Smile Group’s ad network Tyroo announced today the launch of dynamic retargeting capabilities to Indian advertisers. Dynamic retargeting enables the network to personalise offers to consumers at scale, by allowing a brand to follow a user across various sites on the publisher partners of the network. The ads are served based on previous Internet actions which did not result in conversion. This is important because the conversion rates, or click through rates (CTR) for display are on average less than 1 per cent.
So, 99 per cent of the audience that saw an ad was not converted by it. Through retargeting, brands can show their ads to only people who have already shown some engagement with the brand, which will help raise the conversion for advertisers.
Nitin Chowdhary, Business Head India, Tyroo Media, said, “We’re proud to launch dynamic retargeting to Indian advertisers. This capability from Tyroo will allow advertisers to reach users that have previously engaged with their brand’s online assets either through site visits, online shopping or engaging with ads. This new form of dynamic retargeting involves on-the-fly, real-time personalised banner creation. Focusing a campaign on users that have been previously touched in this manner improves ROI significantly. Not only will this help advertisers realise optimum ROI, it also makes ads more relevant to consumers.”
Siddharth Puri, Head of Tyroo’s Performance Business, added, “Dynamic retargeting is becoming the mechanism of choice for e-commerce marketers looking to increase their sales. Tyroo is already working with a number of top e-commerce companies in India to help them increase their reach. Our dynamic retargeting capabilities will help them boost volume and quality of conversions that is critical to scaling. We plan to target e-commerce and other advertisers that sell catalog of products.”
In 2007, Yahoo acquired a 35-50 per cent stake in Tyroo, and earlier this year, they rolled out new format rich media ads across the network in partnership with MediaMind.