August 29, 2013 | Written by: Joy Brazelle
Categorized: Customer Analytics | Marketing
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Retailers have long known the value of a good retargeting program. And although retargeting has been around for years, current technology allows Marketers to create highly personalized retargeting campaigns perform better than ever.
What is Retargeting?
If you’ve done any online shopping, or even browsing, chances are you’ve experienced retargeting.
Have you ever received an email for an offer from a retailer after you abandoned your cart on their website? Have you ever seen a banner ad for your favorite retailer on a news site immediately after browsing on their site? That is retargeting – using your online behavior to drive the content of an email or a banner ad to encourage you back to their website and to hopefully convert.
Tools like IBM’s AdTarget and LIVEmail syndicate web analytic data to popular ad networks and email service providers (ESPs). That data is used in display campaigns to serve up relevant ads on sites in the ad networks (AdTarget). LIVEmail syndicates shopping (and other online behavior) to the ESPs to be used to personalize campaigns – not only will it syndicate the email addresses of the cart abandoners (based on IBM’s LIVE Profile data), but it will also send which products were abandoned.
How Does This Help in the B2B World?
There are many research findings, like that of the IBM 2012 Global CMO Survey, that prove how obvious it is that we are living in the time of the Empowered Customer.
Yes, the Internet has truly empowered the customer – but the customer is no longer just the girl checking out the best prices on of a pair of noise cancelling headphones on her phone while at BestBuy. The customer is the head of Marketing at a large manufacturing company, looking to find a product to listen to what is being ‘said’ about her company on Social Media. The customer is the CIO/CTO who needs to figure out if he should upgrade his data center or move to the cloud.
The B2B world has changed significantly. B2B buyers expect to be able to find out as much information as they can on their own. And they expect to possibly even make the purchase without ever speaking with a sales person. This means that the world of B2B marketing must change, as well. More and more B2B companies understand this. They’ve updated their websites from being simply online brochures to being findable, searchable, interesting, engaging, informative, and maybe even transactional.
These companies know they must have one-to-one conversations with each prospect without ever actually picking up the phone. This is where retargeting is so perfect. It allows a company to move the virtual relationship with prospects along at the appropriate pace, with the appropriate level of relevance, and possibly even personalization.
As the B2B industry realizes how powerful retargeting is, don’t be surprised if you start to see more banner ads for more traditional B2B products like video conferencing software, marketing automation software and digital analytics.
For more information on IBM Digital Marketing Optimization, visit our landing page: IBM.com/digitalmarketing