What are Retargeting Campaigns?
Retargeting campaigns are used to remind visitors to your websites that your products and services are still around– even after they’ve left your website without making a purchase. When a visitor visits a specific product page on your site and then bounces, a retargeting campaign can be used to offer them relevant visual or copy-based ads when they visit other websites.
Typically, a retargeting campaign involves the use of pixels. Pixels are attached to advertisements on social media platforms, websites, and blogs to display relevant content to visitors. When a consumer visits your website and looks at a certain product before leaving, a pixel will show them ads for similar products from your brand shortly after they visit different websites.
Retargeting isn’t just used for pulling prospects back into the loop. The customer journey is an ongoing one– retargeting can help bring back old customers who haven’t purchased anything in a while as well as engaged prospects who haven’t committed to a conversion yet.
What are Prospecting Campaigns?
Prospecting campaigns are similar to retargeting campaigns, but have a very specific and different focus in mind. Prospecting campaigns are large campaigns that use large amounts of data and data sets in addition to content consumption. Data is collected from publishers, advertising sites, and social media accounts and are analyzed by ad platforms to find customers who are most likely to engage with a specific brand. Prospecting campaigns are less about getting immediately sales and conversions and more about performing valuable analytics for ongoing marketing purposes. If you haven’t found your target market yet, a prospecting campaign can help.
The process of prospecting is relatively simple. It starts with identifying consumers who are most likely to engage through analytics and market research. From there, the prospecting campaign will aim to build relationships with these consumers and uncover their needs. At this point, it’s crucial for marketing specialists and brands to demonstrate the value of the product. Then, it ends with closing with a compelling proposal, or losing the consumer entirely. The cycle begins again.
The Differences Between Retargeting and Prospecting Campaigns
The simplest way to describe the main difference between retargeting and prospecting is that retargeting seeks to reel back potential customers who have bounced, while prospecting seeks to find consumers most likely to become engaged customers.
Prospecting and retargeting campaigns have some similarities as well. They go hand-in-hand as marketing tools that can make a huge difference in online ad campaigns. They both offer precise targeting, greater engagement, and increased conversions as well.