One of the biggest challenges marketers face is ensuring that they are getting their message out to those who are most likely to become customers. If you’re unsure whether your marketing is targeted enough, ask yourself: am I reaching my target audience across all the relevant channels? If not, you could be wasting a considerable amount of time and budget. With this in mind, here are five strategies you can implement for more segmented marketing to guarantee a return on investment (ROI).
1. Email Campaigns For Past Purchasers
Although finding new customers to target is considered a top priority, customer acquisition costs are on the rise, in fact 70% of existing businesses believe it’s cheaper to retain a customer than trying to attract new ones; so making every efforts to re-attract previous customers are essential. With 42% of people saying they would value a retailer or brand more if it remembered their purchase behaviour, it’s clear that customers are relaxed about retailers using their data, as long as it’s done in a way that offers them some value.
If you’re using email campaigns, have you considered segmenting them by those customers who have previously purchased from you? By sharing similar products that are based on their previous purchases, you will be more likely to regain their attention and achieve sales. Past purchase history also provides you the opportunity to present customers with deals and products relevant to their interests before they have to look for them, making shopping with you effortless. Amazon have targeted their email campaigns to previous customers by sharing product suggestions based on a customer’s purchase history.
2. Throw Shopping Cart Abandonment Leads Into The Mix
When a consumer reaches the final stage of confirming a purchase, but decides to abandon their shopping cart, it’s obvious there is a level of objection for an unknown reason. Shopping cart abandonment is one of the biggest obstacles for e-commerce retailers to overcome and the degree of the issue is shocking.
It is estimated that 67% of shoppers abandon their shopping carts; while $4 trillion’s worth of items were abandoned through online shopping last year – that’s a frightening number of lost sales. Furthermore, only 2% of consumers actually convert on their first visit to an online store; meaning you could have a whole target audience purely for consumers who have abandoned a potential purchase.
Retargeting is an extremely effective strategy for re-engaging with prospects and achieving sales. It provides marketers with the ability to nurture those who have added items into their basket but have subsequently decided to leave their purchase instead of completing it. Additionally, retargeting can help develop brand awareness, exposure, increase click through rates (CTR) and develop customer loyalty. They also encourage conversions as they’re personalised to each customer’s recent behaviour and preferences.
Let’s say after browsing on ASOS, a user added this pair of shoes into their shopping cart, but unfortunately decided to leave their purchase. Perhaps they were unsure about the item, or they were intending on finalising the purchase later on? Sadly, these scenarios can increase the likeliness of them forgetting to complete their purchase completely.
To encourage the potential customer to return and complete their purchase, ASOS have implemented retargeting ads across social media and news publications to advertise this particular pair of shoes (see above). Also, they have featured similar shoes to increase their chances of upselling to a single customer.
3. Custom Audiences For Social Media Advertising
If you already have access to a list of leads in your marketing database, e.g. previous customers, users who have signed up to your newsletter, or those who have simply visited your website and left, then segmenting these further will help produce more targeted adverts. These could be based on their interests, their position in the sales journey and even their location.
Once your leads have been segmented, you can start creating banner ads that appeal to these individual audiences. You can add collated email addresses to a social media network (Facebook or Twitter) and the platform will identify the users on these networks who are associated with these email addresses and show targeted ads specifically to them. The audience for your ads can be altered on Facebook by visiting Ads Manager and clicking ‘Audiences’.
4. Track From Where The Majority Of Your Leads Have Originated
If you have several touchpoints for leads to reach your business, pinpointing from which channel the majority of them are originating is essential for budget allocation and identifying if any campaigns need to be improved. For example, if you’re investing a large portion of your marketing budget into pay per click (PPC) advertising, but aren’t tracking how many leads are being generated through these campaigns, how can you conclude whether the investment was profitable?
Call tracking from suppliers such as Mediahawk completes the gap between digital advertising spend and sales. The visitor level call tracking software allocates exclusive dynamic numbers to your marketing campaigns, meaning you can analyse which channels are producing conversions for your business. The analytical data reports provided through the call tracking software will form the backbone of identifying the return on investment (ROI) for your individual marketing channels. If you discover a channel that is driving a high number of conversions, you can increase the budget into this specific channel.
5. Targeted PPC Landing Pages
When a well-designed PPC campaign isn’t converting, the landing page is usually the direct cause of the problem. Remember, your PPC ads are responsible for the initial convincing, meaning your landing page has to do the job of selling of your product or service. PPC campaigns are an incremental marketing tool for targeting specific audiences, increasing traffic, developing brand awareness and, ultimately, driving sales. However, even paid advertising can fail when used incorrectly.
Maintaining consistency with your keywords and landing pages is crucial for your target audience. If they are searching for a particular product, they will want to be provided with a compelling offer that leads them directly to what they are looking for. Failing to provide targeted PPC landing pages for your products or service could result in wasted ad spend and fewer sales.
Create dedicated PPC landing pages that are directly related to what a prospective customer is expecting to see when they click on your ad. For example, let’s say a consumer searched for ’red shoes’ and decided to click on Next’s ad. They will not want to be presented with the rest of their product offering, only the specific product which they are trying to locate.
To ensure their PPC ads are fully targeted, next have created an ad that leads directly to the red shoes category on their website. This adds personalisation to the potential customer’s journey, making them more likely to purchase from the Next website instead of a competitor. It also reduces the amount of time required from the consumer, as the need to trawl through their entire website and locate the intended product has been eliminated – consumers are becoming impatient, so targeting them with exactly what they want is essential.