ROAS, much higher than their break-even ROAS.
Average ROAS (5 times their break-even ROAS)
Dependence on price comparison engines
Foxstore wanted to test other digital marketing channels to reduce their dependence on the price comparison engines. They wanted to test the waters of Google Advertising starting with a relatively low budget and they tasked us to provide a strategy that will be profitable and then scalable. Even though they sell products from various categories, their major revenue comes from technology-related products, hence they have a low-profit margin, so their break-even ROAS is one of the highest we had to formulate a plan to exceed.
Foxstore site was built to sell via price comparison engines. Their product pages were filled with content, but their category pages were not that great. There were not enough filters for the user to navigate to, there were no description texts on those pages. Furthermore, the buying behavior up until that point in time, showed that there was a respectable percentage of purchases made in more than one day after a user visited the site. It was clear from the beginning that for this account to grow, we need to formulate a strategy targeting products instead of categories.
We presented the client with an approach consisting of Display Remarketing, Search Remarketing, Search Dynamic – focusing only on product pages, and a Shopping Campaign. We uploaded and maintained a customer match list and observe and then target similar audiences.
The initial results were an amazing X62 ROAS, much higher than their break even ROAS. This convinced the client to further invest a large budget increase but also in setting up more conversion actions, optimizing their dynamic feeds and creating campaigns for liquidity purposes. In the first 7 months of working with Foxstore on Google Advertising, their average ROAS is 31.56 (5 times their break even ROAS), they keep increasing their budget each month and they also decided to heavily invest in redesigning their site and changing how their team used to work to place equal emphasis on the category pages as well as their product pages. In just 7 months, they managed to reduce their dependence on price comparison engines by 30% while maintaining a profitable growth on their paid channels.
Low Price Technology Star
Foxstore.gr offers branded technology products at low prices. Their initial model is to make use of the extremely targeted audience of price comparison sites. Their site was built placing emphasis on product pages and most of their revenue came from the two well-known price comparison engines of the Greek market.
Electronic Products & Hardware
Facebook Paid Advertising
Social Page Management