Conversion Success: Using Retargeting and Clever Newsletter Marketing
The Conversion Success session was a great, rapid fire case-study review of different ways companies have been employing methods to increase conversions rates. Client case-studies discussed included Overstock.com, Moen and Skechers with the partners Optiem and ChoiceStream that helped them.
The panelists included the following:
Chris Caputo, VP, Digital Media Strategy, Optiem, Inc.
Laura Christine, VP of Direct marketing & Ecommerce, SKECHERS
Geoff Atkinson, Senior VP, Marketing, Overstock.com
Cheryl Kellond, Senior VP, Advertising Business, ChoiceStream
With no expectations of what the session will cover, I was happy to see real case studies of how display marketing (with retargeting) can function just like search, in terms of match the audience with a relevant message from advertisers.
Understanding what 360 Analytics Is
Before jumping into the case studies, the moderator, Christopher Marriott of Acxiom Digital, along with the other panelists kicked-off the session by defining analytics: 1) what it means to have a holistic view of analytics; and 2) how to approach analytics as part of the analysis and optimization cycle of marketing campaigns.
360 View of Analytics Means:
- Understanding how media (search, display etc) overlap in reach and interactions
- Have an optimization mindset
- interactions are interrelated…connect the dots
The Components of 360:
- There three components: 1) Media: Paid, Display, Conversions; 2) Behavior: Visits, Engagements, Conversions; 3) Customer History: Products, COGS, Profit
- With analytics about knowing: media, behavior, customer history. Google Analytics is 1/3 of queation
Case Study #1: Overstock.com and ChoiceStream Retargeting System
Working with ChoiceStream (a retargeting platform), Overstock.com employed a display campaign that retargeted based available and past behavior on the Overtstock.com website. Overstock showed some examples of the types of creatives that were dynamically generated:
The creatives were customized on the fly based on the user’s Overstock.com cookie - items left in the shopping cart, wishlist etc - with the landing page matched as well. It provides a relevant dynamic experience from the creative to the landing page.
Results:
- Conversions per Thousand Impression: 3x
- Revenue per Thousand Impression: 3x-5x
Case Study #3: Moen & Refresh CRM Data
Moen was faced with the challenge if refreshing CRM database and introducing new products, while choosing not appear on trade shows. Trade shows was their traditional opportunity to be in contact with customers and introduce new clients.
The solution was decidedly “low-tech” but highly clever and appropriate for the audience. They sent along a newsletter to their current customer database:
- Sending the newsletter emails the same time trade shows
- Showing new products being launched in the newsletters
- Masking the CRM refresh as a sweepstakes where they need to update their contact information
The underlying logic was that customers, as they were trade show attendees, had the mindset of wanting new product information and interact with Moen. So while Moen was not present at the trade show phsycially, Moen was able to get “top of mind” of the customers when they were interested and looking in the information.
The Results from the Newsletter:
- Open Rate: 7% Increase
- Response Rate: 32% Increase
- In 48 hours: Half-Responded responses
Case Study #3: Skechers and Retargeting Display with Optiem
The goal of the Skechers campaign was to bring current in-store Skecher customers to shop online. Retargeting was used much in the same way as Overstock.com. Based on cookie data of people who have already visited Skechers.com, they showed specific displays for children, men or women shoes.
Results: 67% ROAS with weekly optimization
Laura Christine of Skechers remarked that for them, display with targeting delivered just as good, if not better, ROI than search marketing.
On an interesting side note, the retargeting system ran on cheap run-on-network buys. As most Skechers employes visited their own website, there were many emails to to marketing department asking how much they’re spending on display since the ads appeaed to be “everywhere,” when instead it was just targeting whoever had visited Skechers.com
