Retargeting Advertisements Putting a Dent in Your Wallet

In class, we discussed the importance of reaching your specific target audience and focusing less on mass marketing. A method that many companies are using to specifically target these audiences are through retargeting advertisements through programatic media buying.

Do you ever look up a pair of shoes, or maybe the newest iPhone and you are going back and forth on if you should spend the money on it, but then you end up deciding you are not going to purchase the item. Then, the next time you go on Facebook, there are advertisements everywhere luring you back to the web page to purchase the product. That is what retargeting is all about, serving advertisements to your target audience based on their prior experience.

Here is a diagram that explains how retargeting works:

Personally, retargeting advertisements have caused me to go through with the purchase that I was once debating. Retargeting is the most effective and cost efficient programmatic tacticits done by placing pixels on website pages that can read data, which can pick up which product youve viewed then retarget it to you on a separate webpage. Certain advertisements are made specifically for retargeting, these advertisements are called dynamic creative advertisements. Dynamic creative advertisements are done by placing pixels on website pages that can read data, which can pick up which product you have viewed then retarget it to you on a separate webpage.The timing of placing the retargeted advertisements depend on the type of product being purchased. For example, travel purchases should be retargeted immediately, higher risk luxury goods should be retargeted later to remind them of the purchase.

Retargeting has proven to be a great advantage for businesses, and a disadvantage for your wallet!

Source: adage.com, retargeter.com