As part of their ongoing strategy, Wallis wanted to highlight their newer products in their promotions to see if it would improve their return on ad spend (ROAS).
Promoting newer items would also help Wallis identify more best-selling products (items making up the top 10% of revenue) that they could advertise more heavily as part of their business as usual (BAU) strategy.
Additionally, Wallis was looking to ensure that they weren’t promoting products with low-stock variants.
ROI Hunter first set Wallis up with the Product Performance Management (PPM) platform.
The PPM platform is a unique solution that integrates product-level performance data from across all of a retailer’s channels (Meta, Google Smart Shopping, Google Analytics, Branch.io, etc.) and merges it with their product inventory.
Using this product performance data, e-commerce marketers can easily create highly specific product sets to achieve particular campaign goals (higher revenue, more conversions, etc.).
For this campaign, ROI Hunter introduced Wallis to the PPM platform’s Segments solution. Segments allows marketers to quickly view and analyse different product segments based on data from Google and Meta.
Giving exposure to New Arrivals
The New Arrivals segment allows advertisers to set up a product age parameter representing the duration (in days) that items have been in the catalogue. Wallis defined New Arrivals to include products that have been in the catalogue for 90 days and less.
After analysing the New Arrivals segment, Wallis was able to identify lucrative new items in their catalogue that they wouldn’t have noticed before.
Eliminating the low-stock variants to improve the consumer journey
Wallis also built a ‘Fragmented Stock’ segment with a stock-out-score of 30% and less (items with less than 30% of variants left in stock). The purpose of creating this segment was to ensure that the items that were low in variants would not be advertised.
Using the two segments mentioned above, Wallis filtered their products to create a new product set for Meta campaigns that included New Arrivals and excluded Fragmented Stock (pictured below).
The new product set with ROI Hunter became Wallis’ second highest-performing ad set (second only to their Bestsellers product set) just six weeks after its launch.
Wallis’ campaign with ROI Hunter resulted in an 18% boost in ROAS, a 33% increase in click-through rate (CTR), and 15% lower cost across the overall account performance.
The campaign results also showed that promoting New Arrivals helped improve Wallis’ average order value (AOV) by 14.5%. Additionally, the number of best-selling products within their catalogue increased by 17% compared to the previous six weeks.