Success Story: Bissell
Developing Investment Recommendations
Client Overview
Bissell is a household cleaning equipment and solutions manufacturing company
Voro was tasked with reforecasting quarterly or monthly budgeting needs to obtain maximum revenue and continue proving the value of search to obtain incremental budget increases in support of new initiatives and strategies for our client.
Services:
- Business Intelligence
- Paid Media
- Strategic Consulting
Client Segments:
- Ecommerce
- Retail
Project Goal
Increase revenue and sales while maintaining a specific ROAS goal
Challenges
Source of Truth: Identifying one source of truth to evaluate if adding incremental budget was successful.
Constantly Changing Platforms: We used historical performance metrics to identify the total budget opportunity while maintaining ROAS targets. However, since the platforms were constantly changing it was difficult to estimate exactly how much budget would be needed during the peak shopping season.
Cookie Window: While testing new strategies we had to quickly judge what was working and what was not. A new tactic could initially look like it was not working well, and then after 30 days have more revenue attributed to it.
Attribution: We needed to use last-click attribution with our 3rd party platform (as they did not support more holistic attribution models). This meant that when we tested new strategies to generate awareness, we were not able to see if they eventually led to a conversion (receiving partial credit). Therefore, we ended up needing to pause tactics that were not directly driving revenue even if they were an important part of the consideration journey.
Our Approach
Budget Pacing: We reviewed budgeting and performance three times a week to make sure we continued to allocate budget to the most efficient, profitable, and top revenue driving campaigns.
Reforecasting: We identified total spend opportunity by reviewing impression share lost to budget in previous years and previous months.
Weekly Calls: We had constant communication with the client to let them know how high we were pacing and what the opportunity was each month.
Testing Betas & New Strategies: We continued to surface new opportunities and ad types to entice customers and drive valuable traffic to the website.
Valuable Insights: We provided follow-ups for every test with thoughtful analysis, insights, and next steps.
Results & Insights
With the larger investment, we were able to increase revenue and sales, while exceeding ROAS goals.
Paid Search Incremental Investment (Last Four Years)
Paid Search Investment Results (2018)
What did we learn?
Reforecasting monthly and quarterly to get budgets approved quicker allows for more incremental budget early on. This helps generate more revenue to support new initiatives and product releases later in the year.
Providing transparent results and continued recommendations for new tests excites clients and helps them generate internal support for incremental tests.
Tell us about your next project
Whether you have questions about how we can help your business or want to explore the possibility of working together, please contact us.
