Answers Served: Magnetic Attracts Tumri for Dynamic Retargeting
ADOTAS – They seem like such an ideal match: retargeters attract visitors back to sites they’ve recently viewed while dynamic creative companies customize display for each user. So why aren’t these crazy kids hooking up left and right?
Well, they kinda are — a few weeks after launching Retailer Retargeting with [X+1], dynamic creative firm Tumri has teamed up with search retargeter Magnetic to offer instantly customizable display ads not just based on site visit, but also search queries and information from comparison shopping sites.
Magnetic CEO Josh Shatkin-Margolis, who chatted with me about search retargeting back in May, shared details on the new product and waxed poetic about the differences between search and site retargeting.
ADOTAS: How fares the keyword marketplace? Have you guys ever considered calling yourselves “Keyword Hustlas”? It’s got a ring to it.
SHATKIN-MARGOLIS: That’s funny! The keyword marketplace is progressing well. We believe we have really struck a chord in what the advertisers want by enabling targeting on any topic, on any form of media, with any level or precision or scale all the while being perfectly transparent.
Having partnered with over 100 ad networks, publishers, ad exchange buyers/DSP’s and agencies, we continue to lead the industry of search retargeting.
Tumri has been quite the busy bee lately, recently introducing a product with [X+1] specifically aimed at retailers. How do you feel your joint offering with Tumri really stands out from other retargeting solutions with dynamic creative?
Tumri has been busy because product specific ads perform so well. The challenge with traditional retargeting is scale; only showing ads to previous visitors of your website is limiting. The Magnetic and Tumri partnership enables retailers, for the firs time ever, show product specific ads to any user that has previously searched for their product without having visited their site.
Correct me if I’m wrong, but didn’t you previously use dynamic creative? What new goodies will clients see from this partnership with Tumri?
Magnetic has always offered highly targeted ads via search re-targeting by showing ads to users based on their search history.
The new goody we are now offering to Magnetic’s clients and Tumri’s clients is the ability to show dynamic ads based off of search history. For example, if a user searches for “Hawaiian hotel” we are able to show a travel site’s advertisement that lists the current lowest price and any specials on Hawaiian hotels.
How does search retargeting really differ from other forms of retargeting? How does an advertiser best take advantage of search retargeting?
Search re-targeting is different from “traditional” retargeting, also known as site retargeting in terms of scale. Site retargeting enables you to show ads to people that have visited your site. Search re-targeting enables you to show ads to people that have searched for your products across a set of search engines. Search re-targeting let’s you reach a much broader set of users and acquire new customers who have never visited your site.
What in particular enables Magnetic to be so accurate in its retargeting?
Magnetic is able to target so precisely because we are following the techniques used in the highest converting form of advertising, ever. Sponsored search ads (i.e. the text ads along side of search engines) are the highest converting ads on the internet and likely the highest converting ads ever. These ads are targeted based on user searches.
Magnetic brings the power of search data to display by showing ads to users based off of their search history. We show cell phone ads to people who previously searched for “cell phones.” It may not be rocket science but it works well; far better than building complex algorithms for calculating who an auto intender is based on thousands of pieces of information.
Is it possible to explain in layman terms how Magnetic leverages search data for customer intent? Maybe give us an example?
Example: 1) a user named Joe searches for “cell phone;” 2) Joe is considering between buying an iPhone or a Blackberry; 3) Joe visits a news website at a later time and sees an impressive video ad showing all the reasons why an iPhone is better than a Blackberry; 4) Joe buys an iPhone.
What is your take on consumers feeling retargeting is creepy? How does a retargeting company avoid coming off like a stalker?
In order to avoid coming off like a stalker, advertisers can limit the frequency that a user sees an ad. Even before re-targeting became popular, advertisers have always seen best results when the number of ads shown to a single user was modulated.
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