Value Based Automated Bidding
Coach
Ovative is helping Coach to drive core retail business revenue while aggressively scaling their outlet business model by optimizing to Enterprise Marketing Return (EMR).
Scope
Opportunity
To optimize towards Enterprise Marketing Return (EMR), Ovative’s holistic metric that enables value-based bidding, and drive more in-store traffic from Paid Search campaigns, Ovative’s Coach SEM team implemented Store Visit Values (proxies supplied by client) into the backend settings of an automated bidding campaign. This input better informs Google’s automated bidding settings to optimize to a mix of Store Visits and Ecomm Revenue.
Impact
- Estimated +135% lift in retail store revenue % total and +29% lift on outlet store revenue.
- Improved core retail business revenue while aggressively scaling outlet business model
Approach
- Determine store visit value by business tactic (retail vs. outlet) based on in-store average order value and conversion rates supplied by the client.
- Implement store visit values (initially 20% of supplied proxy value) in the backend of Google Ads to enable automated bidding to target in-store customers.
- Build a comprehensive store visit report that breaks down store visit and ecommerce performance by tactic, store visit valuation, and store visit demand as a percent of total revenue.
- Gradually increase backend store visit value to place greater emphasis on omni-revenue, allowing the platform to adjust without overwhelming shifts in bidding strategy.
- Measure enterprise revenue (store visit conversion value and % total) and then validate within MAP reporting.
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