What is Retargeting and How to Try It?

In the world of digital advertising, retargeting has emerged as a powerful tool for marketers to reach their target audience and improve their advertising campaigns’ effectiveness. With the growing popularity of cryptocurrencies, retargeting has become particularly relevant for crypto advertising. In this article, we will explore what retargeting is, its benefits, and how to get started.

What is Retargeting?

Retargeting, also known as remarketing, is a marketing strategy that involves showing ads to users who have previously interacted with a website or mobile app. When a user visits a website or performs a specific action, such as adding items to their shopping cart or signing up for a newsletter, a cookie or pixel is placed on their device to track their behavior. This allows advertisers to target these users with personalized ads as they browse the internet, increasing the chances of converting them into customers.

Retargeting can be done through various platforms, such as Google Ads, Facebook Ads, and other display advertising networks. It allows marketers to segment their audience based on their browsing behavior, interests, and actions taken on their website or app. For crypto advertisers, retargeting can be a valuable tool to reach potential investors, traders, or users who have shown an interest in cryptocurrencies.

Retargeting for Crypto Advertising

In recent years, cryptocurrencies have gained significant attention, and the crypto market has grown exponentially. As a result, the competition among crypto advertisers has also increased, making it important to use effective marketing strategies to stand out from the crowd. Retargeting can be particularly useful for crypto advertising due to its ability to target users who have previously engaged with crypto-related content or websites.

For example, a crypto exchange can use retargeting to show ads to users who have visited their website but did not sign up for an account. They can display personalized ads highlighting their exchange’s benefits, such as low fees or a wide range of cryptocurrencies available for trading. Similarly, a crypto wallet provider can use retargeting to target users interested in cryptocurrencies by visiting crypto news websites or reading articles about blockchain technology. They can display ads that promote the security and convenience of their wallet, encouraging users to sign up and start using their services.

Retargeting for crypto advertising can also be used to upsell or cross-sell to existing customers. For example, a crypto lending platform can use retargeting to show ads to users who have already borrowed funds from them, offering them new loan options or promotional offers. By targeting users who have already engaged with their brand, crypto advertisers can increase their chances of converting them into repeat customers or loyal users.

Benefits of Retargeting

Retargeting offers several benefits for crypto advertisers, making it a valuable addition to their marketing strategy. Some of the key benefits of retargeting include:

a) Increased Conversions: Retargeting allows advertisers to target users who have already shown an interest in their brand or product, increasing the chances of converting them into customers. Displaying personalized ads to users already familiar with the brand, retargeting can help drive higher conversion rates compared to traditional advertising methods.

b) Cost-Effective: Retargeting can be a cost-effective advertising strategy as it focuses on users who have already expressed an interest in the brand. Advertisers can optimize their ad spend by targeting users who are more likely to convert, reducing the cost per conversion and maximizing the return on investment (ROI) of their advertising campaigns.

c) Customized Messaging: Retargeting allows advertisers to create customized messaging based on users’ behavior and interests. This allows for highly personalized ads that can resonate with users and encourage them to take action. For example, a crypto advertiser can create different ad messages for users who have visited their website for the first time versus those who have already visited multiple times. They can tailor their messaging based on the user’s level of familiarity with their brand, which can lead to more effective communication and higher engagement.

d) Brand Exposure: Retargeting reinforces brand exposure by keeping the brand in front of users who have shown an interest in it. Even if users do not convert immediately, retargeting keeps the brand top of mind, increasing the likelihood of them converting in the future. This can be particularly beneficial for crypto advertisers with a longer sales cycle or need to build trust and credibility in a relatively new and evolving industry.

e) Improved Ad Performance: Retargeting can help improve overall ad performance by increasing click-through rates (CTR) and reducing bounce rates. Since retargeted ads are shown to users already familiar with the brand, they are more likely to engage with the ads and click through to the website or landing page. This can result in higher CTRs and lower bounce rates, indicating that users are more engaged and interested in the brand’s offerings.

How to Get Started with Retargeting

If you’re a crypto advertiser looking to incorporate retargeting into your marketing strategy, here are some steps to get started:

a) Define Your Goals: Before starting a retargeting campaign, defining your goals and objectives is important. What do you want to achieve with your retargeting campaign? Is it to drive conversions, increase brand exposure, or improve engagement? Defining your goals will help you create a more focused and effective retargeting campaign.

b) Set Up Tracking: To implement retargeting, you must set up tracking on your website or app. This involves placing a cookie or pixel on your site or app to track user behavior, such as page visits, actions taken, and conversions. Most retargeting platforms provide instructions on how to set up tracking, or you may need to work with a developer or marketer to ensure it’s done correctly.

c) Segment Your Audience: One key benefit of retargeting is the ability to segment your audience based on their behavior and interests. This allows you to create more personalized ads that resonate with users. For example, you can segment users who have visited your website but did not convert, users who have abandoned their shopping cart, or users who have signed up for your newsletter. By segmenting your audience, you can create customized messaging that is relevant to each segment and increase the chances of conversion.

d) Create Compelling Ads: The success of your retargeting campaign relies heavily on the quality of your ads. Create compelling ads that are visually appealing, clearly communicate your message, and include a strong call to action (CTA). Consider using dynamic ads that automatically show users the products or services they have previously been interested in, as this can increase engagement and conversions.

e) Optimize and Measure: Retargeting requires continuous optimization and measurement like any other digital marketing campaign. Monitor the performance of your retargeting ads and make adjustments as needed. Test different ad creatives, CTAs, and segmentations to identify what works best for your audience. Use analytics and tracking data to measure the success of your retargeting campaign, including metrics such as CTR, conversion rate, and return on ad spend (ROAS).

Final Words

Retargeting can be a highly effective strategy for crypto advertisers looking to optimize their digital marketing efforts. By leveraging the power of personalized ads, custom messaging, increased brand exposure, and improved ad performance, retargeting can help crypto advertisers drive conversions, build brand loyalty, and ultimately achieve their marketing goals.

The nature of the crypto industry presents unique challenges and opportunities for advertisers. Retargeting can provide a valuable solution to these challenges by allowing advertisers to stay in front of their target audience, reinforce their brand, and engage users who have shown interest in their offerings.

However, like any marketing strategy, retargeting requires careful planning, tracking, and optimization to ensure effectiveness. Advertisers should define their goals, set up tracking correctly, segment their audience, create compelling ads, and continuously measure and optimize their campaign performance.

Overall, if you’re a crypto advertiser looking to maximize your advertising efforts, retargeting can be a valuable tactic to consider. Utilizing its benefits can increase your chances of converting potential customers, strengthening your brand presence, and achieving your marketing objectives in the crypto industry.

Tanya Petrusenko

Tanya Petrusenko is the CEO at Bitmedia. She is responsible for increasing company’s revenue by identifying and developing new business opportunities as well as expanding brand presence in the market