With the holiday season upon us, we all expect our site traffic to spike. Forrester states that online sales will soar this holiday season, coming in at $89 Billion, a 13% increase over last year. And one of the best tools to take advantage of this spike is retargeting. The question then arises, how can I use retargeting to reach these visitors and maximize my potential revenue? We have two choices, invest more in our campaigns or conduct smarter more efficient retargeting. This was the premise of the webinar I hosted last week with JF Houpert, Director of RTB Performance at AdGear.
To review the slides from the webinar click here.
The consumer dollar has shifted online
eMarketer forecasts that B2C ecommerce sales worldwide will reach $1,471 trillion in 2014, a 20% increase. American and Canadian consumers will remain the leading region accounting for around one third of the dollars spent on digital purchases worldwide. As a result, digital marketers are spending more than ever to reach this new legion of online consumers. According to eMarketer, total spending on US digital advertising in 2014 will reach $51B and 44% of that spend, the equivalent of $22B, represents US display advertising. It’s no surprise that a large proportion of this advertising pie is being poured into retargeting to help them stay top of mind especially during the holiday season.
The cost of getting it wrong increases during the holiday season
We all know that retargeting delivers, however in the hyper competitive holiday season, the cost of getting it wrong is particularly expensive. The question then arises, how can I be more efficient with my retargeting budget?
This is a challenge that iperceptions is addressing. Today, many retargeting technologies claim to leverage intent. In fact, they are using common visitor behavioral traits to infer intent. What does this mean? In simple terms, it means using behavioral cues, such as a visit to the cart, to make an educated guess about the visitor’s intent. They are forgetting that behavior is ultimately a product of a thought process that begins with a visitor’s intent. During the webinar, I reviewed the challenges of relying solely on behavior to execute retargeting campaigns and how it impacts their relevance and performance.
First party data is king
I also touched on the importance of first party data to drive more relevant and efficient retargeting campaigns. First party data is your data, it’s a strong signal, it’s the most valuable and of the highest quality. Acting on first party data should be a priority for every company.
One of the most valuable first party data sources available is customer feedback. Customer feedback is often siloed from marketing technologies in the form of experience and satisfaction reports however at iperceptions, we are changing the way companies leverage customer feedback.
Today with iperceptions Active Recognition for Retargeting, first party customer feedback is leveraged in real-time to create more relevant and engaging campaigns. iperceptions’ Active Recognition patent pending technology, is a game changer. It evolves market research from its traditional role of explaining customers past experiences, to recognizing immediate customers intentions.
Recognizing Visitor Intent In Real-Time Improves Retargeting Performance
I invite you to review the slides from “iperceptions & AdGear Present: Retargeting 2.0 - How Recognizing Visitor Intent In Real-Time Improves Retargeting Performance" below.