How to Supercharge Retargeting Ads with Automated Personalization

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7

Lomit Patel (VP of Growth at IMVU - 3D avatar social app) and Shamanth dive into why paid re-engagement is necessary even when there are other organic options available: how to employ re-engagement across very different points of the user journey, how to measure the impact of re-engagement and talk about the AI based creative testing and optimization system that Lomit & his team used to drive some incredible performance.

Source:
How to Supercharge Retargeting Ads with Automated Personalization
(no direct link to watch/listen)
(direct link to watch/listen)
Type:
Podcast
Publication date:
March 11, 2020
Added to the Vault on:
March 15, 2020
These insights were shared through the free Growth Gems newsletter.
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💎 #
1

Retargeting is important at a number of stages, which define the different user segments:
1. Clicks but does not register,
2. First 7 days,
3. Lapsed users after 7 days.

04:05
💎 #
2

Early on retargeting ads are the best way to reach users outside of the app whether they have opted in or not. 

08:00
💎 #
3

ROAS is the key metrics they track, but also look at more granularity based on the segment:
1. Unregistered users → conversion rate to registered users
2. First 7 days → depends on monetization profile: conversion rate of becoming a payer vs. via. consuming advertising

09:04
💎 #
4

Retargeting is mostly done on Facebook and a DSP, and they split retargeting audience between the two. Then they run a control hold out group on each of them to see how they end up behaving to look at the delta. 

12:46
💎 #
5

After 7 days, spend much less on the retargeting paid efforts and increase a lot of the in-house communication channels (push, email, in-app messages because a lot more people have opted-in by then). 

14:23
💎 #
6

They use AI and data to identify the actions that users need to take to then take the best next step in the ideal user journey. Take the insights for these patterns to come up with personalized creatives to match these behaviors. 

16:15
💎 #
7

Once you build a system/model in-house you have to maintain it and you have to continue to iterate to keep it going with best practices. What started off as a competitive advantage can end up being a liability. 

20:28
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Upgrade Your Plan
💎 #
1

Retargeting is important at a number of stages, which define the different user segments:
1. Clicks but does not register,
2. First 7 days,
3. Lapsed users after 7 days.

04:05
💎 #
2

Early on retargeting ads are the best way to reach users outside of the app whether they have opted in or not. 

08:00
💎 #
3

ROAS is the key metrics they track, but also look at more granularity based on the segment:
1. Unregistered users → conversion rate to registered users
2. First 7 days → depends on monetization profile: conversion rate of becoming a payer vs. via. consuming advertising

09:04
💎 #
4

Retargeting is mostly done on Facebook and a DSP, and they split retargeting audience between the two. Then they run a control hold out group on each of them to see how they end up behaving to look at the delta. 

12:46
💎 #
5

After 7 days, spend much less on the retargeting paid efforts and increase a lot of the in-house communication channels (push, email, in-app messages because a lot more people have opted-in by then). 

14:23
💎 #
6

They use AI and data to identify the actions that users need to take to then take the best next step in the ideal user journey. Take the insights for these patterns to come up with personalized creatives to match these behaviors. 

16:15
💎 #
7

Once you build a system/model in-house you have to maintain it and you have to continue to iterate to keep it going with best practices. What started off as a competitive advantage can end up being a liability. 

20:28
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💎 #
1

Retargeting is important at a number of stages, which define the different user segments:
1. Clicks but does not register,
2. First 7 days,
3. Lapsed users after 7 days.

04:05
💎 #
2

Early on retargeting ads are the best way to reach users outside of the app whether they have opted in or not. 

08:00
💎 #
3

ROAS is the key metrics they track, but also look at more granularity based on the segment:
1. Unregistered users → conversion rate to registered users
2. First 7 days → depends on monetization profile: conversion rate of becoming a payer vs. via. consuming advertising

09:04
💎 #
4

Retargeting is mostly done on Facebook and a DSP, and they split retargeting audience between the two. Then they run a control hold out group on each of them to see how they end up behaving to look at the delta. 

12:46
💎 #
5

After 7 days, spend much less on the retargeting paid efforts and increase a lot of the in-house communication channels (push, email, in-app messages because a lot more people have opted-in by then). 

14:23
💎 #
6

They use AI and data to identify the actions that users need to take to then take the best next step in the ideal user journey. Take the insights for these patterns to come up with personalized creatives to match these behaviors. 

16:15
💎 #
7

Once you build a system/model in-house you have to maintain it and you have to continue to iterate to keep it going with best practices. What started off as a competitive advantage can end up being a liability. 

20:28
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Become a member to:
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Notes for this resource are currently being transferred and will be available soon.

How to decide on the user segment to retarget

Have been doing re-engagement for a while because UA without retention doesn't make sense (sunk cost).

[💎@04:15] Retargeting is important at a number of stages, which define the different segments:

  1. Potential user clicks the ad but does not register,
  2. First 7 days onboarding process window where they need users to experience the added value of the app,
  3. Lapsed users that are dormant (not engaged) where they do win-back campaigns.


The priority goes in this order because unless they register, these users are completely lost.


CRM campaigns are highly dependent on how many people opt-in to your emails. IMVU has double opt-in for email but doesn't have big opt-in rates so they try to get them to opt-in on push.


IMVU gets much higher pus opt-in rates after players have done specific actions (e.g. have friends in the game, etc.).

[💎@08:00] Early on retargeting ads are the best way to reach users outside of the app whether they have opted in or not.


How to set target KPIs for different segment of users

[💎@09:04] ROAS is the key metrics they track, but it can change based on the segment:

  1. For unregistered users: focus on conversion rate to registered user,
  2. First 7 days, 2 different monetization profiles:
  • Conversion rate to becoming a payer (even a nominal purchase like $1)
  • People who take surveys or watch videos


When it comes to retargeting campaigns they look at the overall ROAS but also at the different segments and activities described above to make sure there is incrementality coming from these different spends.


On incrementality

To IMVU, icnrementality means assessing if for every $ they are spending they are actually acquiring a user that they wouldn't have gotten without spending that $.


[💎@12:46] Retargeting is mostly done on Facebook and a DSP, and they split retargeting audience between the two. Then they run a control hold out group on each of them to see how they end up behaving to look at the delta.


You should be considering retargeting for at least the first 7 days


[💎@14:23] After 7 days, spend much less on the retargeting paid efforts and increase a lot of the in-house communication channels (push, email, in-app messages because a lot more people have opted-in by then).


AI-based testing for creatives

Tried to automate a lot of the user segmenting (behaviors, etc.), budgeting, etc.

[💎@16:15] They use AI and data to identify the actions that users need to take to then take the best next step in the ideal user journey. Take the insights for these patterns to come up with personalized creatives to match these behaviors.


Examples:

  1. Creating an avatar
  2. Redeeming free credits to customize avatar
  3. Connected with other people


Creatives lead people through that social viral loop to get people to repeat these behaviors.


AI is the sherpa, the guide, but the way it does communication is creatives


Building AI

IMVU went with a partner to do this because it takes a specific skillset to continue to validate the model and keep iterating the model.


[💎@20:28] Once you build a system/model in-house you have to maintain it and you have to continue to iterate to keep it going with best practices. What started off as a competitive advantage can end up being a liability.


Lomit just published a book called Lean AI with much more about this.



The notes from this resource are only available to premium members.
↘ At this point, you know what to do ↙
Upgrade Your Plan

How to decide on the user segment to retarget

Have been doing re-engagement for a while because UA without retention doesn't make sense (sunk cost).

[💎@04:15] Retargeting is important at a number of stages, which define the different segments:

  1. Potential user clicks the ad but does not register,
  2. First 7 days onboarding process window where they need users to experience the added value of the app,
  3. Lapsed users that are dormant (not engaged) where they do win-back campaigns.


The priority goes in this order because unless they register, these users are completely lost.


CRM campaigns are highly dependent on how many people opt-in to your emails. IMVU has double opt-in for email but doesn't have big opt-in rates so they try to get them to opt-in on push.


IMVU gets much higher pus opt-in rates after players have done specific actions (e.g. have friends in the game, etc.).

[💎@08:00] Early on retargeting ads are the best way to reach users outside of the app whether they have opted in or not.


How to set target KPIs for different segment of users

[💎@09:04] ROAS is the key metrics they track, but it can change based on the segment:

  1. For unregistered users: focus on conversion rate to registered user,
  2. First 7 days, 2 different monetization profiles:
  • Conversion rate to becoming a payer (even a nominal purchase like $1)
  • People who take surveys or watch videos


When it comes to retargeting campaigns they look at the overall ROAS but also at the different segments and activities described above to make sure there is incrementality coming from these different spends.


On incrementality

To IMVU, icnrementality means assessing if for every $ they are spending they are actually acquiring a user that they wouldn't have gotten without spending that $.


[💎@12:46] Retargeting is mostly done on Facebook and a DSP, and they split retargeting audience between the two. Then they run a control hold out group on each of them to see how they end up behaving to look at the delta.


You should be considering retargeting for at least the first 7 days


[💎@14:23] After 7 days, spend much less on the retargeting paid efforts and increase a lot of the in-house communication channels (push, email, in-app messages because a lot more people have opted-in by then).


AI-based testing for creatives

Tried to automate a lot of the user segmenting (behaviors, etc.), budgeting, etc.

[💎@16:15] They use AI and data to identify the actions that users need to take to then take the best next step in the ideal user journey. Take the insights for these patterns to come up with personalized creatives to match these behaviors.


Examples:

  1. Creating an avatar
  2. Redeeming free credits to customize avatar
  3. Connected with other people


Creatives lead people through that social viral loop to get people to repeat these behaviors.


AI is the sherpa, the guide, but the way it does communication is creatives


Building AI

IMVU went with a partner to do this because it takes a specific skillset to continue to validate the model and keep iterating the model.


[💎@20:28] Once you build a system/model in-house you have to maintain it and you have to continue to iterate to keep it going with best practices. What started off as a competitive advantage can end up being a liability.


Lomit just published a book called Lean AI with much more about this.



The notes from this resource are only available to premium members.

The detailed notes taken for a resource are an easy way to see the gems in context to get a better understanding. They also include any relevant visuals from the source.
↘ At this point, you know what to do ↙
Request Access

How to decide on the user segment to retarget

Have been doing re-engagement for a while because UA without retention doesn't make sense (sunk cost).

[💎@04:15] Retargeting is important at a number of stages, which define the different segments:

  1. Potential user clicks the ad but does not register,
  2. First 7 days onboarding process window where they need users to experience the added value of the app,
  3. Lapsed users that are dormant (not engaged) where they do win-back campaigns.


The priority goes in this order because unless they register, these users are completely lost.


CRM campaigns are highly dependent on how many people opt-in to your emails. IMVU has double opt-in for email but doesn't have big opt-in rates so they try to get them to opt-in on push.


IMVU gets much higher pus opt-in rates after players have done specific actions (e.g. have friends in the game, etc.).

[💎@08:00] Early on retargeting ads are the best way to reach users outside of the app whether they have opted in or not.


How to set target KPIs for different segment of users

[💎@09:04] ROAS is the key metrics they track, but it can change based on the segment:

  1. For unregistered users: focus on conversion rate to registered user,
  2. First 7 days, 2 different monetization profiles:
  • Conversion rate to becoming a payer (even a nominal purchase like $1)
  • People who take surveys or watch videos


When it comes to retargeting campaigns they look at the overall ROAS but also at the different segments and activities described above to make sure there is incrementality coming from these different spends.


On incrementality

To IMVU, icnrementality means assessing if for every $ they are spending they are actually acquiring a user that they wouldn't have gotten without spending that $.


[💎@12:46] Retargeting is mostly done on Facebook and a DSP, and they split retargeting audience between the two. Then they run a control hold out group on each of them to see how they end up behaving to look at the delta.


You should be considering retargeting for at least the first 7 days


[💎@14:23] After 7 days, spend much less on the retargeting paid efforts and increase a lot of the in-house communication channels (push, email, in-app messages because a lot more people have opted-in by then).


AI-based testing for creatives

Tried to automate a lot of the user segmenting (behaviors, etc.), budgeting, etc.

[💎@16:15] They use AI and data to identify the actions that users need to take to then take the best next step in the ideal user journey. Take the insights for these patterns to come up with personalized creatives to match these behaviors.


Examples:

  1. Creating an avatar
  2. Redeeming free credits to customize avatar
  3. Connected with other people


Creatives lead people through that social viral loop to get people to repeat these behaviors.


AI is the sherpa, the guide, but the way it does communication is creatives


Building AI

IMVU went with a partner to do this because it takes a specific skillset to continue to validate the model and keep iterating the model.


[💎@20:28] Once you build a system/model in-house you have to maintain it and you have to continue to iterate to keep it going with best practices. What started off as a competitive advantage can end up being a liability.


Lomit just published a book called Lean AI with much more about this.