Retargeting has become one of the most successful online advertising techniques in digital marketing, but it’s often still confusing to many agents and brokerages. The basic premise of retargeting is that it affords companies the opportunity to extract value from their website visitors, even when those visitors leave the site. This presents a way to continue the conversation and remind those visitors of their past activity. Through the use of a pixel installed on the website, ads can be targeted to the visitor, reminding them of what they looked at and encouraging them to take further action. The most common way consumers experience retargeting is when they view a retail product online and then see the ads for that same product in other places they visit. Considering that the conversion rate on real estate websites can be as low as 2.9%, according to one company’s analysis (paywall), retargeting provides an opportunity to bring that customer back.
Some real estate agents may wonder if retargeting is effective for their advertising needs and purposes. After all, purchasing a home or choosing a real estate agent is a much more important decision than buying the new shoes that have been following you around the internet. But as the automobile industry has seen, retargeting can also be a powerful tool for keeping that big purchase top of mind. While at first retargeting was a surprise to consumers, now it’s so widely used that it has changed consumer expectations — we know the information we’re looking for will be presented when we need it.
One of the most compelling things about retargeting is that it is so customizable. You can easily create specific ads for different pages of your website. Each action a visitor to your site takes can generate an ad that reflects that decision, whether it’s a listing that reminds your visitor how much they loved that particular house or an ad that invites them to get an analysis of their home’s value.
Retargeting is at its best when it’s used as part of an overall marketing strategy to build awareness — to reach people consistently, but not persistently. The goal is to always treat website visitors with respect by serving them with content that is relevant and engaging. Throughout time, whether it’s print, online, television or radio, ads have always been part of the media experience. Users expect ads, but they can also become annoyed if ads are too frequent or invasive.
Four Keys To Successful Retargeting
Know where you want to direct people. Retargeting is one-to-one communication; you are directing one particular person to take a specific next step based on past actions. Because of this, the ads should reflect a call to action that does not just duplicate the experience of being on the website, but also leads the user to take the next step of requesting more information.
Be strategic in your frequency and targeting duration. For smaller purchases, recapturing a user is about getting a quick sale. For real estate, the process is different because the timeline to purchase is typically longer. The average search for a new home is eight to 10 weeks, but buyers may informally browse websites for months. You may want to serve your ads over a longer period of time or set up ads when new information, such as a price reduction or new monthly data, is available.
Mix it up, but stay consistent. You don’t have to serve up the same ad each time. If users see the same ad too many times, it can become noise. Conversely, it’s also important for the user to clearly associate the ads with the brand and agent. Repeated use of logos, colors and fonts can make sure the ads still resonate with the viewer as being connected to the website they visited.
Retargeting doesn’t always end with first contact. For real estate agents, continued visibility is important even if the sale is over. If an existing client is visiting your webpage, it may mean they are interested in making a move or referring you to a friend.
Overall, the most important thing to keep in mind with retargeting is that each page on your website has people visiting it for different reasons. Being clear on those reasons and what actions you want those visitors to take next is essential for a successful retargeting strategy.
The best feedback we receive comes from overjoyed agents who won new clients as a result of their retargeted ads. Following that prospect online helped the agent stay top of mind in a crowded space where they may have otherwise been forgotten. That experience, which feels like magic for both the agent and the client, is at the core of the retargeting process.