Criteo, Jampp, RTBHouse, Google Ads Remarketing, SDK based remarketing, and Facebook Ads remarketing are prominent examples of many retargeting service providers out there. You might be already using one of it or all of them.
Services like Criteo, Jampp, and RTBHouse are using cost per click (CPC) cost model which is cost a lot. Prior to costly marketing spending in the next future, you want to know exactly how those money suckers can be optimized.
Optimizing Retargeting Based on User Behavior
I presume you pay on cost per click (CPC) basis, otherwise this won’t work, much.
Whichever retargeting provider you’re using they’re utilizing your data to predict user behavior to optimize particular target event, for instance, register. What is the definition of user behavior? Put it simple, recurring series of user actions before doing final action.
Based on that definition, once you know the user behavior then you can predict when they will do the final action. That’s right, you won’t need retargeting at the moment you know when they’ll do the final action, say conversion.
Retargeting might working well in the beginning, but later they’re monopolizing your organic conversion. You must stop that. You must do the following steps:
- Request data or analysis from your data team or BI about customer journey. Ask about when the first time they visited your website or installed your app, and how much time did they need until they finally converted. Your source might be from:
- Internal data;
- Analytic tools (Google Analytics, Firebase, whichever you use);
- Customer survey.
- You request to your retargeting service provider to fine tune based on your finding
Confused? Me, Too
Whichever you choose your source that’s fine as long as they represents your customer behavior. Say, you have found out that your customer typically visit the website on Monday and buy on Thursday. That’s three days gap before they finally convert organically.
Retargeting service providers know this exactly. Therefore, when Thursday comes they heavily retarget those users who visited the website on Monday. Your conversion that is supposed to be organic, is claimed by retargeting service provider just because customers click on the ad before coming to your website later. Your cost per action (CPA) looks good, but why the hell you organic with CPA?
It should be free motherfather! They eventually will convert without retargeting on Thursday!
Your job now, as a performance marketer, is to tell your retargeting partners to reduce or stop to retarget Monday’s website visitors on Thursday.
Research your customer behavior and ask your retargeting partner to fine tune the campaign manually based on your findings.
Say your daily spending on retargeting is around $1,000 and assume you can save the cost up to 20%, then after a month it will be $6,000 cost saving. Give me the money or if you are way to much greedy ask your boss for a raise.