By Taha Gill & Umer Saleem Kiyani
global growth rate of 29 percent. eCommerce revenue continues to grow. New markets are emerging, and established markets have the possibility for expansion. Global growth will resume in the next years. This will be fueled by East and Southeast Asia, where the middle class is growing, and the offline purchasing infrastructure is behind. eCommerce is a term that refers to the online sale of tangible items to a private end user (B2C). This term encompasses both computer-based and mobile-based purchases made via smartphones and tablets. The following items are excluded from the definition of ecommerce DB: digitally distributed services (e.g., airline tickets), online stores dedicated to digital media downloads or streams, online stores dedicated to B2B markets, and sales between private persons (C2C) in the eCommerce market.
Retargeting is a simple cookie-based strategy. When a new visitor to your site arrives, the code (referred to as a pixel) drops an anonymous browser cookie. Later, while your visitors surf the web, the cookie informs your retargeting provider when to display your adverts, ensuring that your content is only available to users who have already visited your site. Retargeting is beneficial in the digital environment since conversion rates are often low. The average website converts less than 2% of its traffic, and that is just if everything is done right. This indicates that 98 percent of the visitors to your e-commerce site is being lost. Retargeting is particularly powerful because it directs your advertising dollars to individuals who are already familiar with your site and have expressed interest. That is why most marketers that use it receive a larger return on investment than they do with most other digital platforms.
The benefits of retargeting advertisements can be very robust:
. Website visitors who are retargeted with display ads are 70% more likely to convert on your website.
. The average click through rate (CTR) for display ads is 0.07% while the average CTR for retargeting ads is 10 times higher at 0.7%.
. 46% of search engine marketers believe retargeting is the most underused online marketing technology.
Retargeting Ads is the way forward for Pakistani online retailers. With staggering conversion results in campaigns using retargeting customers using the cookie-based strategy, Pakistani retailers can truly enhance their lead generation and increase their market share using this innovative method of advertisements. A retargeting ad on average performs 10 times better than a normal display ad, this is something that the marketing team of Ecommerce stores in Pakistan must consider while determining their strategies. The Pakistani ecommerce market had a turnover of Approx. 978 billion rupees in 2021, is retargeting is utilized effectively, this number can grow by billions in revenue, benefiting the online retailers and eCommerce stores greatly.
