Dynamic Retargeting : -The Holy Grail of Marketing?
Sammanfattning: To reach consumers with marketing in today's digital climate is in need of highly accurate and relevant ads. Consumer are in constant information bombardment and increasingly tougher competition is making it more complicated to reach your target consumers that wants to see and get what they want whenever they want it. Dynamic retargeting is highly intelligent, utilizing the latest technology for performance marketing, which enables ads that are highly accurate and relevant through personalization, cost efficient and revenue generating. This is possible due to algorithms targeting most likely conversion (company defined valuable post ad click actions) targets and at the right moment in their purchasing funnel. Our findings, based on analysis of dynamic retargeting campaigns from a Swedish-, Danish- and Finnish company, support previous literature that ad personalization and timing will affect consumer engagement and also their purchase behavior, positively affecting ROI. The data show that dynamic retargeting considering timing (in this case, ads targeted directly after browsing instead of 8-hour delay) had 3.4% higher banner click-through rate and a conversion rate that was 13.1% higher. We also found that dynamic retargeting is increasing ROI. The result show that dynamic retargeting had a incremental ROI of 62 times the investment compared to buyers not targeted with dynamic retargeting. Lastly, we recognized the importance of being able to recognize users across different devices. We found that 72% of buyers used at least 2 devices and switched at least 3 times before the purchase, which highly suggest cross device recognition as an important feature in dynamic retargeting, in order to gain efficiency in ad delivery, costs and results.
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