This may sound crazy, especially considering the amount of effort most of us put into demand generation - but did you know that a whopping 96% of your website visitors are not ready to buy? Or in the case of Partner recruitment, they’re not ready to open partnering conversations with a Vendor?
That number can be a bit deflating. I get it. And while everything may seem “all good” on the surface so long as website visitors sign up for your newsletter or opt-in to download an asset, the truth is; just because they leave their contact information behind doesn’t mean they’ll remember you later. And worse, what happens if they never actually make that virtual handshake - are they lost completely? Ad Retargeting works to bring them back, hopefully when the timing is right.
In conversations with Vendors and Partners, this topic comes up quite a bit particularly when answering questions about Account Based Marketing because retargeting and ABM are often confused.
Let’s shed some light:
Ad retargeting also referred to as ad remarketing, is the use of display networks or social media platforms to deliver ads based on set criteria. For example, you went to a landing page but didn’t download the eBook. You may have thought you were invisible but thanks to cookies, you’re not and now suddenly that website’s ads are following you around the Internet. I’m sure you know what I’m talking about! It happens after visiting apps too. Sometimes it’s not apparent and other times it’s annoying but at the end of the day, ad retargeting has proven to be a very effective form of advertising.
For clarity, ABM and retargeting are not one in the same. Account Based Marketing is strategically marketing to a universe of one. Say for example you want to attract a particular company as a new Partner or help a Partner sell into an organization they have never done business with before. A laser-focused ABM strategy geared at decision makers and influencers within that organization will help you accomplish your goal. While retargeting can be used within an ABM campaign, it’s just one of many tactics that might make up the perfect strategy. For example, your ABM campaign might include blog content, social selling, retargeting, and direct mail all of which is custom created for that audience of one and the decision makers and influencers within that one company.
Visit All Your Account Based Marketing Questions Answered for more information and please don’t hesitate to reach out if you have questions!
Much of the confusion around ABM vs.retargeting and why many of us think they’re the same stems from another different but similar marketing term, Account Based Advertising (ABA). It’s a close cousin of ad retargeting but in ABA the ads are more specific, tailored to a company, and served to decision makers and influencers identified by job title or other criteria. This means that when a large account has a committee making buying decisions, which in B2B is the most common way it’s done, your ad will reach all, even the people who are more difficult to connect with.
A good explainer article on ABA can be found here.
Account Based Marketing and advertising, as well as retargeting, are powerful ways to reach the audiences you may otherwise miss. They’re similar to other paid and organic tactics in that they have their purpose and pair well with some campaigns more than others. The key, of course, lies in understanding how they work and play off each other to drive leads, demand, and sales. That’s where we come in!
If you want to get a jump on learning or are interested in how these strategies might help you or your Partners drive more business through the Channel, we’re here to help!