Dynamic Remarketing 101
Is it fair to expect to convert visitors on their first visit to a website? According to Hub Spot, approximately 96% of visitors that come to a website are not ready to buy….yet[i]. For the casual browser who is looking for more information, offering the visitor relevant information to keep them on your webpage for longer could mean the difference between a conversion and a bounce.
That being said, we all know that a certain percentage of bounce is inevitable for any website out there, particularly when we are dealing with an extremely competitive landscape such as automotive marketing.
Cue the Remarketing tool.
Remarketing is a Google AdWords tool that aims to offer display advertisements to potential customers that have already visited a web site. Recently, Google has improved the process of distributing display ads, allowing users to target specific clients and target market segments who viewed specific vehicles. Google calls this “Dynamic Remarketing”.
For example, with the traditional remarketing tool, Google allows you to show standard branded ads to consumers who have previously visited your site, as they browse the web. The Dynamic Remarketing tool takes it a step further. Not only can marketers target potential customers with standard display ads, they can also show them ads with live inventory and can contain information related to a specific product. To top it off, the marketer can target specific visitor information and behaviours including everything from age, gender, to which hockey team he or she roots for – all thanks to Google’s remarketing tag.
So, what does this mean for the car dealership looking to take advantage of this new tool?
Since the potential customer you are targeting has already visited your site, dynamic remarketing may not grow the total number of your customer base, but ROI is achieved by the significant increase in conversion rate. With messages tailored to your audience, dynamic remarketing helps you build rapport in sales by bringing previous visitors back to your site to complete what they started.[ii] Metaphorically speaking, you can see it as a second chance at a relationship. Don’t call it quits early, there are no short cuts to a healthy relationship, try to work on it and nurture it, because the feelings may still be there.
Google gives us more reasons to use dynamic remarketing
- Ads that scale with your products or services: Pair your feed of products or services with dynamic ads, scaling your ads to cover your entire inventory.
- Simple, yet powerful feeds: Create a basic .csv, .tsv, .xls, or .xlsx feed. The AdWords product recommendation engine will pull products and services from your feed, determining the best mix of products for each ad based on popularity and what the visitor viewed on your site.
- High-performance layouts: AdWords predicts which dynamic ad layout is likely to perform best for the person, placement, and platform where the ad will show.
- Real-time bid optimization: With enhanced CPC and conversion optimizer, AdWords calculates the optimal bid for each impression.[iii]