THE CHALLENGE
The Media Image’s goal was to maximize sitewide revenue levels whilst operating within strict ROAS goals to ensure profitability.
To achieve this goal, The Media Image would have to implement an audience strategy that balanced low ROAS prospecting audience segments with high ROAS remarketing audience segments in such a way that would maximize revenue levels within the ROAS target. Our target was to increase revenue by at least 15%, whilst maintaining an overall ROAS of $1.80.
Results Highlights
42,39% Increase in eCommerce Conversion Rate
18,18% Increase in Transactions
19,33% Increase in Revenue
THE INTERVENTION
Wander Beauty has a very engaged and active customer base, and a sophisticated data collection and segmentation strategy. This meant we could target users according to their relationship with the brand, such as email openers, 6 month lapsed customers, and frequent purchasers. However, there has been a renewed focus on reaching new customers, but with the requirement of lower customer acquisition costs. This meant we needed to
find high-level prospecting audiences that we could target efficiently. To do this we tested a combination of Facebook Lookalike audiences, and Facebook interests, and ultimately settled on a subset of audiences from which we saw both consistently good volume and efficient customer acquisition figures. Additionally, we devised a substantial creative testing matrix so that we could discover which of Wander Beauty’s excellent creatives worked best on each audience.
Within Paid Search, we conducted a full restructure of the account to ensure that not only were core brand impressions harvested, but also that longer tail product related keywords were equally as covered. For example, [wander beauty baggage claim]. We also built out a generic keyword campaign that we could leverage. We have found that typically this activity does not produce a ROAS we are happy with but can be useful during strong promotion periods such as July 4th and can be used to supplement volume when there is more ROAS room to do so.
SEM & SHOPPING
The initial account structure did not include an extensive keyword build pertaining to the full list of Wander Beauty Products, and so our first task was to ensure that each product was represented within the keyword structure of the account. This would result in increased sales & revenue, both from inventory previously not targeted, but also because of higher click through and conversion rates, as we were able to match ad copy and landing pages to the specific search query.
Secondly, Core Brand was not represented across match types, and so we build out additional campaigns to ensure all Core Brand variants were being harvested. This would also enable more frequent and high-volume keyword harvesting as we matched into a larger number of queries.
The implementation of Bid Strategies would also prove to be a useful tool in achieving an appropriate balance between low and high ROAS inventory in order to maximize revenue within ROAS targets. On Core Brand campaigns, we introduced Target Impression Share bid strategies with a target of 100%, to ensure that Wander Beauty ads would always appear against core brand search queries. For other campaigns, and for Google Shopping in particular, we implemented target ROAS bid strategies. This would enable us to target a lower ROAS on this inventory, thereby supplementing the high ROAS brand and brand plus inventory and ensuring we are able to maximize revenue within the ROAS target.
The legacy Facebook campaign structure was unintuitive and did not utilize newer Facebook features such as Campaign Bid Optimization. Additionally, despite the brands excellent creative library, there was extremely limited testing of creatives, so our fist initiative was to introduce a
comprehensive resting matrix to test different creative iterations to ascertain which creative performed best on which audience. We found that tutorial focused creatives, such as the one below, worked best.
Additionally, we reviewed the existing audience segmentation, and established a more comprehensive approach that would enable is to target users according to their stage in the sales funnel. This would allow is to pursue top level prospecting strategies, whilst ensuring that the retargeting activity was able to supplement the cost associated with prospecting.
Results
Overall, as you can see below, we exceeded our target of 15% revenue growth, by 4 percentage points
- 42,39% Increase in eCommerce Conversion Rate
- 18,18% Increase in Transactions
- 19,33% Increase in Revenue