AI-Powered Retargeting: How to Re-Engage Abandoned Leads and Customers
Are you struggling to re-engage with potential customers who have abandoned your website or cart? Do you want to increase your conversion rates and boost your online sales? If so, consider using AI-powered retargeting in your online marketing strategy.
AI-powered retargeting allows you to identify and target abandoned leads and customers with personalized ads that are more likely to convert them into buyers.
AI-powered retargeting is a powerful tool that can help businesses overcome one of the biggest challenges in online marketing – how to re-engage with potential customers who have abandoned their website or cart.
Why Does it Matter?
About 70% of online shoppers abandon their carts. With every 100 people who add items to their cart, and only 30 will purchase, there's a tremendous opportunity for businesses to recover these lost sales. Retargeting is an effective strategy, as it targets individuals who have already shown interest in your products or services.
Retargeting can increase website traffic by up to 200%. Retargeting website visitors who have not yet purchased can result in a remarkable surge of traffic to your website. This increase demonstrates the effectiveness of retargeting as a tool to drive traffic. Displaying ads to these visitors again can bring your products and services back to their attention, and they may be more likely to visit your website again.
Retargeting is a powerful tool that can boost conversion rates by up to 100%. By targeting individuals who have previously visited your website and expressed interest in your products or services, you can expect a significant increase in sales. Seeing your ads again can remind potential customers why they were attracted to your offerings in the first place, encouraging them to make a purchase.
Businesses are losing out on potential sales and revenue and need to find a way to re-engage with these abandoned leads and customers. This is where AI-powered retargeting comes in.
What is AI-Powered Retargeting?
Retargeting is a popular online marketing technique that targets users who have previously interacted with your website or product but have yet to convert into customers. Retargeting aims to remind these users about your brand and encourage them to return and complete their purchase.
But, unlike traditional retargeting, which simply targets anyone who has visited your website or viewed a specific product, AI-powered retargeting uses machine learning algorithms to identify and target abandoned leads and customers with personalized ads that are more likely to convert them into buyers. By analyzing a range of data points, such as the customer's browsing behavior, purchase history, and demographic information, AI-powered retargeting can deliver highly relevant and targeted ads that are more likely to resonate with the customer and encourage them to complete their purchase.
So, how does AI-powered retargeting work? Let's take a closer look.
First, AI-powered retargeting relies on data analysis to identify potential customers who have abandoned their website or cart. This data can include a range of information, such as the customer's browsing behavior, purchase history, and demographic information. By analyzing this data, AI-powered retargeting can identify patterns and trends indicating why customers abandoned their cart or left the website without purchasing.
Once the potential customers have been identified, AI-powered retargeting delivers personalized ads to them that are designed to address the reasons why they abandoned their cart or left the website. For example, suppose a customer abandoned their cart because the price was too high. In that case, AI-powered retargeting may deliver a personalized ad with a discount or coupon code to encourage them to complete their purchase.
The effectiveness of AI-powered retargeting lies in its ability to deliver highly relevant and targeted ads to potential customers. By analyzing customer behavior and preferences data, AI-powered retargeting can deliver ads more likely to resonate with the customer and encourage them to complete their purchase.
So, what are the benefits of using AI-powered retargeting in your online marketing strategy? Let's take a look.
Increased conversion rates: AI-powered retargeting has been shown to increase conversion rates significantly. By delivering personalized ads that address the customer's specific needs and preferences, AI-powered retargeting can encourage them to return and complete their purchase.
Improved ROI: AI-powered retargeting can help businesses improve their return on investment by delivering highly relevant ads that are more likely to convert potential customers into buyers. This means that companies can spend their advertising dollars more effectively and get a higher return on their investment.
Enhanced customer experience: By delivering personalized ads that address the customer's specific needs and preferences, AI-powered retargeting can drive enhanced customer experience. This can help businesses build brand loyalty and encourage customers to return.
Competitive advantage: As more businesses adopt AI-powered retargeting in their online marketing strategies, those that do not may be left behind. By implementing AI-powered retargeting, companies can gain a competitive advantage and stay ahead of the curve.
The benefits of using AI-powered retargeting in online marketing are clear. Not only can it help businesses re-engage with abandoned leads and customers, but it can also increase conversion rates and boost online sales. According to industry research, businesses that use retargeting ads are 70% more likely to convert site visitors into customers, and retargeting ads have a click-through rate that is ten times higher than regular display ads.
Re-Engaging Abandoned Leads: Use Cases
It's clear that AI-powered retargeting is instrumental in engaging abandoned leads, but it can be applied in various ways. AI-powered retargeting can increase e-commerce sales, improve subscription-based services, and enhance lead generation. Each use case highlights how businesses can leverage machine learning algorithms to deliver personalized ads to potential customers, increasing the chances of re-engaging and encouraging them to complete the desired action.
1. E-Commerce Sales
One of the most common use cases of AI-powered retargeting is in e-commerce sales. When a potential customer visits an e-commerce website but leaves without making a purchase, they become a valuable lead that can be targeted with personalized ads to encourage them to return and complete the purchase. By leveraging machine learning algorithms to analyze these leads' browsing behavior and purchase history, businesses can deliver highly personalized ads tailored to their interests and needs.
For example, suppose a lead viewed a specific product but didn't make a purchase. In that case, AI-powered retargeting can deliver ads specifically promoting that product, along with related products or offers that may interest them.
2. Subscription-based Services
Another use case of AI-powered retargeting is in subscription-based services. When a customer signs up for a subscription-based service but does not renew their subscription, they become a valuable lead that can be targeted with personalized ads to encourage them to return and renew their subscription. Businesses can deliver highly personalized ads tailored to their needs and interests by analyzing customer behavior and interactions with the service.
For example, suppose a customer frequently uses a specific service feature but doesn’t renew their subscription. In that case, you can use AI-powered retargeting to deliver ads highlighting that feature and encouraging them to return and renew their subscription.
3. Lead Generation
A third use case of AI-powered retargeting is lead generation. When a potential customer visits a website but does not fill out a form or complete the desired action, they become a valuable lead that can be targeted with personalized ads to encourage them to return and complete the action. By leveraging machine learning algorithms to analyze these leads' browsing behavior and interests, businesses can deliver highly personalized ads tailored to their needs and interests.
For example, suppose a lead was browsing a website for a specific product or service but did not fill out a form. In that case, AI-powered retargeting can deliver ads highlighting that product or service and encourage them to return and fill out the form.
The use cases presented here are just a few examples of how AI-powered retargeting can be used, and businesses in any industry can benefit from this innovative marketing technique.
Implementing AI-Powered Retargeting in Your Marketing Strategy
Implementing AI-powered retargeting in your online marketing strategy can be a game-changer for your business. By leveraging machine learning algorithms to deliver personalized ads to potential customers who have previously interacted with your brand, you can increase the chances of re-engaging them and encouraging them to complete the desired action.
So, without further ado, here's how to implement AI-powered retargeting into your online marketing strategy.
Set your goals: Before implementing AI-powered retargeting, you must set your goals. What is it that you want to achieve with your retargeting ads? Do you want to increase sales, generate leads, or improve brand awareness? Setting clear goals will help you measure the success of your retargeting campaigns and refine your strategy over time.
Analyze your data: AI-powered retargeting relies on vast data to analyze customer behavior and interactions with your brand. Therefore, it's essential to have a reliable data analytics system in place. This will enable you to identify patterns in customer behavior, such as what pages they visit, how long they stay on your website, and what products they are interested in. This data will then deliver highly personalized retargeting ads tailored to their interests and needs.
Choose your retargeting platform: Several platforms are available, each with unique features and capabilities. Choosing a platform that aligns with your business goals and budget is essential. Some popular retargeting platforms include Google Ads, Facebook Ads, and AdRoll.
Develop your retargeting campaign: Once you have chosen your retargeting platform, it's time to develop it. This involves creating compelling ad copy and visuals tailored to your target audience and aligned with your brand messaging. Setting your bid amounts and frequency caps is essential to ensure your ads are delivered to the right people at the right time.
Monitor and optimize your campaign: Monitoring and optimizing your retargeting campaign is ongoing. By analyzing the performance of your ads, you can refine your strategy over time and improve your ROI. This includes monitoring your conversion rates, click-through rates, and cost per acquisition.
With the right strategy and implementation, AI-powered retargeting can take your online marketing efforts to the next level. However, it's important to pick the right tools and platform for your business to maximize the benefits of AI-powered retargeting.
Tools and Platforms for AI-Powered Retargeting
Several tools and platforms are available for businesses looking to implement AI-powered retargeting in their marketing strategy. One such platform is HubSpot, a leading customer relationship management (CRM) software that offers a suite of marketing, sales, and customer service tools.
HubSpot's retargeting capabilities are powered by its marketing automation software, which uses machine learning algorithms to analyze customer behavior and deliver personalized ads to potential customers.
HubSpot's retargeting tools enable you to segment your audience based on their behavior, interests, and demographics. This allows you to deliver highly personalized ads tailored to their needs and interests. You can create custom audiences based on visited pages, products viewed, and engagement with your emails and social media content.
HubSpot's retargeting tools also offer dynamic ad capabilities, which allow you to deliver highly personalized ads to your target audience. For example, if a potential customer has viewed a particular product on your website, you can deliver an ad that features that product, along with related products or promotions. This ensures that your ads are relevant and engaging, increasing the chances of conversion.
HubSpot's ad management tools allow you to manage and optimize your retargeting campaigns from a single platform. You can track your ad performance, adjust your bid amounts, and set frequency caps to ensure your ads are delivered to the right people at the right time. HubSpot also integrates with popular retargeting platforms, including Facebook Ads and Google Ads, allowing you to manage all your retargeting campaigns from a single dashboard.
HubSpot's retargeting tools also integrate with its lead scoring system, which allows you to prioritize your leads based on their level of engagement and interest in your products or services. This ensures that your retargeting efforts focus on the leads most likely to convert, maximizing your ROI.
HubSpot's AI-powered retargeting tools have been a game-changer for businesses looking to optimize their online marketing strategy. With the launch of HubSpot AI, companies can take their retargeting efforts to the next level, providing more insight and intelligence to create deeper customer connections and drive conversion.
Relevance is key to driving growth in today's highly competitive online marketplace.
Companies have no choice but to rethink how they engage customers through more contextual communication, personalized experiences, and self-service options. As such, HubSpot AI's retargeting tools are designed to help businesses achieve these goals.
One of the critical features of HubSpot AI is the Content Assistant, which helps businesses ideate, create, and share content. This tool provides insights and recommendations for blog posts, marketing emails, landing pages, and prospecting emails, ensuring your content is highly relevant and engaging to your target audience.
This can help you create targeted retargeting ads that speak directly to the needs and interests of each abandoned lead.
HubSpot AI also offers Conversation Intelligence, which allows businesses to extract insights and actionable tasks from conversations across all channels. This includes call coaching, transcribing calls, and analyzing customer interactions to identify areas for improvement and optimize your retargeting efforts.
This can help you identify the pain points and concerns of abandoned leads, which you can address in your retargeting ads. For example, if several leads have expressed concerns about shipping times, you can create retargeting ads highlighting your fast and reliable shipping options.
Predictive Insights is another powerful feature of HubSpot AI, which helps businesses predict, prioritize, and recommend the subsequent best actions to take with potential customers. This includes lead scoring, which allows companies to prioritize their leads based on their level of engagement and interest in their products or services.
For example, it can help you identify which abandoned leads are most likely to convert and suggest the most effective retargeting strategies for each lead. This can save you time and resources by helping you focus your retargeting efforts where they will have the greatest impact.
Data Enrichment is another key feature of HubSpot AI, which automatically improves data quality and reduces manual work. This includes deduplication, contact enrichment, and company enrichment, ensuring your customer data is accurate and up-to-date.
This can help you ensure that your retargeting ads are delivered to the right people and that your messaging is personalized and relevant. For example, the Data Enrichment feature can help you avoid sending duplicate retargeting ads if you have multiple leads with similar contact information.
Finally, HubSpot AI offers a Conversational UI, transforming how customers interact with your CRM. This includes generating content, images, and CRM reports, making engaging with customers more personalized and meaningfully easier for businesses.
This can help you engage abandoned leads in a more conversational manner, which can increase their interest and engagement with your brand. For example, you can use the Conversational UI to ask abandoned leads questions about their interests and needs and use their responses to create personalized retargeting ads tailored to them.
HubSpot AI's retargeting tools are necessary for businesses looking to optimize their online marketing strategy. With highly advanced, HubSpot AI provides businesses with the insights and intelligence they need to create deeper customer connections, driving conversion. Whether you're a small business or a large enterprise, HubSpot AI can help you take your retargeting efforts to the next level, ensuring your business stays ahead of the competition.
Future Trends in AI-Powered Retargeting
As AI technology continues to advance, the future of AI-powered retargeting is expected to bring even more exciting developments to the world of online marketing. To help you stay ahead of the curve, we've gathered a list of trends you can expect to see in the coming years:
Increased personalization: AI-powered retargeting will continue to become more personalized to provide an even better user experience. Using machine learning to analyze consumer data, retargeting ads can be tailored to each customer's interests, needs, and behaviors. Customers are more likely to engage with retargeting ads tailored to their preferences, increasing the likelihood of conversions.
Integration with other marketing channels: In the future, AI-powered retargeting will be integrated with other marketing channels to create a more seamless customer experience. For example, retargeting ads could be synced with email marketing campaigns, social media advertising, and even voice search. This integration will provide a more cohesive and consistent message across all channels, making it easier for customers to engage with your brand.
Expansion into new platforms: AI-powered retargeting is already prevalent on popular platforms such as Facebook and Google, but it's expected to expand into new platforms such as Amazon, LinkedIn, and even virtual reality. As more and more people use these platforms, businesses will have more opportunities to re-engage with abandoned leads and customers through retargeting ads.
Emphasis on ethical AI: As AI technology becomes more advanced, there will be an increased emphasis on ethical AI practices. This means that businesses will need to ensure that their use of AI-powered retargeting is transparent and fair and respects the privacy of their customers. By doing so, companies can build trust with their customers and ensure their AI technology is effective and ethical.
- Integration with other AI technologies: Finally, AI-powered retargeting will continue integrating with other AI technologies, such as chatbots, voice assistants, and natural language processing. This integration will create a more seamless and personalized customer experience, allowing businesses to engage more naturally and conversationally with their customers.
We can also expect further advancements in individual AI tools, such as enhanced lead scoring, sales forecasting, deal prioritization, and more.
Embracing the Power of AI-Powered Retargeting for Enhanced Marketing Success
Overall, using AI in business is exciting and full of potential. By embracing these trends and staying current with the latest developments in AI technology, businesses can continue to re-engage abandoned leads and customers and drive conversions through more personalized and effective retargeting ads.
With the help of AI-powered retargeting, businesses can take their retargeting efforts to the next level by providing a more personalized and relevant experience to their audience. This can ultimately lead to higher conversion rates and increased revenue.
Whether you're looking to re-engage abandoned leads or convert website visitors into paying customers, incorporating AI-powered retargeting into your online marketing strategy is an innovative and effective way to achieve your goals.
Remember, AI is not what's next; it's what's now. If you haven't already begun to embrace AI in your marketing strategies, now is the time.