Prospecting vs Retargeting

10/12/2024 14 min

Listen "Prospecting vs Retargeting"

Episode Synopsis

Every successful digital marketing strategy relies on two powerful approaches: prospecting and retargeting.

Prospecting: The first date

Targets cold audiences who don't know your brand
Typically consumes 80-90% of advertising budget
Focuses on introducing your brand and value proposition
Essential for business growth and customer acquisition


Prospecting forms the foundation of your digital marketing efforts, as it's where you'll find your next loyal customers. While it requires a larger investment, the potential for scaling your business makes it indispensable.

Retargeting: keeping the flame alive

Engages warm audiences who've shown interest
Usually requires only 10-20% of ad spend
Targets previous website visitors and engaged users
Operates across multiple platforms including Google and Meta


The beauty of retargeting lies in its efficiency - you're speaking to people who already know your brand, making conversion more likely and cost-effective.

The platform game:

Google Ads (Search, Performance Max)
Meta (Facebook, Instagram)
Pinterest
YouTube


While many associate retargeting primarily with social media, it's equally powerful across search platforms, allowing you to maintain visibility wherever your audience spends time online.

Smart messaging strategies:

Cold audiences need educational content and brand introduction
Warm audiences respond better to specific offers and social proof
Testimonials and reviews work well for retargeting
Call-to-action varies based on audience familiarity


Understanding the different stages of customer awareness helps craft messages that resonate at each touchpoint in their journey.

Common pitfalls:

Retargeting all website visitors without consideration
Failing to segment audience based on intent
Not differentiating messaging between cold and warm audiences
Underinvesting in retargeting efforts


These mistakes can severely impact your marketing ROI, making it crucial to approach both strategies with careful planning and execution.

Keys to success:

Set up proper audience tracking
Create platform-specific strategies
Develop distinct messaging for each audience
Monitor and optimize performance regularly


Success in digital advertising isn't just about reaching people - it's about reaching the right people with the right message at the right time.

Remember: While prospecting brings new customers through the door, retargeting ensures they come back for more. The key isn't choosing between them - it's finding the right balance for your business.
*** 
Grow with Evergreen podcast: 
👉 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://shorturl.at/X1WJ4⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 

T.E.A Talks: 
👉 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://shorturl.at/oxIXm⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 

Evergreen Uncut: 
👉 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://shorturl.at/oxIXm⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 

** 

You can discover more about Evergreen here: 

✅ Website: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://theevergreenagency.co.uk/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 
✅ LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/company/theevergreenagency/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 
✅ YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@theevergreenagency/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 
✅ Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/theevergreenagency/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 
✅ TikTok: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.tiktok.com/@theevergreenagency/⁠⁠⁠⁠⁠⁠