No matter how high your site traffic is, there’s one fact that’s hard to swallow: around 96% of your visitors are going to leave before they convert.
That’s why thinking outside the box and finding a way to get those visitors back onto your customer journey is essential. One of the best ways to do this is by remarketing or retargeting your product to them.
If you are a SaaS company don’t miss this post and learn why remarketing can help to boost your conversions and how to use this technique in the best way. Let’s start by clearing up the concepts!
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Retargeting and Remarketing
Retargeting is a marketing model that resurfaces your product around the internet after someone has visited your website, in other words, you tag a website visitor, and after they leave, your product will be retargeted to them across different platforms around the web. By using it, businesses give themselves a chance to nurture and entice a potential customer back to their website to buy their product.
Actually, retargeting and remarketing is the same, the controversy is due to the fact that this technique has been known as retargeting among online professionals (especially in the Anglo-Saxon world), but Google prefers to call it remarketing.
A study by GrowthBadger found SaaS brands like Zendesk were using remarketing as one of the core ways to boost their conversions. The brand achieved a 1,317% ROI on their spend by using remarketing.
The main advantage of remarketing is that it increases your customer touchpoints. For SaaS companies, a customer typically makes between five to seven touches on their customer journey before they make a purchasing decision. That means that getting your product in front of a customer as many times as possible is likely to increase those touches. In turn, this increases your chances of conversion. However, if the remarketing campaign isn’t targeted correctly, it may have the opposite effect.
To get the most out of retargeting customers, companies need to build a strategy, make retargeting part of their marketing game and make it a recurring cycle. The key to remarketing is to build smarter campaigns. Use channels that make sense for your SaaS product, target your customers based on an end goal, and phase out your ads if they don’t convert on a specific time-scale.
One of the biggest marketplace for remarketing is Google Display Network (GDN) if you remarket your product through it, site visitors who bounced will be shown your ads across thousands of sites all across the web (YouTube, Gmail, Apps, Display Network, Remarketing Search Listings Ads).
Let’s dive into 4 ways you can use retargeting to boost your website traffic and increase your conversions.
4 Ways to use retargeting in SaaS companies
1. Reach back out to website visitors
The easiest way to get a retargeting campaign off the ground is to remarket to everyone who visits your website. By retargeting all your previous website visitors, you can stay at the top of their minds and entice them back to your site. The reason this strategy works, even in its simplest form, is because brand awareness is everything for SaaS companies.
By doing this, you can offer discounted offers and codes to potential customers who visited your pricing page but didn’t quite convert.
2. Connect with free trial users who didn’t convert
Every SaaS company knows free trials are a crucial part of their marketing stack to convert new customers. Using retargeting, you can turn all of this around through nurturing and supporting the prospect during their trial and encouraging them to convert by:
- Reminding them that their free trial is about to end.
- Offer them a limited-time discount if they sign up to your product before their trial ends
- Offer an extension on their trial if they aren’t sure if the product is a good fit yet.
By offering a time-sensitive discount, the potential customer that’s being retargeted will be more likely to think about signing up so they don’t miss out. But if you’re asking for a credit card upfront, you might be killing your chances of converting them.
3. Target your gated content downloaders
It’s frustrating when your gated content like e-books or white papers receive a ton of traffic, but hardly any of it converts into paying customers. But the good news is, you can use the information a prospect hands over to access your gated content to retarget them. This prospect is what we call a MOFU lead: they’re in the middle of your sales funnel. They’re engaging with your content, but they’re not quite ready to buy.
These prospects need to be nurtured with engaging, value-added content and an enticing offer to convert them into a paying customer. You could retarget them with ads that offer either a free trial or a discount off of your regular product subscription. This makes it easier for the potential prospect to recognize your brand, and it creates trust in your offer.
4. Nurture your current customers
The secret sauce to succeeding in the SaaS world is Customer retention. Looking after your current customers makes sense. The average SaaS business loses about 10% of its revenue to churn each year, and a report by McKinsey found SaaS businesses with a monthly churn rate of over 2% is a warning sign that the company is in trouble.
One of the best ways to avoid churn is through nurturing, and you can use retargeting as a customer retention strategy:
- If you’ve just uploaded a valuable piece of content to your blog: retarget your customers so they know about it.
- If you’ve just added a new feature that’s going to make your current customer’s lives easier: retarget them and let them know.
- If you’ve just won a SaaS award: make sure your customers know about it.
If you’re not already retargeting your website visitors, your SaaS business is missing out on a big chunk of the revenue pie, SaaS is made for retargeting. A lot of people who land on your website have already thought about your product as a solution to their problem, but they just need a little nudge to become a paying customer and that’s what makes retargeting perfect!
If you want to build your own SaaS retargeting machine contact a specialized agency like Nementio. We are willing to help you with your marketing strategy!
