Re-Targeting for Economic Development
In economic development, we want to use all the tools that are available to make our organization successful. We research opportunities, form partnerships, and leverage connections to get our next announcement. But what tools are in your prospect development tool box lately? If your tool box is filled with old, familiar tools you’ve always used because they fit your organization’s development efforts, it may be time to look at some new tools. You may want to consider adding some power tools.
“Re-Target Marketing” is one excellent power tool made possible by new digital analytics and processing technologies. Re-targeting is a tool designed to help economic development organizations reach the 98% of prospects who do not engage after the first communication. Too often an email, or series of emails, is lost in the prospect’s inbox amongst the many other relocation and meeting requests. Re-Targeting is a digital resource that can help you keep your brand in front of prospects online after they have opened your email and/or visited your website.
Unlike other traditional marketing tools in economic development, Re-Targeting works because it focuses your marketing again on those prospects that are already familiar with your brand from their recently opening your email and/or visiting your website. Every time a prospect sees your re-targeting ads online, your brand gains additional traction and recognition and your prospects get another chance to engage.
The Benefits of Re-Targeting for Economic Development
- Re-Targeted Ads Get Noticed: Nearly three out of five U.S. online buyers said they notice ads for products they looked up on other websites.
- Consumers Are Open to Re-Targeted Ads: 30% of consumers have a positive or very positive reaction to re-targeted ads vs. 11% who feel negatively about them.
- Re-Targeted Ads Work Harder: The average click-through rate for a Re-Targeted display ad is 10X that of a regular display ad. Website visitors who are re-targeted with display ads are 70% more likely to convert on your Website.
Economic development organizations that add the Re-Targeting tool to their digital program will have a cutting-edge resource for their marketing and prospect development that can drive 8X the impressions of current industry standards.
By placing a unique code, either in your email communication or on your website, your Re-Targeting tool can direct your marketing efforts again to those who have opened your email and/or visited your website. The code identifies where to re-serve your ads, ensuring that your ads only go to prospects who have previously visited your site. Having a re-targeting tool in your marketing tool box automates a focused push of your brand, increasing awareness and engagement with your prospects.
With a digital Re-Targeting approach, your organization can gain valuable targeted impressions from interested prospects by having your marketing appear across the prospect’s web searches. No longer will you be seen only on the first visit to your web site or possibly discovered in a crowded inbox. Instead, you brand and ad reappears to the targeted prospects as they move across various digital assets. Re-Targeting is a powerful new tool that economic development leaders can use to secure their next big announcement.
To learn more about Economic Trends and Takeaways and gain greater insight into USDM and Digital marketing as a new resource for your EDC, connect with us at TEDC’s Annual Conference in San Antonio, October 19-21st. Hope to see you there!