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Ads aren't a magic cure to the problem around generating leads and converting them.
They do help with generating leads, but most often than not, businesses have to work hard at converting leads.
If every person who clicked your ad and visited your page followed the sales funnel linearly and converted to a paying customer, life would be great. And businesses would not spend so much money and time trying to get customers.
But unfortunately, it doesn't work that way. Some leads immediately convert to paying customers, and others become leads and disappear.
In some cases, leads start going down the sales funnel and get stuck at a level for a long time. Sometimes, businesses need to generate more customers. What do you do when this happens? You retarget or prospect.
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What are Display Ads, Retargeting, and Prospecting?
Display ads are graphic ads in images, videos, audios, flash, or text form that show up on social media, sites, and apps.
Retargeting is a way of showing display ads on other sites to leads who visited your website but didn't convert to customers. Retargeting is a way of reminding previous website visitors of the services you offer. This is the difference between a regular display ad and a retargeted display ad.
Prospecting is simply a way to generate the right leads. Ads do a great job at linking your business to the right people, but it's still not enough. Prospecting builds relationships and targets leads that have a high chance of being customers.
Why does your business need it?
Brand Awareness
Display ads are great for brand awareness campaigns because they show up everywhere. They aren't as targeted as Google ads, but they generate leads and improve brand awareness excellently. They can reach a wide range of audiences without waiting for them to show up on a particular platform.
Increased Conversions
There are several reasons why leads who previously visited your website didn't convert to customers.
They could have been scoping your services out for future patronage, or they might have forgotten about your services. Either way, it doesn't hurt to remind them. With retargeting, you can increase conversions to your site.
Improved Sales Strategy
Prospecting is a process that teaches you about your ideal customer. The goal is to convert new leads to paying customers. But that's a short term benefit.
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Learning about your customer is a long term benefit that will improve your marketing and success in conversions. If you know more about your ideal customer, you can refine your marketing strategies with the knowledge gained.
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