“If I could remarket to only the audience who carry the highest probability of transacting on my site or submitting their details; I could save on my Ad costs and get a higher conversion rate”
Every marketer’s dream, isn’t it? In the current scenario, it seems more like a problem. You are spending millions and not getting your money’s worth from your visitors. What if we turn this problem into an opportunity for you? This is not a drill! In this blog post, I am going to talk about the remarketing struggles and the solution. Read on to find out.
Let’ say your business is an eCommerce or a Digital Publisher. You sell on Website and/or App. You effectively track your visitors on Analytics tools (read Google Analytics, MixPanel) and you employ AdWords, Facebook Ads and other Ad Networks to run your campaigns. And about existing customers, you want to retain them for the lifetime. You build the most creative and targeted remarketing campaigns to drive them back. You know cross-selling or upselling is easier to old and satisfied customers. This sets the opportunity to expect a much higher ROI and a Conversion rate that would make your marketing reports look like a gold mine. I am a marketer and I have been through that. Waiting for the numbers to increase in the conversions but at the cost of doubling my ad spends. What is going wrong?
The Remarketing Problem (or Opportunity ??)
Capturing the Remarketing Opportunity with Predictions
What if I told you, we have just the solution for all you marketers? Predictive Analytics is the magic wand. Tatvic’s Data Science team has developed a Predictive Model using Machine Learning – we call it the PredictN Model. You can find details here.
Let me first show you an impressive case of this PredictN Model for one of our marketplace clients.
How we did this? What’s PredictN Model all about?
Model Predictions: For remarketing scenario, the model will generate an Audience Segment (Qualified Visitors) who carry Highest Probability of getting converted as a Customer within the next ‘n’ days.
Model Output: Remarketing Audience List which can be uploaded to Ad networks for precise retargeting
Model Results: Multiplier effect on campaign conversions and revenue while reducing ad spends
Model Timeline: 7 to 10 days of modeling and accuracy
Interested to know the science behind the predictions? Watch out for the next chapter in this series coming out next week.
A takeaway for reading till the end – heartfelt thanks, with an invitation to attend our free webinar lined up on 6th July 2017 where our Product Manager, Bismayy will talk to you about PredictN model, process and live case studies. Just go ahead and register! And post your comments on how you take predictive actions for remarketing in your business.