By: Sara Will | Director of Digital Marketing
Add a bid modifier to all of your existing Search and Display campaigns in order to increase visibility of your ad for users who happen to be on your remarketing list.
We generally see a 2x – 4x increase in conversion rate and 20% – 60% lower cost per conversion for the retargeted segment. In one extreme case this tactic increased total conversions by about 40% but that was likely because the buying cycle is extremely short in that space, so that’s an atypical increase in conversion volume. Typically we see better efficiency and slight scalability in conversion volume, but for the right client it can mean both.
People who’ve visited your site before are generally more valuable prospects than those who haven’t. You hopefully have dedicated remarketing campaigns set up to target those people already. If not, contact us for an audit of your campaigns.
This idea lets you easily create a supertargeted campaign by dynamically bidding more for more valuable traffic.
You need to have tracking and remarketing audiences enabled from the start so you have some idea of how much more valuable remarketed traffic is to you.
Works Best for Advertisers With
- Remarketing enabled, site properly tagged
- This bid modifier can be set at the Campaign OR Ad Group level so you can apply it at whatever level of granularity makes sense for you
- GOTCHA: Select “Bid Only” when setting this bid modifier. If you select target and bid your campaign will die off because it will ONLY show ads to people who are on the remarketing list AND also searching for a keyword in the campaign
- Run a custom report to check the efficacy of this tactic and fine tune the right level to set your bid modifier on an ongoing basis
While no single tip or tactic is going to be a silver bullet, the cumulative impact of multiple tactics can ultimately make a huge difference and help you gain a competitive advantage. Here at Closed Loop, we believe success is about doing 1000 little things right and then keep them optimized at all times to ensure optimal results. We excel at this.
If you’re spending more than $30K/mo on digital advertising and wondering if you could be getting better ROI contact us for a free audit that is guaranteed to make you think differently about your campaigns.