Marketers must focus their strategies on the digital marketplace and find the right tools to make the greatest impact in this new era of digital innovation. When it comes to making a difference in your eCommerce efforts, one of the most useful tools for those looking to impact their bottom line is audience retargeting.
Many businesses focus on acquiring new customers without considering how much retention can make a difference. More than 76 percent of online shoppers abandon their carts before checking out, resulting in a significant drop in sales at a time when retention is most important. AI-powered audience targeting, with advancements in technology and data collection, can assist e-commerce marketers in converting visits to purchases and increasing customer lifetime value.
Here are some ways that AI-powered audience retargeting can help you win back customers while also increasing sales and loyalty:
- Demographic targeting:
Age, gender, net worth, and other factors all contribute to who your customers are. Determine which of these aspects you want to target and look for more customers who fit similar descriptors.
- Interest targeting:
Interest-based targeting is a powerful way to ensure that you are nurturing an audience that is truly interested in what you have to offer. Determine your audience’s interests—whether it’s sports, fashion, or food—and then target others who share those same interests. This is an excellent way to get your brand in front of customers who will appreciate your products.
- Contextual targeting:
This type of targeting ensures that your advertisements appear on relevant websites. If you own a jewelry store, for example, you can use contextual targeting to advertise your products on existing jewelry websites. This ensures that you appear in places that are relevant to your audience and feature your brand alongside content with which you want to be associated.
- Lookalike targeting:
Through this type of targeting, AI assists you in identifying people who look and act like those who are already engaged with your brand. A “lookalike audience” is a group of people who share characteristics with another group of people online. Simply put, it’s a method of reaching out to groups of people who have similar characteristics or behaviors to your existing customer base.
- Retargeting:
Retargeting is a critical tool for staying top-of-mind with people who have already engaged with your brand but need a push in the right direction to purchase. Automated retargeting campaigns close sales gaps and make a significant difference in your company.
Conclusion:
The ability of artificial intelligence to assist your business in growing is unparalleled. Use any of these powerful tools to increase brand loyalty and drive results to ensure your company is as successful as possible.
