How we Grew Net Revenue by a Staggering 3034% YoY on Facebook
Our client is Minga London, an online brand for aesthetic, vintage-inspired clothes, grunge fashion and tumblr outfits.
Like many, the client was impacted during lockdown in various ways, from shipping, stock levels, stuff to consumer purchasing power. In this case study, we will show you how we reorganised the account, expanded to new markets and increased the budget efficiency on Facebook alone, to grow the net revenue by 3034% YoY and set our client for bigger opportunities, all during those challenging times!
- Lockdown meant a lot of people were more reluctant at spending their money on non-essentials.
- As with most eCommerce brands, most revenue is generated during the November/December period. With poor performing summer months, the client would not have sufficient investment to prepare for that period.
Ambitious Targets Exceeded
- Targets were met and exceeded achieving a 980% ROAS across all Facebook activity. The majority of growth came from new customer acquisition building good foundations for further growth.
- Successful implementation of two additional European markets resulted in better exposure, higher revenue and potential international growth in the future.
- Key audience identification and testing
During the first months, we managed to do extensive research on audiences and test them to identify our key market. Throughout the year, we continued testing additional audiences and adding them into the strategy. The work of testing never ends and we continue to expand to new audiences as we gather more and more learnings on the platform.
- Agility and Reactiveness
The first lockdown meant a huge amount of advertisers were forced to stop advertising on Facebook, which caused the cost of advertising on Facebook to decrease substantially due to lower competition on the platform. At the same time, consumers were uncertain about their financial situation while brands were uncertain about their stock. All of those factors meant we have to be very agile in our actions and campaign optimisations, making decisions based on current trends, CPM changes and adjusting the account structure to take advantage of the new reach opportunities.
- Strong Preparation for Black Friday
With some really good results throughout the year, we had a lot of learnings to take into November Sales, our busiest period. But it’s really never too early to start the preparation, and with that year being so different, we knew we needed to take a very special approach. We started planning in September and implementing our strategy in October, ensuring we are building a strong acquisition base, stable account performance and getting our assets ready weeks ahead of the sale to avoid any delays within the platform. We also introduced two new scaling techniques that really helped us grow and balance out the daily performance during the sale period.
- Omni-Channel Approach
As with anything, you can’t really do it alone though. Any business trying to grow needs to look at its strategy and use an omni-channel approach to encompass as many touch-points with its consumers as possible. So ahead of Black Friday we also introduced some strong Google campaigns and ensured the aligned strategy with Facebook activity. I mean, there was no way it wouldn’t work.
We are always looking for the next opportunity to grow our customers’ businesses; so it’s no surprise that we are now preparing campaigns for TikTok and Pinterest.
Watch this space for updates!
Hard times don’t mean you have to struggle! Instead, look at your opportunities, think about how to change your approach and act.
For the client, they could have decided to follow other brands and pause their advertising during lockdown. With their team not being able to meet in the office, restricting their photoshoots, packing and many many more, they would have been well within their right to stop.
But they didn’t! And instead, they looked at alternative ways of doing what they do best, at engaging with their consumers, growing their base and expanding their business. They took advantage of the time when competition and cost of advertising on Facebook were low, they jumped on board with all optimisations, tests and suggestions we proposed, and introduced a new channel to support their overall growth.
But most importantly, we worked together as a team. Constant communication, understanding goals, obstacles your client is facing, that has really helped us support them in the best way we knew how – growing their Facebook revenue.
If you’ve liked what you’ve read and would like someone to challenge you to grow together, please get in touch today.
Like many during the pandemic, fashion industry brands have faced challenges that could have had a serious impact on their business, even forcing them out of the market.
Our role as an agency and a partner was to help the client leverage their full potential, take the opportunities that lay ahead and support them with our expertise where possible so that they could focus on things that needed their attention most.
This experience has not only brought us closer as a team but has also allowed the client to take their brand to the next level in 2021.