AdRoll has a new report out analyzing trends and performance benchmarks across over 55,000 Facebook campaigns accounting for 37 billion impressions worldwide. The campaigns ran between July 2014 and July 2015.

The study found a 31% year-over-year average increase in spend per advertiser on retargeting on Facebook. It also found that cross-device retargeting is gaining adoption and increasing overall performance.

“One of the major findings is that running campaigns across a diversified inventory mix produces better performance and a greater ROI,” the report says. “Considering that Facebook is one of the largest inventory sources, it is no surprise that adding it to an existing retargeting strategy can result in a significant boost impact on performance.”

The company says that when it examined total conversions between Facebook and web display campaigns, it found the majority of conversions still happen on display. Adding Facebook retargeting to existing display campaigns resulted in increased reach, a “significant” drop in CPC, and a lower click CPA across the board.

“By adding mobile retargeting to Facebook campaigns, advertisers have seen a 60% increase in impression reach, 64% increase in CTR, and 36% drop in CPC,” a spokesperson for AdRoll says. “When adding Facebook to an existing display retargeting campaign, advertisers saw a 92% increase in impression reach, 9% drop in cost per thousand impressions (CPM), and 27% decrease in cost per click (CPC).”

The study also found that in comparison to static ad creative, campaigns that used dynamic personalized creative had a 24% higher clickthrough rate in addition to 6% lower cost-per-click, and 41% lower cost-per-action.

You can find the full report here.

AdRoll says it will be participating in the beta testing phase of Instagram’s new ads API.

Image via Facebook