As retailers strive to provide engaging customer experiences across channels, progressive organizations are capturing and storing actionable insights on their consumers. By tapping into this data, best-in-class retailers are personalizing consumer interactions to foster more meaningful relationships with shoppers to drive engagement and revenue.
Moreover, innovative retailers are extending the window for re-connecting and re-engaging consumers that don’t complete transactions by leveraging new campaign approaches via display advertising.
One solution connecting the dots between e-Commerce sites, email and social networks is MyBuys Long-Term Targeting. The display advertising solution was designed to enable retailers to deliver relevant products and offers to past purchasers and site visitors long after the traditional short-term retargeting window closes.
By extending the retargeting window for up to 18 months, MyBuys’ personalized display ads allow retailers to maximize cross-sell and up-sell opportunities, as well as recover lost sales and acquire new customers. The solution utilizes personalization algorithms, which help match consumer preferences to products in a retailer’s catalogue, increasing overall purchase likelihood.
Personalized display ads are served up automatically based on each consumer’s past behavior and affinities, in addition to observed purchase patterns and attributes of individual products and categories. Additionally, the platform is designed to automatically determine the amount of money that should be bid for each ad impression based on the affinities, preferences and RFM (recency, frequency and monetary value) of each unique consumer. Each individual campaign is triggered when a consumer is most likely to buy a specific product.
Combining these new, time-based ad targeting capabilities with MyBuys personalized product recommendations, retailers can optimize the reach of online display advertising and the effectiveness of personalized email.
“We invest a lot of time, energy and resources to get consumers to our site, and MyBuys turns each visit into actionable insights that we can utilize for engagement, conversion and re-engagement," said Sam Wolf, VP and Founder of LuckyVitamin.com, a natural health and wellness products supplier. “With Long-Term Targeting, we’re able to target both existing customers and site abandoners with personalized offers and products long after the traditional retargeting window closes. This opens up an entirely new set of campaign options for us to add to our marketing mix.”
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