What’s the Difference between Retargeting vs Remarketing?

What is Cannabis Retargeting?

Retargeting is a powerful tool that allows you to display ads to people who have previously indicated an interest in your products through something called “cookie data” that is collected via website tracking pixels. But what does that mean for you?

Data about customers that have visited your site but not followed through with a purchase is collected and compiled for use. The most likely situation where this happens is probably through something you’ve experienced yourself: a customer browses your website, adds something to the cart, and then abandons the cart without purchasing. Shopping cart abandonment is a significant pain point for cannabis retailers. By utilizing retargeting techniques, you can keep customers coming back by “following” them around the web with ads- so they will continue to see ads for your store long after their initial interaction with your site.

The benefit of retargeting is that it allows you to ride along with your customers through their daily lives and reach them at varying times where they might be more likely to be influenced by your advertising. Let’s say I’ve browsed your site previously but didn’t make a purchase. If I happen to see your ads again a few days later, but this time on payday, the ad might be the final push I need to make today the day I shop at your store.

What is Cannabis Remarketing?

Much like retargeting, remarketing allows you to leverage customers’ shopping habits to your advantage to predict what their next move might be and in what ways they will choose to interact with your dispensary in the future. Remarketing is the process of reaching out to customers who have already made purchases with your business to advertise sales, promotions, and other offerings that might interest them.

While this process mainly involved email marketing tactics, text message marketing via SMS is another proven strategy to get those loyal customers who have supported you back in the door once again. Recent data reflects that 81% of customers were at least somewhat likely to make additional purchases due to targeted emails.

Remarketing is another excellent way to combat shopping cart abandonment by emailing customers a reminder that they have something in their cart and even offering a discount as an incentive to come back and follow through with the purchase.

What’s the Difference Between Retargeting and Remarketing?

Spotting the difference between retargeting and remarketing can be tricky because they both essentially function as a “time machine” to predict what customers are thinking and what their next action will be. Some publications will even use remarketing as a blanket term to encompass both retargeting and remarketing; however, there are a few crucial differences to be aware of.

Remarketing aims to target past and present customers so they can keep up on current deals, product offerings, and more. On the other side, retargeting usually aims to influence new customers to take the next step and become customers of your business instead of just curious observers. Retargeting essentially utilizes paid advertising methods, whereas remarketing relies on the power of marketing directly to your customers via SMS or email.

Both retargeting and remarketing rely on the interest that your customers already have in your business, whether they have made a purchase previously or not. From there, retargeting and remarketing utilize their unique methodologies to fan that spark of interest into a flame- igniting a solid relationship with your business that keeps customers coming back.

Interested in learning how retargeting and remarketing can spark a flame in your business? Contact us today to learn more.