Post by Joshua Miller, VP, Group Account Director Remarketing has been a crucial and top-performing tactic for display media buying for years. Paid search has been able to take advantage of this approach with Google’s introduction of RLSA in late 2013, though many brands and agencies are still not using it effectively. As RLSA is proving to be a highly efficient search tactic, this is the equivalent of leaving conversions on the table. For one of Performics’ clients, we have seen our CPA lowered by 24% compared to standard search. This is driven by a larger increase in conversion rate (80%) compared to the increased cost (CPC) of bidding more on RLSA searches. In order to take advantage of this extremely targeted opportunity, marketers need to do a few things:
- Determine who you are going to target. Will it be solely based on site visits or are you able to layer in 1st party data (e.g., CRM, DMP)? The latter is more complex to set up but could lead to a more informed approach.
- Prioritize audiences based on your business goals. For example, are prospects more valuable to you than upselling current customers? Are visits to certain pages of your website more valuable than others? Setting up a hierarchy based on business value is imperative.
- Establish relevant KPI’s. The metric of success should be unique based on the type or value of the conversion. For example, prospecting would be CPA-focused (acquisition) while customer targeting would be measured based on value (upsell or retention).
- Structure the account appropriately. Following some of the standard best practices for account set up, you’ll want to have maximum control and transparency. Being able to adjust bids or copy, as well as report uniquely by audience is crucial to attaining the best performance and learning.
- Test! Once base performance is established, do what search marketers do…test and test again to continually expand and improve the program.
Though many marketers are running RLSA within their search program, many have only scratched the surface. Refining the strategy can improve efficiencies and allow you to spend the savings in other areas of your search account.