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Magnetic, Tumri partner for product-specific ads
Research has shown that it may take two, three or more exposures to a brand or product before a consumer will finalize a purchase. A new partnership between Magnetic and Tumri may help increase the number of exposures, thereby shortening the time between awareness and purchase. The two are partnering for retargeted, product specific display ads.
"Together Magnetic and Tumri are offering the ability to show product-specific ads targeted at users that search for an advertisers product on their site or within a search engine. Together we are able to design the dynamic creative to the client's needs, showing both the requested product and related products within the same ad unit," said Josh Shatkin-Margolis, CEO of Magnetic.
Through the partnership Magnetic and Tumri will offer display ads for products that consumers have may seen during a prior retailer website visit or may have searched for through a search engine or comparison shopping website. In addition to targeting ads based on geographic location or frequency, ads can be sequenced according to the advertisers needs.
"What's been missing with basic targeted ads is that while marketers know the audience profile, they don't know what specific item single users are interested in. Customizing this interaction with dynamic ads to single customers, in a wider and cost-effective fashion, will lead to better conversions," said Shatkin-Margolis. "By finding the people previously on a retailer's site and the people looking for products on search engines, Magnetic and Tumri can help marketers increase the likelihood of conversions and improve ROI."
According to a comScore and ValueClick study retargeted ads increase trademark search behavior by more than 1,000%. Additional research has shown that retargeted ads may increase click-thrus by as much as 100%. The problem is that until now retargeted ads could reach only consumers who visited a specific website; the Tumri/Magnetic solution is available for those retail websites but can also be used to retarget ads based on comparison shopping or search engine queries.
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