Dynamic Ads Retargeting is a solution that is adopted by a lot of high-performing advertisers. There are 2 types: Dynamic Ads Prospecting and Dynamic Ads Retargeting. Today, our main focus will be only on Dynamic ads retargeting. We are going to cover who is this for? What exactly is it? And we’ll give you some examples, of course.
It looks like any other ad. Actually, it is unique in terms of its ability to put products recommendations in front of people. There are 2 types of dynamic ads: Dynamic Ads Prospecting and Dynamic Ads Retargeting.
The only difference here is that if you’re using these ads to retarget people who have interacted with you before, or if you’re trying to reach potential new customers.
What are dynamic ads?
These are the ads that let you promote your products in form of catalogue to people who have expressed interest on your website, in your app or somewhere else on the Internet.
They are very similar to other ads, but instead of producing 1 ad for every product, you can creat ONE AD for ALL you products. Only one ad can represent all products that you have. Simple and better, right?
In other words, when someone visits your site, you can retarget them with relevant products and recommendations.
For example, if a potential client is on e-commerce site looking for a specific product. Let’s say, client is visiting Aliexpress.com and looking for a camera. He/She decides not to buy it. Then goes back on Facebook and sees ads with the same product or products that are in that category or similar to the initial product.
Significant utilization of dynamic ads
Primary reason is SCALE. These ads give you ability to advertise your entire inventory.
Second reason is CONVENIENCE. If you have 50, 100 or even 1000 products you can make only one ad for that. Instead of making 1000 unique ads, you can easily tie all of them in a catalogue. This one ad can give the right product recommendation to potential clients based on their specific behaviours.
Reason number three is RELEVANCE – showing the right product recommendation to the right person. Here we’re not talking about forcing an individual to get a specific product but actually giving them a product that is best suited for them based on their behaviours.
Fourth essential benefit of dynamic ads is that is has the ability to INCREASE YOUR CUSTOMER LIFETIME VALUE. If you use it to retarget existing customers, or sell them same products again, whatever your approach, it makes sure that all customers increase their lifetime value.
Fifth and final benefit is that it is able to help you CLOSE A LEAKY BUCKET. If you find out that you have a lot of people who visit your site, a lot of them who add to cart. However your purchase is small, that is showing you that your bucket is leaking, right? Dynamic ads is powerful when it comes to retargeting people who added to cart but didn’t purchase. So, this can help as a mechanism for closing the leaky bucket.
When you go to Facebook’s Ads Manager and you’re building a campagin Dynamic ads you will be presented with some of the options.
- Viewed or Added to Cart But Not Purchased – you can specify the period of time you’d like to go back to check the number of the audience.
- Added to Cart But Not Purchased – this is a very valuable audience you need to profit from in your retargeting strategies. If you have a large catalogue size then this is an essential part of your toolkit.
- Upsell Products – with this option, you target people with more expensive products
- Cross-Sell Products – you can target people with similar products within the same product set.
- Custom Combination – if you have a unique way in which your products are categorized or something unique about your customer acquisition flow then you can create this custom combination.
The requirements to run dynamic ads
- Product CATALOGUE. This is a data file that contains all of your products, It needs to be uploaded to Facebook’s Catalogue Manager. It will become a part of your Business Manager which then you can tie it to your campaign. We suggest you have at least 10 products to put in your catalogue. You can upload it manualy or through Shopify, WooCommerce, etc.
- You must have Facebook Pixel installed. If you’re new to all of this and you don’t know what is that, we wrote a whole blog about it (What is Facebook Pixel? Is it necessary for your website?). If you are familiar with this, then you know why Pixel is quite important. Also, you need to have ViewContent, AddToCart and Purchase standard events all being used.
- The last thing, when you have everything set up, you need to follow these steps:
- Connect Pixel to your catalogue by going to Catalogue Manager
- Select the catalogue you want to use
- Select Events Data Sources
- Click on Connect to Tracking
- Choose the pixel you want to use then select Save.
Today, we covered Dynamic Ads RETARGETING. If you are interested to learn how to set it up in Ads Manager, we’ll gladly teach you. Also, if you want to learn about Dynamic Ads PROSPECTING, we will help you as well. Just send us a message. We’re a minute away.