Preparing for a sale in Rockerbox (Full)
From global shopping events like Black Friday, Cyber Monday, and Christmas to annual promotions and tailored marketing campaigns, Rockerbox is your go-to tool for preparing for sales periods. Utilizing Rockerbox can significantly enhance your revenue and help you achieve your strategic growth targets. These high-traffic periods offer a prime opportunity to boost sales, but they require meticulous planning and execution. By leveraging Rockerbox’s advanced, data-driven marketing measurement tools, you can optimize your strategies to make the most of these peak periods. Here’s a comprehensive guide to ensure your success.
Choosing the Right Channels
Identifying which channels to increase spending on is crucial. We use Rockerbox to assess baseline performance metrics like ROAS (Return on Ad Spend) and CPA (Cost Per Acquisition) for each channel, tactic, and campaign. We focus on channels with the highest ROAS and lowest CPA to ensure efficiency.
Identifying which channels to increase spend in is crucial. Use Rockerbox’s Cross-Channel Attribution view to assess the baseline performance metrics like ROAS (Return on Ad Spend) and CPA (Cost Per Acquisition) for each channel, tactics and campaigns. Focus on channels with the highest ROAS and lowest CPA to ensure efficiency.
1. Cross Channel Attribution page
First, we identify our top-performing channels using the Cross Channel Attribution page, where we can see deduplicated and impartial ROAS and CPA for each of our channels, tactics, and campaigns. We analyze how each channel is performing against itself using the Time-Period Comparison feature to see changes in performance over the last 7 days, 30 days, quarter, and year. This helps gauge the performance direction and confidence in scaling.
If we have data from previous sales, we review performance for that period to identify what worked well and what didn’t from a ROAS and CPA perspective. This insight prepares us to make informed decisions for the upcoming sale.
2. Funnel Position
Once we understand each channel’s overall performance and baseline, we delve deeper with the Funnel Position view. We analyze each channel’s effectiveness in different parts of the conversion funnel: prospecting, retargeting, and converting.
- Prospecting: We filter for new customers only and sort by % First Touch to see which marketing activities are bringing in new customers.
- Retargeting: We look at % First Touch for repeated customers to identify the best channels for remarketing.
- Converting: We check out % Last Touch to find the best-converting channels.
Additionally, we examine each channel’s role in the customer journey by looking at % First Touch, % Middle Touch, and % Last Touch to determine where to invest our budget for scaling each part.
3. Channel Overlap
With a good understanding of our top-performing channels, we next want to identify overlaps and synergies between them and determine standalone high performers. This helps in understanding how channels complement each other. For example, social media ads might generate interest, while retargeting ads convert that interest into sales. We’re also looking to pick out standalone channels that perform well independently, especially for acquiring new customers.
From the Channel Overlap view, we analyze any channel, tactic, or platform to see its overlap with others. We identify combinations that work well together and standalone channels that perform well independently. This helps in building a media plan that considers the dynamics across channels and guides where to scale together or independently.
4. Marketing Paths
Finally, we use the Marketing Paths view to delve into actual customer paths to conversion. This deep dive builds on previous analyses and provides specific details like Time to Convert, Average Order Value, and Average Number of Touchpoints. This helps in planning when to scale up investment in channels before our sale.
- Deep Dive: We use tier filters to focus on high-performing channels, tactics, and campaigns. We analyze user paths to conversion and reinforce previous findings.
- Summary Stats: We check out average touchpoints, revenue, and conversion time for each pathway to plan the scale and timing to optimize our sale media plan.
Align with strategy
To align with our strategy, we need to focus on channels that match our goals. If our objective is to acquire new customers, we should concentrate on channels that are effective at reaching and converting new audiences. Conversely, if our aim is to maximize efficiency, we should prioritize channels with the highest Return on Ad Spend (ROAS) and lowest Cost Per Acquisition (CPA). By tailoring our approach to these specific goals, we can ensure that our marketing efforts are both targeted and cost-effective.
Choose when to increase spend in each channel
To optimize our marketing efforts, we should strategically choose when to increase spending in each channel. By performing a time-to-convert analysis using Marketing Paths for each channel, tactic, and part of the funnel, we can align our spending increases with the expected time to convert. This ensures that our investments are timed for maximum effectiveness, enhancing our overall return on investment.
Be patient with results
It’s important to be patient with results, especially when increasing spend. Initially, we might see a temporary dip in performance due to diminishing returns, where the efficiency of each additional dollar spent decreases. Additionally, there is often a time lag between when we increase spend and when conversions start to materialize. Understanding these factors helps set realistic expectations and encourages persistence through the initial performance dip.
Conclusion
Preparing for a sale on Rockerbox requires a strategic approach to channel selection, spend allocation, and performance monitoring. By leveraging Rockerbox’s advanced tools and insights, you can optimize your marketing efforts, achieve your sales goals, and maximize your return on investment. With these strategies in place, you’ll be well-prepared to make the most of high-traffic shopping events and drive substantial sales growth.