Cross-Channel Marketing for Argos
One of my favourites yet most challenging projects that really put my knowledge and experience of cross channel marketing and use of technology to the test!
38% Increase in Revenue YOY
Enhancing their cross-channel marketing strategies, maximising the use of audience lists, better use of technology and data insights increased revenue by a whopping 38% YOY!
- 19% COS reduction YOY from 4.5% to 3.66%, despite a 12% cost increase.
- 44% increase in revenue YOY for Black Friday week with a 21% reduction in COS.
Multi-Channel Strategies and Tactics
- Rollout of an in-house tool very similar to the Google Performance Planner, to better allocate budgets to areas more likely to bring a better ROI.
- Use of insight data (ICC: initiator, contributor & converter model, time to buy and seasonality curves) to improve cross-channel marketing strategies focused on targeting the right users with the right ad when they are more likely to convert.
- Use of insight data (ICC: initiator, contributor & converter model) to upsell and cross-sell products across all marketing channels
- Introduction of cross channel RLSA audience lists to retarget users based on their previous activity, enabling us to optimise to a more efficient ROI, targeting users with the correct ad at the time they’re more likely to convert.
- Introduction of structured day to day plans to better prioritise tasks based on the effect of account efficiencies.
- Implementation of inventory rules for PPC using an in-house tool (using Google scripts) to automate ad status based on product inventory.
- Better use of technology to automate ad creation at product level, using an in-house technology “Portfolio Manager” (similar to dynamic search ads / creating ads based on data feeds using Google Scripts)
- Emend bidding strategies to match SERP changes, whilst doing a full rollout of expanded text ads
- Better feed management integration for a richer product data feed.
- New optimation rules implemented to the feed management platform to automate optimisation, both enhancing feed quality and reducing working hours within the team.
- Quick rollout of Bing product listing ads in time for Black Friday week
- Application of Google local inventory ads to maximise likelihood of in-store visits
- Quick application of search query ads (1st in UK) and location extension (1st in UK).
- Use of “in-market” audience lists to better target people who are actively searching for the products Argos sell.
- Use of “similar to” audience lists to better target new customers that share the behaviours and characteristics of existing customers.
- Use of ICC (initiator, contributor & converter model), time to buy and seasonality curves to increase ROI by showing the correct ads to the right users, at the right time
- Use of ICC data to identify category relationships and interdependencies, to help upsell and cross-sell
- Use of customer lists to make custom audiences, targeting in-market users
- Launch of dynamic retargeting ads to remind users of products they’ve browsed whilst also looking at ways to upsell and cross-sell products
- Apply locations to the Facebook page to enhance our click and collect strategy
Achievements by Marketing Channel
- Revenue increased by 33% despite a 6% reduction in marketing spend
- COS reduced by 21% YOY, from 3.77% to 2.98%.
- 11% spend increase to Black Friday week with a 34% increase in revenue at a reduced COS of 2.46%
- Improved performance of over £270m in revenue at a 4.92% COS.
- Launch of Local Inventory Ads (LIA) and Bing PLA
- Record Black Friday week with over £16m in revenue at a 3.39 COS
- 23.2% decrease in COS despite 183.3% increase in spend
- 370% increase in revenue
- Moved from a keyword to an audience approach
- Revenue up 370% YOY with a 46% decrease in CPC