advanced retargeting - craig boyte
DESCRIPTION
A look at advanced Retargeting strategies and tactics for e-commerce and other website types. Presented by Craig Boyte of FRWD at the MnSearch March 2013 event.TRANSCRIPT
Advanced Retargeting
04/11/2023 1
Craig BoyteAssociate Media Director FRWDi612 Vice President: Sponsorships@Craigboy
Introduction: NavigationWhat We’re Going To Cover
How to think about retargeting
Why retargeting
Basics
Four advanced tactics
DMP/DSP vs. hiring a vendor
General things to remember
Introduction: Navigation Mindset
Consumer centricity Data centricity
What can you learnFrom your customers
What value are you providing to your customers
Introduction: Navigation Why Retargeting
90 to 95+ percent of visitors who browse a retailers site do not complete a transaction in their visit
Retargeted consumers are nearly 70% more likely to complete a purchase as compared to a non-retargeted consumers*
Retargeted customers spend, on average, 50% more than those served with non-targeted banner ads*
*Retargeting study by Criteo 2011
Some facts
Introduction: Navigation The Basics
You know this part already
Retargeting:Putting your message in front of lost prospects to get them back
Introduction: Navigation
Introduction: Navigation Can I Do More?
Sequential retargeting
Search retargeting
Social retargeting
Dynamic retargeting
Introduction: Navigation Sequential Retargeting
Sequential retargeting
Introduction: Navigation Sequential Retargeting
Use sequential messaging to move people down the sales funnel
Tell a story
Reminder/Introductory Message
Value PropositionMessage
Closing/Sales OfferMessage
Introduction: Navigation Sequential Retargeting
Sequential retargeting is also way of testing both value propositions and price points
Value Proposition One
Value Proposition One
Value Proposition One
Value Proposition Two
Value Proposition Two
Value Proposition Two Price Point One Price Point One Price Point Two Price Point Two
First impression Second impression Third impression Fourth impression Fifth impression
Sixth impression Seventh impression Eighth impression Ninth impression Tenth impression
Introduction: Navigation Search Retargeting
Search retargeting
Other site
What is search retargeting?
Introduction: Navigation Search Retargeting
Your Site
Place 3rd Party cookie
Retarget
Introduction: Navigation Why Search Retargeting
By definition site retargeting only hits people who already know who you are
Search retargeting hits new prospective clients
You can base your targeting at the keyword level much like a search campaign
Set expectations: You will have lower results with search retargeting compared to site retargeting
Site retargeting does not, and can not, increase prospects
Warning
Introduction: Navigation Social Retargeting
Social retargeting
Facebook inventory is now available and use is growing quickly
Introduction: Navigation Social Retargeting
Even with its growth, most still don’t use it
Introduction: Navigation Social Retargeting
Introduction: Navigation Why Social Retargeting
Facebook retargeting extends your reach: There has been found to be only an 8.3% crossover between web retargeting and the Facebook exchange*
Facebook CPMs cost 82% less than standard web retargeting*
Facebook CPCs are 70% lower than standard web retargeting*
Starting yesterday (3/26) FB retargeting ads will also be shown in the news feed, not just on the right panel**
Turn around times are extremely fast: You can hit someone on FB with an ad within minutes of them visiting your site
Click through rates are 40% lower than standard web retargeting
Facebook extends reach and costs less
Warning
Sources: *http://gold.insidenetwork.com/facebook-marketing-bible/fmb_summary/an-introduction-to-the-facebook-exchange/*http://www.comscore.com/Insights/Presentations_and_Whitepapers/2012/2012_US_Digital_Future_in_Focus** http://adage.com/article/digital/facebook-brings-fbx-ads-desktop-news-feeds/240539/
Introduction: Navigation Dynamic Retargeting
Dynamic retargeting
Introduction: Navigation Dynamic Retargeting
Dynamically populate ads with the product the customer was looking at
Introduction: Navigation Why Dynamic Retargeting
Personalized retargeted ads perform 6X better than generic banners*
Personalized retargeting ads perform 4X better than basic retargeted ads*
Dynamic Facebook ads had a 43% higher CTR than static FB ads**
Dynamic Facebook ad conversions happened 30% faster than static FB ads**
Dynamic Facebook ads had 1/3 the CPA of static FB ads**
Dynamic ads can cost more to serve and sometimes there is a set up fee
Dynamic Ads Simply Work Better
Warning
*Retargeting study by Criteo 2011**Triggit Facebook retargeting study 2012
Introduction: Navigation DSP/DMP
Should You Use A DSP/DMP
Introduction: Navigation DSP / DMP Vs. Vendor
This is a big topic… but here is the short version
FRWD Proprietary & Confidential
Outside publisher
• Easy to implement• More expensive media• Vendor marks up exchange inventory
• Vendor controls all data• They can then sell your data
• Managed service• Limited control of inventory• Limited over improvements• Much easier to do very advanced tactics• No learning curve for setup
• “Set it and forget it”
Self Service DMP/DSP
• A little trickier to implement• Cheaper inventory
• No markup of exchange inventory• Direct control of all data
• Audience data controlled in DMP• Direct control of inventory• Deeper audience understanding
• All data, segmentation and taxonomy of audience data is done by you
• Can have a steep learning curve for advanced tactics
• Requires ongoing maintenance
Introduction: NavigationWho Are The Players In This Space
There are many different potential DSP/DMP partners
FRWD Proprietary & Confidential
Here are a couple of links that can help you out:http://www.clickz.com/clickz/column/1702617/a-step-guide-evaluating-demand-side-platformshttp://www.imediaconnection.com/content/26711.asphttp://econsultancy.com/us/reports/rtb-buyers-guide (paid report)
Introduction: Navigation
Should You Use A DSP/DMP
Introduction: Navigation Wait… What?
Think of retargeting from both a consumer standpoint and a data standpoint
Use sequential retargeting as a way to move consumers down the purchase funnel and as a testing lab for value propositions and special offers
Search retargeting is a way to increase your prospect pool
Social retargeting extends your reach efficiently
Dynamic ads perform better and should be used if possible
Think about your needs when considering using a DSP or hiring an outside vendor
To Recap
Introduction: NavigationHuge Slide With Lots Of Stuff
Invest in privacy educationLegal, IT, marketing, account team…. Privacy center, OBA compliance and ad serving partner It can take time: You can’t just turn in onForecast performanceTiming: Site traffic (25k-100k cookies) = could take 5 months to cumeSales volume: 90 days+ sales volume Set performance expectationsHigher CTR and Conversion but lower volumeEnsure cookie life 30+Map the site (tagging IA similar to content IA)Segment your visitors, everyone is not equalMake sure you have a frequency cap in placeCreative editorial calendar…and budget Plan for it to work (consider a DSP and DMP solution for long haul, creative refreshes) Plan for someone to break itHave a plan for complaintsAlways A/B test with creativePre-determine the length of time for view through conversions Make sure you have a washout code in place after someone converts
Other things to keep in mind
Thank you
Introduction: Navigation Questions
Craig Boyte:Associate Director, [email protected] Vice President: Sponsorships @Craigboy