“Marc Hale of TapCommerce (now owned by Twitter) says some of his company’s clients have now turned their ad strategies on their heads, spending 80 percent of their ad budget on mobile retargeting and 20 percent on new customer acquisition”.
It is so important to reach users on mobile and keep them engaged through retargeting but the reality is that advertisers get better results overall when they combine the prospecting and retargeting in the same advertising programs. We agree that moving budget into retargeting is definitely a good step but in isolation it is significantly less effective. Putting prospecting and retargeting together makes the whole greater than the sum of the parts.
We previously blogged about Quantcast Buys Struq: Why Prospecting and Retargeting Together is a No-Brainer where we explained, “even from our earliest experiments that when you combine retargeting and prospecting campaigns in the same activity you simply get 30% greater effectiveness on the overall activity—dropping CPAs and increasing ROI from nearly day one.”
Mobile Advertising Growth
A few weeks ago Convario reported on Q3:“On a global platform basis, mobile advertising continued its torrid pace in Q3 with 180% year-on-year growth and 72% growth quarter-on-quarter.” The growth of mobile advertising is only going to increase, so combing prospecting and retargeting which is not limited by device, makes a lot of sense. Recently we produced research around the topic of mobile purchasing where we found that:
- 18% of all respondents have purchased online via a smartphone or tablet in the last week.
- 27% of 25-34 year olds surveyed have purchased on a smartphone or a tablet in the last week.
These numbers would be undoubtedly higher if they included digital purchases but really show that people are buying on Mobile. Therefore, it makes sense to reach users where they are happy to purchase and this is reflected with the phenomenal growth in mobile ads. Facebook is a great place to reach mobile users, as it now boasts 703 million mobile daily active users (on average for September 2014) and by using Website Custom Audiences (WCA) you can target across browsers and devices.
What are your experiences with using prospecting and retargeting? Let us know.
If you are interested to learn more on Facebook retargeting, check out this post on how to Develop a Strategy for Facebook Newsfeed Retargeting.