This new method of audience targeting is designed to boost the performance of shopping campaigns with better conversion rates and lower cost per acquisition (CPA).
Product Audiences creates remarketing lists for specific products in shopping campaigns. Unique product IDs track what a customer interacts with while an ad display matches that product ID.
Microsoft says customers using Product Audiences in a pilot study saw up to double the conversion rate and a 40% lower CPA.
This new method of audience targeting is designed to increase conversion rates by finding prospects who are similar to those who already buy from you.
Similar Audiences helps advertisers find new customers who have similar interests to existing customers in the advertisers’ remarketing lists.
Microsoft says advertisers in early pilot studies saw 70% higher conversion rates from Similar Audiences when compared to non-targeted users for the same ads.
These new audience targeting solutions are available now as part of an open beta.