Facobook/Instagram and Google are the top channels for retargeting, but email comes in third, according to The 2021 Outlook on Retargeting, a study from SharpSpring Ads, conducted in partnership
with Ascend2.
And the channels apparently are working, to some degree. Of the brands polled, 36% report they are very successful at retargeting, or best in class, versus 58% that are
somewhat so. Only 6% say they are somewhat unsuccessful.
In general, the channels most used for retargeting are:
- Facebook/Instagram advertising — 77%
- Google advertising — 69%
- Email —
55%.
- Twitter advertising — 44%
- Linkedin advertising — 35%
- Lead generation — 31%
- Other paid advertising channels — 29%
But the channel choices vary by brand size. Enterprise firms use these:
- Social —
73%
- Search — 39%
- Mobile — 47%
- Video —
58%
- Display — 41%
In contrast, SMBs use these channels:
- Social —
80’%
- Search — 60%
- Mobile — 47%
- Video —
27%
- Display — 27%
The goals for retargeting include:
- Brand awareness — 57%
- Driving sales — 57%
- Customer retention — 55%
- Lead generation — 37%
- Community building — 27%
- Lead nurturing — 24%
- Message/offer testing — 16%
But this
varies by sector. B2B marketers use retargarting for brand awareness (58%) and to a lesser extent, for driving sales (44%). In contrast, B2C marketers cite customer retention (66%) and driving
sales (64%).
The top challenges for SMBs are attribution (47%) and budget (33%). Enterprise companies cite privacy (43) and ad fraud (38%).
In another variance,
B2B respondents list resources (38%) and brand image (36%) among their top retargeting challenges. But B2C respondents specify ad fraud (43%) and attribution (37%).
The
report cites research showing that 70% of retargeted prospects are likely to convert, versus 2% on first visit.
What are brands looking for in a retargeting solution? Of the
sample, 45% seek access to the desired audiences.
Ascend2 surveyed 176 marketing professionals with retargeting budgets of more than $2,000 per month.