Sometimes an online ad seems to follow you around. Even long after you have already purchased the product. This is not only annoying for consumers, it also wastes marketing budgets.
Advertisers already have several technologies and solutions at their disposal to make it possible to display the right ad on the right device in exactly the right moment for each individual consumer, making advertisements increasingly relevant. With Dynamic Creatives it is possible to differentiate and individualise advertisements based on a customer’s online behaviour. Utilising this technology to prospect for new customers means even more relevance and less wasted advertising.
Re-targeting can be great way of converting users that have previously shown an interest in your product or service, but what about users that have never been on your website? How do you unlock the value of potential new customers?
Your aim is to display the right advertisement to prospective customers, predict their online behaviour and show them an ad for a product or service just when they are realising they want to buy it. Prospecting with Dynamic Creative can be used to serve new customers with the best products or services the advertiser has to offer for each individual user’s purchasing habits.
To collect information and insights into what customers are looking for and clicking on, website pixels are placed on various pages of an advertiser’s website. This site performance data gives insights into anonymous online behavioural patterns of existing customers, which algorythms then analyse to predict a buying intention.
The algorithm is then able to identify consumers who have shown the same online behaviour in recent weeks as these existing customers. We call this ‘act-alike’ modelling: by looking at the behaviour of existing users and then identifying new customers who have shown the same behaviour online, marketers are able to reach a totally new target group.
The behavioural analysis is vital for informing the Dynamic Creative model which products new customers will be interested in. This model determines which product/service and message will be shown to the user in the advetisement.
Users see 'all-time best sellers’ based on their preferences to leverage what the site actually sells, rather than what marketers decide to include in the creative. Informed by their previous online behaviour, new users only see ads for the trending and hot products and sales that they are most likely interested in.
When prospective customers appear in an RTB auction and their behaviour pattern is similar to those who have made an online purchase already, the model can recognise this pattern and show them the relevant Dynamic Creative.
For example, take users visiting a shoe seller’s website. Based on the pixel fires for the product pages they visit, their purchase behaviour might be segmented into formal, trekking, sandals, etc. When the act-alike model comes across a prospective user in an auction (based on site content, time of day, season, previous online behaviour, etc.) the model also recognises which product segment will be of most interest to this specific user. The Dynamic Creatives model is then able to show an ad for the most relevant product segment to the user.
The algorithm is able to create real-time advertisements in a specific context for each consumer, even if that person has never visited the advertiser’s website before. Additionally, the self-optimising models learn from the successes of prospecting via Dynamic Creative, thus they continuously improve performance, efficiencies and drive better ROI for the advertisers.
So what does this mean for the consumers? No more irritating advertising! Just suggestions for products and services they are actually interested in.