Since most websites see only 2% of traffic converting on the first visit 1, it’s no secret retail marketers are fond of retargeting the remaining 98%. As retargeting pioneers, retail marketers have had a great deal of success in recapturing lost online sales. But non-retail and B2B marketers have been slow to adopt retargeting as a best practice. They often view retargeting as a B2C-only solution and sometimes overlook retargeting and its potential to recapture prospects.
So how can non-retail and B2B marketers harness the full potential of retargeting? The following takes a closer look at fundamental retargeting strategies and how non-retail and B2B marketers can put them into action.
Borrow the best from B2C retargeting
Retail marketers have long known that persistent retargeting is often the difference between converting a sale and losing one. But there’s another retail retargeting best practice that’s equally important: relevancy.
Since retargeting is such a cost-effective channel for extending reach and frequency, most B2C marketers take the time to personalize their retargeted banner ads. It’s a proven way to follow online visitors and remind them of their specific intent to transact or purchase. It’s also a way to break down barriers that might have gotten in the way of the initial web visit.
Nokia Location & Commerce, the world leader in navigation system maps technology, customizes each of its retargeting efforts with relevant and strategically focused messages. 
Recognizing that its web store abandon rate was relatively high, Nokia understood that the decision to purchase a navigation system update often required additional education to get prospects to convert.
Addressing this, Nokia employed brand-specific, interactive retargeted banner ads that allowed prospects to scroll through the reasons why updating would improve their driving experience. The retargeted ads included a personalized offer and let prospects know how much they were missing if they didn’t update. Message and offer relevancy were a chief reason the Nokia campaign re-engaged over 22% of its retargeted audience. And because retargeting was such a cost-effective channel, the Nokia campaign consistently achieved a 4:1 revenue-to-expense (R:E) or better.
How B2B marketers can capitalize on retargeting
While retargeting has a strong foothold in B2C marketing, few B2B marketers are maximizing its full potential. This could stem from a perception that retargeting only works in an online retail capacity. But considering a recent study by ReTargeter, B2B retargeting click-through outperforms B2C by 147% 2. ReTargeter also claims B2B conversions per click outperform B2C by 273%.
These facts may surprise some B2B marketers. But there is a chief reason why B2B retargeting can work so well. Many of today’s businesses are highly specialized and mostly garner traffic from a smaller pool of self-qualified business customers. Fewer, more qualified prospects typically lead to higher click-through and conversion rates.
Here are a few techniques to help marketers kick start their B2B retargeting efforts.
• Tailor retargeted content
• Include a retargeted offer
Unlike online retail retargeting, B2B prospects can often be engaged by offering more information. Consider using a thought leadership piece or an industry study as an incentive to re-engage. The key is to serve retargeted B2B prospects something of relevant value that aligns with their area of interest. The saying “you have to give to get” holds true with B2B retargeting.
• Redirect to a data capture page
Building on the retargeted offer, redirect retargeted prospects back to a data capture page that gives B2B prospects access to enhanced content. Since the B2B dynamic isn’t as turnkey as a typical retail purchase, capturing B2B prospect contact information is the key to a successful conversion.
When optimized, retargeting can be an extremely powerful and cost-effective tool for B2B marketers.
Sources:
1. 2013 ReTargeter, What Is Retargeting and How Does It Work?
2. 2011 ReTargeter, B2B Retargeting versus B2C Retargeting
