The cost of shipping and CPM skyrocketed.
70% of media buyers already adjusted their strategies, according to IAB. Online stores are struggling to keep ROAS high enough to get a positive ROI and overcome the challenges COVID-19 has brought.
In times like these, it’s more important than ever to be able to cut your costs. This is why dynamic creative is no longer nice to have but a must-have tool in your strategy. Current world events reshaped the way we run our businesses in a couple of weeks.
Consumers are seeking the products they need online, and the pressure for your brand to stand out is higher than ever.
Today we will show you how your store can quickly respond to sudden shifts in customer needs and how you can shift your marketing efforts to where the results will be the greatest.
Let’s dive in.
Marketing moments with Dynamic Creative in Challenging Times
Many people who are used to shopping in-store are now online. Responding to this kind of shift, and helping the consumers find their way to you in this new environment will make the difference between brands who adapt and brands who disappear. It is essential to be creative when it comes to defining new marketing moments.
Dynamic creative offers the only way to reach and engage with desired audiences through personalized messaging at scale on Facebook and Instagram.
The real power in dynamic creative ads has always been one – the creative message. Dynamic creative campaigns can root the creativity in data, and not let you overwhelm the customer with irrelevant messages.
Implementing Dynamic creative in your strategy will allow you to leverage and develop numerous unique creatives. Each version will stay relevant to each viewer.
What is Dynamic Creative and What is DCO?
People use Dynamic Creative and DCO term (Dynamic creative optimization) interchangeably where they are, in fact, not. Dynamic creative (which you can see in this awesome example of our work for Air Serbia) is creative, which has hundreds of versions.
No matter if there are two or two million versions of an Ad, the point is, versions are shown based on a number of dynamic triggers.
What you do here, is that you plan out your strategy, you draw out a decision tree, produce all the versions, chuck them into a dynamic template and get to work serving each one to precisely the right person.
DCO, on the other hand (short for dynamic creative optimization), is an approach that allows you to identify the best performing creatives and run the rest of the campaign with them. You make your ad versions, then test out different versions, find the best one, and base the remainder of your campaign on that.
In short, you can’t have DCO without DC, but you can very much have DC without O.
Realtime feed-based Dynamic Creative
It was never about the format, it was always about the delivery. When, how, and to who.
A supply chain is impacted by the circumstances, and things can change around fast. Products are getting out of stock, prices are changing quickly, so you can’t follow those changes with your advertising.
Realtime dynamic campaigns enable you to keep your ads going despite the potential challenges. With dynamic creative, you can reflect these changes in your ads effortlessly.
Feed-based campaigns are updated with selected content, product-based info, creative personalization, or any custom data, via live spreadsheet-based feeds.
What makes feed-based campaigns great is their relative ease to create and control. All you need to do is connect your content to your dynamic creative template. This will show the product data and the message you want to be displayed across Facebook and Instagram.
You can update content in the feed, easily and quickly, without having to update creative assets.
In a nutshell, a spreadsheet contains every version of the content that can be served in the creative. Feeds make your social advertising dynamic.
Better retargeting campaigns
Product-related campaigns can also retarget selected users with specific products. These types of campaigns are particularly useful for abandoned cart promotions and cross-selling or prospecting. We already covered how to enhance your brand data with Facebook dynamic product ads (DPA) where retargeting doesn’t have to be abrasive and static.
Advanced Localized Campaigns
You can localize content in your ads through familiar imagery and video, or copy specific to cities and regions. You can serve local promotions depending on where the viewer is – right down to the district of a city and geofence radius up to one hundred meters.
Design your feed to display local promotions and pricing, favorite products specific to a region, messages based on the time of day, local weather, and much more. It’s easy to discover the best-performing creative for each geo, from images and colors to calls to action and finally optimize a campaign.
You can produce as many location-based ad variations as you need. More campaigns you run in different markets, the more data you will have to optimize future campaigns.
Speaking of weather, did you know that dynamic ads can be linked to all kinds of realtime feeds to incorporate up-to-the-minute data users care about?
TLDR: You can really personalize ads to local tastes.
Lower your CPM with more creatives
Now more than ever, brands need to amplify their creative workflows, especially as many of us have cut production costs. You can save production costs and invest in an even higher media buying budget.
In the context of e-commerce marketing, creative relevance is how well a brand can deliver messages that resonate with each consumer.
Inform consumers about your availability, free shipping, or delivery times to ease the experience for first-time shoppers.
You can test and iterate for the best outcome – squeeze the most out of your advertising spend.
Dynamic Creative on Social in Nutshell
Dynamic creative allows you to own the conversation your brand is having with your consumers. This means that you decide what to show and when. It also means you decide who sees what. This way you can help introduce new users to your brand, introduce old users to new products, or re-engage users who are still in the process of buying.
With you owning this conversation you can:
- Reduce CPM by staying relevant
- Shorten time to conversion by using sequential messaging
- Drive the CTR by delivering the right message for each user
- Decrease the CPA by decreasing the number of steps in the conversion
- Increase customer LTV by re-engaging lagging or previous buyers
We believe in the combination of data, creative, and automation. Using Hunch Dynamic Creative and automation platform, we help our partners in establishing fully dynamic creative, driven by internal and external data points that truly influence results on Facebook and Instagram.
If you are not running Dynamic campaigns on Facebook, now is the time to start. We’re able to help you turn static concepts into dynamic reality.
HUNGRY FOR MORE?
CPM on Facebook is increasing dramatically. Facebook becomes more expensive.
So the main question is:
How do we survive the dramatic increase in CPMs?
This article aims to answer those questions.