A precision remarketing campaign from digital agency Periscopix has resulted in 1,300% ROI for Watchfinder, the premium, pre-owned watch retailer. Average order value on the site has increased by 13% as a result of the campaign.
Brand: Watchfinder | Sector: Luxury, retail | Country: UK | Objective: brand awareness, consideration and purchase | Agency/ Partner: Periscopix | Format: Remarketing, Display advertising, behavioral targeting, web design
Analysis by Watchfinder found that only 1% of visitors to its website buy on the first visit. The decision to buy often takes weeks or months, perhaps unsurprisingly, as the average order value is £3,500. Re-engaging with potential customers and encouraging them back to the site is an important part of the sales process.
Periscopix, Watchfinder’s agency (and a Google Analytics Certified Partner) created a Remarketing using Google Analytics Remarketing lists, to target those web visitors who were most likely to buy, either from the site or from Watchfinder’s new physical store in London’s Royal Exchange.
Periscopix created 20 different lists of visitors who had shown interest in buying (but didn’t go on to do so) based on context including:
• Location
• Language
• Products and pages viewed
• On-site behaviour, such as time spent on the site. Analysis showed that people who’d spent 10 minutes or more on the site without buying were more likely to come back to buy, so this group was targeted heavily
• Internet Service Provider (ISP) ISP used. Analysis found that some ISPs in the City (London’s financial district) were driving traffic with higher engagement rates
• What stage of the buying process they were at
The agency then tailored adverts across the Google Display Network to each audience segment, with specific messages targeting consumers based on context. For example, the campaign encouraged consumers in London (including employees at named, City-based investment banks, such as JP Morgan and Goldman Sachs) to visit Watchfinder’s London store.
At the end of the six-month campaign, Watchfinder’s return on investment from the campaign is 1,300%. The average order value has increased by 13% and cost-per-acquisition is down 34%.
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