Tok&Stok was facing a tricky situation due to COVID-19. Their offline stores were partially closed, which made it necessary for them to put renewed focus into their digital marketing. They wanted to maximize their revenue and increase their overall ROI.
To make this possible, Tok&Stok needed to develop a more strategic approach to using their business data, as well as gain deeper insight into their product catalog.
ROI Hunter worked with Tok&Stok to set up Product Insights (PI) for their catalog. PI integrates product-level data from across channels, combining it within ROI Hunter’s platform to form a single source of truth. Using this source of product-level data, Tok&Stok was able to filter their catalog for specific metrics based on their goals of increasing revenue and ROI.
Rather than relying on a single product set for a site-wide dynamic product campaign, Tok&Stock created numerous product sets, each with their own bid and budget. The advantage to this is ensuring that all the products you want to be promoted will definitely be displayed. With a sitewide campaign, the top-selling 1% of products would receive the majority of all impressions.
With the filters applied, Tok&Stok created highly specific product sets for their dynamic strategy:
- A product set of the most highly returned items. This set was then excluded from promotion.
- A product set of the most searched for products on Google. This set was used to automatically promote items if they began to trend.
- A product set of best-selling products across channels. This set was used to ensure that the overall most popular products were receiving enough promotion.
- A product set of items with special promotions or offers. This made it simple to start, end, or alter special promotions. This list of special promotions was also used to create template rules for special seals/badges to indicate if a product had free shipping, was discounted, was a bestseller, etc.
- A product set of items connected to a custom source, making it possible to work with different prices between catalogs (one following the product feed, the other following the custom source).
These products sets were also designed to update automatically, meaning that even newly added items to the catalog would be included.
Tok&Stok also connected their product feed to a custom source using Sheets to record Product IDs and prices. Now whenever a sale is happening, they just need to enter a new “Sale Price” field for that products ID. This much faster method of substituting a sale price enables Tok&Stok to stay on top of the market, and enact price changes at scale.
With their robust dynamic strategy, guided by the additional metrics from Product Insights, Tok&Stock was able to achieve incredible results. They didn’t just keep the numbers stable while increasing their spend by 91%; they actually improved them! Working together with ROI Hunter, Tok&Stok managed to achieve higher spend, higher revenue, and higher ROI.