32%
higher ROI for the experimental group
18%
increase in conversions owing to the experiment
Campaign objective
Increase in the number of conversions from dynamic adverts
In cooperation with Allegro.pl, we tested the use of the AddToWishlist event in dynamic remarketing on Facebook in Business Factory. The aim of the experiment was to reach with an advertisement the visitors of the website who had added items to their Wishlist but did not purchase them, and then to compare this kind of optimisation with the other ones used so far.
OUR SOLUTION
Experiment with new parameters of dynamic advertising
The fundamental and mandatory events for dynamic remarketing on Facebook include ViewContent, AddToCart, and Purchase. However, there are many more events that may be tracked. We tested targeting on AddToWishlist in cooperation with the Polish e-shop Allegro.pl. The basic idea was that customers add items to their Wishlist that are either currently out of stock or they are seriously considering buying, or they are waiting for a price reduction.
Facebook always displays only products that are currently “In stock” in dynamic ads. However, to be on the safe side; you may set a filter in the product set to include only products that are in stock and ready to ship. A customer who is waiting for a product to be stocked will be notified by the advert that we already have the product and can buy it straight away. We will remind others that the product is still available, ideally at a discount.
The first step must include setting the AddToWishlist event. There are two options. It depends on how you have the feature set up on your site. Either the pixel is loaded when the Add to Wishlist button is clicked or when the page is loaded. It is recommended to put all dynamic parameters into the event pixel, i.e. product ID, product type, price, and currency. Don’t forget to test that the pixel is correctly deployed and sends all the necessary data.
Unfortunately, it is not possible to set up a campaign targeted to AddToWishlist directly in the native Ads Manager. For this type of adverts, you need to use a third party platform, such as the ROIHunter platform in our case, offering this option.
The in-store optimisation campaigns performed very well and our vision of connecting the online and offline worlds slowly and surely started to come true. But we didn’t stop there.
Results
18% more conversions owing to the experiment
The basic metric for evaluating campaign performance in Allegro consists in ROI calculated based on our own data, which we import daily from the client’s internal system directly into the ROIHunter platform. These are only purchases made based on website clicks, rather than post view conversions. We compared the results of the campaigns targeting AddToWishlist to the campaigns targeting ViewContent and AddToCart, with AddToCart (aka Abandoned Cart) being the most relevant audience to use for dynamic remarketing. On average, the campaigns targeting AddToWishlist had an ROI 32% higher than ViewContent and only 15% lower than AddToCart (see chart). By adding a new campaign type, we increased the number of purchases by an average of 18%.
What does the client say?
“Business Factory has the pull. It’s constantly improving and looking for new ways to achieve its goals. We’re glad for this approach as it reassures us that our goals are key to Business Factory.”
Radoslaw Gorka
Performance Marketing Senior Manager of Allegro
