By Alistair Cansdale, Group Account Director, I Spy Marketing.
The old adage ‘You never get a second chance to make a first impression,’ may hold true in the offline world, but doesn’t wholly apply online.
The Internet’s melting pot of technologies, algorithms and applications present ongoing creative challenges for digital marketers across both social media and search. Paid search campaigns, for example often meet the point of diminishing return.
When it becomes clear that this is the case, search strategists and advertisers need to devise smarter and more efficient ways of targeting their customers, which naturally points to the emerging discipline of dynamic behavioural retargeting.
So what exactly is it? In short, it’s a second chance to deliver a conversion using online adverts that target consumers’ past online browsing. Imagine a user visits a travel site and starts purchasing a holiday, but fails to complete the booking. Using cookie data, search marketers can retarget the same user with a bespoke display ad.
This could be a link to an abandoned holiday booking, or details of a special offer or discount. By acting as a prompt or reminder, such adverts are more likely to guide a consumer back to the original site. As these users are already prequalified, they are more likely to convert a second time round.
Essentially, dynamic retargeting adverts are tailored aide memoires. Banners of this ilk are proven to perform better than non-targeted generic banners. Thanks to lower CPA costs, as well as higher click through and conversion rates, advertisers have a better chance of securing purchases. In this respect, dynamic behavioural retargeting is a lucrative way of recouping losses.
However, unique individual targeting means the creative selected needs a great deal of thought. Every banner ad served is deep-linked through to a specific page. Although elements can be personalised in real time, they are also customised based on a number of criteria: the services or products viewed; user demographics; user geography, language and time of day; plus the keywords searched for.
Increasing numbers of advertisers recognise the benefits. Here at I Spy we’ve a number of successful dynamic retargeting campaigns under our belt, and are experiencing a surge in demand for expertise in this field.
It’s testament to the knowledge and skills of the team that we’re currently generating an average decrease in CPA by 40% to 60% from dynamic behavioural retargeting, compared to paid search.
Overall, there’s a compelling case to warrant further investigation. It complements paid search in the online sales cycle, fits well within the current remit of the paid search strategist, and incentivises users to purchase.
As is the case with any technology, it continues to evolve, but there can be no doubt that dynamic behavioural retargeting has a vital role to play in online advertising.
Although multi-variate messaging is billed as the next big thing, the essential premise of differentiating ad content to entice users to purchase will remain an important factor in shaping how brands interact with consumers for some time yet.
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