According to a motionpoint.com report, global B2C e-commerce is on track to hit $2.3 trillion by 2018, with much of that robust growth occurring in emerging international markets. Despite this severe growth, e-commerce market is facing some challenges. Inefficient technical infrastructure, logistics issues, payment gateway structure are to name a few. And one of these includes customer acquisition. Having a great online store with great products doesn’t mean your job is perfectly done. You have to do more than that. Retargeting.biz functions to assist e-commerce businesses in this regard.
Retargeting aids online shops to communicate better with their prospects and their clients in order to boost their sales through their marketing automation and retargeting personalized email software.
What Propagated Retargeting?
Retargeting biz was born when Rares Banescu, founder, had a bad experience with an online store. He bought a Xbox and a few weeks later received the newsletter from the same shop with an offer for a Xbox, but this time, the product was 10% cheaper. There are any other instances when consumers land to a position of dissatisfaction, not because of the product but because of the offerings untold or because of the services. And then he thought about creating a software which more is attached to the human behavior. A software which can monitor each user of an online store and communicate with them based on the actions they took on the website – this way other clients will not have the same sad experience of receiving a discount on a product they just bought. He launched Retargeting.Biz in 2013, a unique tool that does retargeting from a different approach.
The technology was developed from scratch. The concept was to create a unique algorithm. The real feedback was from their clients, to extract the best insights that they can apply in their software.
They had a problem initially, explaining that they did not want to do the classic retargeting, the one that you see on Facebook on in the search results. They wanted to create their own kind of retargeting, on email and live on the website.
On the local market, they were the first to launch such a tool that helped online shops increase their sales with at least 20-30% in the first 6 months and that’s why their marketing budget was very low. Most of their clients came from recommendations from people that were already using the platform and they were well aware what it does so they told other people about them.
Traction and Funding
In 2015, Retargeting biz had revenues of almost $250,000 and in 2016 the projection is that they will double their income because they will enter new markets. expanding into Central and Eastern Europe.
The startup was bootstrapped, but not due to the lack of investors, but because Rares wanted to have full control of the algorithm behind the software. But just after one year, Rares received a funding of $500000 from a local investor which helped them in acquiring more clients on the local market and they started developing an improved version of the platform.
The Team and The Culture
Rares Banescu is the CEO and Founder of Retargeting.Biz with an experience of over 8 years in Online Marketing, especially in Email Management. He likes to always be original and that means to be different. And this difference is his and retargeting originality.
As per Rares, the other greatest thing on Retargeting.Biz is their team, which is a set of different and complementary skills. They have a dynamic workspace that is both fun and creative at the same time. They help each other to get constructive feedback for the work they do.
What the Future Beholds
They are looking for opportunities to expand in other countries and they already have partnerships signed in Bulgaria, Hungary, Poland, Turkey, Russia and the Baltic Countries. They are looking to partner with online stores, advertising agency, developers of online stores etc. Retargeting biz wants to focus on the Central European markets. In the meantime, they will still work on trying to get a couple of clients from new markets worldwide, to see what the local environment is.