Who are HOMERISE and what were the challenges they faced?
HomeRise is a furniture brand selling a range of home decoration products through an online web shop.
Before my hands-on approach, they were running a prospecting campaign and a retargeting campaign on Meta ads (Facebook/Instagram). Below is the data from the initial account audit 7 days with 7-day click, 1-day view attribution window.
The account was running with 2 campaigns generating the following results:
- Purchases conversion value prosp=£287 Purchases conversion value ret=£785
- CPA prospecting= £498 CPA retargeting=£42.85
- CTR prospecting= 0,09% CTR retargeting=0,11%
Furthermore, their marketing funnel was split into 1x prospecting and 1x retargeting campaign.
The prospecting campaign was optimised for Adds to Cart and targeting a lookalike audience of existing customers.
The retargeting campaign instead was optimised for Purchases and targeting people who added products to cart in the last 14 days.
HomeRise was running 1 ad in Prospecting and 2 ads in Retargeting:
Finally, the goal of the brand was to increase the purchase conversion value(index of ROAS)
How could I help them?
1) Funnel structure
I suggested to implement the following funnel structure:
- Consolidating Prospecting and Retargeting campaigns within a single Campaign with Conversion as Objective
- Building 3 adsets with new audiences: 2 for prospecting, 1 for retargeting
- Implementing CBO so to drive lower cost per result on average
Short term: Implementing the “initiate checkout” events within the Pixel, allowed the Meta algorithm to achieve the 50 conversion events within a 7-days period, needed to get out from the learning phase and drive stable, cost/efficient results.
Long term: Switching from “initiate checkout” to “add to cart” once the pixel registered the 50 add to cart events. Switching from “add to cart” to “purchase” once the pixel registered 50 purchase events.
- Implementing a broad audience + interests (home deco, home decore, interior design) for the the first adset in prospecting
- Keeping the adset with the lookalike 2% of the existing customers, adding a lookalike of the site visitors
- For the retargeting adset, keeping the add to cart audience, implementing the re-engagers of the previous activity audience in a second moment.
Considering the low CTR we could affirm the ads were not performing well.
- Prospecting ads:
– There was only 1 ad running for this phase. This was not enough as the algorithm would not have the opportunity to optimise efficiently. We implemented:
-1 reel (election format for prospecting in 2022 based on my experience)
-Video ad of 15 sec. (video demonstrated to be very effective to drive awareness)
-Copy ads variated, leveraging the pain points.
- Retargeting ads:
– Existing ads optimised: Too much copy within the creative; primary text to variate.
– Launching new formats: Implemented Carousels and dynamic ads, alternatively to the statics, so to help the algorithm, optimise efficiently and increase the conversions.
What were the results?
- The campaign registered an increase in CTR, add to cart and purchases once the new funnel, ads and audiences were implemented.
- The purchase conversion value (index of ROAS) settled around £1000 as a results of the optimisations, largely outperforming the values registered during the funnel audit.