A Remarketing Campaign May Double You ROI
By BHPH Marketplace staff
“Remarketing campaign” is a term you’ve probably heard before, but if you haven’t jumped aboard this proverbial bandwagon, you could be missing out. Remarketing on Google and Facebook is one of the most cost-effective ways to attract more business, and that’s a big deal in highly competitive markets like BHPH auto sales. Digital and mobile marketing are vital to remaining relevant in today’s BHPH industry. However, it’s no secret that the internet is a double-edged sword, offering great opportunities for engaging customers and capturing leads, but also offering plenty of distractions. A strong remarketing campaign is an excellent way to turn what would otherwise be lost opportunities into leads and sales.
The first question on a lot of readers’ minds may well be: exactly what is remarketing? Have you ever looked at a product on a website or discussed one on social media, then afterward seen ads appearing in your web browser? That’s remarketing at work. Also known as retargeting, this is a service that allows businesses like yours to show targeted ads to consumers who have already shown an interest visiting your website. Using Google and Facebook remarketing ads can keep your brand and product in front of consumers, encourage customers to return to your site, and turn visitors into car buyers.
More importantly, a remarketing campaign can do this at a fraction of the cost of other digital marketing strategies, and with a higher return on investment (ROI.) In fact, one source estimates that a strong retargeting strategy can double your ROI! The first reason is obvious: people who have already browsed your website clearly has an interest in purchasing buy here pay here cars. The chances that these individuals can be tempted to buy is much higher than individuals who happen to see general online ads. The second reason is, as mentioned before, the cost. Remarketing ads on both Google and Facebook have a lower cost per click than typical online ads. For example, a Google Pay Per Click campaign can cost $2 or $3 per click, while a Google remarketing campaign will often cost less than $1 per click. It’s a win-win situation for BHPH dealers.
To get the biggest bang for your buck, it’s wise to test and run at least three remarketing ads at the same time, and to include more traditional online ad targeting tools like geo-fencing. Remember that even where remarking campaigns are concerned, not all clicks are good clicks! This is especially true for BHPH auto dealers who generally rely on onsite sales. If someone on the opposite side of the U.S. clicks your ad, that doesn’t help you much. Geo-targeting and geo-fencing your remarketing ads could save you as much as 15% on your expenditure.
Remarketing ads on Facebook also have an added benefit: social proof. Your BHPH dealership can use remarketing campaigns to target not only potential customers, but happy customers who have already bought as well! This is a great strategy because customers who have had good experiences purchasing buy here pay here cars from you are likely to interact with these posts and leave positive reviews, thus not only increasing your customer satisfaction rating, but also letting customers’ Facebook friends see your ad as well. It’s another way remarketing can stretch your budget further.
It’s clear that this is one of the best methods for BHPH dealerships and related companies to benefit the most from their advertising dollars. Consider building a remarketing campaign to capture more leads and make more sales. Ensure you are working with a digital marketing company that understands retargeting– BHPH Marketplace works with Magnum Contact— so that you can reap the greatest possible profits from your campaigns. Stop losing customers when they leave your website, and start remarketing today!