The software giant has been investing in audience targeting products.
Microsoft recently announced two new advertising solutions in its effort to help advertisers retarget ads efficiently and widen their reach. Product audiences, available in US, Canada, UK, Australia, India, France and Germany is in open beta form, while similar audiences will be available to marketers in the US.
Product audiences can help marketers retarget specific products which the consumers have previously engaged with on their websites. Similar audiences meanwhile can help advertisers improve their conversion rates and ROIs by leveraging partner data from Microsoft.
This article says that early testing of product audiences has reduced consumer acquisition costs by up to 40% and increased conversion rates to 100%. Similar audiences also saw a 70% increase in conversion rates.
[2 minute read]