Digital ad retargeting is more than just a sales tool, with 71% of marketers using it to further brand awareness, according to a study by AdRoll.
The State of the Industry: Australia report, conducted by research firm Qualtrics, was commissioned to determine how retargeting is being used in the local market. The results found that brand awareness is the number one marketing objective of clients using ad retargeting, with a further 50% using the tool for customer retention.
In addition, the report found that conversions was the top campaign success metric among Australian marketers using retargeting, with insights into consumer behaviour a close second.
“Retargeting doesn't stop at reviving abandoned shopping carts - it's become an integrated part of the entire customer journey,” AdRoll MD Australian and New Zealand Ben Sharp said.
“We found that marketers have shifted the way they think about retargeting, showing that the technology is effective for multiple marketing purposes from brand building and customer retention through to new customer conversion.”
AdRoll launched downunder in February this year, and has grown from an initial team of four people to 24. Global senior director of Marketing, Jackie Lamping told AdNews that “Australia in 2014 was the fasting growing area” of growth for the AdRoll business.
She said she is expecting to see that growth continue too, with 69% of marketers intending to increase their retargeting budgets over the next 12 months. Already 41% of marketers spend 10-25% of their entire online ad budgets on retargeting. One in every two marketers are also retargeting on mobile.
Going forward, the report found that viewability tracking is likely to be a key part of retargeting with 92% of marketers finding attribution important or critical to success.
“The path the customer takes to a purchase isn't binary,” Sharp said.
“Potential customers are exposed to ads and marketing messages from multiple sources every day; phone, tablets, computers, television and on and on. It's still early days for this kind of multifaceted, cross-platform/cross-device attribution, and retargeting is one of the few technologies that works across platforms and follows the customer through their entire journey.”
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