Personalized Online Advertising Effectiveness: The Interplay of What, When, and Where

Firms track consumers’ shopping behaviors in their online stores to provide individually personalized banners through a method called retargeting. We use data from two large-scale field experiments and two lab experiments to show that, although personalization can substantially enhance banner effectiveness, its impact hinges on its interplay with timing and placement factors. First, personalization increases click-through especially at an early...