In MCB's marketing department, most partners work with remarketing, including dynamic product carousels. However, our experience tells us that they rarely manage to generate the required 50 purchases within 7 days, and therefore, they don't exit the learning period.
We have set a goal to achieve that!
We will set up a remarketing campaign with a dynamic product carousel that delivers such good results that the learning period is not an issue. And for that, we need data from a split test.
Therefore, we have created 3 identical remarketing campaigns as dynamic product carousels on Facebook. They have been targeted for 'Purchase,' 'Add to Cart,' and 'Content View,' respectively.
The test was also conducted across partners in 3 different industries: fashion, bedding, and jewelry.
Our results subsequently showed that webshops in the fashion and bedding industries experience significantly better performance when 'Add to Cart' is chosen as the primary conversion event for remarketing campaigns.
Both industries saw up to a 66% lower cost per Purchase and up to a 17% lower Cost per 1,000 Accounts Center accounts reached (which refers to the average cost of presenting an ad to a specific number of accounts in your audience).
With these results, it is possible to conclude that a large number of webshops would benefit significantly from remarketing campaigns if 'Add to Cart' is chosen as the primary conversion event instead of 'Purchase.'
As an added bonus, it was possible to get all campaigns out of the learning period with 'Content View' as the primary conversion event. And to a large extent, the same was possible with 'Add to Cart.'
With 'Purchase,' the results were entirely different. None of the campaigns exited the learning period.
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