Does Retargeting Work for B2B Businesses?

YRSK | Published: 18-01-21
Retargeting as a business process is gaining much significance and it is presumed that B2B businesses try this marketing practice to bring back the visitors to their website; thus increasing the opportunity to sell. Why do B2B businesses resort to retargeting? The prime reason is owing to the fact that only 8 percent or less than that of visitors to your website convert or buy your product or service.

This means about 92 percent may be interested in your product or brand, but they are not prepared to be converted or they may not be interested. 

Known for its effective use by some prominent e-retailers and airlines, retargeting can work well with B2B marketers too.

What Is Retargeting? 

An online advertising form, retargeting enables you to show the advertisement of your brand or product to the past visitors of your website on the Internet. The retargeting works like this; when the visitors who left your website move to other web portals, these sites will show the ads on the pages they visit, creating the awareness again to bring them back. Through retargeting, B2B businesses try to reach out to other businesses successfully.

How does retargeting work? A typical way of doing it is placing an invisible or unobtrusive code or pixel on your website. When someone visits your website, this code tags the visitor and lists him or her and similar others. Hence, with every new visitor, the pixel drops an unidentified bowser cookie, which will let serve an ad when the same visitor surfs the Internet. 

How B2B Marketers Can Use the Retargeting Tool? 

The B2B marketing world generally has defined and segmented audiences, with which retargeting can particularly work well. You have some type of connection with the audience for they visited your website. Being a long sales cycle, you can use this marketing tool in an unobtrusive way and keep tracking for some signals of intention. Here is how you get the best out of B2B retargeting.

1. Have Right Segmentation

Retargeting normally shows good results with larger audiences, and hence, you need to use it at least with a set size of audience in some cases. Nevertheless, you are required to have right segmentation to run an effective retargeting campaign. With a larger audience, you can have a better segmentation and serve ads that are tailor-made to their interests and behaviors. 

How do you segment your audience? It is by grouping them depending on the shared characteristics like the levels of engagement, purchasing behavior, demographic, etc. A good rule of thumb is to anticipate a stronger performance in the early stages if the retargeting pool of prospective customers is larger. Where it is not, then rework your campaign strategy to identify something that resonates better with the audience. When this matches with the data or insights you have, you will be able to define your target audience. To convert leads or guide your customers to your website again for the next step using retargeting, it is important to know your audience and customer journeys and reinforce your messages. 

2. Be Creative and Use Specific Content

People belonging to the B2B segment hardly have time to do much research on the Internet. What they look for is an easy solution like a particular term that enables them to access the website and gather all the required information before making a call. Keeping this in view, you need to be creative with your content choosing the wording, images, offer, and so on. Your ad content should be created to help get into an educational mode, wherein you teach and provide all information regarding a particular product. For instance, a lead magnet, e-book or whitepaper can be a good choice and value to your target customers. This helps improve the conversion rates.

You also need to keep in mind that an effective B2B retargeting asks for a specific, obvious and precise content. For instance, a company selling earth-moving equipment should provide adequate information about the product including the types, uses, durability, competitive features, how it works within a specific industry, pricing, offers, and so on.

3. Provide Solid Information that Includes Statistics

The business to business, unlike business to consumer, marketing is different. Most entrepreneurs or owners have built their business and brands putting in hard efforts. They make decisions only if they have enough statistics or information to support with. The decision-making with the management takes much time considering every aspect. Thenceforth, it is essential to have statistics or studies, along with relevant links, provided on the webpage to which you want to direct your retargeted visitors.

4. Have Special Offers Featuring Your Retargeting Campaign

If a company did not convert and left the page, it generally means that you are not offering what it wants and for that matter, it is looking for the similar product or service elsewhere. With purchase as an objective, its actions are related to it. In such a case, you have to go back and revisit the retarget campaign and ensure that you are communicating your deal effectively, with special offers. You need to however clearly tell that these offers are only for a short period of time because it may cause a sense of urgency and triggers ‘loss aversion’, which is a psychological phenomenon. For instance, discounts on products or services for the early buyer or for the first month can make a visitor a loyal customer.

Thus, retargeting is a powerful tool for a B2B marketer as it has the capability to reconnect with the visitors who left your website not being ready to convert.