For all the buzz around customer acquisition – in business articles, trade papers, LinkedIn think pieces, etc. – retention has always been a business’ true bread and butter. It’s far cheaper to retain an existing customer for repeat purchases than it is to acquire a new customer.
But for many companies, retention is a pain point, a frustrating exercise in throwing everything at the wall to see what sticks.
Could the silver bullet solution to this frustration be mobile app retargeting? In this article, let’s explore mobile app retargeting: what it is, why it’s effective and how to mobilize a winning retargeting strategy.
Mobile App Retargeting 101
Put simply, mobile app retargeting is contacting a customer who has engaged with your business previously. Like a salesperson choreographing touchpoints, mobile app retargeting involves sending relevant content, personalized promotions or simple reminders to prospective customers.
You can do this by delivering a targeted social media ad to a user who browsed your retail app; you can achieve it with a push notification informing a past customer of a current promotion; your business can send a personalized message about new stock, directly relevant to a particular consumer’s interests; you can send holiday messages, etc.
There are several ways to retarget, but each involves treating customers individually. Your goal here is to keep your business top-of-mind for consumers in a way that feels neither forced nor cookie-cutter.
How to Mobilize an Effective Retargeting Strategy
The best way to mobilize your ideas around retargeting is to collaborate with an experienced app development team.
If your business suffers from the combined effects of customer churn, shopping cart abandonment and sunken marketing costs, you may consider building a custom app from the ground up. As you build a custom mobile app, integrate a retargeting strategy relevant to your business.
Whether you retrofit your app to include a retargeting strategy or build a custom app from the ground up, make sure your retargeting campaign isn’t too aggressive. The easiest way for a retargeting campaign to backfire is to overstep –sending ads, promotions or notifications too frequently. As any good salesperson will tell you, there’s a clear line between persistence and harassment.
Why Retargeting Is Effective
Done right, mobile app retargeting is immensely effective. Some studies show that retargeting can boost conversion by 161%. Other statistics demonstrate that retargeting ads are 70% more effective than conventional banner ads at conversion. And one exciting consumer report found that retargeting on mobile drives can lead to a 100x increase in sales.
How does this simple switch in marketing achieve such impressive results? It boils down to personalization, presence and efficiency. Mobile app retargeting that leverages data and insights can recommend relevant products – rather than a one-size-fits-all advert. This level of personalization simulates the human-centric, customer-centric interactions you might find from a quality salesperson. Meanwhile, the choreography and frequency of automated mobile app retargeting help keep your business top-of-mind. Lastly, mobile app retargeting is a cost-effective alternative to traditional advertising; cost-per-clicks are lower and boast a much higher click through rate, making mobile app retargeting a more efficient advertising strategy.
If your business hasn’t considered mobile app retargeting, now’s the time. It’s a cost-effective way to engage customers, reduce shopping cart abandonment and foster customer loyalty.
