MyBuys Unveils Long-Term Retargeting Service
By Ken Magill
Personalized-offer-recommendation firm MyBuys today unveiled a retargeting scheme under which it claims it can serve effective targeted display ads to clients’ site visitors and customers for up to 18 months.
“By extending the retargeting window for up to 18 months, MyBuys gives retailers and brands a new, powerful set of options for efficiently and cost effectively reaching consumers for re-engagement and acquisition,” the company said in a statement.
The core of MyBuys’ business is apparently a group of algorithms it uses to combine as much online and offline data it can get its hands on to dynamically match consumer preferences to a retail client’s catalog of products and make targeted offers via email, on the merchant’s site and in display ads across the Internet.
“With MyBuys Long-Term Targeting, personalized display ads are served up automatically based on each consumer’s past behavior and affinities, together with observed purchase patterns and attributes of individual products and categories,” the company’s release said. “Personalized display ads can be used for replenishment, cross-sell, up-sell and win-back offers, with each individual campaign being triggered when a consumer is most likely to buy each product.”
According to chief executive Robert Cell, MyBuys serves display ads through its on DSP, or demand-side platform, and two others.
Demand-side platforms are network-agnostic ad exchanges that allow advertisers to identify a target audience and bid on available inventory across the Internet rather than buy inventory on a specific site or network.
MyBuys’ original product is a one-to-one email program, according to Cell.
“For the last six years, we’ve been building what we think is the only one-to-one email service,” he said. “Basically, like a personal shopper that reaches out to you with a phone call, we send emails and every email to every consumer has a different set of merchandise and offers. And we send them only when we think the probability the consumer will respond has been met.”
Cell claims the emails MyBuys sends tend to generate 10 times the revenues of clients’ messages.
“At least five,” he said.
The new retargeting service takes the email algorithms and applies them to display advertising, Cell said.
“We believe that will outperform the current display ad market by more than ten X,” he said. Unlike most retargeting efforts that focus on short-term results, MyBuys’ new service will create long-term dialogs, he said.
MyBuys claims more than 400 clients.