850% YOY Revenue Growth through Paid Media
Through analytics attribution reports, we discovered that the client's customers took much longer than usual for a typical eCommerce business in the consideration stage (12-20 days). Knowing this, we mimicked the typical customer journey in our ad efforts and optimized our targeting accordingly. We also discovered that we needed to quickly figure out what the buyer persona was for each category and product, as well as what types of messaging resonated the most with our target audience.
Step 1: Facebook Ads
Before the high season began, we knew that optimizing events on Facebook ads for those at the top of the funnel was important. This allowed us to limit the changes made to optimizations on the account during this season, resulting in 90%+ of ad sets being out of the learning phase throughout the season. Therefore, our return on ad spend (ROAS) sat around ~20 throughout the season.
Additionally, we ran multiple A/B tests on Facebook ads that were specifically designed to test messaging, creative approach, targeting, and which product from each category appealed most to the target audience. Running these tests allowed us to see what options were most successful, helping us to make better strategic decisions.
By using Facebook, we created separate funnels for different product categories and products. It allowed us to focus our targeting and offer more to the ideal customer. Which moved them down the buyer’s journey in a logical order of messaging (brand, product features, benefits, social proof, and upsell of accessories). We were able to drive campaigns at a high ROAS while having the ability to adjust what we had advertised based on the current inventory situation.
Step 2: Google Ads
We also knew it was best to focus on Google by making sure we harvested > 90% impression share of the brand and product terms to convert users. Optimal also created a holistic e-mail automation strategy for the client. On top of that, we ran generic search ads; we experimented to determine the best geographical locations and bid strategy to advertise.
The results? We generated $5.3M in revenue from Google Ads alone, while only spending $230k. The client was very pleased with the 23X ROAS that was delivered.
Step 3: Email
Creating a holistic email automation strategy also made a lot of sense as a tactic to help increase revenue growth. They were leaving a lot on the table due observed browse and cart abandonment rates. The plan we created addressed both issues, as well as included customer retention campaigns.
We helped to run multiple giveaways (with a cost per lead of less than $0.30) and site abandonment pop-ups to gather additional leads. We were excited that this strategy resulted in us gathering 100,000 new email subscribers to the client’s mailing list.