Spending money on growing your ecommerce operations can be costly. So maybe it’s time to consider remarketing?
Unless your business prefers to conduct commercial ventures under a dark rock, you probably have some sort of website. It’s your online sales pitch and a great way to promote your services or products.
But there often comes a time when a company wants more from their website. They want to sell more, or collect information about buying habits, or want people to sign up for services.
This is when time and investment comes in. Getting heads together around a table will usually throw up the big debate: do you spend money driving more people to your site? Or do you spend it converting the people who already visit?
The red corner – more traffic
After the cost of a new website – let’s say a nice round figure of £10,000 – there is usually the cost of advertising. This figure can easily hit another £10,000 a month, especially if you’re using a vast array of advertising software with baffling systems.
The overall result being that you get more visitors, but are you converting more?
The blue corner – retargeting
So why not consider spending some of your campaign budget on visitors that are already on your site – or those that have shown an interest and left?
Industry figures predict that around £1.8 trillion will be lost in abandoned shopping carts this year alone. Meaning there is plenty of room for improvement.
If a visitor is storing items in an online cart, or beginning to fill out forms, you can reasonably assume they are interested in what you have to offer. Some may even try to buy items but get stuck somewhere in the process. By helping these visitors you will find a source of easy sales.
Help more people complete your online processes
Conversion technology can track visitors through each stage and collect information on their interests and their progress. If they abandon the site, a timely phone call, email, or SMS should be triggered to offer assistance. Employing this simple method can be both fruitful and cost-effective.
Using Optilead, conversion rates typically sit at about 21% – around 7 times more than optimistic figures expected from an email campaign alone.
Increasing your revenue
In terms of return on investment, improving conversion rates will win every time. The price of improving this figure is a fraction of the cost of even a modest advertising campaign.
Of course, when conversions begin to sit at a good rate and you have designed a smooth customer journey from landing page to checkout – you may want to start increasing traffic.
But don’t be fooled by the fanciful belief that ploughing your budget into online advertising will automatically increase your online revenue. It won’t. Having a helpful website that engages properly with the right visitors will provide your business with the solid foundations it needs to grow.
To find out more about how Optilead can increase your business revenue, please contact us.