In 1998, Jim Carrey starred in the film “The Truman Show,” a movie about a man whose entire life was broadcasted on television as a reality show, unbeknownst to him. The show’s creator, played by Ed Harris, had constructed a fake world for Truman, complete with actors playing the roles of his friends and family. The movie ends on both a happy and tragic note as Truman, played by Carrey, finally realizes the truth and breaks out of the manufactured reality to start a new life.
This concept of a fake, manufactured world can be easily drawn as an analogy to the world of marketing. Before television became popular, marketers focused on sponsoring sports events and other public gatherings to get their brand out there. As television became the dominant form of media, marketers shifted to TV ads, with a majority of ad expenses going towards sponsoring sports events and other televised programming.
Fast-forward to today, where a majority of the population consumes a significant amount of online content. According to a recent study done by Forbes, the average person spends 6 hours and 53 minutes per day consuming online content. With this in mind, it’s no surprise that marketers have gravitated towards online channels to reach their audience.
Staying top of mind with the customer is crucial in today’s age, and retargeting is a key strategy to achieve this. Retargeting involves displaying ads to users who have already visited a brand’s website, landing pages or shown interest in their products. This way, the brand can constantly remind the customer of their offerings and encourage them to make a purchase. Platforms like Facebook, Google, and other social media platforms play a crucial role in retargeting by collecting data on user behavior and interests, and using this information to serve relevant ads. Native ad platforms like Outbrain and Adroll also offer retargeting options by allowing brands to target users based on their browsing history and interests.
Retargeting can be an extremely effective marketing strategy when done right. A study by AdRoll found that retargeted visitors are 70% more likely to convert on a brand’s website. Retargeting allows for personalized and relevant messaging, which can increase the chances of conversion. It’s also a cost-effective method as it targets individuals who have already shown an interest in the brand, rather than a broad, untargeted audience.
However, retargeting can also backfire if not approached with care. Bombarding users with too many ads or serving irrelevant ads can lead to ad fatigue and a negative perception of the brand. It is important to strike a balance and not overdo it with the retargeting efforts.
This is where a CRM (customer relationship management) system can greatly aid retargeting efforts. A CRM system allows for efficient customer segmentation and easy audience uploads to retargeting platforms directly from the CRM. This way, businesses can target their ads to specific segments of their audience, rather than a one-size-fits-all approach.
Paramantra CRM takes this a step further by offering unique features such as seamless integration with native ad platforms and advanced customer segmentation capabilities. These features, combined with an intuitive interface, make Paramantra CRM an invaluable tool for any business looking to improve their retargeting efforts.
Effective customer segmentation is essential for successful retargeting. It allows businesses to tailor their messaging to specific groups of customers based on their characteristics. This results in more relevant and personalized messaging, which can increase the chances of conversion.
Just like Truman’s manufactured reality in “The Truman Show,” the world of marketing can sometimes feel artificial and contrived. However, with the use of strategies like retargeting and the assistance of a reliable CRM system, businesses can effectively connect with their audience and stand out in an increasingly crowded digital universe.