Remarketing Delivers Customer Insight, Shortened Sales Cycles
Posted: October 14, 2010 | Amanda Fildes
The concept of remarketing first began and delivered on the promise of targeted relevancy. Retailers captured what products a customer browsed while shopping online and then used digital media to remarket those same or similar items across third-party websites, encouraging customers to complete purchase.
And now that the approach is proven and more retailers have adopted the approach, integrating it into their cross-selling and up-selling strategy, the new realization is coming to light, that remarketing not only presents customers with a second chance opportunity to purchase, but it also reduces the overall sales cycle.
Prior to the evolution of remarketing, sales cycles tended to be long, fragmented, and were often unable to be accurately measured. Tracking the cycle was guess work at best, and offline and online customer behavior was loosely stitched together, leaving retailers with a wealth of data but no real insight into what actually was successfully driving the sale or what the actual number of interactions and total time from awareness to purchase was.
Remarketing is now offering the ultimate outcome in customer insights. Know the product your customer is interested in. Know the number of interactions required to connect the product to the customer. And know the typical amount of time it takes to present the interactions to the customer in order to successfully lead the customer to purchase. The result is more then just relevancy and preference for the customer. The result is better overall spend of marketing budgets, decreased cost of marketing, and increased profitability for the business – a truly remarkable outcome for retailers that invest in remarketing.
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