Site And Search Retargeting Budgets On The Rise
Some 84% of marketers and agencies use site retargeting to increase revenue, 36% use it to increase site engagement, and 34% aim to raise overall brand awareness, according to a study by the Chango Retargeting Barometer, which set out to determine what marketers and agencies think of retargeting. About 58% of survey respondents said they typically work directly with the vendor for retargeting campaigns, as opposed to relying on a third-party company or agency.
According to the study, 53% of marketers and agencies intend to increase their search retargeting budgets in the next six months, while 46% of marketers and agencies intend to increase their site retargeting budgets in the next six months. No agency or marketer said they would decrease their site retargeting budget.
Aside from retargeting, many respondents said they also use display advertising, search engine marketing, mobile social video and local advertising. Some 76% use both retargeting and search engine marketing, but the percentage of those who run video advertising (59%) and mobile advertising (72%) hasn't increased since Chango released its barometer reading in Q3 2012.
About 67% of respondents now use social advertising mainly, due to increased spending on the Facebook Ad Exchange (FBX), according to the survey.
When asked what type of retargeting tactics used, 25% of survey participants pointed to email retargeting, though it involves sending an email message to consumers who did not complete the checkout process.
Not surprisingly, nearly every respondent uses site retargeting, the most common approach to retargeting. Some 92% of respondents use both site and search retargeting. Those findings are similar to last year’s results, except for the 41% that use FBX retargeting, according to the survey.
More than half of marketers surveyed plan to increase Facebook targeting budgets. In fact, 60% said they would increase their retargeting budgets on FBX in the next six months, compared with 38% who said they would stay the same and 2% who would decrease budgets.