In recent years, marketers have gained access to an influx of AI-driven tools and automation technology. These advancing technologies are opening new doors, especially regarding one of marketers' most precious resources: time.
Now, customers who aren't converting are less likely to become a missed opportunity, which is music to the ears of many.
Why?
On average, only 2-4% of online shopping carts convert, and while traditional retargeting techniques exist, they have drawbacks compared to automated retargeting. Plus, since the third-party cookie is set to crumble, reaching the right audience at the right time is becoming increasingly tough.
If this sounds familiar, it may be time for your team to implement more advanced retargeting techniques. By doing so, your company can regain the attention of prospective customers without draining your marketing budget — all while gaining access to game-changing, real-time data.
Ready to take your retargeting efforts to the next level? Here's what to consider.
Drawbacks of traditional retargeting techniques
If you have prospects who aren't converting, consider developing an advanced retargeting strategy. Since these potential customers have already shown interest in your brand, investing in retargeting techniques often results in a higher ROI, and when automated, you could supercharge those returns.
For years, this process relied on traditional segmentation marketing. However, this approach is often easier said than done, especially if you have not collected enough data. Traditional retargeting campaigns often rely on experimentation, which is time-consuming and costly.
So, it's no surprise that marketers are leveraging the power of AI in retargeting campaigns. These latest techniques and algorithms allow marketers to target their audience more accurately and send them more personalized recommendations.
AI and automation are the future
Those implementing machine learning techniques are enjoying the power of automation. For example, predictive modeling in marketing can now identify patterns that help predict future purchasing behavior — without much human intervention.
The time saved allows marketers to focus on bigger-picture objectives, driving accelerated growth.
Many users are already experiencing this technology without being aware of it. For example, Amazon uses AI-powered retargeting to deliver personalized advertising. The same applies to Airbnb and other well-known brands. These techniques are deeply rooted in personalization and predictive modeling — which now all brands can take advantage of, including SMBs.
These marketing automation tools and processes lean on AI algorithms to:
Profile users and segment them based on interests and behaviors. Personalized ads are automatically delivered based on tailored preferences. Unlike traditional methods, these algorithms use sentiment analysis and natural language processing to improve prediction accuracy and the effectiveness of targeted campaigns.
Automate ad placement, boosting the efficiency and cost of retargeting campaigns. Without the need for in-depth human data analysis, this delivery is optimized based on customer interactions, browsing history, demographics, etc.
Enhance precision — the rights ads are shown to the right people at the right time. Not only does this increase the likelihood of conversions, but it is also beneficial regarding one of retargeting's greatest barriers — ad fatigue. The goal is to create a better user experience by making ads more engaging and relevant.
Diving deeper into advanced retargeting techniques
Retargeting techniques are nothing new among marketers. However, methods are evolving based on the latest technologies. For example, marketers can now use deep learning techniques to analyze customer behaviors. They can then use predictive data to see who will most likely convert and prioritize retargeting campaigns accordingly.
Techniques and strategies to start focusing on today include:
- Audience segmentation with AI to automate the process of data interpretation. When you access more accurate data, your marketing spend will go much further, boosting your ROI.
- Target real shoppers — as in those who are actually shopping instead of just searching and browsing. Machine learning techniques can pinpoint shoppers who are more likely to buy. If patterns change in buying behavior, that will translate into your personalized advertising initiatives. AI will automatically alter suggestions based on changing behaviors.
- Optimizing ad spend with AI by implementing technology offered by the platforms you already use, like Meta's AI system. Sentiment analysis will continue to change the game, as you can easily tap into public opinion and your audience's expectations.
Some major players are already in the game, such as AdRoll and Criteo. These AI-driven advertising tools are designed with retargeting strategies in mind. Whether you're focusing on display ads, emails, social media, search, or mobile, these tools pave the way for marketers across all industries.
Recommended reading: Benjamin Brown | Overcoming AI Integration Challenges in Business
Ready to optimize your retargeting strategy?
While plenty of options exist to enhance your retargeting strategy, the initial process requires a hands-on, expert approach. Once implemented, you can take advantage of automated retargeting and personalized advertising — but you must first optimize your campaigns.
Those most successful moving forward will use dynamic retargeting, focusing on a multi-channel approach. The goal is to be more visible and impactful to your prospective audience while protecting your internal resources. Automation and AI in retargeting will support that goal, as will ongoing expert support.
If you're ready to expand your capabilities and boost performance, either as an agency or brand, Symphonic Digital can help. Our expert team has the knowledge and experience to implement AI-driven ad campaigns, craft compelling messaging, and supercharge your growth online.
Ready to get started? Learn more about our digital media services today!
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