Why Is Advertising So Important?
In our dynamic and competitive marketplace, it is more important than ever to get customers through your door – and keep them coming back.
Retail and restaurant owners and operators need an effective way to get their brand image in front of current and potential customers over and over.
This will keep their brand top-of-mind when consumers are thinking about a place to spend their money.
Harvard Business Review has revealed that acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.
Further, a Bain & Company study showed that increasing customer retention rates by just 5% can increase profits by 25% to 95%.
So, it is more important now than ever, and much more valuable to keep current customers coming back.
Most restaurant and retail locations will not have the budget for television and radio advertising. Fortunately, the internet and today’s technology can provide relatively low-cost ways to advertise your brand without breaking the bank.
Remarketing for Retail and Restaurant Locations
One of the most effective ways to keep customers coming back is to execute a remarketing campaign aimed at your current and past customers.
According to Signifi Media, the average click-through rate (CTR) for remarketing ads is 10 times higher than regular display ads.
The average CTR for retargeted ads is 0.7% compared to 0.07% for regular display ads.
A CTR of 0.7% is a significantly better conversion rate compared to other digital advertising strategies, which could make a meaningful difference in restaurant and retail ROI.
Bloom Intelligence provides several ways for you to execute remarketing campaigns.
First, Bloom gives you the ability to embed a Facebook pixel into your WiFi landing page.
When a customer logs in, the pixel is triggered, and the action is recorded.
You then have the option to target those customers with Facebook and/or Instagram ads using Facebook’s custom audience feature.
For instance, when someone is at your place of business and logs into WiFi, the pixel is triggered and recorded. Unlike cookies, the pixel is not stored on the user’s device.
Then, when you create a Facebook ad campaign, you can instruct Facebook to show the ad only to those who triggered the pixel.
So, every time that customer logs into Facebook or Instagram, they will be targeted by the platform with your advertising campaign.
Another way to gain more customers through advertising on Facebook and Instagram is by creating a “lookalike” campaign.
Since Facebook uses the pixel to track those who log into your WiFi, it will soon begin to understand the demographics and behavior patterns of those customers.
The platform can then search its massive database to find others who share similar patterns and traits.
For example, if your customers who log into WiFi are mainly 25-35 year old males who live in urban areas, Facebook can see this and create a list of people with those same traits.
Then, you can create an advertising campaign to target that lookalike audience.
Google also has a version of lookalike campaigns that you can use alongside Bloom to bring in new and existing customers. They call this Similar Audience Targeting.
It works in a different way than the Facebook Advertising pixel.
When customers log into WiFi at your place of business, they are taken to a WiFi landing page, also known as a captive portal.
This page requires the customer to enter their email address to gain full access to the internet.
Bloom then creates a customer profile for that customer and stores the email address – along with all of the past and future behavior data – in your customer database.
At any time, you can easily export all of these email addresses into a spreadsheet. Then, you can upload the spreadsheet into the Google Ads platform.
The platform will analyze the characteristics and behavior patterns of the customers and create your similar audience to target through Google Ads.
Your ads will only show to those who are within your similar audience. They will show on Google search results pages and on websites featuring Google Ads.
In addition, if you create a video advertisement, Google will display the ad to your similar audience on the YouTube platform, as well.
Bloom Intelligence Advertising Features
The Bloom Intelligence advertising features help restaurant and retail owners and operators make the most of their advertising campaigns.