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Search Retargeting to Conquest Competitor's Customers
by Jack Loechner, Thursday, September 13, 2012 6:15 AM
According to Chango's new “Search Retargeting Barometer, Q3 2012,” search Retargeting’ is the fastest growing form of retargeting and is used for acquisition, prospecting and
competitor conquesting, not just winning back lost visitors. To demystify the concept of Search retargeting, Chango clients featured in the report represent industries as diverse as retail,
financial services, travel, auto, education and B2B. The findings have shown that:
- 93.9% of respondents use traditional display advertising
- 93.5% of brands and
agencies that run Search retargeting campaigns also run site retargeting campaigns
- 63.6% of respondents use Search Retargeting to conquest customers from competitors
- 37.9%
of respondents cited a “lack of budget/time” as a challenge to implementing Search retargeting
- 66.7% of respondents revealed that they fund Search retargeting
from their traditional display campaigns
- 65.6% of the brands in the survey said that they typically work directly with the vendor for their retargeting campaigns
- 65.6% of
brands and agencies responded that they intend to increase their Search Retargeting budgets in the next six months
Site retargeting, which is designed to optimize an
existing audience, remains the most common approach to retargeting. Those unfamiliar with retargeting often mistakenly assume the term is synonymous with site retargeting. But the differences between
the various types of retargeting are significant. Unlike site retargeting, Search Retargeting gives brands and agencies the power to acquire new customers. Email Retargeting is based on the action of
an individual opening an email; Social Retargeting on the interconnectivity between individuals; Creative Retargeting on the action of engaging with an ad unit.
Types of Retargeting Tactics Used (In Addition To Search; % of Respondents)
Retargeting% of Respondents Site 93.5 Social 29.0 Email
25.8 Creative 25.8
Source: Chango, June 2012 93.9% of respondents use traditional display advertising, and 93.5% of brands and agencies that run
search retargeting campaigns also run site retargeting campaigns, but surprisingly 63.6% of the respondents use search retargeting, giving brands the ability to target intent, to conquest customers
from competitors.
Goals of Search RetargetingGoal% of Respondents Increase brand revenue
81.9% Increase brand awareness 42.4
Acquire new customers 93.9 Conquest customers from competitors 63.6
Source: Chango, June 2012 66.7% of respondents are
funding their search retargeting campaigns by transferring money out of their traditional display budgets. This shifting of resources indicates that brands and agencies are growing increasingly
focused on making sure that their banners are appearing before the right eyes.
Budget
Allocations for Search RetargetingFunds From:% of
Respondents New budget 45.5% SEM budget
16.2 Display 66.7
Online marketing 6.1 Other marketing 3.0
Source: Chango, June 2012 65.6% of brands and agencies revealed that they intend to increase their
search retargeting budgets in the next six months, and fewer than 10% of respondents said that they planned on decreasing their search retargeting budgets.
Anticipated Search Retargeting Budget in Next Six MonthsExpectation% of Respondents Increase 65.6 Stay the same 34.4
Decrease 9.4
Source: Chango, June 2012
Asked about the challenges of using search retargeting, 37.9% of respondents cited a “lack of budget/time." Almost a quarter of respondents also cited “integration with other marketing
initiatives” as a challenge. For
more information about Search Retargeting from Chango, please visit here.