If your business is experiencing a stagnant or downward trend in revenue, you might want to rethink your marketing strategy and open it up to new and past prospects.
All organizations have to constantly evolve if they want to avoid getting left behind by the competition. But you don’t need to completely overhaul your current business model to get ahead of your targets.
You can try retargeting your ad and marketing campaigns, which is much simpler and more cost-effective, if you want more sales and conversions. Even if your retargeting efforts don’t deliver the results you’re looking for, it can at least increase awareness for your brand, which you can capitalize on in the future.
Let’s take a look at how retargeting can give your business a much needed boost.
Just because you’ve already concluded your business with old clients, doesn’t mean you’re over and done with them.
Your past clients and the relationship you’ve built with them are an extremely valued asset you may have not yet tapped into.
If you’ve already established a successful business relationship before, you’ve already earned their trust, loyalty, and support. The hard work is already done, all you have to do is check back in with them again.
Your old clients might not be aware of your new services or promotions. They might not be entirely happy with their current financial advisor and are just too preoccupied to find another one.
Tweak your email campaign to include personalized messaging for past clients who are inactive. Looking for a new financial manager may not be their top priority, but maybe a gentle reminder that you’re still open for business is all that they will need to send some business your way.
It may only take something as simple as posting a heartfelt thank you message to all your old clients on social media to generate new buzz among this very valuable audience. Keeping in touch with past clients also helps increase word of mouth referrals since your business is always fresh in their minds.
Your business will see a huge boost in new conversions if you refocus your marketing efforts on new audiences and new platforms. Your brand will get more exposure and there’s always a possibility and there’s always the possibility of getting a conversion out of someone who has come across you before.
Studies have shown that roughly 60% of online users are more likely to stop and check out an ad or a link if it’s something that they’ve seen before somewhere else.
If you think about it, it actually makes sense since the idea of your brand has already been established before. You’re just reinforcing your brand into their consciousness.
If your prospective leads can see different aspects of your business from various sources, you’ll gradually gain their trust and confidence in your brand.
If you want to widen your reach, you don’t have to go all out on a full-blown retargeting campaign. No need to revamp your entire marketing strategy or put tons of effort into trying out new marketing channels. Just put a new twist on your traditional marketing efforts and put a bit more creativity into it.
You can, for example, focus on the more human and emotional side of your company or the industry to target a different demographic.
Your audience may have already gotten used to a particular tone from your brand messaging. If you switch it up every once in a while and present them with something new and exciting from time to time, there’s a higher possibility that they’ll check it out because you’re showcasing it through your messaging.
Think of it as marketing to the same exact people, but talking to a different side of them. This slight deviation in messaging and tone can put your company in a different light that your followers haven’t seen before, which helps add value to your brand. Sooner or later, if you’ve built up enough brand value in their minds, one of your prospects may turn into actual revenue for your company.
Retargeting isn’t really that complicated. It’s all about increasing brand awareness and showing the different sides of your company to a much wider audience. If your brand is getting a lot more exposure, you can slowly earn people’s trust and turn more leads into long-time clients as long as your messaging is on point.