Should you show the price in remarketing content?
April 23, 2022
Remarketing is a great tool for reaching customers who have already shown an interest in your brand and offers.
These customers are more likely to convert, which means remarketing can provide significant increases in performance and conversions.
However, there’s always some debate about whether to include the price in any content or not.
Some people say that customers may already know the price, or that including it could come across as too salesy which might turn them off.
Some might even say that showing the price could turn a potential buyer away.
Let’s end the debate once and for all and see what the data says instead of relying on “gut feelings”!
Only 5% of all remarketing ads show the price in the content
When we take a look at all remarketing impressions, we find that only 5% of remarketing content shows the price!
This might mean that it is common in the advertising industry to believe that the price has no place in remarketing content.
However, this could mean a great opportunity for you to take advantage of.
Displaying prices when others aren't, even though data shows it is effective, may lead to great results!
95% of all remarketing ads don’t show the price in their content!
While it's likely that marketing departments are trying to sell on other values such as quality, discount, or exclusivity, it's also important to take a look at the actual difference in performance between ads that do and don't show the price.
Showing the price in the content increases performance by 21%
When we compared the performance of ads that show the price to those that don't, we found that including the price in content can lead to a 21% increase in purchases!
This makes sense because for most buyers, price is a significant consideration when making a purchase decision.
Showing the price can help set and align their expectations, and it's not necessarily too salesy – it's just simply providing the necessary information for them to decide if they're interested.
If every advertiser was aware of this insight, it's likely that more would start showing the price in their remarketing efforts.
However, given that only 5% of ads currently include the price, this could be a good opportunity to stand out and improve your performance!
Especially on and after payday the increase in performance is substantial
When we look at the average performance over an entire month, we see that there are times when showing the price in remarketing content decreases and increases performance.
If you take a look at the graph, you can see that between the 7th and 19th of the month, as well as briefly between the 23rd and 29th, showing the price performs slightly worse(the gray line represents content that does not include price).
However, let’s take a look at something more drastic.
Most of the month is quite mellow in performance, until we hit around the 30th.
Once this day hits, the relative performance here jumps from 0.25% to 3.5%!
But why does it spike so aggressively at this particular time?
This all makes sense when you consider that most customers have just received their salary and are more willing to make a purchase(payday).
On the other hand, leading up to payday, it might actually demotivate customers who may be trying to save money, so it might be a good idea to leave the price out.Try and show the price on and after payday for a possible increase in performance.
This isn’t a one-size-fits-all approach
Overall, it's clear that showing the price in remarketing content can improve performance.
However, keep in mind that this is not a one-size-fits-all approach.
When we take a look at performance over a month, payday has a significant impact on performance.
Therefore, it's essential to consider your specific audience and their spending habits when deciding whether or not to include the price in your remarketing content.
As always, make sure to test and track your results to see what works best for your brand!
More to read
- The key differences of remarketing ads to be aware of
- How much text to include in remarketing content for best performance?
- Why you should use a sales message in remarketing content
- Is it a good idea to use models in remarketing content?
- Including a logo in your remarketing content - Yes or No?
The dataset from this article is based on 215M impressions and 6K pieces of individual content on Meta (Facebook) platforms. It takes into account data from all countries and industries, with the campaign objective of Conversions. The period is from 1. September 2021 - 16. September 2022.
Numbers are looking at correlation only, not causation. Remember to check your own data: numbers for different brands, industries, and contexts will vary.
If you were intrigued about a specific insight, you can go in-depth into the various dimensions and how data can be segmented in Confect, here.