Retargeting Tuesday is a day that aims to convert users who visited e-commerce stores but failed to complete their purchase on Black Friday or Cyber Monday. It takes place on the Tuesday after these two dates. It aims to impact the high percentage of consumers who abandon their shopping baskets on Black Friday, which is estimated to be 70%. Retargeting campaigns involve targeting your ads and promotions to users who already know your e-commerce site. These customers will potentially be more susceptible to your ads as they have already shown interest in your products. A retargeting strategy needs to be twinned with an appropriate pricing strategy to make the most of the increased sales season beginning in November.
How to implement retargeting campaigns in your e-commerce business
Retargeting actions target users who already know the brand. Follow these tips to ensure your campaigns are attractive, not repetitive or intrusive.
1. Segmentation: Retargeting Tuesday will be more effective if you start with a segmented database according to users’ behaviour and interaction with the e-commerce. This will help you customise your ads to achieve a higher conversion rate. For example, if you know that a percentage of users only looked at the smartphone section of your e-commerce site, you can send them personalised ads with the best device promotions.
2. Channel: Retargeting campaigns can be launched on Google Ads, other advertising platforms, or on social media. Choosing one channel over another will depend on user’s behaviour and characteristics. It is crucial to adapt creatives on social media and create different designs and calls to action for each buyer persona.
3. Frequency: Limit the number of times a user receives your ads to about 2 per day. Despite the proven effectiveness of retargeting, excessive use can make customers uncomfortable and impact on brand image. To avoid this, you can analyse the times of day when your consumers are most active and schedule your retargeting campaigns accordingly.
Adapt your pricing strategy for retargeting Tuesday
Finally, these retargeting campaigns must go hand in hand with a specific pricing strategy to boost user conversion. By implementing dynamic pricing you can create promotions or personalised offers for each population segment and protect your profit margins. You can cross-match your historical pricing data with your buyers’ behaviour and predict which prices will be most appropriate.
Pricing software is the ideal tool to analyse this data before setting prices agilely and easily. The software collects proprietary and competitive pricing information to anticipate market changes and expedite decision-making. This will help you adjust prices to adapt to fluctuations in supply and demand and define the best promotions for retargeting Tuesday. For example, discounts for purchasing more than one item, free trials of new products or services, or exclusive bundles for selected users only.