Good work needs the right tool. Only with the right tools can you evolve and create a better product. DIY stores can find new ways to reach their customers with personalized retargeting.
The well-known hardware store companies have worked hard to gain strong brand awareness and establish themselves online. But to maintain their position, they must continue to build customer loyalty. Evidence of this is the increase in customer purchase frequency over time.
In addition, keeping them is five times easier than acquiring new customers. With personalization and cutting-edge technology, it becomes easier to keep customers online and build a base of loyal customers, focusing on the customer group of professional craftsmen.
DIY stores should take the most critical requirements into account when using retargeting.
The pandemic has driven digitization across all industries. Here, many companies shifted their focus to the online and mobile business, not without reason. The sectors related to home and garden construction are no exception.
Global e-commerce sales, in general, have increased by 20 percent over the past two years. Companies reacted quickly and expanded their digital capabilities. They integrated omnichannel business models that allow them to reach customers across multiple channels.
But the pandemic has not only opened up new opportunities for companies. The increased digital offer offers customers who spend more time at home due to hybrid working and the pandemic the ideal opportunity to turn to DIY, renovation, and the garden.
In the pandemic from 2019 to 2021, Germany’s DIY market and home improvement industry managed to almost double online sales. Now that the Corona-related restrictions have been lifted, it is essential to maintain the positive momentum. But how can we continue to inspire customers to do DIY?
For all businesses, the cost of acquiring new customers is high. According to Salesforce, the average user goes through six to eight touchpoints before becoming a customer. Eighty percent of online visitors leave the website without making a purchase.
The most significant benefit of retargeting for a business is to stay top of mind as a brand in the minds of website visitors. In this way, finding and addressing very valuable, undecided customers can be possible.
Retargeting is a precise and flexible tool whose efficiency and effectiveness can be measured using ROI metrics. Businesses can calibrate their campaigns to meet their business goals, whether it is about product groups, specific user groups, or channels a brand wants to use.
By enabling detailed retargeting, sub-campaigns can significantly increase results.Home and garden centers want to increase their AOV (average value). One possibility for this is, for example, the sale of supplementary products and services.
By using retargeting with deep learning-powered recommendations, they can go beyond the apparent customer connections to reach more pro-service customers and cross-sell new customers into the space.
Companies need powerful retargeting functions to satisfy the very different needs of spontaneous, regular, or frequent buyers and increase their online customer journey and ROPO sales (Research Online, Purchase Offline).
Only then will it be possible to make personalized content available to a user and to offer the customer recommendations such as personal advice in brick-and-mortar retail. All this can be done using 1st-party data (voluntarily and intentionally provided by users).
For example, online and app campaigns can have different goals but the same marketing message. The same brand feels, and user experience must permeate seamlessly across all devices and forms of communication.
The right retargeting partner can help extract valuable insights from this data for better insight into the entire funnel’s nuances. With this knowledge, registered users who have not yet made a purchase, customers with a high risk of churn, and essential but inactive customers can be (re)activated.
For example, the surge in online activity during the pandemic, when over 65 percent of customers exhibited new shopping behaviors, has resulted in a veritable cornucopia of utility data.
Hardware store companies should be aware of the following requirements when it comes to retargeting:
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