I was talking to a guy the other day who sells online coffins, and if you’re buying a coffin online you’ve got a fairly fixed time frame in which you need to buy that product. And most people buy from him within a couple of hours of first visiting the site, at which point remarketing isn’t going to work very well.
Similarly, I suppose, anything that’s a very easy decision to make, you know, it’s a commodity purchase, then there’s not going to be a huge benefit. But anything where people are making that decision making process, or a high level of repeat buyers.
So we’ve got a fashion client, they’ve got a number of clients coming back to their site every month or two because the lines have changed, the fashions have changed, they’ve got new line items to sell, so we’re able to constantly, very, very cheaply, get in front of previous visitors, show them all the new stuff, and wait for them to come back to the site that way.
And the benefit of this obviously being because it’s within your Adwords account, that you can choose to pay only per click.
So it’s not like typical media where you’re doing this on a CPM basis or a cost per thousand view basis, we’re still doing this on a CPC basis, cost per click, so if only one in a hundred people are clicking on your banners, if only one in a thousand are clicking on your ads, it’s practically free branding the rest of the time.
How hard is it?
James: And is this difficult to set up, or do you have to get a professional to help?
Mike: I’d say there’s two parts to it. There’s the strategy and there’s the tactics. The tactics are very easy. Once you know what to do, pressing the right buttons inside of Adwords is very simple. And I get to share more of that at the conference.
Getting the strategy right, getting the thinking right, going after the right people at the right time with the right message, that’s the bit that’s probably a bit harder and requires more of a marketing brain.
James: Yup. OK, so it’s probably a little bit like Adwords. Simple to get started, but more difficult to master.
James: It keeps guys like you fully employed.
James: So you run a website, WebSavvy.com.au .
James: And you provide services for Google Adwords and remarketing, you’ve been helping me with my own customers and my own account, so thank you for that.
Mike: You’re welcome.
James: And you’re going to come, well, you’ve got some information that’s going into your SuperFastBusiness presentation, which will be available to people who attend the live event or access the recordings from our membership.
Mike: Yeah, and I’d really want to get stuck in there, to the really advanced stuff. So we’ve probably gone from Remarketing 101 to 301.
I’m going to get stuck into 401, 501, the really advanced stuff, using Google Analytics remarketing to get a much, much better handle on who’s seeing the different types of ads that you choose to show. It’s fun stuff.
Leveraging different behaviors
James: Well, as I’ve been building a super site here at SuperFastBusiness.com, I have been spending a lot more time in analytics, because it’s amazing how you can set up good dashboards to find out which content is converting the best, what stuff people are arriving at the site for, how long they stay, what they view…
It’s fascinating to see the behaviors, and I’m sure if you can link that to advertising, that’s going to be very effective.
Mike: I’ll give you a very, very simple example. I’ve got an e-commerce client, and we’ve just been doing some analytics segmenting for them, and we found that people that spend over six minutes on their site.
So I’m talking, for this particular site, and the time frame we looked at, I think off the top of my head, the number was something like 118,000 users, that was people that had spent over six minutes on a visit in the past month.
That’s 118,000 visitors, which for them was like 20, 23 percent, I think, of the total traffic. But there were only 7,000 people that had purchased.
But as a whole, that 23 percent of traffic accounts for about 95 percent of the revenue for that site. So there’s a lot of people there that have shown significant interest in the product, most of whom have not bought yet.
But as a whole, that group is a group of people that, well, this is definitely someone we want to get back in front of. They’ve spent a long time on the site, they’ve shown significant interest, but they haven’t quite gone over the line yet. But that’s a group that’s responsible for almost all of our revenue.
Now, conversely, let’s just go super advanced for a second. There’s a group of people that will spend less than 30 seconds on the site. You’ve got the same. Every website’s got the same.
There’s this group that have shown significantly less interest than everybody. And simply by not showing remarketing ads and potentially not showing ads in other campaigns to that group of not at all interested people, we can dramatically improve the results of our remarketing across the board.
So by excluding that list of uninterested people, if you like, we can dramatically improve remarketing results, and I’ll share some of those results and case studies at the event.
James: Excellent. Sounds like a bit of cohort analysis.
Mike: There’s a little bit of that.
James: Tracking people all the way through the funnel like a trace dye.
If you could ask this…
James: It would be good if you could find out from the people who did buy what led them to buy and then to re-engineer that into your remarketing.
Mike: I have seen a couple of those recently where there’ve been post sale but also post abandonment surveys, so “What caused you to buy today?” or for the buyers, “What almost stopped you from buying?”
And then if you can get in front of them, but obviously people that are quitting your site are generally quitting for a reason and they don’t usually hang around to fill out a survey, but if you can get in front of those people, “What prevented you from buying today?”
But I think that one for buyers, “What almost stopped you buying from us today?” that’s a pretty interesting one to trial, I would think.
James: It’s a nice one, and I guess in this case… and it was mentioned by Greg Cassar, he mentioned a tool called Kampyle, which is really good for surveying on e-commerce stores, we did a conversions podcast once.
And he’s also going to contribute to SuperFastBusiness Live. But if you did find out the reason, then you could retrospectively go and catch up with everyone if you’ve cookied their browser and start running a campaign to address the gap that you now know but didn’t know at the time they were at the site.
Mike: Absolutely. And with your remarketing list, we’ve talked generally about short time frames, another great use of remarketing is putting all of these people onto the longest possible list that you can, which is actually 540 days, just as a safety measure, if you like.
Just to know that I’ve got this group of people over here that I could, if something goes horribly wrong, I could run mad to these people at a moment’s notice, at the drop of a hat. You know, maybe you’ve got CEO problems, maybe like what happened here in St. Kilda recently, the restaurant burnt down.
If they’d had a remarketing list of the 50,000 people that have come to the restaurant recently, they would very easily be able to run a remarketing campaign once they’ve reopened, letting everybody know that they’ve reopened and they’re back in business.
James: And just to clarify, the cost for you to be putting that cookie onto your website is how much?
James: Zero. So it’s a great insurance policy. OK, so just wrapping up, what would be the action steps for someone who has listened to this and thought, OK, Mike’s talking about some pretty good stuff about remarketing, I might go and have a look in my Google account.
I guess they would have to start mapping out who they want to talk to and what message they would have with those people.
Mike: Absolutely. Start there. Start by figuring out: who’s the group of people that you would like to reach, what messages do you want to show, and in a perfect world, would you like to change the message or change how much you’re willing to pay to get it in front of those people over time?
So first thing first, forget the code, forget the computer – get a piece of paper, get a whiteboard, and map that out.
James: Oh, you mean you should know your lifetime customer value?
Mike: Little things like that, yeah.
James: You know, everything else makes sense when you know the big numbers like that. Well, Mike, it’s great to catch up again, thank you for sharing this information, and that’s Mike Rhodes from WebSavvy.com.au.
Quite the expert in Google, all things Google, used to be the Google guy.
Mike: Still am. Not on Twitter as much anymore, but yes, that is still my handle on that. It’s a bit embarrassing actually, really, I think in hindsight, I think I picked that one five years ago.
James: Well, you know, I think you probably backed a good horse. They probably will own the world, eventually.
Mike: It was probably better than being the Yahoo guy.
James: Or the MySpace guy.
James: That’d be one you’d keep a little quiet.
Mike: Hasta la vista baby, yeah? Well, that was good.
James: Thanks, Mike.
Mike: Yep, no, bet a good horse. Thanks mate, always a pleasure to catch up with you.
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