Major multi-category online marketplace.
Our online marketplace customer was looking to scale as quickly as possible, with a spend versus revenue of zero. However, they didn’t have the insight into their performance marketing that they needed to make changes to reach this goal – even after they had done everything they could to optimise their Google Shopping.
With 35 million SKUs and with Google Shopping driving over 80% of their total revenue, our customer was having trouble identifying which product lines were driving success and positively contributing to gross merchandise volume. With such a large volume of products they were also unable to conduct product testing (experimenting with products receiving more marketing investment) without wasting large amounts of their budget.
The Upp. team conducted an audit and provided the customer with insights around which product lines of the 35 million across the business were having the biggest contribution to the business’ gross merchandise value target.
Upp. increased the visibility of and investment in top selling products. By organising individual SKU’s, based on their likelihood of sale, we targeted investment to the exact products most likely to sell, rather than spreading “bets” across the whole product range. This changed Google Shopping from an unprofitable marketing channel to a healthy profitable one.
Upp. also uncovered that only 3,000 products were being successfully sold through Google Shopping although 10,000 performed well elsewhere. So we then conducted product testing with 7,000 of these, upweighting their investment on Google Shopping to achieve the business’ profitability goals.
By intelligently evaluating both their customer orders data and Google Shopping data, Upp. also continues to provide insights that have transformed performance marketing. Some examples of insights include highlighting which products have the best reception in the market. Using sales velocity data to increase exposure on the right products (due to their higher likelihood of conversion) and report trends back to the business.
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