Marketers often talk about the marketing funnel as if the customer journey were strictly linear. If that were the case, we could lead customers from discovering you to buying from you in just a few quick steps.
Of course, we all know that the customer journey is more complicated than that, at least most of the
time. Customers do not instantly convert the moment
they land on your page. They might not convert
even after talking to a salesperson.
It might take multiple touches at different times to get someone to finally make the leap from prospect to lead to customer. Research from Salesforce shows that it can take 6 – 8 touches to finally make a conversion.
So, what exactly should those touches be? Two of the most important ways to reach prospective clients are through prospecting and retargeting ads.
Prospecting Ads vs. Retargeting Ads
These two ad types should play distinct roles in your programmatic strategy. They each serve a specific purpose and can be beneficial for finding new leads and converting them into customers.
Someone who has the potential to turn into a customer is called a prospect, which is why prospecting is the first stage of the sales process. So, prospecting ads are aimed at the top of the marketing funnel.
These ads are focused on identifying your potential customers (i.e., prospects) who have not visited any of your digital channels. They may not be familiar with your brand at all.
You can find prospects by using your existing data to identify people likely to become customers because they have commonalities with your current customers.
Because they serve customers at the top of the funnel, prospecting ads should be informative and relatively general. They should introduce your brand and the products or services you offer.
Sometimes called remarketing, retargeting refers to advertising to people who have already engaged with your brand. This does not necessarily mean they have bought something. Instead, they know who you are and have at least some familiarity with what you’re selling.
Retargeting ads get your brand in front of people who have left your website with the goal of re-engaging them. They can be more specific than prospecting ads because the audience is already aware of your brand.
For example, you might create retargeting ads for specific products and services that display after a prospective customer has interacted with a particular part of your website.
How to Divide Resources to Maximize Results in Your Full-Funnel Marketing Strategy
Successful marketers incorporate both prospecting and retargeting ads as part of their full-funnel marketing strategy.
Exactly how to divide your prospecting and retargeting resources will depend on several factors. For example, if you only have a small retargeting pool, you might benefit from spending more resources on prospecting than retargeting.
On the other hand, if you have a larger retargeting pool, it could be more lucrative to devote more resources to people already familiar with your brand than to chase new customers.
Need Help with Ads? Let’s Talk
We know it can be challenging to figure out the right balance between prospecting and retargeting. Fortunately, we also know how to do it for different marketing teams.
Whether you are experienced with creating prospecting and retargeting ads or are new to programmatic strategy, HealthLink Dimensions can help.