Google just rolled out a new program out to all AdWords users today that will allow advertisers to target ads at “users, based on their past interactions with your website.” This new remarketing feature will have great results for advertisers when used properly.
So what exactly does this new retargeting feature do? According to Google:
“Let’s say you are an online retailer who sells printers and TVs. You can show TV ads to those people who visited the TV section, and you can cross-sell, up-sell, and promote other relevant products: surround sound systems or DVD players, for example.
Here’s how it works: You add a piece of code (remarketing tag) to pages of your site that correspond to certain categories you want to promote. For example, adding a tag for “TV” on all of the pages where you sell TVs will let you later show relevant TV ads to everyone who visits those pages.”
According to a recent report by Advertise.com and SEMPO, 70% of online marketers don’t have retargeting strategies as part of their online marketing efforts. Additionally, almost half (46.3%) of the marketers surveyed thought that retargeting was the most underutilized online marketing strategy. Fetchback, a retargeting platform, released data that shows their retargeting platform “produced huge Valentine’s Day campaign results for its clients; including 600% or higher return on investments, and Click Through Rates of 11%”. They also claim that retargeting can outperform more than 74% better than normal PPC campaigns.
So Google has entered a very untapped market here that will serve to help their bottom line, but will also help them provide better value to their advertisers. Expect this topic to start getting much more coverage across the web in the months to come.