What retargeting campaign KPIs are important for marketers?
Today, several organizations have chosen digital platforms to run their businesses. Using an email retargeting program and remarketing techniques, they can capture new leads. With proper nurturing efforts, they can convert leads into customers. Highly strategic website retargeting enables you to convert more than 90% of potential customers who have left your website on the first visit. They have not filled out a contact form for further interactions. However, email retargeting is one of the latest tactics to let you serve display advertisements to email list users. But is your retargeting campaign successful? What is the retargeting campaign KPIs to measure success? We will discuss them in detail.
Display campaigns, including retargeting programs, are originally intended to generate new leads. You have to note that retargeting programs can provide you with a lot of other benefits. They can increase your website traffic, nurture your potential customers, raise the conversion rate, grow brand awareness, and supplement your email nurture campaigns.
Retargeting campaign KPIs- Learn about the metrics to measure the effectiveness.
You can set some metrics before starting the retargeting campaign.
Cost per lead- Lead conversions
How many leads have been converted into customers after seeing your retargeting advertisements? While some conversions directly happen inside the advertisements (in the case of in-banner ads), others are the form conversions on the landing page. You can avoid problems like landing page redirect.
The major goal is to capture new potential customers and drive more sales.
It is another metric, which is about the engagement of the available contacts with retargeting display advertisements. Nurture your contacts and convince them to become sales-ready leads.
With proper nurture touches, you can turn out high-quality leads. These leads will have a high interest in purchasing your products and services. Moreover, you will be able to find untapped leads from your contact base.
Email open rate
How many email recipients have opened your lead nurturing emails during your post-retargeting and pre-targeting campaigns?
Email retargeting programs let you supplement your offers. You can nurture email list segments that have been inactive for a long period. You can find a higher user engagement rate with this approach.
View Through Conversions
Conversions can happen when your potential customers view your display advertisements and retargeted ads. Some viewers overlook your advertisements, although they return to your website. They visit your landing page for conversions.
A view-through conversion is the KPI that is highly important for your retargeting campaign.
You may have simply counted the direct conversion rate from your advertisements. However, you have not counted view-through conversions. It prevents you from focusing on every lead generated through your campaign.
It refers to how many visitors you have driven to your website by your advertising campaign. Click-throughs from your advertisements help in measuring the site visits. You can also identify the increase in your website traffic before and after your retargeting campaign.
Retargeting programs help with a considerable hike in your web traffic. They can bring your website visitors indirectly and directly through effective brand awareness.
Say you have noticed more than 20% higher website traffic in your recent campaign. The view through website visitors can also get higher by 5%.
Marketing qualified leads
Almost known as MQLs, these leads are highly valuable to professional marketers. These leads have a higher chance of becoming your customers. However, firmographics, leads’ activities, behavior, and lead scores can make a difference. Sales professionals and the marketing team need to work together to identify these details.
You must not overlook MLQs in your list of metrics for measuring the success of the retargeting campaign. This metric enables you to find the best leads for increasing your sales rate. You will also learn the amount you have obtained from your investment in retargeting campaigns.
Time spent on your webpage
How long have visitors spent on the webpage? It is also important to measure the bounce rate. By obtaining these details, you will find it easy to detect visitors’ interest in your website and your products. However, the average time spent on your page can vary with the device used by visitors. Thus, it is one of the valuable metrics for your retargeting campaigns.
Abandon cart rate
Both female and male shoppers can think of abandoning their purchase due to shipping costs and other factors. But, the percentage of women is higher in this respect. Thus, while running your retargeting campaign, you need to ensure that there is a free shipping option. You can send an email to let your leads know about this free shipping opportunity.
In the eCommerce industry, the standard conversion rate is 1%. Thus, 4% conversion rates indicate that you are one of the top performers in the industry. While running your retargeting campaign, you need to identify your conversion rate.
Although it is not applicable to every remarketing campaign, we have included it in our lists. Businesses that offer free eBooks and corporate brochures should focus on this factor. Organizations that have promoted apps can also measure the number of downloads during retargeting campaigns. A slightly higher number of downloads is a sign of success.
These are some metrics, which give you a real insight into the retargeting campaign performance. These retargeting campaign KPIs should also be related to your business goals. Based on these metrics and the overall performance, you can take the right steps. Not every metric will match your industry and business goal. That is why you have to be careful while setting these metrics for your retargeting and remarketing campaigns.
But how will you refine your campaign performance for better output? You can visit Movology.com to find automated and advanced software for this purpose. It has presented marketers with patented software applications like Capture® and Recover®. Capture® the optimal number of leads and drive them to your website for higher sales.