in B2B digital marketing
To successfully implement retargeting as part of your B2B digital marketing strategy, consider the following best practices:
- Define clear campaign objectives and segment your target audience.
- Craft compelling, customized ads with messages that resonate with your audience.
- Set appropriate frequency caps to avoid ad fatigue and annoyance.
- Utilize advanced targeting options to reach precise audience segments.
- Conduct A/B testing and continuous optimization to improve campaign performance.
Overcoming challenges and mitigating risks in B2B retargeting
While retargeting offers significant benefits, there are challenges to consider. Ad fatigue and consumer privacy concerns can impact campaign performance, but implementing frequency caps and adhering to privacy regulations can help mitigate these risks. Audience overlap and relevance can also be managed by carefully segmenting and targeting specific audiences. Additionally, managing limited inventory and competition in the B2B space requires strategic planning and creative optimization.
Add retargeting to your B2B digital marketing program
Retargeting is an effective paid media tactic to include in any B2B digital marketing strategy, especially for businesses that rely on brand awareness or nurturing prospects to account for longer sales cycles. If you’re taking a closer look at your budget, it’s also a good tool to maximize ROI/ROAS.
Make sure you have clear objectives, messaging and ads that will resonate with your audience, and that you are constantly optimizing those ads based on performance. Workshop Digital can help you get a retargeting program up and running quickly, and we have the expertise (and time) to keep your digital marketing campaigns delivering the best possible results. Contact us today, and we can talk through some solutions that are specific to your business and goals.