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:
But the channel choices vary by brand size. Enterprise firms use these:
In contrast, SMBs use these channels:
The goals for retargeting include:
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.