When analyzing the work that we’ve done in the financial industry, one thing is clear; if you’re not remarketing to your customers or potential new members, you are missing out on a huge source of income. When it comes to loan products, credit card offers, and even membership account signups, buyers very rarely make a purchase on their first visit to your site. In fact, according to our research, a clear majority of these potential clients don’t pull the trigger until the 4th visit.
So what does this mean for your Credit Union?
Well, if you’re spending money on marketing campaigns and not instantly funneling your leads into a remarketing campaign, you are probably wasting a lot of advertising dollars, and you’re definitely missing out on a huge opportunity to close the sale.
Unfortunately, most marketing agencies fail to understand the importance of remarketing. They pour countless dollars – your dollars – into campaigns that may drive traffic to your site, but rarely result in a closed deal. That’s because, as we talked about above, most people are not filling out your applications until the fourth visit.
But what about people who never return after the first visit?
Well, that’s a huge problem; especially when you consider the fact that most financial sites are converting less than 2% of the people who land on their pages.
Here you are pouring huge amounts of money into radio ads, digital campaigns, and mailers only to find out that most of these people who actually take action on your ad are probably only going to hit your site once; then they’re gone, never to be seen or heard from again.
You spent all of this money, and 98% of the people are now looking somewhere else.
Converting more of your Traffic with Retargeting Campaigns
So what do you do? Do you continue pouring money into ads that aren’t converting?
Well, if you really want to convert more traffic, and you want to ensure your marketing dollars are being spent on converting potential customers, you need to invest in your analytics, your customer management systems, and most importantly your remarketing efforts.
What exactly is Remarketing?
Remarketing works by adding code to your website that will instantly tag everyone who lands on your site so that you can identify who they are, where they came from, what products they are interested in, and then seamlessly and automatically place them into your remarketing funnel.
Once a user hits your landing page, your analytics and customer management system automatically places that user into a product list and will then start serving them targeted ads everywhere they go online.
No more guessing, no more hoping they are going to see your message, just rock solid converting campaigns that target people who are in the market for your product.
They log into Facebook; there’s your ad
They search Google or another search engine for an auto loan, credit card or mortgage; there’s your paid search ad specifically targeting that customer with the product they need.
They start browsing their favorite sites on the internet; again, there is your display ad on the sidebar of that site targeting that specific user.
Is your Credit Union Remarketing?
If you’re with an agency who is pouring huge amounts of money into campaigns with no real accountability, no way to track potential leads, and no plan to remarket to the people who are hearing or seeing your ads, you need to ask yourself exactly what that agency is really doing for you.
With the above data in mind, you need to start optimizing your campaigns for multi-visit conversions. If you are just getting started with remarketing or have questions about setting up your web analytics and building data-driven smart campaigns, feel free to give us a call at 702-487-5270.
Richardson Marketing | A High Impact Marketing Company
PH: (702) 487-5270