This is a guest post by Jon Gregoire, Marketing Specialist at CPC Strategy. To hear more from CPC Strategy, be sure to tune into our joint webinar, Acting on Abandonment, on March 13th.
Half the battle of driving sales online is getting shoppers to visit your site. But the harsh reality is that the vast majority of visitors will leave without ever making a purchase, regardless of how much time and money you spend getting shoppers to your product pages.
That’s where retargeting comes in. Retargeting focuses in on just the shoppers that have landed at your store before, typically delivering the message, “Hey remember my site? Come back!”
Back in July 2013, Google recognized its opportunity to enter in and improve on the retargeting space by introducing the Dynamic Remarketing program for retailers.
What is Google Dynamic Remarketing?
Google Dynamic Remarketing (GDR) is a product feed-based retargeting program that allows you to target past visitors based on their past behavior (visited page, added to cart, past purchasers, etc.) with product-specific ads. Merchants can choose between a CPC or a CPA payment option.
Dynamic Remarketing allows your site to:
- Target qualified traffic (shoppers who have engaged with your store before)
- Customize ad design and format
- Offer relevant promotions and products (ie. “Hey, remember this coat, these boots, and this necktie you checked out? They’re now 15% off.”)
- Segment your audience using advanced parameters, including visitors that have visited one of your best-seller pages and visitors that have abandoned a cart over $100
Why should retailers invest in a Dynamic Remarketing campaign?
The true value of GDR is in its ability to engage bottom-of-the-funnel traffic: shoppers who have already visited and interacted with your site before. But while traditional retargeting accomplishes this, Dynamic Remarketing takes it a step further through interactive, product-specific (vs. site-specific) display ads.
So, Dynamic Remarketing not only reengages bottom-of-the-funnel traffic, but it can also nudge them in the right direction by offering an incentive to convert on your site.
While the promotional incentive is not required, it can be highly effective for given audience segments.
Dynamic Remarketing Best Practices
One of the best aspects of Dynamic Remarketing is its audience segmentation capabilities. Generally speaking, the farther down the sales funnel your segmentation gets, the higher the CPC will be.
Here are just some of the different ways to dice up and target your past visitors:
- Homepage visitors
- Specific product page visitors
- Cart abandoners
- Checkout abandoners
- Past purchasers
Specific promotional offers can be geared differently for certain audience segments. For example, a payment/checkout abandoner might be targeted with “30% off for today only” while someone who abandoned their cart or visited a specific product page may be targeted with a “free shipping” offer.
Google offers a few suggestions of their own on how to target different audience segments.
Good Dynamic Remarketing ads focus on the product images, not the incentive. Check out the different templates here.
Size is also a strong determining factor in how effective your ads will be. We found that the best ad sizes were:
- 728 x 90 (most clicks)
- 300 x 280 (2nd most clicks)
- 336 x 280 (highest CTR)
You’ll definitely need to play around with different ad formats and sizes to see what works best for your products, which brings us to the next point…
Constant testing is a best practice for all things marketing, but in this case, A/B testing for Dynamic Remarketing is relatively straightforward.
Just create 2 separate Dynamic Remarketing ad groups that target the same audiences with the same bid and ad sizes. From there, choose 2 different ad templates/designs and run them for the same amount of time to compare the results.
What do you need to get started with Dynamic Remarketing?
Retailers need essentially 3 things to set up a Dynamic Remarketing campaign: an AdWords account, a Google Merchant Center account, and a Google-approved product feed.
The main steps are basically to:
- Set up and install Google’s pixels on your site
- Create a campaign within AdWords
- Link the campaign with your Google Merchant Center feed
Full campaign set up instructions here. Happy retargeting!