Why is Retargeting so important for your brand?

Why is Retargeting so important for your brand?

Jan 31, 2022

An opinion piece on the impact of retargeting churned customers written by Kiswah Tariq

London, 31st January 2022

In January 2022 Graphyte released Retarget – a real-time personalised display retargeting platform tailored to the betting and gaming industry.

Graphyte Retarget enables operators to show their end users personalised sports and gaming content whilst they browse 3rd party publishers, which includes social media and online media publications – all executed via their existing display network and media plans.

But just how beneficial is retargeting for your customers? 

There have been numerous case studies evidencing the importance of retargeting across all stages of the customer lifecycle.

According to InvespCRO, a digital marketing agency specialising in conversion optimization, targeted advertising campaigns are 3x more likely to be clicked by retargeted customers than by new customers. Retargeting is an essential stage in the consumer lifecycle, as acquiring a new customer can cost five times more than retaining an existing one. Additionally, increasing customer retention by 5% can increase profits anywhere from 25%-95%.

Total Wine decided to use a retargeting platform after analyzing potential opportunities to optimize their ad spend. The company exclusively focused their strategy on CRM and abandoned cart retargeting. They also invested heavily in improved personalized creative assets for a more customized shopping experience leading to exceptional results:

  1. Revenue generated from retargeting increased 20.7% year-over-year;
  2. Lifetime ROI of 6:1 on ad spend;
  3. A huge, 50% increase in reach year-over-year.

Digital marketing agency Meazy, confirms that the conversion rate of those who visit a website after clicking on a retargeting campaign as opposed to those who aren’t retargeted can increase up to a staggering 150%. Overall conversion rates can vary based on the niche or industry you’re in but in general, ecommerce businesses report an average growth of conversion rates by 128%.

A further study by Spiralytics shows that by targeting audiences of inactive users, retargeting has proven to beat all other ad placement strategies in efficiency by a whopping 1,046%. Retargeting is one of the most effective ways in increasing engagement across users. Skai.io confirms that retargeting can lift ad engagement rates up to 400% – proving that customers interact more with the brand when targeted strategically.

But what about Gaming – is retargeting just as effective for sports and casino ads?

Betting and gaming operators have long invested huge sums into display marketing on both the acquisition and retention marketing sides, more often than not deploying broad-brush content and offers to drive acquisition campaigns, with static content for retention offers.

On the retention side in particular, a static approach to content introduces a hard limit to the effectiveness and appeal of display ads to an operator’s existing customer audience.

Through personalized ads, operators can target the same spend with pin-point accuracy, surviving their customers both content and bonus (or a happy combination of the two) offers that are 100% based on player preference. 

On the casino side, this can include resurfacing a customers favourite or recently played games to maximise engagement and click-through, whilst on the sports side, informing customers about upcoming events featuring favourite teams, players, competitions – all with live prices. The betting scope can even stretch to in play markets – the ultimate in real time targeting via 3rd party channels.

Retarget has already been deployed by one of Graphyte’s global gaming clients to surface personalised games to customers as they browse the web, with outstanding performance showing over a 70% uplift in active players vs. static since launch.

“Personalised retargeting is the norm in every other major consumer vertical; be it ecommerce, travel, finance – yet to this day, there has  been no solution for gambling operators, in spite of retargeting being such an effective retention and engagement channel. There is a niche for inspiring customers and Retarget has tactfully done so with easy integration and strategic personalized positioning” Damien Evans, Graphyte CEO.

Retargeting is a great marketing strategy to increase brand awareness, drive traffic, and improve conversion rates. 

To find out more on how Retarget could benefit you click here to book a demo with us.